Operational Accounting Associate

7 days ago

Bengaluru, Karnataka, India Wells Fargo Full time

About this role:

In this role, you will:

  • Perform complex, operational accounting activities associated with maintaining ledger, customer accounts and developing reports.
  • Provide operational accounting support for internal business groups or operations departments.
  • Review data from the general ledger, unit reports and various systems to ensure accuracy.
  • Recommend, implement, and communicate best practices and procedures for operational or financial control.
  • Provide indepth business review and develop long term strategies to optimize group or company performance.
  • Manage implementation of complex operational accounting projects that have critical impact on the group or company.
  • Gather and review operational or financial data for regulatory reports.
  • Prepare and review account reconciliations and certifications.
  • Review operational accounting procedures, methods, or systems.
  • Identify and resolve complex or unique issues.
  • Review accuracy of data from the general ledger, unit reports and various systems.
  • Collaborate and consult with peers, colleagues, and managers to resolve issues and achieve goals.

Required Qualifications:

  • 5 to 7 years of overall experience in banking industry required.
  • Bachelor's degree in commerce or master's in business administration with finance stream.
  • Knowledge of Corporate Accounting and Controls standards and policies Broad Banking/Financial services experience.
  • Experience in performing various reconcilements such as Cash/Nostros, Suspense and Subsystem.
  • Proven understanding of accounting fundamentals as it relates to Nostros/Cash, Suspense and Subsystem reconcilements.
  • Ability to prioritize work, meet deadlines, achieve goals and work under pressure in a dynamic and complex environment.
  • Detail oriented, results driven, and has the ability to navigate in a quickly changing and high demand environment while balancing multiple priorities.
  • Ability to research and report on a variety of issues using problem solving skills.
  • Proven ability/proficiency with the use of various types of automation.
  • Proven knowledge of IRIS Web/Oracle GL processing.
  • Ability to work both independently as well as within a team environment.
  • Thorough knowledge on Nostro/Vostro, Foreign Exchange, SWIFT
  • Effective oral and written communication skills.
  • Open to any shifts (as applicable for APAC, EMEA, USA & Canada).

Required Qualifications for Europe, Middle East & Africa only:

  • Experience in Operational Accounting, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Desired Qualifications:

  • BCom or MBA (Finance).
  • International Banking Operations Experience.
  • Demonstrated understanding of the Corporate and Accounting Policy.
  • Proven Basic or intermediate Microsoft Excel, Word, and Power Point skills.
  • Proven Basic Excel VBA/Macro Skill will be an added value.

Job Expectations:

  • Perform daily detailed reconciliation for a variety of Commercial Banking business products like Nostro/Vostro, Payments Services, Trade Finance, Foreign Exchange, CDF, CRE, Treasury etc.
  • Perform an end of day balance reconciliation between the "Subsystem (i.e., AIMS, InfoLease, LeaseConnect, Choice, Lucas etc.) and General Ledger".
  • Ensure the daily market fluctuation of a foreign asset/cash accurately recorded within the corporate GL, in US Dollars (Cash Substantiation).
  • Review currency exposure or foreign exchange (FX) risk on the position level and report the valuation results on a regular basis (daily or monthly) based on an internationally accepted accounting principle.
  • Investigate and escalate outstanding items as per accounting standard policy and OOB conditions on timely manner.
  • Bank DDA to GL reconciliations.
  • Reconciliation Open item resolution.
  • Monthend closing & reporting including journal vouchers.
  • Review and Approve documentation for aged items that exceed corporate standard.
  • Monitor and validate daily/monthly reports received and loaded to the system to ensure accuracy in reconcilement and to avoid business impact.
  • Assist with Books and Records month end close for the reconciliation includes detailed Nostro/GL; Subsystem; Cash Substantiation; FX Position; Supplemental (Multiple System Data comparison); Balance Sheet/P&L Certification.
  • Assist with Audit and Operations inquiries and will keep the manager aware of any concerns or special requirements.
  • Follow up on inquiries submitted by various lines of business for resolution or escalation.
  • Analyze multiple system source data and provide the EOD report to Commercial Banking Operations department internal customer timely manner.
  • Work closely with Oversight, Technology and Production Support team to resolve the issues/breaks.

Posting End Date:

Job posting may come down early due to volume of applicants.

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