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OB REPORTING TO: Senior Manager Business Performance & Revenue Assurance
JOB PURPOSE
Responsible to ensure that revenue collection mechanisms are reviewed and monitored to help businesses identify system loopholes, errors, transaction errors, process weaknesses that could affect income collected from a transaction. To put in place systems and processes to minimize the risk of transnational and system errors.
MAIN RESPONSIBILITIES:
1. REVENUE ASSURANCE:
- From detailed analysis, proactively identify & report revenue leakages and escalate the same to product owners for collection
- Initiate corrective measures to control and prevent the leakages
- Daily Monitoring of revenue collection processes for accuracy
- Perform regular analysis of revenue streams for all retail business units to identify risk areas and were applicable new controls to be introduced
- Conduct analysis on business process changes that may affect the company’s ability to identify, monitor or collect revenue
- Perform analysis and verification of all transactions being disputed by customers or agents for refunds
- Put in place alarms on transactions to track and monitor leakages and ensure that proper actions are taken to correct and prevent future losses
- Ensure that all approved prices are accurately implemented per the approved Tariff guide and conduct regular checks to ensure that all prices are accurately being charged
- Respond to routine and ad hoc information requests from Finance Management/Function head regarding revenue assurance
- Support management in identifying areas of opportunities, threats, risks & challenges within banking & competitor environment, by providing both financial & non-financial information
- Take the lead and follow up on the automation of all charges to mitigate revenue leakages.
- Lead in creation of policies & procedures to govern revenue assurance within Retail Banking
- Retail Banking Services and Products performance Analysis
- Provide monthly detailed analysis on the performance of the Retail Banking products & Services, the analysis to include revenue generation per products and which product is working well and from what location
2. REPORTING
- Provide and assure correctness of revenue reports and associated direct and indirect costs on approved intervals
- Analyze key drivers of income & cost and report on performance; work with business owners to implement cost efficiency measures
- Prepare regular revenue assurance reports required by management and supervisor
- Prepare monthly report on the revenue leakage and provide strategic commentaries on the mitigation of the leakage to realize full revenue across Retail Banking.
EDUCATION AND SKILLS REQUIREMENTS
- Bachelor’s Degree in computer science, Economics, Accounting, Banking and Finance, financial management and any other related field
- A minimum of 4 years working experience in reviewing business performance and analysis in any business unit within the bank.
- Ability to identify problems and collect large amounts of data; establish facts and draw valid conclusions among a variety of complex technical methods, techniques, and objectives.
- Strong data gathering and analytical skills.
- Financial Analysis: Knowledge of revenue assurance methodologies is highly recommended.
