About This Role
Summary of the role
The Financial Control & Reconciliation Utility is responsible for ensuring the accuracy and integrity of financial records and transactions within our Client's organisation. The primary goal of this function is to process payments, receipts and distributions as well as identify and resolve any discrepancies or errors in financial records. This is important for maintaining the reliability of financial information, facilitating proper financial reporting, and ensuring compliance with regulatory requirements.
This role is within the Reconciliations Team for the Life & Pensions business (Legacy & BaNCS), which is responsible for completing daily reconciliations, identifying and resolving discrepancies, documenting findings, and working closely with Operations to implement corrective actions. The Team also provides support for month-end ledger processes and controls, ensuring that all transactions are accurately accounted for and
correct financial reporting is completed within the agreed SLAs and in line with regulatory requirements and Client Standards.
Please note, as this is a people leadership role the successful applicant will be supported to succeed in their new role through enrolment in the appropriate level of our Diligenta Leadership 'Step' Pathway (subject to eligibility criteria), designed to drive quality and consistency across the organisation.
What you will be doing
- Lead and line manage a Life & Pensions Reconciliations Team of up to 7 Reconciliation Analysts and Senior Reconciliation Analysts who are specialised in the BaNCS or Client Legacy Systems and Processes. (Legacy & BaNCS).
- Day-to-day management of team workload and task allocation, ensuring that all work is completed within agreed SLAs and in line with regulatory requirements and Client Standards.
- Act as point of reference for issues and queries relating to reconciliations and controls. Work closely with Reconciliations Analysts and Senior Reconciliations Analysts to ensure timely and accurate reconciliations are completed. Take ownership of resolving complex issues escalating when needed (Legacy & BaNCS).
- Ensure all daily, weekly and monthly controls are completed and that the appropriate Control Reports are created and approved. (Legacy & BaNCS).
- Conduct Quality Checking on the team's work ensuring full compliance with regulations and minimising the risk of SLA breaches. Provide feedback to Team Members and the Team Manager where necessary.
- Lead the training of Team Members ensuring each has a Development Plan in place. Take ownership for ensuring that the Team's coverage of skills and processes is at a sufficient level.
- Deliver regular reviews of the Reconciliations Team's Procedure Guides ensuring that they are correct and up-to-date. Take ownership for updating the Procedure Guides when a change to the process is made.
- Assist the Reconciliations Team Manager in delivering any change or incidents impacting the Team.
- Provide input to the Team Manager to enable the establishment of robust controls as well as improving the Reconciliations Team processes and procedures (Legacy & BaNCS) to ensure full compliance with regulatory requirements and Client Standards.
- Act as a Subject Matter Expert for all reconciliations and controls and build the level of capability across Financial Control & Reconciliation Centre of Excellence to ensure that a high quality service is delivered.
- Provide support to the Reconciliations Team Manager for all internal and external audits.
- Monitor all the reconciliations the team is responsible for to ensure that they are within the Effective Level of Control ("ELOC") and any items falling outside of ELOC has been investigated and there is a corrective action plan in place to resolve them.
- Ensure all tasks and activities performed adhere to the Consumer Duty regulations.
What we are looking for
- 4+ years experience of working within a finance role within Financial Services.
- Knowledge of BaNCS or Client Legacy Systems.
- Accountancy qualification or studying towards the qualification, or qualified by experience.
- Outstanding organisational skills, ability to plan workloads and delegate tasks.
- Expert in MS Excel and Word.
- A systematic, disciplined and analytical approach to problem solving, supported by strong interpersonal skills
- Ability to apply different techniques to resolve issues
- Use clear and effective verbal, written and presentation skills, demonstrating the ability to communicate at senior levels within the team and the wider teams
- Ability to self-manage, work effectively under pressure and manage to tight deadlines.
- Strong attention to detail, good fact finding skills and ability to make evaluative judgments based on both quantitative and qualitative information.
- Strong knowledge of Finance and Accounting principles, practices and compliance requirements for the UK and Ireland.
- Knowledge of financial services (in particular Life & Pension) processes and regulations.
The hiring manager to contact is: Carolyn Green
Email: carolyn.green@dgaviva.com
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