Senior Reconciliation Officer

This role involves analyzing and verifying financial data, reconciling financial data across the general ledger and subledgers, identifying discrepancies within and resolving issues to maintain the integrity of financial transactions.

Stewart's Automotive Group is seeking a highly skilled, results oriented and strategic thinking individual to fill the position of:

SENIOR RECONCILIATION OFFICER

POSITION SUMMARY:  The Senior Reconciliation Officer plays a critical role in assisting the business with maintaining accurate and efficient financial record keeping and reporting within the organization. This role involves analyzing and verifying financial data, reconciling financial data across the general ledger and subledgers, identifying discrepancies within and resolving issues to maintain the integrity of financial transactions. The Reconciliation Officer collaborates with various departments to ensure accurate and timely reconciliation of accounts, contributing to the overall financial stability and compliance of the organization.

 PRIMARY RESPONSIBILITIES

ACCOUNT RECONCILIATION

Perform Monthly Reconciliations of the Company’s General Ledger Account’s, including Bank Accounts, Vendor Accounts, Customer Accounts & Other Ledger Accounts.

• Summary of duties Re: Balance Sheet
  • Perform the monthly reconciliation of the companies’ bank accounts.
  • Analyse the financial data to identify trends, anomalies, and irregularities.
  • Reconcile Cash book entries with the bank statements.
  • Advise senior management of discrepancies and errors found on the bank statements and ensure that these are followed- up with the Bank to ensure resolution and correction.
  • Communicate discrepancies seen on the General Ledger with internal stakeholders, follow up to ensure these are resolved/corrected by the respective personnel.
  • Identify bank charges, stale dated cheques and prepare journals accordingly.
  • Post Journal entries to the General Ledger
  • Submit completed bank reconciliations to Senior Management, detail reconciliation findings and highlight potential areas of concern.  Follow up to ensure review and signoff before month end closure.

• Summary of duties Re-Vendor & Customer Accounts
  • Perform the monthly reconciliation of Top Vendors and Customer Accounts.
  • Analyse the financial data to identify trends, anomalies, and irregularities.
  • Ensure monthly statements from vendors are received. Reconcile the company’s vendor subledger to the vendor statements received. Highlight discrepancies on both and follow up with internal stakeholders to ensure they are resolved/corrected by either the vendor or internally.
  • Ensure monthly statements are prepared for top customers. Reconcile the customer subledger to statements received from the customers. Highlight discrepancies on both and follow up with internal stakeholders to ensure resolution and correction by either the customer or internally.
  • Submit completed vendor and customer reconciliations to Senior Management detailing reconciliation findings and highlighting potential areas of concern.  Follow up to ensure review and signoff before month end closure.

• INTERCOMPANY 
  • Reconcile designated inter-company/related party balances to the general ledger, ensure amounts due to/from are reconciled.
  • Prepare and/or reconcile intercompany statements daily.
  • Review inter-company postings to ensure accuracy and completeness.
  • Ensure written communication is sent to the Accounts Payables Team & other Internal Related Party advising of exceptions/differences and requesting confirmation of completion of adjustments.  Verify correct posting to general ledger.

 GENERAL ACCOUNTING RESPONSIBILITIES 

• Identify opportunities for improving, streamlining, and automating reconciliation processes.
• Contribute to the development and implementation of best practices to enhance the accuracy and efficiency of reconciliation procedures.
  • Assist in coordinating preparation for yearly audit / audit schedules for other related General Ledger accounts as requested (maintained monthly in preparation for audit). 
  • Comply and assist in implementing systems of controls, procedures, and processes to safeguard the company’s assets and ensure its profitability. 

 REQUIRED QUALITIFIATIONS & SKILLS

• Bachelor’s degree in Finance, Accounting, Business Administration, or a related field.
• Proven experience in Financial Reconciliation or Accounting roles.
• Strong analytical and problem-solving skills.
• Proficiency in using software and tools, Including Excel & Accounting packages.
• High attention to detail and accuracy.
• Excellent communication and interpersonal skills.
• Appropriate handling of sensitive information
• Ability to work collaboratively in a team environment.
• Knowledge of financial regulations and compliance standards is a plus.