Job description / Role
• Ensure to reconcile Nostro accounts for correspondent banks on regular basis and to have daily reconciliation for suspense accounts and utilities
• Reconcile all Nostro accounts with correspondent banks to ensure un-reconciled items are followed and cleared on time.
• Follow up on un-reconciled items, develop procedures for recovery of claim charges and respond to queries if any to provide clarifications and obtain consent.
• To ensure timely payment to Citicorp and answer all their inquiries promptly and efficiently.
• Follow up all un-reconciled items with the concerned branches and departments to ensure that they are properly reconciled within the recommended timeframe.
• Prepare daily/monthly reports of outstanding items and follow up on outstanding transactions.
• To ensure soft filing of all documents related to refund of funds, all correspondence with Nostro banks.
• To maintain the Nostro agreements file with all the charges updated.
• To prepare analysis of charges from correspondent banks and advice Financial Institution on the same.
• To prepare and send daily report of Nostro balances to Treasury highlighting overdrawn balances if any in particular.
• Maintain high level of customer service by answering inquiries for the accounting entries posted, promptly and efficiently to enhance the customer satisfaction.
• Take on other areas of accountabilities through job rotation within the department to gain wider exposure, experience and knowledge.
• Demonstrates personal responsibility and loyalty to the Company by adhering to corporate principles of business conduct especially in relation to conflict of interest.
Service and Quality
• Ensure all work completed is accurate and well documented
• Attends internal meetings where required and ensure action is taken to resolve any issues within a reasonable timeframe
• Contribute to developing processes/procedures for Finance Reconciliation
• Take active interest to build skills and develop self to hold higher responsibilities
Education and Experience:
• Graduate in Accounting / Finance / Commerce discipline.
• 2 years' experience in finance / accounts functions preferably in a bank
• Knowledge of accounting procedures
About the Company
In 1969, when we at Commercial Bank of Dubai started out little did we know that sheer grit and determination would get us where we are today. An Emiri Decree issued by His Highness the Late Sheikh Rashid Bin Saeed Al Maktoum, the founder of modern Dubai, laid the cornerstone of Commercial Bank of Dubai. We started out as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait. A minority stake was held by a few UAE businessmen.
By 1982, little more than a decade later, we evolved into a National Public Shareholding company. A feat complimented by an exponential increase in the capital base and mammoth restructuring of our operations. The feather in the cap came when the Government of Dubai became a key shareholder.
Over the decades, we have transformed ourselves into a progressive and modern banking institution. We are supported by a sturdy financial base and reigned by a strong and stable management. The proof of which lies with our customers who have stood by us over the years.
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