What does a reconciliation analyst do?
A reconciliation analyst is responsible for resolving transaction discrepancies between institutions, especially in financial and business records. Reconciliation analysts conduct audits on reports to identify gaps and inconsistencies and escalate it to the reconciliation supervisor for resolution recommendation. They also review account statements, update information on the database, and coordinate with other departments for the necessary filing of documents. A reconciliation analyst must have excellent analytical and critical-thinking skills, especially in providing immediate solutions to clients by adhering to the company's requirements and regulations.
Reconciliation analyst responsibilities
Here are examples of responsibilities from real reconciliation analyst resumes:
- Lead the requirement gathering effort from key customers for development of new JAVA applications and for troubleshooting customer issues.
- Execute all aspects of the international account reconciliations and settlements with international vendors, including currency exchange.
- Add new trading partners to EDI.
- Use team SharePoint to upload disposal reports.
- Respond to all correspondence via written or verbal communication, within DOD timeframe.
- Develop SQL scripts that improve the efficiency of processes, analysis, and reporting.
- Use SQL to execute correct information for members and providers daily by utilizing queries.
- Research and balance payroll tax client accounts to ensure accuracy of taxes paid to government agencies.
- Work out of different data bases to enroll new policy holders during health enrollment for Medicaid and Medicare.
- Organize interactions, which solve problems and issues between the partner's interface system and PFPC's portfolio system.
- Locate accounts, decipher what the correspondence are requesting, handle it according to the FDCPA and state laws.
- Schedule and process conversion transactions for mid-market clients at one of the largest payroll and tax-filing processors in the world.
- Provide management with monthly Medicaid revenues and other financial results to be report to the accounting department for month end close.
- Assign individuals to categorically specific windows while working in greeter's station.
- Research and review portfolio statements and transactions to identify inaccuracies and calculate corrections.
Reconciliation analyst skills and personality traits
We calculated that 12% of Reconciliation Analysts are proficient in Reconciliations, Portfolio, and Reconciliation Process. They’re also known for soft skills such as Interpersonal skills, Problem-solving skills, and Time-management skills.
We break down the percentage of Reconciliation Analysts that have these skills listed on their resume here:
- Reconciliations, 12%
Executed all aspects of the international account reconciliations and settlements with international vendors, including currency exchange.
- Portfolio, 7%
Investigated and resolved any discrepancies in cash and security positions with Rockefeller Financial Portfolio Managers, custodians and third party clients.
- Reconciliation Process, 6%
Analyzed client and/ or compliance requirements to establish priority for conducting reconciliation process and meeting frequency standards/ service level agreements.
- Financial Reports, 4%
Review financial reports for accuracy and distributes accordingly.
- Securities, 4%
Settled mortgage-backed securities and processed trade adjustments/interest on collateral, loan, and repurchase agreements.
- SQL, 4%
Modified and improved the Call Center's Phone Monitoring database, and created a table of User-defined Queries using SQL.
Common skills that a reconciliation analyst uses to do their job include "reconciliations," "portfolio," and "reconciliation process." You can find details on the most important reconciliation analyst responsibilities below.
Interpersonal skills. The most essential soft skill for a reconciliation analyst to carry out their responsibilities is interpersonal skills. This skill is important for the role because "management analysts work with managers and other employees of the organizations for which they provide consulting services." Additionally, a reconciliation analyst resume shows how their duties depend on interpersonal skills: "provided excellent customer service at all times by establishing and maintaining interpersonal relationships. "
Problem-solving skills. Another soft skill that's essential for fulfilling reconciliation analyst duties is problem-solving skills. The role rewards competence in this skill because "management analysts must be able to think creatively to solve clients’ problems." According to a reconciliation analyst resume, here's how reconciliation analysts can utilize problem-solving skills in their job responsibilities: "identified solutions to amend discrepancies in trading functions processed agent bank statements to guarantee accurate and timely settlement of trades"
Time-management skills. This is an important skill for reconciliation analysts to perform their duties. For an example of how reconciliation analyst responsibilities depend on this skill, consider that "management analysts often work under tight deadlines and must use their time efficiently to complete projects on schedule." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of a reconciliation analyst: "prepare month-end closing by analyzing financial data and conducting multiple analysis and schedules with strictdeadlines using excel and access. ".
Analytical skills. A big part of what reconciliation analysts do relies on "analytical skills." You can see how essential it is to reconciliation analyst responsibilities because "management analysts must be able to interpret information and use their findings to make proposals." Here's an example of how this skill is used from a resume that represents typical reconciliation analyst tasks: "coordinate, analyze and prepare financial reports on a daily basis. "
Communication skills. Another common skill required for reconciliation analyst responsibilities is "communication skills." This skill comes up in the duties of reconciliation analysts all the time, as "management analysts must be able to convey information clearly in both writing and speaking." An excerpt from a real reconciliation analyst resume shows how this skill is central to what a reconciliation analyst does: "contributed to process improvements and enhancing internal communication that enhanced overall department productivity and efficiency. "
The three companies that hire the most reconciliation analysts are:
- Pwc71 reconciliation analysts jobs
- BNY Mellon4 reconciliation analysts jobs
- Saggezza
3 reconciliation analysts jobs
Choose from 10+ customizable reconciliation analyst resume templates
Build a professional reconciliation analyst resume in minutes. Our AI resume writing assistant will guide you through every step of the process, and you can choose from 10+ resume templates to create your reconciliation analyst resume.
Compare different reconciliation analysts
Reconciliation analyst vs. Business analyst-consultant
A business analyst-consultant is responsible for overseeing the project management and ensuring that the operations meet the agreed-upon project deliverables. Business analyst-consultants closely coordinate with the clients for their specifications and requirements, monitoring the resources and processes for the project completion, and aligning those to the clients' budget goals. A business analyst-consultant helps the development team on strategizing techniques for brand promotions with minimal costs with maximum quality and productivity. They should have excellent communication and organizational skills, especially on identifying business opportunities to drive revenues and increase profitability.
There are some key differences in the responsibilities of each position. For example, reconciliation analyst responsibilities require skills like "reconciliations," "portfolio," "reconciliation process," and "financial reports." Meanwhile a typical business analyst-consultant has skills in areas such as "business process," "project management," "business analysts," and "hr." This difference in skills reveals the differences in what each career does.
Business analyst-consultants really shine in the finance industry with an average salary of $105,940. Comparatively, reconciliation analysts tend to make the most money in the finance industry with an average salary of $85,439.On average, business analyst-consultants reach higher levels of education than reconciliation analysts. Business analyst-consultants are 13.5% more likely to earn a Master's Degree and 0.3% more likely to graduate with a Doctoral Degree.Reconciliation analyst vs. Corporate finance analyst
Corporate finance analysts make significant business decisions based on the data they gather. Typically, corporate finance analysts work within an organization and support management decisions through actionable financial information. They monitor the taxes, expenses, financial statements, and other financial details of where the company sources its income. This position requires a formal qualification in accounting. It also necessitates the analyst to develop interpersonal skills, knowledge in information technology software, financial reporting skills, and experience in management.
While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that reconciliation analyst responsibilities requires skills like "portfolio," "reconciliation process," "pivot tables," and "fixed income." But a corporate finance analyst might use other skills in their typical duties, such as, "financial analysis," "financial models," "hyperion," and "due diligence."
Corporate finance analysts earn a higher average salary than reconciliation analysts. But corporate finance analysts earn the highest pay in the finance industry, with an average salary of $96,991. Additionally, reconciliation analysts earn the highest salaries in the finance with average pay of $85,439 annually.Average education levels between the two professions vary. Corporate finance analysts tend to reach higher levels of education than reconciliation analysts. In fact, they're 10.0% more likely to graduate with a Master's Degree and 0.3% more likely to earn a Doctoral Degree.Reconciliation analyst vs. Analyst
Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.
There are many key differences between these two careers, including some of the skills required to perform responsibilities within each role. For example, a reconciliation analyst is likely to be skilled in "reconciliations," "portfolio," "reconciliation process," and "securities," while a typical analyst is skilled in "customer service," "troubleshoot," "management system," and "project management."
Analysts make a very good living in the technology industry with an average annual salary of $79,330. On the other hand, reconciliation analysts are paid the highest salary in the finance industry, with average annual pay of $85,439.When it comes to education, analysts tend to earn higher degree levels compared to reconciliation analysts. In fact, they're 5.4% more likely to earn a Master's Degree, and 1.0% more likely to graduate with a Doctoral Degree.Reconciliation analyst vs. Process analyst
A process analyst is also known as an operations research analyst, who evaluates in detail the steps in producing products and making important decisions as well as providing recommendations on how to enhance them. They are IT specialists that analyze the business process and workflows to determine how they can be computerized and improved. Responsibilities include identifying problems and risks as well as engaging in problem resolution. Important skills to consider for applicants include being innovative thinkers and goal-oriented.
Types of reconciliation analyst
Updated January 8, 2025
