Subchest Custodian

Job description

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Job Summary

To manage and regulate access to the Sub-chest, issue and receive banknotes and coins to and from commercial bank

Job Description

Key Accountabilities

CASH MANAGEMENT –FRONT LINE CASHIERS 75%

• Open and close the Sub-chest under dual control in order to enhance internal controls.
• Receive and safeguard currency from the BOZ and commercial banks as per laid down guidelines and procedures.
• Issue bank notes and coins to commercial banks in the designated area in order to support smooth cash operations of the banking sector.
• Prepare and submit to the Bank requests for restocking of the Sub-chest in order to ensure adequate stocks and denominations are available to meet currency demand of the market.
• Prepare and submit to the Bank request for evacuation of currency from the Sub-chest to BOZ in order to ensure that unfit currency are removed from circulation and maintain stocks as may be determined and advised by the Bank from time to time.
• Conduct Sub-chest vault reconciliation in order to detect any differences and reconcile the same timely.
• Record all movement of currency stocks in the Sub chest in order to account for all stock movements and facilitate audit trail.
• Prepare weekly and monthly Sub-chest returns to facilitate timely reconciliation.
• Liaise with commercial Banks timely on currency requirements in order to facilitate forecasting and effective management of the Sub-chest.

RIGOUR 25%

• Conduct daily reconciliation of Sub-chest total cash. Immediately escalate all cash issues directly to the Branch Manager in accordance with current procedures
• Carefully count all cash received or dispensed to ensure that errors are avoided .The Bank has a zero tolerance policy for Sub-chest errors and appropriate action will be taken ,which may include formal disciplinary procedures .
• Facilitate BOZ audit and inspection of the Sub-chest in order to ascertain compliance to laid down procedure and guidelines.
• Ensure completeness of documents submitted for transaction by other commercial banks such as deposit or withdrawal slips to ensure accuracy and completeness of these documents.
• Record nd file transaction documents on the value date.
• Count the boxes in the safe custody area as part of the close of day Branch checks.
• Ensure that all transaction records are kept meticulously and in accordance with Bank procedures . Make such documents available for review /control purposes when required.
• Hold one of the two keys to the Sub-chest and ensure full adherence to the adopted matrix.

Risk and Control

Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Absa Operational Risk Framework and internal Barclays Policies and Standards.

Education

Further Education and Training Certificate (FETC): Business, Commerce and Management Studies (Required)