Senior Executive - Banking & Bank Reconciliation

The Senior Executive - Banking & Bank Reconciliation at Al Shifa Trust Eye Hospital plays a critical role in managing and overseeing all aspects of bank reconciliation and treasury operations within the organization. This position requires a strong foundation in banking processes, reconciliation techniques, and regulatory compliance to ensure accuracy and integrity of financial data. The candidate must demonstrate expertise in handling large-scale financial datasets and possess advanced skills in Microsoft Excel and accounting software. This role involves working closely with the finance team to maintain seamless reconciliation processes and support treasury functions, contributing to the hospital's overall financial health and compliance. In addition to the technical responsibilities, the Senior Executive leads a small dedicated team of one person, guiding and overseeing their work to enhance efficiency and maintain quality standards. The role demands exceptional analytical abilities, meticulous attention to detail, and proficiency in ERP systems, particularly Oracle ERP's Cash Management module. The ideal candidate will have at least five years of relevant experience in corporate banking or treasury within a large corporate or nonprofit organization, with a degree in Commerce or an MBA in Finance from a recognized institution. This position offers an opportunity to contribute meaningfully to the financial operations of a reputable healthcare provider through expert management of the bank reconciliation process.
Responsibilities

• Manage and execute end-to-end bank reconciliation processes, ensuring all transactions are accurately matched and discrepancies are resolved promptly.
• Oversee the daily operations of cash management, including monitoring bank statements, cash flows, and balances within the Oracle ERP Cash Management module.
• Lead and mentor a junior team member, assigning tasks and providing guidance to ensure timely and accurate completion of reconciliation activities.
• Utilize advanced Microsoft Excel techniques, including VLOOKUP, HLOOKUP, and data analysis tools, to manipulate large datasets and generate detailed financial reports.
• Maintain compliance with internal controls and regulatory guidelines applicable to banking and reconciliation functions, ensuring adherence at all times.
• Collaborate with internal departments and external banks to address reconciliation discrepancies and resolve issues efficiently.
• Prepare periodic reconciliation summaries and reports for senior management, presenting clear insights and highlighting any financial risks or irregularities.
• Implement and enhance reconciliation process management practices, leveraging bank reconciliation software and ERP tools to improve accuracy and efficiency.
• Support audit processes by providing necessary documentation, reconciliation reports, and explanations related to banking transactions.
• Continuously monitor changes in banking regulations and industry best practices to recommend process improvements and maintain compliance.
• Drive data integrity by verifying postings in the General Ledger and reconciling activity between ledger accounts and bank records.
• Analyze financial data trends and anomalies within bank-related transactions to support decision-making and risk management.
• Coordinate with the treasury team to optimize cash management strategies, forecasting cash positions based on reconciliation outcomes.
• Collaborate with the accounting department to ensure synchronization of bank reconciliations with the general ledger accounting system.
• Utilize Power BI and other reporting tools to visualize financial data, improve transparency, and support strategic financial planning.