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Clearing Officer

Closing: Nov 1, 2022

This position has expired

Published: Oct 18, 2022 (2 months ago)

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Job Summary

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About Mayfair CIB Bank

Mayfair CIB Bank is a commercial bank in Kenya licensed by the Central Bank of Kenya. We develop tailor made solutions with an aim to meet and exceed our customer expectations while being led by experienced and knowledgeable staff.

Our vision is to strive to be a strong, dynamic and versatile financial institution and to create a niche for ourselves by becoming the premier bank in the market. We are attracting and retaining the best talent from the market to be part of this vision.

Overview of the Role:

The Clearing & Payments Officer will be responsible for efficient processing of inward and
outward clearing items, reconciliation of clearing accounts and observing KYC policies on daily basis to ensure full participation in the clearinghouse and mitigating risks associated. The
principal purpose of this job is meticulous transaction processing due to the sensitive nature of the clearing function.

The incumbent should be able to liaise seamlessly with commercial banks, the Central Bank as well as solution providers to ensure that collection and payment services are performed
efficiently and effectively.

From time to time, the incumbent will be involved in projects due to the constantly changing environment towards automation,upgrading of clearing systems and simplification of processes


Responsibilities

About Mayfair CIB Bank

Mayfair CIB Bank is a commercial bank in Kenya licensed by the Central Bank of Kenya. We develop tailor made solutions with an aim to meet and exceed our customer expectations while being led by experienced and knowledgeable staff.

Our vision is to strive to be a strong, dynamic and versatile financial institution and to create a niche for ourselves by becoming the premier bank in the market. We are attracting and retaining the best talent from the market to be part of this vision.

Overview of the Role:

The Clearing & Payments Officer will be responsible for efficient processing of inward and
outward clearing items, reconciliation of clearing accounts and observing KYC policies on daily basis to ensure full participation in the clearinghouse and mitigating risks associated. The
principal purpose of this job is meticulous transaction processing due to the sensitive nature of the clearing function.

The incumbent should be able to liaise seamlessly with commercial banks, the Central Bank as well as solution providers to ensure that collection and payment services are performed
efficiently and effectively.

From time to time, the incumbent will be involved in projects due to the constantly changing environment towards automation,upgrading of clearing systems and simplification of processes


  • Processing of Inward and outwards clearing items
  • Validation of inward cheques and ensuring compliance with KBA clearing rules and regulations
  • Unpaying cheques that are not compliant to KBA guidelines (with the relevant reason code)
  • Follow-up with the branches on overdrawn cheques to ensure pay/unpay decisions are made in time to ensure session 2 participation
  • Ensuring that branches /Head office unpaying decisions are made within the required timelines and unpaid files sent to CBK within the cut-off time
  • Daily review of branch reconciliation in relation to all branch clearing suspense accounts.
  • Maintenance of Direct Debits in Sybrin System
  • Ensure timely resolution to clearing queries from within the bank as well as from other
    banks
  • Salary Processing and Direct Debit Processing
  • Ensuring Standing Orders, Direct Debits and SPS instructions Maintained and supervised
    within the stipulated TAT
  • Validation of cheques and archiving
  • Assisting branches on all matters relating to payments (cheques /EFTS)
  • Manage and effectively oversee accurate and timely remittance of outward clearing files to CBK (Cheques deposits and EFT payments)
  • Ensuring that the clearing bank software is updated to KBA standards from time to time
  • Ensure zero regulatory infraction
  • Ensure zero fraud occurrence
  • Ensure adequate and proper records are maintained for all clearing transactions
  • Ensure maintenance and effective utilization of physical assets and resources
  • Provide backup support to the Head of clearing
  • Handle any other duty assigned by the supervisor


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