JOB REPORTING TO: Senior Manager Business Performance & Revenue Assurance
Application Deadline: 2021-12-13
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 transactional and system errors.
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
- 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.