Reconciliation Officer

4 weeks ago

Lagos, Lagos, Nigeria R-Jolad Hospital Full time

Position Summary:

  • The Reconciliation Officer plays a crucial role in ensuring the accuracy, integrity, and completeness of financial records and transactions through meticulous reconciliation processes

Objective:

  • The Reconciliation Officer will be responsible for ensuring the accuracy and integrity of financial transactions and records through the reconciliation of accounts, statements, and transactions related to the hospital's operations

Performance Responsibilities

  • Perform daily, weekly, and monthly reconciliation of financial accounts, including bank accounts, general ledger accounts, and accounts receivable/payable, ensuring that balances and transactions are accurately recorded and reconciled on time.
  • Identify and investigate discrepancies, variances, and irregularities in account balances, statements, and transaction records promptly upon discovery.
  • Take appropriate corrective actions to resolve reconciliation issues, including researching discrepancies, coordinating with relevant stakeholders, and adjusting records as necessary.
  • Maintain accurate and up-to-date records of reconciliation activities, including reconciliation reports, supporting documentation, and audit trails, to facilitate internal audits, regulatory inspections, and financial reporting requirements.
  • Communicate reconciliation findings, trends, and recommendations to relevant stakeholders, including the clinical team and non-clinical team, Patient Experience, Business Development, Finance, and billing teams clearly and concisely.
  • Collaborate with cross-functional teams to address reconciliation issues, streamline processes, and improve financial workflows through effective communication and collaboration.
  • Implement and enforce internal controls, procedures, and safeguards to prevent fraud, errors, and unauthorized transactions, promoting accountability and transparency in financial operations.
  • Identify opportunities for process improvement, automation, and
  • efficiency gains in transactional workflows and systems, and implement changes to enhance accuracy, productivity, and compliance.

Quality Assurance

  • Verify the accuracy of financial records, statements, and transactions through meticulous reconciliation processes, ensuring that balances and transactions are properly recorded and reconciled.
  • Identify and investigate discrepancies, variances, and irregularities in account balances, statements, and transaction records promptly upon discovery.
  • Ensure compliance with internal policies, procedures, and regulatory requirements governing financial transactions, reconciliation processes, and recordkeeping practices.
  • Ensure that reconciliation documentation is complete, organized, and easily accessible for internal audits, regulatory inspections, and financial reporting requirements.
  • Proactively identify opportunities for process improvement, automation, and efficiency gains in reconciliation workflows and systems.
  • Implement changes and enhancements to reconciliation processes and procedures to enhance accuracy, productivity, and compliance with organizational goals and objectives.

Qualification & Competencies

  • HND/ Bachelor's degree in Social Sciences, Business Administration, or related field.
  • Minimum of 1-3 years of experience in financial reconciliation, accounting, or auditing, preferably in a healthcare or hospital setting.
  • Strong understanding of accounting principles, financial reporting standards, and internal controls.
  • Tech Savy.
  • Demonstrated ability to negotiate terms, and agreements effectively.
  • Proficiency in financial software and systems, including ERP systems, Excel, and reconciliation tools.
  • Excellent analytical skills, attention to detail, and problem-solving abilities.
  • Effective communication and interpersonal skills, with the ability to collaborate across departments and communicate complex financial concepts to non-financial stakeholders

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