Reconciliation and Compliance Officer

at  Kings College London

Job id: 094645. Salary: £32,979 – £36,396 (Inclusive of London Weighting Allowance).
Posted: 20 August 2024. Closing date: 08 September 2024.
Business unit: FPSPA. Department: Credit Control Services.
Contact details: Antony Harrild. Antony.Harrild@kcl.ac.uk
Location: Guy’s Campus. Category: .
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About us:
King’s College London’s Finance Department is seeking a highly motivated and detail-oriented individual to join our outstanding Credit Control team as a Reconciliation and Compliance Officer.
Credit Control are part of the Finance, Procurement, Strategic Planning and Analytics Directorate (FPSPA) and are responsible for the invoicing and collection of tuition, residence and commercial fees to customers, students, sponsors, embassies and the Student Loan Company, totalling over £700m p.a.,
This position is a 12-month Fixed-term contract opportunity, offering a chance to work in a dynamic and supportive environment within a prestigious institution. The successful candidate will play a key role in the applications and enhancement of our credit control compliance and reconciliation processes, ensuring debts are collected in line with policy and business procedures, reconciliation of key control accounts and contributing to the overall financial health of the organization.
About the role:
King’s College London is looking for a proactive and detail-oriented individual to join our Finance Directorate as a Reconciliation and Compliance Officer. This full-time role (35 hours per week) is offered on a 12-month fixed-term contract. The successful candidate will play a crucial role in managing the compliance and reconciliation processes related to tuition & residence fee payments and student refunds, working closely with the Student Debt Supervisor.
In this role, you will lead the compliance checking of inbound University fee payments. You will also be responsible for reconciling high transaction volume control accounts and addressing any discrepancies promptly and proactively. Regular, accurate, and detailed reporting on the compliance and reconciliation account status will be required. Additionally, you will ensure that debts assigned from the sales ledger are pursued and recovered in accordance with credit terms.
Applicants will ideally possess a strong educational background and must be proficient in Excel (including Vlookups and pivot tables) and have a solid understanding of accounting principles. Excellent interpersonal skills are essential, along with a confident and professional telephone manner. Effective communication with students and third parties is crucial for gathering compliance data, resolving disputes, and assisting in debt collection. Experience in providing excellent customer service, resolving complex disputes, and demonstrating initiative in debt recovery and process improvement is highly desirable.
Compliance Checks on Bank Transfers: Undertake thorough checks on all inbound direct bank transfers to King’s, ensuring that compliance requirements are met. This involves taking proactive steps to collect the necessary data from the student or payer and completing all compliance checks in a timely manner to prevent any potential issues.
Sanctioned Jurisdiction Monitoring: Perform compliance checks on students or payers from sanctioned jurisdictions before releasing payment details. This includes cross-checking receipts to ensure that all regulations are followed and that no prohibited transactions occur.
Reconciliation of Control Accounts: Handle the end-to-end reconciliation of control accounts related to both direct and third-party college inbound receipts and refunds. This task ensures accurate financial records and helps maintain the integrity of financial data.
Debt Collection: Assist with collecting University debts from students and sponsors in line with policy and procedures. This involves managing unpaid debts within an assigned area, as directed by the line supervisor, and taking appropriate actions to recover outstanding amounts and to report areas of risk.
Payment Extension and Plan Management: Assess and make decisions independently on requests for payment extensions and plans. Review large volumes of financial documents, set up and monitor payment arrangements, and take necessary actions in case of defaults to ensure compliance and recovery.
High-Volume Query Management: Respond efficiently to high volumes of inbound email queries and calls, adhering to tight service level agreements (SLAs). This requires excellent communication skills and the ability to handle multiple queries simultaneously.
Proactive Communication: Contact students and third parties regarding outstanding accounts with a proactive and professional approach. This involves addressing issues promptly and ensuring effective communication to resolve outstanding balances.
Fraud Prevention and Process Improvement: Conduct regular cross-checks of card acquirer reports for fraud detection and review specific transactions to identify potential risks. Lead or participate in short-term projects aimed at process improvements, manage tasks independently. Additionally, ensure all credit control processes and system configurations are documented and updated regularly to reflect current practices, and demonstrate a commitment to Equality, Diversity, and Inclusion in all aspects of the role.
About you: (the candidate)
To be successful in this role, we are looking for candidates to have the following skills and experience:
Essential criteria
1. Educational Qualifications: Candidates should possess a minimum of a degree qualification or an equivalent financial certification, such as those offered by the Chartered Institute of Credit Management (CICM), Association of Accounting Technicians (AAT), Association of Chartered Certified Accountants (ACCA), or demonstrate equivalent experience in the financial field.
2. Understanding of Anti-Fraud Compliance and Legislation: Ability to demonstrate a thorough knowledge of anti-fraud compliance regulations, such as those related to Money Laundering and the Proceeds of Crime Act, is essential. This also includes a deep understanding of Data Protection Legislation and the General Data Protection Regulation (GDPR), which governs the handling of personal data and ensures compliance with legal standards.
3.Advanced IT and Numeracy Skills: High numeracy skills and proficiency in IT are required, particularly in using Microsoft Office software. Candidates must demonstrate advanced skills in MS Excel, including the ability to manipulate data effectively using pivot tables and VLOOKUP formulas, essential for accurate data analysis and reporting.
4. Accountancy Knowledge: A solid working knowledge of accountancy functions and procedures is crucial. This includes understanding financial controls, bookkeeping, and reconciliation processes to ensure accurate and compliant financial management.
5. Professionalism and Attention to Detail: The role requires a highly professional approach to work, with exceptional attention to detail and accuracy. Strong self-management and organizational skills are necessary to handle tasks efficiently and meet deadlines.
6. Independent Work and Communication: Ability to work with minimal supervision is vital. Candidates must be adept at communicating clearly and effectively with customers and stakeholders, utilizing a solution-focused approach to address and resolve issues.
7. Experience with Compliance and AML Checks: Prior experience in performing compliance and Anti-Money Laundering (AML) checks on inbound payments or new customers is required. This experience ensures familiarity with regulatory requirements and the ability to identify and mitigate potential risks.
8. High-Volume B2C Debt Collection Experience: Experience in high-volume business-to-consumer (B2C) debt collection and query management, with a successful track record is necessary. This includes implementing effective debt recovery strategies and achieving positive results in recovering outstanding debts, whilst managing high volumes of complex queries within tight timeframes. This experience demonstrates the ability to address intricate issues efficiently while maintaining a high level of service quality ensuring University cash flow is maintained to support wider commercial activities.
Desirable criteria
1. Knowledge of administrative and accounting functions and processes within a Higher Education environment
2.Knowledge of SITS/SAM Student Records and Unit 4 ERP (formerly called Agresso or Business World)
We pride ourselves on being inclusive and welcoming. We embrace diversity and want everyone to feel that they belong and are connected to others in our community.
We are committed to working with our staff and unions on these and other issues, to continue to support our people and to develop a diverse and inclusive culture at King’s.
We ask all candidates to submit a copy of their CV, and a supporting statement, detailing how they meet the essential criteria listed in the advert. If we receive a strong field of candidates, we may use the desirable criteria to choose our final shortlist, so please include your evidence against these where possible.

Please refer the Job description for details