Reconciliation Specialist

Citibank - More jobs by this advertiser
Reconciliation Specialist-19008874

Function Overview


The Global Reconciliation Utility in Chennai is approximately 200 FTE strong and provides Cash, Stock and Sub-system reconciliation to over 180 Legal Vehicles across over 80 countries around the globe. The GRU is a truly global and product agnostic, market agnostic and business agnostic set up. The unit provides highly critical support to all of ICG businesses across EMEA, NAM and India, where delays or failures or any issues in reconciliation could lead to financial, client and regulatory impact for Citi as a whole. Some of the regulatory requirements have very tight deadlines on a daily basis, especially the CASS client money rules laid down by the UK regulator, FCA. GRU reconciles over 25,000 cash accounts and over 115,000 stock accounts with an annual transaction volume upwards of 6 billion. (Data as of Q3 2016)


Job Purpose:


Within the GRU department, this position will work in a team environment and fill the role of Reconciliation Specialist.


Job Background/Context:


ICG (Institutional Clients Group) TTS (Treasury and Trade Solutions) is one of the biggest service recipients of GRU. TTS Cash Management business consists of money flows: companies create products at cost and sell them to generate revenues. The management of these cash flows is a central function for any business. For large corporations, cash flows can be enormously complex, involving many countries and currencies. In addition to simply managing cash flows, we need to take account of time: large amounts of money on deposit can earn valuable revenue even in short periods of time, and surplus cash that is not invested is a waste of resources.  Conversely when companies are temporarily short of cash, cost-effective borrowings allow them to continue doing business. Companies need to manage cash effectively so that they can:

  • Perform their central business functions in an efficient manner
  • Maximize the benefits and reduce the costs from their available cash position

The role of a TTS NOSTRO rep is to reconcile and investigate on the exception for any transaction \ Wire transfers which are effected across Citibank’s 13 branches using Nostro/ Vostro accounts which involves Client\Customer transfers having a direct DDA account or acting as an intermediate bank.

Key Responsibilities:

  • Ensure all Cash fund transfers for a client on a particular day are investigated and reconciled within the time allotted
  • Ensure all control spreadsheets are updated accurately with meaningful comments
  • Ensure anything suspicious or out of ordinary is escalated to the manager without any delay
  • Ensure all e mails received are acted on/responded to without any delay
  • Ensure none of the critical tasks to be completed for the day are missed
  • Ensure to meet SLA (Service Level Agreement) and/or any other timelines/deadlines set out in the process or on an ad hoc basis by managers
  • Ensure all High Value (normally over USD1 Million) and aged breaks (normally over 20 days) are prioritized for action

Development Value:

  • Training, both on the job training and presented training courses
  • Increased Product knowledge
  • Exposure to clients and other departments within Citi
  • This is a great opportunity for a candidate looking to work in a Payments environment
  • The role will provide a high level of exposure to internal clients and enable the candidate to develop their client service skills. This is a necessary requirement for anyone hopingto progress into a more senior role within the Reconciliations department.
  • The position will also help the candidate to enhance their knowledge of the clients supported within the GRU and their overall knowledge of the industry
  • Hone the skills to work in a demanding, time sensitive and risky process

Day In Life Of (DILO) – TTS NOSTRO Rep

An individual is assigned a set of cases that he/she is responsible for Investigating/reconciling. A typical day for a TTS Nostro representative would begin with downloading a report that provides the list of cases that are assigned to him/her. The individual then filters out items based on Value/Currency Cut off and ensures that they are actioned for that particular day and starts to investigate item by item. The time taken to investigate and resolve would vary depending on the complexities of each item. The process of determining the course of action required to resolve the item could involve interacting with multiple teams across Citi and other banks via swift messages or telephone or emails or chat messages. The individual will need to update meaningful comments against each item post the investigation to ensure management or anyone else working on the item in his/her absence is aware of what has been done so far and what needs to be done next to resolve the item. It is imperative to follow the SOP and also escalate lack of clarity in any laid down procedures therein.

The day involves attending calls with onshore partners, colleagues from other teams who interact closely with TTS Nostro, management meetings, updating multiple control spreadsheets maintained by managers for oversight and monitoring and also responding to a number of e mails from various teams. It is experienced that this job is extremely satisfying as it provides a great opportunity to learn a lot about the various payment mechanisms, client behaviour, FX (Foreign Exchange) market etc. and the joy derived post resolving a break is unparalleled. It is not uncommon to face unexpected situations in the form of ad hoc calls or meetings or escalations and needs to be alert, have an eye for detail, be disciplined, responsive and have a passion to excel to be able to succeed in this role.


Person Specification:



  • Must be able to use experience to identify possible issues before they arise and also to be pro-active in resolving such issues
  • Must have the ability to multi-task by taking on extra ad-hoc tasks without letting the day-to-day tasks suffer
  • Ability to liaise with demanding clients
  • Ability to work independently within a team environment
  • Computer literate and good typing skills
  • Knowledge of recon systems including TLM will be an added advantage
  • Experience in Payment flow, process or reconciliation environment preferential
  • Knowledge of Payments/Funds transfer will be an added advantage

Skills & Competencies:

  • Team player
  • Planning and Organizing
  • Analytical/Reasoning
  • Communication/Interpersonal Skills
  • Managing Client Relations - Not fully necessary but would be advantageous
  • Self Motivated/Results-Orientated
  • Displays confidence in dealing with customers and colleagues.
  • Maintains a control focus at all times
  • Must have strong analytical skills and PC skills
  • Must have good communication skills
  • Must have good time management skills
  • Ability to quickly adapt to changing dynamic environments
  • Should be flexible with work shifts and be ready to work in different shifts with short notice

6 April 2019
Location: India Tamil Nadu Chennai
Work type:
Full time
Banking and Financial Services
PLEASE! No enquiries from Recruitment Agencies or Headhunters.

Only direct applications will be considered.

This career opportunity is no longer open.
Please search for current vacancies here.

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