Reconciliation Specialist - ICD

Role: Reconciliation Specialist - ICD
Location: Abu Dhabi

Role Purpose:

Perform the periodic reconciliation of Central Bank and Nostro Reconciliation and daily monitoring of Exception reports. Performing the End-of-Month Review of GL Accounts Reconciliation & Proofing performed by respective proof owners. Identify the outstanding entries, report & escalate the pending entries to the branches and processing units/respective Departments for investigations & corrections and track them until closure.

To carry out daily transaction monitoring of ADIB staff accounts “credit transactions” as a detective control activity by identifying staff unusual transactions for the appropriate investigation & reporting

Also, preparing MIS Dashboard related to Nostro and Balance un-reconciled accounts to ICD Reconciliation Manager for Further review and directives.

Key Accountabilities of the role

• Perform the Central Bank and Nostro reconciliations of ledger transactions against statement transactions as per the related procedures, checklists, and work instructions.

• Ensure that all required accounts reconciliations, under your responsibility; are received/submitted on time with no missing as per the agreed recon. frequencies. Late and missing accounts reconciliations are to be escalated.

• Conduct the EOM reviews of Reconciliation submitted by respective Accounts owners as per the related procedures/ checklists/ work instructions, validate the identified issues and highlight them to the respective owner for explanation and necessary actions

• Daily Monitoring of Exception reports comprising Manual posting to GL Interfaces, GL Balances against their nature and Overdrawn MAP Accounts Teller Shortages/Overages, Payment Orders reconciliation (As per the related procedures) and highlighted issues to respective owners for justification and necessary action.

• Monitor the high-risk GL accounts (WIP, Rejected and In- suspense, Cash in Transit) and identify the outstanding entries/exceptions and reporting to respective department for further corrective action.

• Daily Monitoring of Exception reports comprising Debit to income GL, Debit to MAP outside the customer RIM to ensure appropriate approvals are in place.

• Performing Reconciliation of MAP/GL Accounts under ICD Ownership as per the related procedures.

• In case of outstanding Entries/Exceptions, detected errors or discrepancies. Report and escalate them to the respective Branches/Departments designated staff for their correction and necessary actions as per the agreed TAT.

• To carry out daily transaction monitoring of ADIB staff accounts “credit transactions” as a detective control activity by identifying staff unusual transactions for the appropriate investigation & reporting. This helps to protect ADIB & its staff/customers’ accounts from being misused for fraudulent activities.

• Track and follow-up (Arrange meeting) with the respective Branches/Department designated staff until the issue is closed.

• Investigate and respond the Financial Control/Branches/central operation departments' / Int.' Branches/Other Departments staff inquiries and assist them in solving their reconciliation related problems.

• Reviewing and notify GL/MAP Accounts with Zero balance and no activity > 1 year to respective account owners for their further review and closure if not required.

• MIS and Dashboards : Prepare dashboard for un-reconciled Balance sheet Accounts for ICD Reconciliation Manager for his further review and directives.

• Daily transaction monitoring of ADIB staff accounts “credit transactions” identifying staff unusual transactions for the appropriate investigation & reporting.

• RCSA Testing is conducted on timely basis

• Involved in UAT Testing to review financial posting / Reconciliation process and to notify any GAP/discrepancies to ITD/Respective Application owner.

• Improve your performance and productivity by attending the needed training courses and on the-job- training discussions sessions, expanding the technical knowledge and skills needed to carry out your duties and engaging in any additional assignments/ projects assigned by ICD management.

• Keep good teamwork spirit excellent relations with all parties and service standards.

• Contribute to special tasks assigned by ICD Reconciliation Manager/Global Head of ICD and BCM.

RESULTS REQUIERD:

• Unreconciled entries are timely detected, reported, escalated, and corrected to avoid operational actual losses.

• Re-conciliation issues are timely reported and escalated for respective departments corrective actions.

• ICD Procedures, Checklists and work instructions are strictly followed and implemented.

• Reconciliation activity; as a critical service being provided to many internal customers; is up and running with no major interruption

DIMENSIONS:

• ICD Reconciliation Team is global team based in ADIB Head office. The scope applies to ADIB UAE accounts and International Branches accounts

• ICD Reconciliation Team is part of detective control /line of defense after branch, Central Ops, Business units, Head office Department that minimize and limit the operational losses and Near Misses incidents.

• ICD Reconciliation Team is part of Learn lessons, technical guidance and assistance to the branches Central Ops, Business Units users on their account’s reconciliations related issues.

• ICD Reconciliation Team is central Point of contact within ADIB for meeting Central Bank examiners, External and Internal Audits requirements about the Nostro accounts transactions queries.

• Competent technical staff is highly critical factor to the success of the Reconciliation and proofing monitoring activity since multiple accounts with multiple natures of transactions, aging, exceptions, posting channels, systems interfaces & integration are involved.

Specialist Skills / Technical Knowledge Required for this role:

Accounting, MS Office, Banking products and services.

ADIB Application (Intellimatch, EThix, etc)