Perform daily Nostro account reconciliations across DBS Group, investigate and resolve breaks, manage reconciliation portfolios and GL substantiation, support stakeholders and projects, drive process improvements, automation, and control enhancements for reconciliation lifecycle.
Job Purpose:The Ops COO – Nostro Reconciliation Unit (NRU) unit serves as the central nostro reconciliation hub for DBS group. The team is responsible for two core functions: Nostro Account Reconciliation, ensuring timely reconciliation and investigation of exceptions, and Business Management Support (BMS), which includes static data maintenance, feed management, and MIS reporting.
The primary focus of this role is to support the Nostro Account Reconciliation function, including the execution of daily reconciliations, investigation of reconciliation breaks, and resolution of exceptions. The role also provides opportunities to contribute to process improvement initiatives, system enhancements, and operational excellence across the reconciliation lifecycle.Job Duties & Responsibilities:
The primary focus of this role is to support the Nostro Account Reconciliation function, including the execution of daily reconciliations, investigation of reconciliation breaks, and resolution of exceptions. The role also provides opportunities to contribute to process improvement initiatives, system enhancements, and operational excellence across the reconciliation lifecycle.Job Duties & Responsibilities:
- Perform daily reconciliation for Nostro accounts across DBS Group entities, ensuring completeness, accuracy, and timely resolution of outstanding items.
- Process matching instructions provided by Business Units in accordance with established procedures, controls, and service level agreements.
- Investigate and resolve reconciliation breaks independently, and where required, jointly with Business Units and relevant stakeholders, ensuring timely resolution within the agreed turn-around time.
- Take ownership of assigned reconciliation portfolios and ensure all assigned reconciliations are completed accurately and within agreed SLA timelines.
- Perform monthly General Ledger Account Ownership (GLAO) reconciliations to support account balance substantiation and escalate aged or outstanding breaks to Business Units as appropriate.
- Support Business and Support Units on ad-hoc queries / issues raised and ensuring resolution within reasonable timelines independently
- Develop and maintain a strong understanding of Nostro reconciliation processes, investigation methodologies, controls, and operational risks.
- Partner with stakeholders to enhance reconciliation efficiency through the optimization of matching rules, process improvements, and automation opportunities.
- Enhance Nostro reconciliation automation via close collaboration with stakeholders to create auto-matching rules
- Drive innovation, re-engineer Nostro reconciliation and investigation processes to achieve process standardization and improvement in controls.
- Participate in new business initiatives, projects, and system enhancements by providing operational expertise, assessing reconciliation impacts and requirements, identifying potential risks, and supporting the implementation of agreed solutions.
- Support project-related activities including impact assessment, user testing, change implementation, and post-implementation monitoring to ensure a smooth transition into business-as-usual operations. Identify, assess, and escalate risks, control gaps, and operational issues in a timely manner, and support the execution of appropriate remediation actions.
Requirements:
- Min 3 years of experience in Banking Operations, Finance Operations, Reconciliation, Treasury Operations, Cash Operations, Remittances, or related functions.
- Experience with SmartStream TLM or other reconciliation systems would be advantageous.
- Ability to collect,analyse and interpret data to investigate reconciliation exceptions and recommend appropriate resolutions.
- Strong attention to detail and accuracy.
- Good working knowledge of Microsoft Office applications, particularly Excel. Knowledge of reconciliation tools, data analysis, or automation solutions would be an advantage.
Location:
DBS Asia HubJob:
OperationsSchedule:
RegularEmployee Status:
Full timeDBS Bank Ltd Singapore Office
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