Location: TANZANIA
Organization Name: KCB Bank Tanzania - HQ
Department Description
The role has a direct responsibility of ensuring that all the bank’s Agency and Suspense accounts are reconciled in line with existing guidelines on reconciliation.
Brief Description
- Ensure all suspense accounts under reconciliation unit are reconciled on daily basis
- Ensure all outstanding items are shared to respective units for action and rectified within agreed time.
- Ensure that all transactions in the bank’s suspense accounts are properly aged
- Mitigate all risks that may arise from suspense and Nostro & Vostro accounts
Detailed Description
- Reconcile and follow up for action on outstanding items in suspense accounts
- Ensure that all transactions in the bank’s suspense accounts are properly aged, and any items that are non-compliant are specifically raised with the concerned department/Branch.
- Confirm that all transactions involving the In-Transit account are reversed on a daily basis.
- Consolidate all suspense account returns ready for submission to Group Central Reconciliation Centre
- Reconciliation of clearing accounts
- Ensure that the age profile for all suspense transactions is as per set guidelines
- Mitigate all risks that may arise from suspense and Nostro & Vostro accounts
- First contact for all reconciliation matters from the branches, Head office and Group.
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