Operations Reconciliations Specialist

Address:
55 Bloor Street West

Job Family Group:
Customer Shared Services

**Mandate**:

- Responsible for the monitoring and reporting of daily Reconciliation breaks
- The individual is responsible of maintaining a list of breaks, clear identification of break ownership and resolution. This will include Clearing/Cash/DEPO/and Intercompany transactions related to settlements Globally
- Accountable for function that require specialized handling and skills, act as the key point of contact for all breaks with a clear resolution to the breaks
- Act as a key control over the daily reports and the allocation of breaks to the various teams for follow up and resolution
- Interacting daily with various teams in CAD/US and Offshore locations
- Providing monthly metrics reporting to senior management of number of breaks and reasons
- Developing team members with the skillset needed to clear breaks and identifying knowledge gaps with training plans to close out these gaps
- Working closely with Independent Controls Recon team and Accounting team
- Working closely with Intellimatch team and identifying matching rules
- Point of contact for New Business and Project Development where reconciliations are to be built and identify ownership to the reconciliation and the team responsible for clearing breaks
- Providing weekly updates to senior management on # of outstanding items and status
- Following up with Team Leads prior to Monthly Risk Meetings and providing updates in GEMS with a clear update to the Director

**KEY AREAS OF RESPONSIBILITY**
- Product & Process
- Risk & Control
- Business Performance Management
- Direct Reporting
- Process & Change

**Product & Process**
- Manage and resolve day to day issues specific to reconciliations including the resolution of complex internal business partner and/or external customer issues. Escalate more complex issues to senior management if necessary.
- Act as the main escalation point for reconciliation challenges and meet daily deadlines in reporting breaks to team members
- Manage and monitor a complex portfolio of work representing a significant amount of risk.
- Provide a guidance and support to related business unit regarding procedures for reconciliations
- Continuously assess and improve the operational effectiveness of the reconciliation process
- Resolve operating/technical problems. Participate in resolution of problems outside of direct authority
- Handle and resolve complex matters, core business critical issues, disputes, queries and complaints from internal business partners and external customers.
- Ensuring we have clear and documented procedures and processes with control check lists which are saved and used for training and audit purposes.

**Risk & Control**
- Maintain key controls and review process, where applicable, to ensure operating integrity, comply with internal and external regulators, involving an understanding of regulatory and compliance requirements as prescribed for the business unit; provide recommendations and implement corrective actions to ensure adherence as required.
- Identify potential risk situations within the scope of work (e.g. risk assessments), make recommendations and/or escalate to senior management, where appropriate, and ensure contingency plans exist.
- Develop and maintain standards, process and controls in reconciliations in order to minimize loss/risk, ensure all regulatory requirements are met, and safeguard the assets of the Bank.
- Understand risks inherent in area(s) of expertise and take appropriate actions, including accuracy and safeguarding of all documentation and any other requirements to ensure operational integrity is maintained within the business
- Ensure adherence to all aspect of First Principles, our Code of Business Conduct and Ethics Bank standards, policies and procedures (P&Ps) for such things as potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, privacy and disclosure of outside business activities.
- Ensure strict confidentiality is maintained for both customer and Bank information to protect the customer and the Bank and to ensure compliance with Bank P&Ps.
- Contribute to the management of risk and minimize losses through monitoring and controlling various reports and taking appropriate actions, ensuring compliance requirements, audits and verifications are completed in accordance with Bank P&Ps.

**Business Performance Management**
- Deliver exceptional customer service that builds trust through responsive, accurate, consistent, knowledgeable and available services and support.
- Align individual performance goals to team and organizational goals.
- Demonstrate behaviours that are consistent with “Our Way” model and aligned with BMO values.
- P **rocess & Change**
- Identify and recommend business process improvement efforts
- Lead activities as a SME for new work
- Participate in projects
- Manage the coordination of resources