Unit Head – Branch Control Unit - Suspense Monitoring & Reconciliation Controls

Job Purpose:

The Unit Head – Suspense Monitoring & Reconciliation is responsible for establishing, governing, and overseeing the framework for monitoring, reconciliation, and control of suspense accounts and internal control accounts across the bank.

The role ensures accuracy, timely reconciliation, proper usage of suspense accounts, early detection of exceptions, and strong internal controls, with a focus on automation, process standardisation, and regulatory compliance.

The incumbent also engages with internal stakeholders, auditors, and regulatory authorities, and provides management reporting and insights to senior leadership on control effectiveness and risk exposures.

Job Responsibilities (JR):

Actionable

Suspense & Control Account Governance

• Define and maintain the bank-wide framework for monitoring suspense and internal control accounts.
• Establish clear policies on permitted usage, ageing limits, and closure timelines.
• Ensure consistent application of suspense account practices across business units and operational teams.
• Identify and prevent misuse, incorrect postings, or prolonged balances in suspense accounts

Reconciliation Oversight

• Oversee timely reconciliation of all suspense and control accounts across the organisation.
• Ensure balances are validated, explained, and normalised through proper accounting treatment.
• Monitor ageing of unreconciled balances and ensure prompt resolution.
• Escalate long outstanding or abnormal balances to senior management and relevant stakeholders

Process Automation & Control Enhancement

• Drive automation of reconciliation and monitoring processes to minimise manual intervention.
• Identify manual gaps, operational errors, and process inefficiencies in suspense management.
• Work with technology and operations teams to implement system controls, dashboards, and automated alerts.
• Promote data-driven monitoring and exception management frameworks.

Risk Monitoring & Early Detection

• Establish early warning indicators for abnormal movements or unusual balances in suspense accounts.
• Implement exception monitoring and trend analysis.
• Ensure proactive identification of operational risks and control weaknesses.

Regulatory & Stakeholder Engagement

• Serve as the primary point of contact for regulatory queries related to suspense accounts and reconciliation controls.
• Support central bank inspections and supervisory reviews.
• Coordinate responses and documentation for regulatory reviews, internal audit, and external audit.
• Maintain strong engagement with Finance, Operations, Risk, Technology, and Business teams.

Financial Control & Housekeeping Reporting

• Ensure timely submission of reconciliation and housekeeping data to Financial Controllers.
• Support financial reporting accuracy by ensuring suspense balances are properly accounted for.
• Track and report open items, aged balances, and remediation actions

Audit & Compliance Management

• Address audit observations and queries related to suspense accounts and reconciliation controls.
• Ensure timely closure of audit findings and implementation of corrective actions.
• Maintain documentation of reconciliation procedures and control frameworks.

Management Reporting & Governance

• Prepare regular reports and dashboards for senior management covering:

•

• Suspense account balances and trends
• Ageing analysis
• Control breaches
• Operational risk indicators
• Present periodic updates to senior management committees.
• Provide insights on industry practices, emerging risks, and regulatory expectations.

Key Skills & Competencies

• Strong understanding of banking accounting and reconciliation processes
• Expertise in suspense account management and operational controls
• Experience with financial systems and reconciliation tools
• Ability to drive process automation and control improvements
• Strong stakeholder management and regulatory interaction skills
• Analytical thinking and exception monitoring capability
• Strong presentation and communication skills

Experience & Qualifications

• Chartered Accountant / MBA Finance / equivalent qualification
• Typically, 10–15 years of experience in banking finance, operations control, or reconciliation management
• Experience handling regulatory inspections and audit interactions

Major Stakeholders

Internal:

• Financial Control
• Operations & Back Office Teams
• Risk & Compliance
• Technology / IT
• Internal Audit
• Business Units

External:

•

• Central Bank / Regulatory Authorities
• External Auditors