Reconciliation Manager Job Description

Reconciliation Manager Job Description

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Reconciliation manager provides management, leadership and development to the Bank Reconciliation team and ensure accurate and timely completion of daily and monthly reconciliations of all bank accounts.

Reconciliation Manager Duties & Responsibilities

To write an effective reconciliation manager job description, begin by listing detailed duties, responsibilities and expectations. We have included reconciliation manager job description templates that you can modify and use.

Sample responsibilities for this position include:

Lead a team responsible for the development and program management of a consolidated roadmap for all departments across Reconciliation Services (approximately 5 departments, 300+ employees across 5 geographies in 3 different countries approximately 200 staff at an offshore vendor)
Functions as the department liaison with outside vendors (i.e.Vestmark, Fiserv APL)
Be part of the Program management team for the firms Reconciliation Transformation Strategy
Build and maintain strong internal working relationships across the a number of countries and time zones
Be responsible for project management updates for all Listed Derivatives work streams within the program
Success will be measured on the reduction of platforms, breaks, audit points, cost and un-reconciled balances
Identify key productivity measures for NTAM recon and present updates to senior management quarterly
Act as a senior liaison with NTAM, IOO, GFS & Ops and Technology, to ensure proactive management of resources and transforming the practice to a find it / fix it approach
Establish detail process documentation for performing reconciliation and maintain documents to ensure they are current and result in the best operational service and delivery
Establish controls to ensure reconciliation is performed in a timely manner implementing a process to close the book daily

Reconciliation Manager Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Reconciliation Manager

List any licenses or certifications required by the position: CPA, MIT, GLR801

Education for Reconciliation Manager

Typically a job would require a certain level of education.

Employers hiring for the reconciliation manager job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Accounting, Finance, Education, MBA, Business, Economics, Management, Business/Management, Technology, Graduate

Skills for Reconciliation Manager

Desired skills for reconciliation manager include:

Industry developments and trends
Account reconciliation processes
Reconciliation business
Related reconciliation platform will be
Business processes and procedures service and systems
GFAS /GTA an advantage
SOP's and CSA's
Aladdin and Bloomberg
Bank loan
CLOs

Desired experience for reconciliation manager includes:

The jobholder will need to be flexible and able to deal with the ongoing changing needs of the Business in a positive way
Series 63/65 or 66 must be obtained within one year of hire
Proficient in Microsoft Outlook and Office Suite including using Excel, Access
Posses a collaborative, cohesive and participative management style
Maintains all procedures and updates on a quarterly basis for compliance purposes
5 - 7 years in Investment Operations, performing reconciliation, data management and performance

Reconciliation Manager Examples

1

Reconciliation Manager Job Description

Job Description Example
Our company is growing rapidly and is looking for a reconciliation manager. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for reconciliation manager
  • Develop and maintain relationships with external and internal partners and clients
  • Monitor, track and report on performance against service level goals and benchmarks
  • Provide subject matter expertise to business-driven initiatives, internal partners, leadership or projects related to operations as necessary
  • Management of reconciliation functions for Global Reconciliation in Kuala Lumpur
  • Incorporating the best practices across sites/locations
  • Reconciliation training materials incorporation in the Custody Academy and specific training pack for new joiners in Global Reconciliation
  • Liaise with Risk & Compliance Department to ensure policies and procedures pertaining to Global Reconciliation are appropriately implemented
  • Implement the control framework that continuously assesses and mitigates operational risk in operations control
  • Ensure procedures are adequate to ensure compliance with applicable regulatory, audit and risk management requirements & policies
  • Mitigate financial/reputational risk by ensuring appropriate structure, resources, procedures and controls are developed and maintained in compliance with regulatory requirements or company policies
Qualifications for reconciliation manager
  • Resolve or escalate challenges/issues through the established proper channels
  • Test and examine internal processes in order to ensure compliance of business standards
  • Deploy team resources as appropriate to meet business goals and objectives
  • Access confidential CP information, employee data and line of business financial information
  • Establish effective controls and monitor their use to mitigate and remediate risk
  • Solid knowledge of standard desktop applications used by CMG
2

Reconciliation Manager Job Description

Job Description Example
Our innovative and growing company is hiring for a reconciliation manager. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for reconciliation manager
  • Ensure staff training covers jurisdictional specificities of internal clients (London, Lux
  • Ensure transitions of clients and activities are planned & coordinated well in advance with transition/project manager concerned, for seamless transitions
  • Management and reporting of reconciliation activities for the organization in lines with the stringent standards ensuring maximum asset protection for underlying clients
  • Ensure the organizational framework supports the delivery of quality service and operational excellence
  • Support and ensure integrated approach with the segment strategy, new product development and relationship management/client service professionals
  • Continuously review the business’ operational service model and introduce recommendations and implement controlled enhancements as identified across the Global operating model
  • Ensure the matrix details are provided in a timely manner and the narration is valid and provides Management Insight
  • Responsible for operational efficiency of operations control
  • Contributor for operational risk initiatives and mitigation framework for Reconciliation framework
  • Responsible for management of risk and quality related to accurate reconciliation of all items at all times
Qualifications for reconciliation manager
  • Strong planning skills (resource, tactical, input on strategy)
  • Advanced Microsoft Excel and database management skills
  • Identifying appropriate situations for escalations which include recommendations for resolution
  • Maintaining adherence to the Bank’s approved policies and procedures including, but not limited to, daily reporting, transaction authorization limits, periodic audits, internal(audit) and external (regulatory) requirements
  • Assist in leading department activities in the Manager’s absence
  • Excellent problem solving skills including the ability to deal effectively with the majority of escalations to ensure resolution is obtained to the complete satisfaction of all parties involved, the Customer and the Bank
3

Reconciliation Manager Job Description

Job Description Example
Our company is growing rapidly and is looking for a reconciliation manager. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for reconciliation manager
  • Responsible for ensuring accurate transaction, position, and tax lot reconciliation of accounts on various systems
  • Functions as the department liaison with outside vendors (i.e.Vestmark, Fiserv APL, Advent )
  • Participate in enterprise-wide control and governance programs and assist the company to implement control and governance programs from enterprise perspective
  • Involve in projects relating to the enhancement of reconciliation capabilities / processes for all monthly intragroup reconciliations
  • Sets the standard for a client centric service approach
  • Oversees the development of Operational Procedures for the centre of excellence
  • Builds a scalable operation that can ultimately support all BI jurisdictions and can absorb additional volume from any acquisition activity
  • Provide technical expertise in the use of Intellimatch Suite functionality to the teams and business lines
  • Manage communication with Business Segment CFO and Business Sr
  • Implement reconciliation governance process for all securities operations
Qualifications for reconciliation manager
  • CA/CWA/MBA with 9-10years / Graduate or Post-Graduate with 12-15 years experience in operations
  • Prior experience in OCM role
  • Training or Certifications in Business Continuity Planning (CBCP or MBCI)
  • Directly supervise team of 5 employees working closely with Manager of Payroll Operations
  • Topline responsibility for all accounting and tax aspects of North American Payroll
  • Dotted line responsibility for US Expatriate and Global Payroll function
4

Reconciliation Manager Job Description

Job Description Example
Our innovative and growing company is hiring for a reconciliation manager. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for reconciliation manager
  • Coordinates and validates membership reporting
  • Acts as a liaison between the Medicaid Premium Reconciliation Organization, Medicaid Enrollment and Health Plan associates and members to facilitate the resolution of issues and create a flow and exchange of information
  • Participates in cross functional team meetings and problem resolution activities
  • Support budget and resource planning across projects
  • Escalates issues accordingly
  • Timely performance of daily/monthly General Ledger and Custodian reconciliations and promptly escalation of reconciliation outages to Business Units
  • Monitor and follow through of the reconciliation outages till closure
  • Perform UAT Testing of new General Ledger as and when required
  • Maintain & document reconciliation process procedures
  • Managing the day to day responsibilities of a team of 4 to 5 employees
Qualifications for reconciliation manager
  • Work closely with Corporate Tax , Corporate Finance, Treasury and Legal to ensure compliance with all US regulations and improve/modify processes where needed
  • Provide support for enterprise-wide initiatives and take lead for Payroll related impact
  • Determines and executes solutions to daily processing issues
  • Recommends systems and procedural enhancements and assists in the development, testing, and implementation of solutions
  • Responsible for ensuring annual payroll tax reconciliation is timely and accurate
  • Responsible for various Benefit and non-benefit funding
5

Reconciliation Manager Job Description

Job Description Example
Our company is looking for a reconciliation manager. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for reconciliation manager
  • Completing daily, weekly, and monthly QA of functions performed on the team and within department
  • Delivering business results and creating a work environment that promotes employee engagement
  • Setting clear expectations and consistently providing information, resources, feedback, coaching and recognition that helps employees improve their performance
  • Developing necessary process improvements, communications and effective working relationships that establish accountability and positively impact Asset Reconciliation and business partners
  • Projects that are often broad in scope and require strategic thinking skills, tactical execution and implementation
  • Responsible for overseeing the revenue reconciliation process for Medicare Advantage products, including the complete reconciliation and notification to CMS of discrepancies
  • This position will oversee reconciliation processes associated with MSP, MMR, PDE, and Encounter data
  • Reviewing special status processes to ensure all submissions are accepted and processed accurately, and the attestation of discrepancies submitted to senior management on a monthly basis
  • Developing reports to be used by senior management
  • Identifying appropriate reconciliation process to resolve data discrepancy and collection of appropriate data to submit and resolve discrepancy, particularly on special member classes like ESRD and hospice
Qualifications for reconciliation manager
  • Establishes uniform methods and practices, including work flow, time frames, performance standards, and business practices to enable all associates to be paid with appropriate controls and accurate charging to proper fund source
  • Ensures the timely and accurate processing, delivery, and reconciliation of all payrolls
  • Participates in system enhancements and upgrades testing to validate expected functionality as designed
  • Must have 5-10 years of payroll operations experience with 2 or more years in a supervisory capacity
  • Experience with payroll tax and accounting and must have both federal and state fillings working knowledge
  • Exposure to state and local taxation

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