Accountant – Bank Reconciliations
Full time @APA Life Assurance Company Ltd posted 8 hours ago in Business and Finance Shortlist Email JobJob Detail
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Experience 2 Years
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Industry Finance/Banking
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Qualifications Degree Bachelor
Job Description
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KEY PRIMARY RESPONSIBILITIES
Bank Reconciliation
- Obtain the bank statement for every active company bank account — including premium collection accounts, operational accounts, investment accounts, and petty cash accounts — and compare each entry against the corresponding entry in the general ledger.
- Prepare a formal bank reconciliation statement for each account on a timely basis, clearly showing: opening balance per bank, closing balance per bank, outstanding deposits, outstanding cheques/payments, unexplained differences, and closing balance per ledger.
- Investigate and resolve all reconciling differences within the agreed SLA. Differences that cannot be resolved within this period must be escalated to the supervisor.
- Ensure that no reconciling item remains unresolved for more than 30 days without documented justification.
Ledger Maintenance & Correction
- Post any adjusting journal entries required to bring the general ledger into agreement with the bank statement — for example, recording bank charges, reversing incorrect entries, or recognizing bank interest — after obtaining the necessary approval.
- Liaise with the Accounts Payable, Accounts Receivable, and Treasury teams to clarify any transactions that appear on the bank statement but cannot be immediately identified.
- Ensure all bank entries in the general ledger are coded to the correct general ledger account and accounting period.
Controls & Compliance
- Ensure the bank reconciliation process is carried out in strict accordance with the company’s internal control framework and financial policies.
- Maintain complete, organized, and audit-ready reconciliation files for all accounts, covering the current year and the prior two years as a minimum.
- Support internal and external auditors by providing reconciliation statements, working papers, and explanations of reconciling items as required.
ACADEMIC QUALIFICATIONS
- Bachelor’s degree in Finance, Accounting, or a related field.
JOB SKILLS AND REQUIREMENTS
- Accuracy & Analytical Thinking — able to identify discrepancies quickly and trace them to their source.
- Persistence — follows through on outstanding items until they are fully resolved.
- Integrity & Independence — operates as an objective control function, free from conflicts of interest.
- Time Management — delivers reconciliations on tight daily and monthly deadlines without compromise on quality.
- Communication — clearly communicates findings and outstanding issues to management in writing.
PROFESSIONAL QUALIFICATIONS
- CPA (Part II) or equivalent is an added advantage.
EXPERIENCE
- Minimum 2–3 years of experience in a bank reconciliation, finance, or accounting role, preferably within a regulated financial institution such as an insurance company, bank, or fund manager.
- Demonstrated experience reconciling multiple bank accounts simultaneously.
- Proficiency in accounting software and strong Microsoft Excel skills.
- Solid understanding of general ledger principles, journal entries, and month-end close processes.
- Familiarity with internal controls and audit requirements.