Senior Analyst

 FM Reconciliations – Senior Analyst (Customer Loyalty Level 14)

Background on what ING is about

ING Hubs Philippines (ING Hubs PH) is an international part of the ING organization delivering services to many Business Units across the world for both Wholesale Banking and Retail Banking activities. Working for ING Hubs PH means working with the most diverse workforce and where no challenge is the same.

At ING our purpose is to empower people to stay a step ahead in life and business. We believe that sustainable progress is driven by people with the imagination and determination to make a better future for themselves and those around them.

ING is changing what banking is. For you, that means plenty of opportunities for personal growth in a continuously evolving environment. If this is the environment you thrive in, then apply and join us in changing the future of banking!

Job Overview:

• • Processor or Reconciler of Front and Back office, Front to Front office systems, Interbook and Intercompany, internal systems and external parties (Custodians, Clearing Brokers, Trading/Affimation and Clearing platforms) Credit Risk, Financial Statements (ledger and/or statements), and P&L movements. The role involves ensuring the accuracy and integrity of financial transactions and data between various entities within the financial markets. Regularly reviewing and verifying trades, payments, and other financial transactions to ensure they are accurately recorded in the financial systems. Comparing records from internal systems with external sources, such as broker statements and clearinghouse reports, to identify discrepancies. Investigating and resolving mismatches or discrepancies between various financial records, working closely with trading desks, finance teams, and external partners. Generating detailed reconciliation reports that outline findings, discrepancies, and resolutions. Maintaining accurate documentation for compliance purposes.
• • This role is part of Wholesale Banking Operations which encompass a wide range of financial services and products tailored for corporate clients, institutions, and governments. These operations are designed to facilitate large-scale financial transactions, risk management, asset utilization, and financing needs that are characteristic of larger entities, as opposed to individual banking services provided to retail customers.
• • The role entails to interact with different types of stakeholders from trade processing teams within the organization to our COEs globally. The role is reporting to a Circle Lead or Department Head.

Key Responsibilities:

• • Demonstrates a strong proficiency in key components of reconciliation processes, navigating intermediate complexity with confidence and precision.
• • Mentors and provides targeted training to junior staff, enhancing team performance and fostering skill development in reconciliation methodologies. Provide training and support for junior team members or new hires involved in the reconciliation process.
• • Proactively identifies and recommends innovative process improvements that enhance operational efficiency and strengthen internal controls, driving the team toward continuous improvement mindset.
• • Handles a variety of tasks within a moderately complex operational environment, ensuring accuracy and compliance with established standards.
• • Develops and refines intermediate operational skills to efficiently execute structured, routine tasks within a standardized workflow, optimizing time management and output.
• • Assist in internal and external audits by providing required documentation and explanations regarding reconciliation processes and outcomes.
• • Develops and refines intermediate operational skills to efficiently execute structured, routine tasks within a standardized workflow, optimizing time management and output.
• • Effectively resolves routine and moderately complex reconciliation issues by applying established procedures and solutions, ensuring timely and accurate financial reporting.
• • Possesses comprehensive knowledge of reconciliation processes, financial products, operating standards, and company culture, while aligning with client requirements and expectations.
• • Liaise with various internal departments (e.g., accounting, trading, risk management) to ensure alignment and cooperation during the reconciliation process.
• • Communicate effectively with stakeholders regarding reconciliation results and any necessary follow-up actions.

Key Capabilities/Experience:

• • Familiarity with various financial instruments and transactions (e.g., equities, bonds, derivatives, foreign exchange, and other traded instruments) and how they are processed in the market. Knowledge of market conventions and operational workflows related to these products is also beneficial.
• • Awareness of financial regulations and compliance requirements, as reconciling processes often need to adhere to guidelines set by financial authorities.
• • Ability to identify issues in data discrepancies and develop effective solutions quickly to minimize impact on operations.
• • Capability to evaluate existing reconciliation processes and suggest improvements to enhance efficiency and effectiveness.
• • Background in finance, accounting, or related fields; hands-on experience with financial reconciliations and accounting practices is crucial.

• • Experience in operations or back-office roles within investment banks, asset management firms, can provide insights into the intricacies of FM reconciliations.
• • Capability to evaluate existing reconciliation processes and suggest improvements to enhance efficiency and effectiveness. Involvement in projects related to reconciliation processes, system upgrades, or process redesign can demonstrate the ability to drive change and enhance reconciliation efficiency.

Minimum Qualifications:

• • Ability to work under pressure.
• • Strong analytical capabilities to interpret financial data, identify trends, and diagnose discrepancies in reconciliation processes.
• • Ability to meticulously verify data discrepancies and ensure accuracy in financial records, which is critical for reconciling transactions.
• • Has a sense of stakeholder management.
• • Excellent written and oral communication skills. Can convey information clearly and effectively, both verbally and in writing, is essential.
• • Interpersonal skills: Building rapport and maintaining positive relationships with a diverse range of stakeholders.
• • Strong organizational and time management skills to balance multiple priorities and meet tight deadlines.
• • Familiarity with banking regulations and compliance standards, including understanding of risk management practices and internal controls.
• • Collage graduate from a respected Tertiary Institution or equivalent working experience.
• • At least 5 years of experience in financial reconciliations, financial analysis, or related roles within the baking and finance industry.
• • Microsoft O365 proficient.
• • Familiar with any reconciliation tools (example: Duco Tool and Intellimatch).
• • Knowledgeable in swift messaging (MX or MT).