Job Summary:
The Account Reconciliation Officer is responsible for ensuring the accuracy and consistency of financial records by performing timely and accurate reconciliations of bank accounts, general ledger accounts, intercompany balances, and vendor/customer accounts. The role plays a key part in maintaining financial integrity and compliance with internal controls and external regulatory standards. The ideal candidate is analytical, detail-oriented, and capable of identifying and resolving discrepancies in financial data.
Key Responsibilities:
- Account Reconciliation
- Prepare and review daily, weekly, and monthly reconciliations for bank accounts, general ledger, receivables, payables, and intercompany accounts.
- Investigate and resolve discrepancies or unusual items identified during reconciliation processes.
- Ensure timely clearance of reconciling items and maintain proper documentation for audit trails.
- Financial Reporting Support
- Support monthly and year-end closing activities by providing accurate reconciliation reports.
- Liaise with internal departments to confirm balances and ensure correct postings in the general ledger.
- Internal Controls & Compliance
- Ensure reconciliations comply with internal accounting policies and regulatory standards.
- Flag potential financial irregularities or control breaches and recommend corrective actions.
- Documentation & Record-Keeping
- Maintain organized and up-to-date reconciliation files for all accounts.
- Prepare working papers and respond to internal/external audit inquiries as required.
- System Support
- Utilize accounting and reconciliation tools (e.g., ERP systems like SAP, Oracle, QuickBooks) to extract data, perform reconciliations, and automate routine processes.
Qualification & Experience:
- Bachelor’s degree or HND in Accounting, Finance, or related field.
- 3 years of experience in account reconciliation, financial analysis, or general accounting.
- Proficiency in Microsoft Excel (pivot tables, VLOOKUP, etc.) and accounting software (e.g., SAP, Sage, QuickBooks).
- Knowledge of financial reporting standards and reconciliation best practices.
Baseline Competency Profile – Account Reconciliation Officer
- Reconciliation Skills
Ability to accurately compare and align financial records from different sources (e.g., bank statements, general ledger, sub-ledgers), identify discrepancies, and ensure proper resolution within defined timelines. - Attention to Detail
Maintains a high level of accuracy when handling numerical data and financial records, ensuring that errors or inconsistencies are identified and corrected promptly. - Analytical Thinking
Uses logical reasoning and critical thinking to interpret financial data, investigate irregularities, and propose appropriate solutions based on analysis. - Accounting Knowledge
Solid understanding of fundamental accounting principles, standards, and practices, especially as they relate to reconciliations, journal entries, and financial reporting. - ERP & Financial Systems Proficiency
Ability to navigate and use enterprise resource planning (ERP) and accounting software (e.g., SAP, Sage, QuickBooks) effectively for data extraction, report generation, and reconciliation tasks. - Communication Skills
Clearly communicates reconciliation findings and outstanding issues to relevant stakeholders, both in writing and verbally, and collaborates effectively with other departments. - Time Management
Effectively manages multiple reconciliation tasks and deadlines, prioritizing work to ensure timely and accurate financial reporting. - Integrity and Confidentiality
Handles sensitive financial information with discretion and upholds high ethical standards in line with company values and regulatory expectations. - Problem-Solving
Demonstrates initiative in identifying the root causes of reconciliation issues, developing practical solutions, and preventing future occurrences.
