APA Life Assurance Company Ltd is seeking an Accountant – Bank Reconciliations to manage, prepare, and verify bank reconciliation statements, post necessary adjusting journal entries, and maintain clear ledger controls. The role ensures that company accounts accurately reflect bank transaction records in strict accordance with internal financial controls and regulatory policies.
Key Responsibilities
Bank Reconciliation
- Obtain the bank statement for every active company bank account — including premium collection accounts, operational accounts, investment accounts, and petty cash accounts — and compare each entry against the corresponding entry in the general ledger.
- Prepare a formal bank reconciliation statement for each account on a timely basis, clearly showing: opening balance per bank, closing balance per bank, outstanding deposits, outstanding cheques/payments, unexplained differences, and closing balance per ledger.
- Investigate and resolve all reconciling differences within the agreed SLA. Differences that cannot be resolved within this period must be escalated to the supervisor.
- Ensure that no reconciling item remains unresolved for more than 30 days without documented justification.
Ledger Maintenance & Correction
- Post any adjusting journal entries required to bring the general ledger into agreement with the bank statement — for example, recording bank charges, reversing incorrect entries, or recognizing bank interest — after obtaining the necessary approval.
- Liaise with the Accounts Payable, Accounts Receivable, and Treasury teams to clarify any transactions that appear on the bank statement but cannot be immediately identified.
- Ensure all bank entries in the general ledger are coded to the correct general ledger account and accounting period.
Controls & Compliance
- Ensure the bank reconciliation process is carried out in strict accordance with the company's internal control framework and financial policies.
- Maintain complete, organized, and audit-ready reconciliation files for all accounts, covering the current year and the prior two years as a minimum.
- Support internal and external auditors by providing reconciliation statements, working papers, and explanations of reconciling items as required.
Skills & Qualifications
- Bachelor's degree in Finance, Accounting, or a related field.
- CPA (Part II) or equivalent is an added advantage.
- Minimum 2–3 years of experience in a bank reconciliation, finance, or accounting role, preferably within a regulated financial institution such as an insurance company, bank, or fund manager.
- Demonstrated experience reconciling multiple bank accounts simultaneously.
- Proficiency in accounting software and strong Microsoft Excel skills.
- Solid understanding of general ledger principles, journal entries, and month-end close processes.
- Familiarity with internal controls and audit requirements.
- Accuracy & Analytical Thinking, Persistence, Integrity & Independence, Time Management, and strong Communication skills.
How to Apply
Interested and qualified candidates should apply online via APA Life Assurance Company Ltd on www.apainsurance.org.
