Bank Reconciliation Specialist

Position Objective

The Bank Reconciliation & Allocation Specialist aims to ensure the accurate and timely reconciliation of bank accounts and allocation of cash receipts across multiple regions and business entities. The Bank Reconciliation & Allocation Specialist is responsible for performing daily reconciliations, allocating payments to customer accounts, resolving discrepancies, maintaining data integrity within Certinia, and providing clear, professional support to internal teams and external customers.

Key Responsibilities

Daily Bank Reconciliations

• Perform daily reconciliations for all 150 customer bank accounts across 14 entities and bank accounts, ensuring that all transactions are accurately matched and reconciled within Certinia.
• Investigate and resolve any unreconciled items promptly, including unapplied cash, unmatched debits/credits, and bank errors.
• Proactively identify and escalate long-outstanding or complex reconciliation issues to the relevant finance team members or management.

Cash Receipt Allocation

• Accurately allocate high volumes of cash receipts (from approximately 1700 invoices per month) to customer debtor accounts based on remittances received.
• Liaise directly with customers or internal account management teams to obtain clear remittance advice when necessary.
• Process cash allocations efficiently, ensuring the correct invoice matching and timely update of customer accounts in Certinia.
• Handle partial payments, overpayments, and underpayments, ensuring proper accounting treatment and communication.

Certinia System Management

• Utilize Certinia (formerly FinancialForce) as the primary finance system for all bank reconciliation, cash application, and debtor management activities.
• Leverage Certinia's functionalities to import bank statements, automate matching where possible, and process manual allocations.
• Ensure all data entry and transaction processing within Certinia adheres to established procedures and policies.
• Identify opportunities for system improvements or automation within Certinia to enhance efficiency in cash management.

Query Resolution and Communication

• Serve as a key point of contact for internal and external queries related to cash receipts and bank transactions.
• Communicate effectively with customers, internal finance teams (e.g., Billing, Accounts Payable, Management Accounting), and account management to resolve payment discrepancies and ensure accurate ledger entries.
• Maintain clear and concise records of all communications and resolutions.

Reporting and Analysis

• Prepare daily, weekly, and monthly cash reports and reconciliation summaries for management.
• Assist with month-end and year-end closing procedures related to bank and accounts receivable reconciliations.
• Contribute to the identification of trends in unallocated cash or reconciliation issues, providing insights to improve processes.

Process Improvement and Controls

• Adhere strictly to internal controls and company policies related to cash handling and reconciliation.
• Continuously seek opportunities to improve the efficiency and accuracy of bank reconciliation and cash allocation processes.
• Assist in documenting processes and procedures for cash management.

Compliance & Best Practices

• Adhere to company policies, accounting standards, and regulatory requirements.
• Maintain confidentiality of financial and sensitive data

Qualifications & Experience

• Bachelor's degree in Finance, Accounting, Business Administration, or related field (preferred).
• Minimum 2 years experience in a similar role, with a strong focus on high-volume bank reconciliations and cash allocations/accounts receivable.
• Demonstrable experience with Certinia (formerly FinancialForce) is essential.
• Experience working with multiple entities, bank accounts, and high invoice volumes is critical.
• Background in workforce management, staffing, or services-based companies is advantageous.

Key Capabilities

• Exceptional attention to detail and accuracy: Maintains high standards of precision in processing and reviewing financial information, ensuring records remain accurate and reliable.
• Strong analytical and problem-solving skills: Evaluates data to identify discrepancies, determine root causes, and implement effective solutions.
• Proficiency in Microsoft Excel (intermediate to advanced): Utilises formulas, pivot tables, and other functions to analyse, interpret, and present financial data.
• Excellent organisational and time management skills: Manages high workloads efficiently, prioritising activities to meet strict deadlines without compromising quality.
• Strong communication and interpersonal skills: Engages effectively with colleagues, customers, and stakeholders to clarify information and resolve queries.
• Ability to work independently and proactively: Takes initiative, manages own workload, and seeks opportunities to improve processes and workflows.
• High degree of integrity and discretion: Handles sensitive information with professionalism and in line with organisational policies and compliance standards.