General Ledger (GL) & Suspense Account Reconciliation Expert

Experience: 12+ Years

Qualification: Chartered Accountant (CA)

Preferred Background: Banking, Bank Audit, or Financial Inspection

Engagement Type: Contractual (One Year Contract)

About the Role:

We are looking for an experienced Chartered Accountant with strong expertise in banking audits, General Ledger (GL) management, suspense account reconciliation, and financial controls. The candidate will be responsible for reviewing and rationalising bank ledger accounts, strengthening reconciliation processes, monitoring long-outstanding entries, and ensuring timely closure of observations raised during RBI inspections.

The ideal candidate would be a Partner or Director from a CA firm specialising in bank audits or a retired senior banking professional from a Public Sector Bank (PSB), with experience in inspection, finance, or accounting controls.

Key Responsibilities:

- GL Account Review and Rationalisation: Review, classify, and rationalise nominal, office, and General Ledger (GL) accounts across the bank to eliminate redundant accounts and improve accounting accuracy.

- Suspense Account Reconciliation: Identify, investigate, and resolve unreconciled and long-pending entries in suspense, office, and other ledger accounts.

- Reconciliation Controls: Design and implement robust controls to ensure same-day reconciliation of transactions and timely resolution of discrepancies.

- Monitoring and MIS: Develop a surveillance mechanism and periodic MIS to track outstanding entries, ageing, unresolved differences, and corrective actions.

- RBI Inspection Compliance: Address and close observations raised during RBI inspections relating to account hygiene, ledger management, and reconciliation practices, supported by proper documentation and audit trails.

- Internal Controls and Governance: Strengthen accounting procedures, establish clear ownership of ledger accounts, and introduce preventive controls to minimise recurring reconciliation issues.

- Stakeholder Coordination: Work closely with finance, accounts, operations, internal audit, and inspection teams to resolve discrepancies and ensure compliance with banking policies and regulatory requirements.

Required Qualifications and Experience:

- Chartered Accountant (CA) with 12+ years of relevant professional experience.

- Strong experience in bank statutory audits, concurrent audits, internal inspection, or banking finance and accounting functions.

- Demonstrated expertise in General Ledger (GL), suspense accounts, office accounts, and reconciliation processes.

- Understanding of RBI inspection requirements, audit observations, banking accounting controls, and regulatory compliance.

- Experience in identifying root causes of unreconciled entries and implementing sustainable corrective measures.

- Strong analytical, documentation, problem-solving, and stakeholder management skills.

Preferred Candidate Profile:

Candidates from the following backgrounds will be preferred:

- Partner or Director at a CA firm with significant experience in statutory or concurrent audits of banks.

- Retired senior banking professional from a Public Sector Bank (PSB), particularly from the Inspection, Finance, Accounts, or Internal Audit function.

- Professionals who have led bank account reconciliation, GL rationalisation, suspense account clean-up, or closure of RBI inspection observations.