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 and Client requirements.

What you'll be doing

• Oversee and authorise the completion of bank accounts reconciliations, daily matching of outstanding entries and the daily banking journals. Oversee the preparation of bank statements, daily workbook and the Balances Report. Support more junior members of the team with these processes where required. (Legacy & BaNCS).
• Oversee the daily Control Accounts Reconciliations to ensure all the control accounts are correct, any discrepancies have been identified and allocated, and that investigations to resolve are being dealt with promptly. Support more junior members of the team with these processes where required. (Legacy & BaNCS).
• Oversee the daily download of the Financial Reports and perform reconciliations to the Ledger, ensure any differences are promptly identified, investigated and resolved within the agreed SLAs. Support more junior members of the team with these processes where required. (Legacy & BaNCS).
• Oversee the daily Systems Checks to ensure the systems' readiness for the daily work. Support more junior members of the team with these processes where required. (Legacy & BaNCS).
• Oversee the completion of monthly tasks in order to support monthly ledger close activities ensuring the tasks are completed in a timely manner. Support more junior members of the team with these processes where required. (Legacy & BaNCS).
• Review and authorise manual journals where required. (Legacy & BaNCS).
• Oversee the completion of the Operational Loss processes ensuring all losses are properly investigated and reported appropriately within the Client books and records. Support more junior members of the team with these processes where required. (Legacy & BaNCS).
• Review and authorise the tax reconciliations, oversee the payment made to the HMRC ensuring the correct value is paid on a timely basis. Support more junior members of the team with these processes where required. (Legacy & BaNCS).

• Review and authorise Reassurance Reports and reconciliations, as well as premiums and claims settlements to ensure that the premiums and claims are settled correctly. Lead discussions with the Reassurers to resolve any discrepancies and disputes in a timely manner. (Legacy & BaNCS).

• Act as the subject matter expert for all reconciliations and control processes. Train and support more junior members of the Team with all activities, providing guidance and training where required. (Legacy & BaNCS).

• Ensure the daily and monthly deadlines are met and all reconciliations performed are compliance with Client Standards and the Controls Framework. (Legacy & BaNCS).

• Monitor the reconciliations you are responsible for to ensure that they are within the Effective Level of Control ("ELOC") and take action to resolve any items falling outside of ELOC. (Legacy & BaNCS).

• Ensure all tasks and activities performed adhere to the Consumer Duty regulations.

What we're looking for

• 4+ years experience of working within a finance role within Financial Services.
• 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: Lilian Faulkner Email: lilian.faulkner@diligenta.co.uk

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