Financial Transaction Reconciliation Specialist

3 days ago

Bengaluru, Karnataka, India beBeeFinancialReconciler Full time ₹ 90,00,000 - ₹ 1,20,00,000
Job Overview

This position offers the opportunity to contribute to a team focused on financial transaction reconciliation, investigation, and resolution. Key responsibilities include ensuring accurate record-keeping, identifying discrepancies, providing support to colleagues, and liaising with internal and external stakeholders.

Key Responsibilities
  1. Transaction Reconciliation:
  • Perform daily reconciliations of financial accounts to ensure accuracy and consistency.
  • Verify and reconcile bank statements with internal records to prevent errors.
  • Enter non-automatic bank statements into the system for up-to-date records.
  • Conduct cash reconciliations using spreadsheet-based methods.
  • Update cash flows in the back-office system to ensure efficient transactions.
  • Identify and resolve format issues in reconciliations, and follow up on missing statements to prevent discrepancies.
Investigation & Discrepancy Resolution:
  • Investigate and resolve complex payment discrepancies, delays, and failures.
  • Analyse transaction patterns and payment data to identify root causes.
  • Liaise with internal teams and external parties to resolve payment-related issues.
  • Address escalated issues requiring higher levels of expertise.
Client Communication & Stakeholder Liaison:
  • Communicate effectively with internal and external stakeholders regarding payment issues, resolutions, and status reports.
  • Build and maintain relationships with financial institutions to ensure smooth transaction flows.
  • Ensure clear communication with clients regarding payment statuses, discrepancies, and other concerns.
Process Improvement & Efficiency:
  • Analyse matching rates and propose new rules to increase Straight-Through Processing (STP).
  • Identify inefficiencies and recommend improvements to enhance operational performance.
  • Participate in brainstorming sessions and process improvement discussions.
  • Monitor and mitigate risks related to financial crime, fraud, and regulatory breaches.
Team Support & Mentorship:
  • Provide guidance and mentorship to junior staff and analysts.
  • Support Team Leads in managing group tasks and ensuring the team functions efficiently.
  • Act as a point of contact for escalations within the team.
  • Assist in workload distribution to ensure even task handling among team members.
  • Foster an inclusive and collaborative work environment.
Compliance & Risk Management:
  • Ensure all activities adhere to company policies and regulatory standards.
  • Actively engage in ensuring compliance with approval limits and process guidelines.
  • Assist in root cause analysis for errors or Actionable Service Levels (ASLs).
System & Procedure Management:
  • Help facilitate transitions concerning new procedures, systems, or deal flows.
  • Maintain Reconciliation Desk Notes and document processing exceptions and procedures.
  • Support testing of new systems or tactical enhancements.
  • Assist in preparing monthly financial reports and analysing discrepancies.
Ad Hoc Duties & Flexibility:
  • Perform additional duties and responsibilities as assigned by management.
  • Demonstrate flexibility in working across different shifts and providing holiday coverage.
  • Show accountability for the successful completion of assigned tasks.
  • Ensure all tasks under your responsibility are executed within specified approval limits and guidelines.
Team Collaboration & Process Management:
  • Assist Team Leads in managing team operations and ensuring smooth functioning of all processes.
  • Actively participate in team-building activities and contribute to a positive work environment.
  • Showcase ownership of tasks and projects while maintaining clear communication with stakeholders.

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