Bank Reconciliations Executive

2 weeks ago

Dubai, United Arab Emirates Al-Futtaim Full time

No two days are the same at Al-Futtaim, no matter what role you have. Our work is driven by the desire to make a difference and to have a meaningful impact with the goal of enriching everyday lives_._ Take our engaging and supportive work environment and couple it with a company culture that recognises and rewards quality performance, and what do you get? The chance to push the limits every single day.

As a humble family business that started on the banks of the Dubai Creek in the 1930s, Al-Futtaim has expanded to a presence in 31 countries, a portfolio of over 200 companies, and 42,000 employees. You’ll find us in industries ranging from automotive and retail, to finance and real estate, and connecting people with international names like Lexus, Ikea, and Adidas. Our team is proudly multicultural and multinational because that kind of diverse representation gives us the global mindset to grow and impact the people, markets, and trends around us.

Come join us to live well, work better, and be the best.

**About the role**

As a member of the Bank reconciliations team you will be supporting the Divisional Finance Controlling teams and the Business Units in ensuring timely reconciliation of the Group’s bank accounts and reporting in relation thereto and also supporting the business units in enhancing customer experience by timely performing the activity of credit confirmations.

**About the responsibilities**

**Receipt of Bank statements and Balance validation**
- Ensure all the Bank statements are received in SAP after due follow-up with the banks as required
- In case of delays in receipt of bank statements or where automated receipt of bank statements is not enabled, manually download the statements from online banking platforms.

In case of Bank statements downloaded manually, ensure that the closing balance of the previous day matches with the opening balance of the current day.

**Reconciliation of bank accounts**:

- Run the scheduler to automatically clear open line items where matching references exist.
- Perform manual matching of open line items wherever possible after ensuring adequate matching criteria exist and due confirmations are obtained

**Reporting of open line items**:

- Ensuring that all the open line items at the end of the day are reported to relevant internal stakeholders
- Business Finance, Divisional Financial Controlling, FSSC-O2C, FSSC- I2P, Global Treasury Centre etc. for timely investigation and resolution.
- Ensuring that any open items that needs investigated at the banks’ end are reported to the banks for investigation and resolution
- Ensuring that any instances of cheque dishonours and amounts debited by bank but not accounted by us are promptly bought to the notice of businesses/other concerned stakeholders.

**Credit confirmations**:

- Ensuring that all queries from business teams in relation to deposit of cash or cheques by customers are reviewed and responded after referring to the online banking reports so that timely delivery of goods/services by business teams is ensured

**Accounting and Audit**:

- Ensuring all bank charges are accounted in consultation with Treasury and FSSC-I2P.
- Supporting internal and external audit processes in relation to bank reconciliations

**About the Requirements**

**Minimum Qualifications and Knowledge**
- Professional accounting qualification
- A bachelor’s degree in commerce/financial management/ accountancy with about three years of experience within the bank reconciliations function of a medium to large organization or banks.
- Analytical, process oriented, good communication skills, exposure to ERP
- Should be able to plan and prioritize tasks, persuasive skills, Kaizen attitude, Self-motivated; and a strong team player.

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