Officer, Processing & Clearing at Standard Bank Group

Job Description (adsbygoogle = window.adsbygoogle || []).push({}); Standard Bank Group is the largest African banking group by assets offering a full range of banking and related financial services. “Africa is our home, we drive her growth” Our vision is to be the leading financial services organisation in, for and across Africa, delivering exceptional client experiences and superior value. This sets the primary goals and standard of excellence we intend to achieve in the medium term. With a heritage of over years, we have an on-the-ground presence in 20 countries in sub‑Saharan Africa; fit-for-purpose representation outside Africa; and a strategic partnership with the Industrial and Commercial Bank of China (ICBC). In line with the realities of risk, regulation, technology and competition that characterise our operating context, we continue to invest significantly in our diversified operations; our people and culture; our systems and infrastructure; and our brand. In doing so, we understand that our commercial success and social relevance over the long term depends on placing our clients at the centre of everything we do, and ensures that the outcomes of our activities are a catalyst for growth on this continent we call home. The long-term foreign currency ratings for The Standard Bank of South Africa, the single largest operating entity within the Standard Bank Group, are: Fitch Ratings BBB- (negative), Moody’s Baa2 (negative) and Standard & Poor’s BBB- (negative). The group is listed on the JSE Limited, share code SBK, and the Namibian Stock Exchange, share code SNB. The largest bank in the world, ICBC, is a 20.1% shareholder in the group. Other than the 20.1% ICBC shareholding, 32.9% of Standard Bank’s shareholder base is foreign. We subscribe to the Code of Banking Practice, a set of principles governing banking in South Africa and ensuring the highest standards of professionalism, integrity and fairness.Job purpose To receive instruments, customer instructions and process transactions in the most efficient manner adhering to the laid down policies and procedures.The candidate should have knowledge of KBA clearing rulesThe officer will be accountable for processing of transactions of a financial and non-financial in nature.The overall objective of the role is to provide day to day operations support in alignment with bank policies and procedures. Key Responsibilities Ensure adherence to all routine control guidelines and proceduresEnsure costs are kept to a minimum and identify any other avenues of cost reductionSupport in testing, implementation, and application of business projects.Ensure efficiency and timely execution of all duties as per TAT and SLAs in placeTeamwork- Ability to back up all team members, regular rotationKeep self-updated by attending regular relevant trainings as provided by People & Culture learning and development and within the unit.Effective leave plan and management.Problem solving on challenges faced, escalating where necessary.Taking ownership on all duties assigned. Duties:Inward Clearing Receipt of files from CBK (Sybrin system) – Confirm all files received and extract settlement report.Import files into CTS and confirm that all files are read in successfully.Identify any exceptions of items not read in and save the data to aid in investigation.Check the balances against CBK settlement report and or response files.Generate files into T24 and monitor the upload progress to completionOn upload completion, advise Data Centre to generate referral reports for Credit evaluationAction all other exceptions that have defaulted into the inward clearing suspense accounts or failed post – post settlement figures from CBKReceive and process credit card referral report from Credit departmentGeneration of unpaid files and submission to Sybrin ACHBalance and reconcile all inward and outward accounts as assigned.Raise clearing issues arising with team leader and technologyAttend to queries arising from Branches, Customer Care and CustomersMonitor system behaviour and promptly alert the technical teams for quick resolution in cases of errors/ downtimePost all previous day’s outward exceptions as advisedRetrieve all items not actioned sent out in previous day’s batchInward direct debit mandate management – receipt of mandates, acknowledgment, and transmission.Maintain proper records for documents handled- either in soft or hard copies.Giving timely feedback to all stakeholders on items sent for action to clearing. Outward Clearing Review incoming emails for any items requiring action, attend to all those that are pendingConfirm closing balance against opening balances.Receive and confirm bags from branchesAcknowledge items and send back confirmed schedules, retaining a copyRun extraction ProcessReconcile extracted files against clearing accounts (Model Bank Statements)Import outward EFT credit file and EFT debit file to Sybrin CTS systemIdentify exceptions and investigateRetrieve exceptions and action as appropriateLiaise with I.T for system hand over and any I.T challengesLiaise with branches on processing issuesReprocess any cheque exceptions into Sybrin CTS systemBalance and import outward files into Sybrin CTS systemReconcile Sybrin CTS system and core banking – (Model Bank) PositionsGeneration of files from Sybrin CTS system to Sybrin ACHSend the files to CBKReconcile outward clearing accounts.Report and escalate any clearing issues arisingSend necessary feedback stakeholdersSend outward reconciliation position to the clearing, reconciliation and payments managersMonitor systems and escalate promptly where further intervention is required.Confirm all items for re bank have been actioned by end of day.Proper filing and record keeping of all outward documents – schedules from branches, G4S. RequirementsQUALIFICATIONS Type of qualification: First DegreeField of study: Business Commerce Other qualifications Banking qualifications an added advantageBasic Accounting Experience Working knowledge relating to organizational and clearing processing in a service-oriented environment.2-4 years’ experience in Clearing (ACH) which includes product knowledge in Cheque clearing, EFT,s and Direct debits)Experience in Reconciliations and settlementsThe candidate should have sufficient understanding of KBA rules on clearingSybrin and T24 knowledge will be an added advantage