Senior Reconciliation Officer - 12 months fixed-term contract
Purpose of the Job
Quintet Private Bank is a leading private bank in the wealth management sector; we are committed to our clients and their families, and pride ourselves on our personalised service based on a deep understanding of what clients want to achieve.
We are a bank headquartered in Luxembourg , with branches in Germany, Netherlands and Belgium and a subsidiary in the UK and supervised by the CSSF with an ambition to stay true to our purpose to be the most trusted fiduciary of family wealth. When you join Quintet you are joining a company that values diversity of background, equal access to opportunities, career development, collaboration and inclusiveness. We want our employees to feel proud of being part of a company that is committed to do the right thing. You will have the opportunity to grow your career while developing personally and professionally through various resources and programmes.
For an interim period (about 1 – 1.5 year), the selected candidate will help the Head of Group of payments to coordinate & supervise the reconciliation activities from a functional perspective, ensuring compliance with legal, regulatory, and commercial requirements, and maintaining high standards of client service, quality, and cost-efficiency. She/he will also support and lead transformation initiatives for the assigned functional team, including process streamlining, harmonization across all locations, and cost-saving measures, but also make sure to support the Head of Group - Payments Operations and Reconciliation in continuous improvement, alignment and harmonization initiatives for processes & respective controls within the functional area and across all group locations (where applicable).
Key Accountabilities
- Support Day-to-Day Business-as-Usual (BAU) Operations: supervise the reconciliation of Cash & Securities Nostro accounts held by the Bank and subsidiaries (Group-level activity) for its clients and for itself throughout a worldwide network of many diverse custodians and business partners. Ensure to provide on time and exhaustive reconciliation and to manage volumes to minimize backlog
- With the other senior officers in the team, be responsible of the daily reconciliation; the analysis of discrepancies, the close follow-up of breaks and the escalation when needed
- Stakeholder Support: Support the Head of Group - Payments Operations and Reconciliation as point of contact between the operations division and key stakeholders. Facilitate effective communication and collaboration to align operational activities with business objectives. Provide regular updates and reports to stakeholders on operational performance and initiatives.
- Coordinate operational business entities from Quintet and local entities to steer global progression, solve identified reconciliation breaks and proactively lead workshops to structurally enhance business flows efficiency and minimize associated risks
- Strategic Transformation Initiatives: Help the Head of Group Payments leading and implementing strategic transformation projects to enhance operational efficiency and effectiveness. Identify opportunities for process streamlining and harmonization across all locations. Drive cost-saving measures and ensure alignment with internal and external client needs. Support the improvement operational systems, processes, and policies to support continuous improvement across teams
- Operational Risk Management: Proactively identify, assess, and manage operational risks. Collaborate with 2nd and 3rd line functions (e.g., risk management, compliance, internal audit) to ensure robust risk controls. Develop and implement risk mitigation strategies to safeguard the division's operations.
- Regulatory Compliance: Ensure all operational activities comply with relevant legal and regulatory requirements. Stay updated on changes in regulations and implement necessary adjustments to maintain compliance. Support the Head of Group and in the communication with regulatory bodies (where applicable) and ensure timely and accurate reporting.
Knowledge and Experience
- 5-8 years of relevant experience in banking activities, including several experiences in different operational departments
- Strong regulatory and controls mindset with in-depth knowledge of bank regulations
- Strong knowledge and expertise of banking activities, products, and specially on operational processes (cash & securities)
Attributes and Qualities
- Strong communication skills across all stakeholders (employees, peers, internal audit and compliance departments)
- Open and transparent communication
Technical Skills
- Strong risk awareness, organisation and interpersonal skills, Outstanding orientation towards goal achievement, Solution oriented, excellent analytical skills, Rigorous and Proactive
- Strong regulatory and controls mindset with in-depth knowledge of bank regulations
- Expertise in process and related controls management
- Good understanding of financial instruments and operational matters
- MS Office suite and XMS (reconciliation tool)
- Strong functional expertise.
Languages Skills
- English fluent, French (preferable), German (preferable)