Reconciliations Manager

Job Family

Finance

Career Stream

Accounting

Leadership Pipeline

Manage Others

Job Purpose

• To ensure the accuracy, integrity, and timely reconciliation of the bank’s financial data by overseeing all reconciliation processes and proactively identifying, investigating, and resolving account discrepancies.
• The Reconciliations Manager collaborates with internal teams, external partners, and regulatory bodies to maintain strong financial controls, uphold compliance standards, and support the bank’s overall financial governance framework.

Job Responsibilities

• Lead and supervise the reconciliation team, providing guidance, training, and performance management.
• Oversee daily, weekly, and monthly reconciliations of all bank accounts, including nostro, suspense, and internal accounts.
• Investigate and resolve unreconciled items promptly and escalate issues where necessary.
• Develop, implement, and enhance reconciliation policies, procedures, and controls to ensure regulatory and internal compliance.
• Coordinate with finance, operations, IT, and other relevant departments to address reconciliation issues and improve processes.
• Prepare and present regular reconciliation reports, metrics, and analysis to senior management.
• Liaise with external auditors and regulators during audits and inspections, providing required documentation and explanations.
• Drive automation and process improvement initiatives to enhance efficiency and accuracy in reconciliation activities.
• Monitor regulatory changes and industry best practices, ensuring the bank’s reconciliation processes remain up to date.
• Ensure data security and confidentiality in all reconciliation-related activities.
• Support the achievement of the business strategy, objectives and values by reviewing Nedbank and Business Unit Plan and ensuring delivered systems, process, services and solutions are aligned.
• Identify training courses and career progression for self through input and feedback from management.
• Ensure all personal development plan activities are completed within specified timeframe.
• Share knowledge and industry trends with team and stakeholders during formal and informal interaction.
• Contribute to a culture conducive to the achievement of transformation goals by participating in Nedbank Culture building initiatives (e.g., staff surveys etc).
• Participate and support corporate responsibility initiatives for the achievement of business strategy (e.g., Green Strategy).
• Seek opportunities to improve business processes and systems by identifying and recommending effective ways to operate and adding value to Nedbank.

People Specification

The ideal candidate should have / be an;

• Strong knowledge of banking processes, financial controls, and both local and international regulatory requirements.
• Proficient in reconciliation software and core banking systems.
• Demonstrated leadership ability with proven experience managing teams.
• Excellent analytical, problem‑solving, and organisational skills.
• Effective communicator with strong interpersonal skills and the ability to collaborate across multiple departments.

Preferred Qualification

• Bachelor’s degree in Accounting, Finance, Banking, or a related field
• ACCA/ CIMA / CA (Z)

Minimum Experience Level

• Minimum of 8 years’ experience in Banking  operations, with at least 3 years in an accounting or similar role.
• 4 years experience in a Supervisory Reconciliation role

Technical / Professional Knowledge

Behavioural Competencies