Momentum Metropolitan – Reconciliations Administrator


Job TitleReconciliations AdministratorJob ID29211
Location
Centurion
Full/Part TimeFull-Time
Favorite Job
Regular/TemporaryRegular
Through our client-facing brands Metropolitan and Momentum, with Multiply (wellness and rewards programme), and our other specialist brands, including Guardrisk and Eris Property Group, the group enables business and people from all walks of life to achieve their financial goals and life aspirations.

We help people grow their savings, protect what matters to them and invest for the future. We help companies and organisations care for and reward their employees and members. Through our own network of advisers or via independent brokers and utilising new platforms Momentum Metropolitan provides practical financial solutions for people, communities and businesses. Visit us at www.momentummetropolitan.co.za
Reconciliations Administrator (#29211) at Momentum Metropolitan
ROLE PURPOSE
Execute the intra liability administration system, and Asset Vs Liability administration system reconciliation processes to ensure that all processed transactions are matched correctly, variances are investigated, and discrepancies are escalated to the correct parties in order to minimize business risks.Perform reconciliations as instructed by underlying clients to/from relevant Fund Managers by performing unit reconciliations (Fund Managers vs line of business system), bank flows vs line of business, client cash reconciliations (line of business system) and Asset vs Liability recons (Client integrity reconciliations) and to ensure daily discipline throughout all the reconciliations, identify and escalate recon breaks for clearance; and support all partner teams in ad hoc enquiries
RESPONSIBILITIES AND WORK OUTPUTS
Across our CIS Manco entities, Asset Manager entities, and Lisp entities :Liability administration System Unit Value Vs Liability administration System Cash
Liability administration System Cash Vs External Bank
Liability administration System Cash Vs Asset administration System Cash
Asset administration System Units Vs Custodian Units
Asset administration System Cash Vs External Bank
Ensuring that all Unit Trust funds are in balance for closing unit balances daily
Reconciling of transactions in above reconciliations that feed from multiple liability system applications, asset system applications, banking systems, and cash flows systems.Assess the root cause of each reconciling item, escalate the root cause to the correct root cause partner, and escalate clearance plan steps to each clearance partner (Internal/external)Manage the process of clearing each outstanding reconciling item by liaising with multiple stakeholders and tracking progress until resolution.Provide input into the Status of Recons risk identification processes by escalating findings regarding Age, nature and amount risk-analysed unmatched transactions, highlighting the risk of financial loss as part of the annotation, and by escalating any deficiencies in partner service to relevant management.Provide monthly reports to various stakeholders, respond to all the associated queries related to transactions forming part of the reconciliations, and provide feedback within the agreed service level.Develop and maintain productive and collaborative working relationship with peers and stakeholders by employing varied communication techniques that suit the various reporting structures, line of business systems, and ways of work.Review the data integrity of bank accounts, money market bank transaction, reconcile the variances, and escalate the issues to the relevant department.Capture interest adjustment transactions on the system based on information reflected on the external Manco or fund manager fund statements and provide timeous feedback to the trading team.Conduct integrity control on clients’ accounts by verifying that the amount paid for unit trusts is matched with the cash flows withdrawn from the clients’ accounts in order to enable the fair treatment of clients.Investigate unidentified or unallocated cash deposits or payments and escalate the findings to relevant departments or root cause partners in service teams.Prepare refund instructions on invalid unmatched cash-flow exception transactions, or unmatched liability admin system transactions and forward them to relevant departments for instruction to banking and cash management team.Identify price corrections In Unit trust instruments held, or in CIS fund itself – and escalate the corrections to relevant departments or stakeholders.Investigate client queries within the agreed service level and ensure that client receives timeous feedback
Escalate client queries to the relevant department or stakeholder
Build and maintain relationships with clients and internal and external stakeholders
Deliver on service level agreements made with clients and internal and external stakeholders in order to ensure that client expectations are managed
Make recommendations to improve client service and fair treatment of clients within area of responsibility
Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service
Continuously develop own expertise in terms of professional, industry and legislation knowledge
Contribute to continuous innovation through the development, sharing and implementation of new ideas
Take ownership for driving career development
Manage financial and other company resources under your control with due respect
Provide input into the risk identification processes and communicate recommendations in the appropriate forum

EXPERIENCE AND QUALIFICATIONS
Bcom (finance major such as accounting, economics or financial management)2 Years’ experience in CIS Manco administration or;2 Years’ experience in LISP Unit trust trading administration

LOCATION
The above-mentioned position is currently available in the Finance department at Momentum Investments based at our office in Centurion.
Please submit your application via our Careers page on www.momentummetropolitan.co.za
To apply, please follow the official system application process and get in touch with the PeopleSoft Helpdesk (021 940 5169) if you need further assistance.
Closing Date
7 July 2020
Contact Details
Nsuku Makwalansuku.makwala@momentummetropolitan.co.za
(The purpose for this email address is solely for queries regarding the advertised position and no emailed CV’s will be accepted. Only online applications submitted via our Careers page will be considered.)
0126718911
All positions will be filled in accordance with our Employment Equity plan.We also encourage people with disabilities to apply.
Apply here: https://careers.momentummetropolitan.co.za/psp/Applicant/EMPLOYEE/HRMS/c/HRS_HRAM.HRS_APP_SCHJOB.GBL?Page=HRS_APP_SCHJOB&Action=U&FOCUS=Applicant&SiteId=1