Job Overview
We are seeking an experienced Financial Reconciliation Specialist or Forensic Accountant to perform a detailed 48-month reconciliation and expense recovery analysis for a capital markets firm.
Our firm acts as an arranger for debt issuances (corporate bonds) and facilitates various payments related to these transactions, including JCSD (Jamaica Central Securities Depository) fees and bank charges.
These expenses are not the firm’s responsibility and should be recovered from client accounts or issuing entities. We want to perform a full reconciliation to confirm that all expenses incurred were properly passed through to clients and identify any amounts that were not recovered.
The objective is to identify:
• Expenses incorrectly absorbed by the firm
• Charges not passed through to client accounts
• Misclassification of issuer vs firm expenses
• Potential recovery opportunities
This is a structured forensic reconciliation project covering the last 48 months.
Scope of Work
The contractor will be responsible for:
1. Data Review & Organization
Review and organize financial data from multiple sources including:
• Accounts Payable records
• Vendor payments (JCSD)
• Bank statements and bank fees
• Client account ledgers
• Bond issuance records
• Internal accounting records
2. JCSD Fee Reconciliation
For each JCSD payment made by the firm:
• Identify the associated bond issuance or client
• Determine whether the fee should be borne by the client, issuer, or firm
• Confirm whether the expense was charged to the client account
• Identify unrecovered expenses
3. Bank Charge Recovery Analysis
Review bank fees incurred by the firm and determine:
• Which charges relate to client transactions
• Whether these fees were passed through to clients
• Any unrecovered bank charges
4. Variance Analysis
Produce a detailed reconciliation showing:
• Total fees paid by the firm
• Total fees recovered from clients
• Any discrepancies
• Recovery opportunities
5. Root Cause Analysis
Document why discrepancies occurred. Examples may include:
• Operational process gaps
• System limitations
• Accounting classification errors
• Missing client deductions
6. Final Deliverables
The contractor will deliver:
1. Master Reconciliation Workbook (Excel)
Including detailed schedules such as:
• JCSD payments ledger
• Client charge reconciliation
• Bank charge analysis
• Variance summary
• Recovery opportunities
2. Executive Summary Report (PDF or Word)
Including:
• Total expenses incurred
• Amount recovered
• Amount not recovered
• Recovery opportunities
• Process improvement recommendations
Required Experience
We are looking for candidates with experience in:
• Financial reconciliations
• Forensic accounting
• Capital markets operations
• Investment banking or brokerage environments
• Bank statement and ledger reconciliation
• Advanced Excel / financial data analysis
Experience working with broker dealers, investment firms, or securities settlement systems is a strong advantage.
Skills Required
• Advanced Excel (Pivot tables, reconciliation models, large datasets)
• Financial analysis and accounting
• Strong attention to detail
• Process documentation
• Ability to work with multi-source financial data
Project Timeline
Estimated duration:
4 – 6 weeks
Expected start: Immediate
Budget
Open to proposals.
Please include in your proposal:
• Relevant reconciliation or forensic accounting experience
• Examples of similar work performed
• Estimated timeline
• Proposed project fee
Additional Notes
This project may lead to additional reconciliation and financial control review work for the right candidate.