Job Description

We are currently seeking a Settlement Reconciliation Administrator to join our team.

The Settlement Reconciliation Administrator completes Tru Cooperative Bank (Tru) banking system general ledger reconciliations ensuring the credit union is in compliance with the financial control framework. This role handles all investigations, communicating with branches and internal business units to identify, and resolve settlement issues. This role is also responsible for the ongoing management of outstanding items ensuring pertinent information is uploaded as supporting documentation for auditing purposes.

Here’s what would be included as a part of your typical day

1. Accounting: Prepares banking system general ledger reconciliations within established deadlines, ensuring accuracy, timeliness, completeness and quality of financial information that supports the production of accurate financial statements; carries out daily operational accounting duties, including time-sensitive tasks; and investigates accounting variances, providing adequate support and documentation for review.
2. Processes and Procedures: Responds to banking settlement inquiries; supports branch and shared services staff with processes affecting settlement. Maintain process documentation of role specific functions and communicates processes and procedures as it relates to settlement tasks
3. Risk Mitigation: Completes daily time-sensitive reconciliations (including investigation and resolution) to mitigate risk to Tru membership and the Cooperative Bank. Escalates any concerns of a risk nature (financial, reputational, member) to leadership and/or the appropriate stakeholder
4. Reconciliation Support: Communicates with stakeholders in the branches, and shared services teams on issues/processes that have affected reconciliations, troubleshoots issues, and makes recommendations and requests adjustments as required. Collaborates with team members to ensure that reconciliations are prepared in accordance with accounting policies and procedures, escalates large variances or outstanding variances beyond tolerance levels.
5. Compliance/Internal Controls: Ensures reconciliations are prepared in accordance with policy and procedures and follow up on any corrections to banking system entries in a timely manner. Collaborates with branches and shared services staff to ensure that internal control procedures/compliance are in operation and adhered to and escalates to the appropriate stakeholders
6. Continuous improvement: Seeks opportunities for process and work flow improvement, automation and efficiencies. Makes recommendations for process changes and/or improvements; and participates in any change management process related to accounting or system changes.

Required Skills, Experience & Qualifications

• High school diploma required; diploma in accounting preferred
• 2 years of experience related to banking, administration or accounting and solid understanding of banking system settlement required
• Experience within a financial institution preferred
• Ability to work independently, as well as collaboratively in a team environment
• Ability to perform tasks with little or no supervision within time-sensitive deadlines
• Strong interpersonal and communication skills, both verbal and written
• Working knowledge of banking systems
• Proficient with computer software applications e.g. MS Office, with superior skills in Excel
• Displays an understanding of risk and risk ownership by being able to demonstrate adherence to policies and procedures.