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Bank & GL Reconciliation Analyst
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Role: Bank & GL Reconciliation Analyst
Skill: Bank Reconciliations, General Ledger
Experience: 4 years to 8 years
Job Location: Pune
Shift: UK Shift
Eligibility Criteria:
- Minimum 15 years of regular, full-time education (10 + 2 + 3)
- Should be flexible with night shifts & rotational shifts
Position Overview:
We are seeking a detail-oriented and analytical Bank & GL Reconciliation Analyst to support reconciliation processes for our Banking, Financial Services, and Insurance (BFSI) clients. The role is responsible for ensuring accuracy and completeness of reconciliations between bank accounts, sub-ledgers, and the general ledger. The analyst will investigate breaks, resolve mismatches, and ensure compliance with financial controls, audit requirements, and regulatory standards.
Key Responsibilities
Bank Reconciliations:
- Perform daily, weekly, and monthly reconciliations of bank accounts across multiple entities.
- Identify and investigate discrepancies between bank statements and internal records.
- Ensure timely clearance of outstanding items, unallocated receipts, and unmatched transactions.
- Liaise with treasury and operations teams to resolve reconciling items.
General Ledger (GL) Reconciliations:
- Perform reconciliations of sub-ledgers (accounts payable, receivable, claims, investments, etc.) with the general ledger.
- Ensure all entries are valid, authorized, and comply with accounting standards.
- Post adjustments, accruals, or corrections to ensure accurate financial reporting.
- Maintain proper documentation and evidence for all reconciliations.
Controls & Compliance:
- Ensure compliance with SOX/ICFR, internal policies, and regulatory requirements for reconciliation processes.
- Maintain audit-ready documentation with clear evidence of review and approvals.
- Support statutory, regulatory, and internal audits with reconciliation reports and explanations.
Month-End Close & Reporting:
- Support month-end closing by ensuring timely completion of all reconciliations.
- Prepare reconciliation dashboards, exception reports, and aging of outstanding items.
- Provide variance analysis and commentary to finance controllers and management.
Process Improvement & Automation:
- Identify recurring reconciliation breaks and propose permanent solutions.
- Support implementation of automated reconciliation tools (e.g., BlackLine, Autorek, ReconArt, Cognix).
- Standardize reconciliation processes across business units to improve efficiency.
Stakeholder Engagement:
- Collaborate with finance, treasury, operations, and risk teams to resolve reconciliation issues.
- Communicate with banks, custodians, and counterparties for transaction clarifications.
- Escalate high-risk reconciliation break s and provide root-cause analysis.
Education:
- Bachelor’s degree in Finance, Accounting, Commerce, or related discipline. CA/CPA/CIMA preferred.
Experience:
- 4–8 years of experience in bank and GL reconciliations within BFSI (banking, insurance, investment, or shared services).
Technical Skills:
- Strong knowledge of reconciliation processes, accounting principles, and financial controls.
- Proficiency in ERP and reconciliation tools (SAP, Oracle, PeopleSoft, BlackLine, Autorek, Cognix).
- Understanding of BFSI-specific transactions such as claims, policyholder funds, investments, and settlements.
Soft Skills:
- Strong analytical and problem-solving abilities.
- High attention to detail and accuracy.
- Good communication and stakeholder management skills.
Key Performance Indicators (KPIs):
- Timeliness and accuracy of reconciliations.
- Reduction in aging of open reconciliation items.
- Number of unreconciled breaks at month-end.
- Compliance with audit and control requirements.
- Stakeholder satisfaction and issue resolution turnaround.
Location
Pune
Job Function
BUSINESS PROCESS SERVICES
Role
Executive
Job Id
384142
Desired Skills
Finance and Accounting
Desired Candidate Profile
Qualifications : BACHELOR OF COMMERCE
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