Revenue Assurance Officer at Wema Bank Plc

Job Summary

Job Purpose

Revenue assurance is important to identify, analyze, mitigate and prevent revenue leakage through a range of measures. It aims to reduce risks of losses due to errors, negligence, or fraud and ensures that discrepancies are identified and resolved quickly. It helps to identify opportunities to increase revenues and maximize profits. It also involves detecting possible opportunities for cost optimization and streamlining operations.

JOB RESPONSIBILITIES 

• Review of all revenue lines to ensure that all income due to the bank is earned.
• Ensure the mapping of all asset lines to corresponding income lines are properly done as well as the unbundling of PAL accounts where necessary. 
• Ensure the integrity of revenue-related system-generated entries and GL accounts. 
• Review of settlement activities across all banking channels and payment options 
• Monthly review of interest income, fees, and commission lines to ascertain the completeness and accuracy of recognized income. 
• To work with other stakeholders to recoup income discovered not to have been earned by the bank
• Engage with appropriate stakeholders in the automation of any manually recognized income to reduce human errors. 
• Support to the Finance team toward efficient annual audits. 
• Review Interest and Fees earned and ensure compliance with CBN guideline for charges.
• Monitor accounts on AMC concession and ensure account performance to avoid income leakages.
• Ensure that revenue lines are up to date with rules and regulations relating to VAT/WHT.
• Monthly report of revenue assurance activities, observation and recommendations

Qualifications and Skills include: 

• Minimum BSc Finance, Accounting or related Social Science course 
• Solid knowledge of fundamental accounting principles 
• Ability to write advanced SQL and analyze large data sets. 
• Ability to use data analysis tools – ACL, Power BI etc.
• Microsoft Office (Word, Excel, Outlook and PowerPoint)
• Analytical mind, able to process information logically delivering value added analysis. 
• Excellent communication (both verbal and written) and interpersonal skills. 
• Independent self-starter and flexible team player 
• People Management Skills 
• Strong willed, high integrity, Intelligent, hard working.