Bank Reconciliation Analyst x4

Recruiter
Towergate Insurance Limited
Location
Yeadon, UK
Salary
Competitive
Posted
10 Sep 2019
Closes
22 Sep 2019
Ref
1231903727
Sector
Accountancy
Contract Type
Permanent
Hours
Full Time
Purpose of the Role:

The purpose of the Bank Reconciliation Analyst role is to resolve bank reconciliation timing differences that have been identified, provide root cause analysis and to perform write offs when necessary for amounts up to the agreed threshold.

Job Description:
  • Select the most urgent timing difference to work on, based on age of query and any urgent flag set by the team leader/manager
  • Investigate the timing difference and identify the reason for the query resolving without interaction where possible
  • If the payment type required is an inter-account transfer, investigate the query to determine if a payment or reallocation is required to resolve it
  • Where applicable, advise the Payments team of the missing payment
  • Where applicable, advise the Cash Posting team of the misallocation
  • Review and approve write offs, completing the write off in the Policy Administration System (PAS) as required
  • Updating queries cases for those write off that are not approved
  • Where applicable, investigate the root cause of non-compliance, improve the process and reduce CASS breaches
  • Working to agreed Service Levels (SLAs) and quality standards
  • Liaise with Banks and Treasury to aid resolution of banking discrepancies
  • Communicate and build relations with other IBA departments (onshore and offshore) in order to investigate and resolve any aged queries or avoid further delays.
  • Liaise with business units effectively to resolve legacy aged queries or process issues where required, informing relevant management where necessary
  • Willingness and ability to apply existing skills to ad-hoc tasks, as required by management
  • Ensure successful completion of training and assessment exercises as assigned from the Compliance and Training Department
  • Fulfil your responsibilities in line with agreed processes to achieve agreed objectives, and in doing so, ensure compliance with the client and insurer money rules within the FCA Handbook, identifying and recording any breaches of FCA rules

Key Role Accountabilities:

Functional Knowledge/ technical knowledge:
  • Understanding of bank reconciliation concepts and processes
  • Good understanding of IBA Operations concepts and processes
  • Good understanding of Sales-to-Insurer Paid (IBA operations) regulatory requirements including Client Money
  • Familiar with business change methods and practices
  • Familiar with Towergate and IBA compliance policies and standards

Business Expertise:
  • Effective written and oral communication skills
  • Good attention to detail / thoroughness
  • Strong planning and organisational skills
  • Good adaptability, flexibility and resourcefulness
  • Patience

Driving continuous improvement and innovation:
  • Able to investigate the root cause of a problem and rectify it as required.
  • Able to present information in a concise efficient and professional manner to senior management
  • Ability to use existing skills to pick and complete other tasks as required by management

Building self-insight & relationships:
  • Able to build strong relationships with onshore and offshore teams.
  • Build and maintain relationships with senior internal stakeholders.
  • Takes ownership of queries and ensures they are dealt with quickly

Essential Criteria - Must be clearly demonstrated on CV
  • Previous experience in a financial / accounting role

Also essential
  • Microsoft Excel skills to intermediate level
  • Strong organisational skills and attention to detail
  • Strong written and oral communication skills
  • Initiative, proactivity, enquiring approach, resourcefulness
  • Adaptability, ability to embrace and respond positively to change
  • Analytical and investigative skills, logical reasoning and problem-solving skills - individually and collaboratively
  • Ability to work under pressure and in a flexible manner as required
  • Ability to build relationships and influence stakeholders
  • Ability to escalate matters appropriately and professionally
  • Ability to train others
  • Integrity, confidentiality and assertiveness when dealing with complex / business critical issues

Desirable
  • Bank Reconciliation Processes experience
  • Previous bank reconciliations experience in an insurance broking environment

Please apply online

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