Reconciliation Operations Analyst

Description

The analyst will need to understand differences between the Oracle GL Balance and Data Warehouse Balance for Local GL Codes;

and will be responsible for identifying, analyzing, investigating and taking action accordingly with regards to the specified breaks.

• The various controls include general ledger reconciliations, WIP Account reconciliations, Suspense Account reconciliations;
• reviewing, providing, correcting, and coding data; conducting root cause analysis and remediation; resolving rejected entries and suspended items;
• updating financial transaction records; reconciling settlements and adjustment entries; remediating fund-processing errors;
• certifying asset and liability general ledger accounts;

Swift Message Analysis : Thoroughly analyze incoming Swift messages to extract critical information regarding payment sender details, borrower names, lender information, and external agent bank involvement.

Payment Sender Determination : Accurately identify the payment sender involved in the transaction, distinguishing between borrower, lender, and external agent bank.

Attention to Detail : Pay meticulous attention to detail to avoid errors and ensure the accurate input of information into the reconciliation system.

Borrower Name Cross-Referencing : Utilize an organizational list to cross-reference borrower names, enabling the identification of the relevant team agency and administrative managers involved in the transaction in OVS, T360, ACBS or both systems.

Data Security and Confidentiality : Ensure the highest level of data security and confidentiality while handling sensitive financial information.

Individuals in the Account Reconciliation & Controls job function (Banking Operations Processing) focus on data input and output, general ledgers, and identification and remediation of discrepancies.

• Responsibilities include balancing account statements; reviewing, providing, correcting, and coding data; calculating and validating batch totals;
• conducting root cause analysis and remediation; resolving rejected entries and suspended items; updating financial transaction records, such as accounts receivable, disbursements, expense vouchers, payroll, receipts, and accounts payable;
• reconciling settlements and adjustment entries; remediating fund-processing errors; certifying asset and liability general ledger accounts;
• reconciling outstanding account balances; and supporting vendor quality control; conducting daily, monthly and quarterly certification of general ledger balances;

monitoring and reporting on exceptions; and distributing exceptions to operations processing teams.

Provide operational support and ensure a separation of duties between processing and control ownership.

Qualifications :

• 2-3 years work experience, preferably in the financial services industry
• Proficiency in Microsoft Access, including database and report building, with some SQL / Toad / Oracle skills required
• Six Sigma certification
• Ability to communicate effectively and build strong business relationships - Analytical and process skills
• Proficiency in Microsoft Office Suite and Visio
• Bachelor's degree
• Financial Industry Knowledge : Familiarity with financial systems, money transfer processes, and commercial loan transactions.
• Swift Message Proficiency : Expertise in decoding and interpreting Swift messages, particularly in the context of commercial loan payments.
• Data Analysis : Strong analytical skills to extract relevant information from complex messages and datasets.
• Attention to Detail : Exceptional attention to detail to accurately process critical financial information.
• Cross-Referencing Skills : Ability to cross-reference borrower names against incoming messages to determine accurate matching.
• Reconciliation Systems : Familiarity with reconciliation systems to ensure seamless integration of extracted data.

The typical base pay range for this role is between $65K - $80K depending on job-related knowledge, skills, experience and location.

This role may also be eligible for certain discretionary performance-based bonus and / or incentive compensation. Additionally, our Total Rewards program provides colleagues with a competitive benefits package (in accordance with the eligibility requirements and respective terms of each) that includes comprehensive health and wellness benefits, retirement plans, educational assistance and training programs, income replacement for qualified employees with disabilities, paid maternity and parental bonding leave, and paid vacation, sick days, and holidays.

For more information on our Total Rewards package, please click the link below.

The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities duties and skills required of personnel so classified.

We are proud to be an Equal Opportunity Employer and committed to leveraging the diverse backgrounds, perspectives and experience of our workforce to create opportunities for our colleagues and our business.

We do not discriminate on the basis of race, color, national origin, religion, gender expression, gender identity, sex, age, ancestry, marital status, protected veteran and military status, disability, medical condition, sexual orientation, genetic information, or any other status of an individual or that individual’s associates or relatives that is protected under applicable federal, state, or local law.