Junior Reconciliation Associate

Key Responsibilities

• Daily Reconciliations: Assist with the daily reconciliation of bank statements, general ledger accounts, and various payment service provider (PSP) and digital channel accounts.
• Discrepancy Investigation: Identify and investigate discrepancies or variances in financial data and transactions, determine their root causes, and take action to resolve outstanding issues promptly.
• Collaboration & Communication: Liaise and collaborate effectively with internal teams (e.g., product, operations, customer support) and external partners (e.g., banks, payment gateways) to gather information and resolve reconciliation issues.
• Journal Entries: Prepare and post accurate journal entries to correct account balances and ensure compliance with accounting standards.
• Reporting: Prepare daily, weekly, and monthly reconciliation reports for management review, highlighting key insights and outstanding items.
• Documentation & Compliance: Maintain accurate and organized documentation of all reconciliation activities and procedures, ensuring compliance with internal policies and regulatory requirements.
• Audit Support: Support internal and external audit processes by providing necessary documentation and explanations of reconciliation processes and findings.
• Process Improvement: Proactively identify opportunities to streamline reconciliation processes and contribute to the development of best practices and standard operating procedures. 
• Exposure limit analysis: identifying the suitable limits set depending on the bank classification to control losses from unsettled transactions 

Required Qualifications and Skills

• Education: A Bachelor’s degree in Accounting, Finance, or a related field is typically required.
• Experience: Prior internships or up to a year of experience in accounting or finance, particularly with exposure to reconciliation, is preferred.
• Technical Skills: Proficiency in Microsoft Excel, including VLOOKUP and pivot tables, is often necessary. Familiarity with accounting software and the ability to handle large datasets are also beneficial.
• Soft Skills: Essential skills include strong attention to detail, analytical and problem-solving abilities, excellent communication (written and verbal), and organizational skills to manage multiple tasks. The ability to work both independently and collaboratively, along with adaptability to new systems, is also important.