Position Goal
National Banking Corporation has an ambitious growth strategy to become a full-service commercial bank. It is driving transformational change across its business with a strong focus on innovation and diversification. The bank aims to deliver a leading-edge customer service experience to more individual and small-medium business customers that will positively impact the financial services sector and help drive Papua New Guinea’s economic prosperity.

Reporting to Senior Manager International Operations, the FX Reconciliation Officer will play a crucial role in ensuring the accuracy and integrity of financial transactions across our global banking operations.

You will be responsible for reconciling accounts, investigating discrepancies, and collaborating with various departments to maintain compliance with international banking regulations. Your attention to detail and analytical skills will help safeguard the organization’s financial assets while enhancing operational efficiency. Ensure efficient and accurate reconciliation of FX related transactions, maintaining high quality service levels, and implementing best practices to support the Treasury team, our nationwide Branch network & the Relationship Managers in achieving its objectives.

Key Result Areas

• Conduct daily, and monthly reconciliations of international GLs, including but not limited to Nostro accounts, interbank transactions, and foreign currency
  settlements.
• Identify, investigate, and resolve discrepancies in financial records, working closely with internal teams and external partners to ensure timely resolution.
• Prepare and maintain detailed documentation of reconciliation processes,
  investigations, and resolutions for audit and compliance purposes.
• Collaborate with Treasury, Operations, and Compliance teams to ensure that all transactions adhere to regulatory standards and internal policies.
• Analyze reconciliation data and provide insights and recommendations for
  improving processes and systems to enhance accuracy and efficiency.
• Assist in the preparation of reports related to reconciliation activities for
  management review and strategic decision-making.
• Assist with audits by providing necessary documentation and data related to
  reconciliations and account balances.
• Stay current with industry best practices and regulatory changes impacting international financial transactions and reconciliations.

Accountability:

• Operational Effectiveness
  • A high level of customer service and adherence to internal
    processing requirements. Minimization of rework.
  • Effective stakeholder management for both internal and external
    stakeholders ensuring issues, complaints, concerns, or requests
    are managed within the agreed service levels.
  • Be receptive, flexible, and proactive to any urgent business request
    outside of service level agreements.

• Shareholder return
  • Achievement of expenditure objectives and revenue targets. Nil
    compliance breaches.
  • Ensure effective cost management by monitoring expenses. Nil
    Non-Lending Loss [NLL].

• People
  • Build & maintain the rhythm of teamwork.
  • Establish and maintain customer relationships.
  • Serve as an organization's culture builder, having a high-quality output within agreed service levels.

• Customer
  • Maintain operational efficiency to drive superior customer service
    and conduct support sales drive campaigns to boost income targets.
  • Develop and maintain a requisite level of knowledge on regulatory
    requirements and standards across each of the relevant regulatory
    regimes.
  • Report any suspicious matter or malicious activity concerning customers account/transactions to Risk & Compliance team.

Qualifications and experience

• Tertiary qualification in Finance, Accounting, Business Administration, or a related field.
• Minimum of 3-5 years proven experience in FX reconciliation, accounting, or
  finance within the banking or financial services industry, with a focus on
  international operations preferred.
• Strong analytical and problem-solving skills to effectively address discrepancies and suggestions for process improvements.
• Prepare and maintain detailed documentation of reconciliation processes,
  investigations, and resolutions for audit and compliance purposes.
• Strong understanding of international banking compliance & regulatory
  requirements, and the best practices.
• Excellent attention to detail, accuracy, and organizational skills, with the ability to manage multiple tasks and deadlines.
• Strong communication skills, both written and verbal, to liaise with internal teams and external stakeholders effectively.
• Proficient in financial software and MS Office Suite, particularly Excel; experience with reconciliation tools is an advantage.

Skills and abilities

• Critical thinking and the ability to think strategically of data and distil key points to assist management to analyze risk.
• Exceptional interpersonal skills, incorporating oral and written communication and negotiating skills demonstrating the ability to interact effectively with others and influence outcomes.
• Keen business acumen – sound business and financial judgment combined with problem solving abilities.
• The ability to deal with a multitude of issues yet remain objective and be able to call issues, challenge and be direct when needed.
• Have an active communication and knowledge sharing style.

Knowledge

• Knowledge of how value is created for employees and stakeholders.
• Knowledge of the regulatory environment.
• Knowledge of relevant industry standards and practices.