Operation Officer-Reconciliation (Faulu MFB) At Old Mutual Kenya

Job Description

This role is responsible for reconciling bank, alternative delivery channels and control accounts, remitting insurance premium, deposit confirmations.

Reconciliations

Reconcile bank, alternate delivery channels (ADC) and other control accounts.
Ensure that all settlements for transactions through various channels have been made, transfers to respective GLs and bank charges are posted.
Ensure reconciling items are investigated and resolved.
File monthly bank and agency reconciliation reports/statements.
Confirmation & Monitoring of deposits
Daily monitoring of deposits made via third party accounts.
Updating branches on any unposted items.
Bankers /Outward cheques monitoring and banks confirmations.
Client Insurance Fund and Last Expense remittances
Accurate reconciliation of premiums and resolution of any variances.
Client insurance fund remittances to insurers.
Last expense remittances.
Computations and advising on any unutilized credit life premiums.
Anti Money Laundering Policy
Monitor, on a continuous basis, all transactions to ensure that unusual and suspicious transactions are reported to the Money Laundering Reporting Officer (MLRO).
Implementing and enforcing the board approved AML, KYC & CFT policy in as far as is applicable during reconciliations and confirmation of incoming funds.

Reporting

Preparation of ageing reports.
Preparation on other assets and liabilities schedules.
Bancassurance reporting – preparation of schedules of Credit Life, Client insurance fund and Last Expense products.
Other Roles & responsibilities
Liaising with internal and External Auditors in carrying out periodical and Year end Audits respectively.
Preparation of ad hoc or special purpose management reports.

Minimum Qualifications/Experience (Required for The Job)