We are recruiting for a temporary Bank Statement Reconciliation Officer to work within one of the UK's leading Universities.
The post-holder is responsible for reconciling the University's income bank accounts, analysing and accurately processing all transactions within a restricted timescale, which is fundamental to cash flow, VAT returns, credit control and the production of the University's annual published accounts.
Bank Processing; to support the completeness and accuracy of the University's income.
Identify and post all income received on the University's bank accounts promptly, thus ensuring that the financial accounts accurately reflect the University's cash position, which in turn enables decisions to be made on reinvestment of this income.
Manage foreign income, converting and posting transactions in accordance with University policy.
Responsible for assessing those entries that need to be placed in the suspense account, when all possible routes used to identify the payment have been exhausted, in accordance with the Income procedures.
To action web refunds upon receipt of authorised refund forms; using third party systems such as the Online Shop or merchant service sites.
To act as a point of contact for the University Departments regarding funds received directly into the University's income account, giving advice on direct payments when required.
Liaise with the University's bankers and external suppliers to resolve problems.
The incumbent will review and resolve any unreconciled amounts on the monthly bank reconciliation.
Cash Related Activities
Accept cash payments in a face-to-face environment.
Prepare and send cash and cheque income for banking.
Process Inter Account Transfers, using the LloydsLink system.
Prepare bulk cash transfers for cash orders, monitoring the bank account to ensure this is not overdrawn.
Prepare petty cash floats for University departments; requesting specific monies from the University bank.
Income Suspense Accounts
Manage and monitor the income suspense accounts, accurately identifying and posting transactions; using all data provided to recognise senders, liaising with internal colleagues and external contacts as required.
Produce monthly reports and yearly write off proposals.
US Student Loans
Collate and maintain student bank account information, creating beneficiary accounts with Western Union.
Apply a payment plan to the student account to show the balance expected, removing credit control processes where applicable.
Processing draw down requests from the Funding, Graduation and Awards team (FGA), requesting funds from the US governments G5 system (where applicable) and processing disbursements via Western Union.
Ensure adequate audit trail exists between requested amount from FGA and amounts processed.
Ensure that the system is maintained in accordance with the US Loan Process requirements; performing reconciliations with and in conjunction with FGA, resolve discrepancies between amount transferred from G5 and amount available for disbursement in Loan.
If you are interested in this role please apply