Bank Reconciliation Specialist

Position Objective

Bank Reconciliation & Allocation Specialist

Key Responsibilities

Daily Bank Reconciliations

• Perform daily reconciliations for all 150 customer bank accounts across 14 entities and bank accounts, ensuring that all transactions are accurately matched and reconciled within Certinia.
• Investigate and resolve any unreconciled items promptly, including unapplied cash, unmatched debits/credits, and bank errors.
• Proactively identify and escalate long-outstanding or complex reconciliation issues to the relevant finance team members or management.

Cash Receipt Allocation

• Accurately allocate high volumes of cash receipts (from approximately 1700 invoices per month) to customer debtor accounts based on remittances received.
• Liaise directly with customers or internal account management teams to obtain clear remittance advice when necessary.
• Process cash allocations efficiently, ensuring the correct invoice matching and timely update of customer accounts in Certinia.
• Handle partial payments, overpayments, and underpayments, ensuring proper accounting treatment and communication.

Certinia System Management

• Utilize Certinia (formerly FinancialForce) as the primary finance system for all bank reconciliation, cash application, and debtor management activities.
• Leverage Certinia's functionalities to import bank statements, automate matching where possible, and process manual allocations.
• Ensure all data entry and transaction processing within Certinia adheres to established procedures and policies.
• Identify opportunities for system improvements or automation within Certinia to enhance efficiency in cash management.

Query Resolution and Communication

• Serve as a key point of contact for internal and external queries related to cash receipts and bank transactions.
• Communicate effectively with customers, internal finance teams (e.g., Billing, Accounts Payable, Management Accounting), and account management to resolve payment discrepancies and ensure accurate ledger entries.
• Maintain clear and concise records of all communications and resolutions.

Reporting and Analysis

• Prepare daily, weekly, and monthly cash reports and reconciliation summaries for management.
• Assist with month-end and year-end closing procedures related to bank and accounts receivable reconciliations.
• Contribute to the identification of trends in unallocated cash or reconciliation issues, providing insights to improve processes.

Process Improvement and Controls

• Adhere strictly to internal controls and company policies related to cash handling and reconciliation.
• Continuously seek opportunities to improve the efficiency and accuracy of bank reconciliation and cash allocation processes.
• Assist in documenting processes and procedures for cash management.

Compliance & Best Practices

• Adhere to company policies, accounting standards, and regulatory requirements.
• Maintain confidentiality of financial and sensitive data

Qualifications & Experience

• Bachelor's degree in Finance, Accounting, Business Administration, or related field (preferred).
• Minimum 2 years experience in a similar role, with a strong focus on high-volume bank reconciliations and cash allocations/accounts receivable.
• Demonstrable experience with Certinia (formerly FinancialForce) is essential.
• Experience working with multiple entities, bank accounts, and high invoice volumes is critical.
• Background in workforce management, staffing, or services-based companies is advantageous.

Key Capabilities

• Exceptional attention to detail and accuracy:

  Maintains high standards of precision in processing and reviewing financial information, ensuring records remain accurate and reliable.

• Strong analytical and problem-solving skills:

  Evaluates data to identify discrepancies, determine root causes, and implement effective solutions.

• Proficiency in Microsoft Excel (intermediate to advanced):

  Utilises formulas, pivot tables, and other functions to analyse, interpret, and present financial data.

• Excellent organisational and time management skills:

  Manages high workloads efficiently, prioritising activities to meet strict deadlines without compromising quality.

• Strong communication and interpersonal skills:

  Engages effectively with colleagues, customers, and stakeholders to clarify information and resolve queries.

• Ability to work independently and proactively:

  Takes initiative, manages own workload, and seeks opportunities to improve processes and workflows.

• High degree of integrity and discretion:

  Handles sensitive information with professionalism and in line with organisational policies and compliance standards.