SAQA

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SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE:

Reconcile Nostro and Vostro accounts

SAQA US ID	UNIT STANDARD TITLE
7147	Reconcile Nostro and Vostro accounts
ORIGINATOR
SGB Financial Services
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-
FIELD			SUBFIELD
Field 03 - Business, Commerce and Management Studies			Finance, Economics and Accounting
ABET BAND	UNIT STANDARD TYPE	PRE-2009 NQF LEVEL	NQF LEVEL	CREDITS
Undefined	Regular	Level 3	NQF Level 03	12
REGISTRATION STATUS		REGISTRATION START DATE	REGISTRATION END DATE	SAQA DECISION NUMBER
Passed the End Date - Status was "Reregistered"		2003-12-03	2004-08-11	SAQA 1351/03
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2005-08-11		2008-08-11

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.

This unit standard is replaced by:

US ID	Unit Standard Title	Pre-2009 NQF Level	NQF Level	Credits	Replacement Status
117827	Reconcile Vostro accounts	Level 3	NQF Level 03	8
117840	Reconcile Nostro accounts	Level 3	NQF Level 03	8

PURPOSE OF THE UNIT STANDARD

Persons credited with this unit standard will be able to scrutinise accounts to identify and resolve outstanding items, then follow up on the outstanding items and attend to queries. Competence must be demonstrated in any two areas as indicated in the unit standard range.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

This unit standard should be completed in conjunction with the unit standard to resolve rejected foreign exchange items and SWIFT messages.

UNIT STANDARD RANGE

Duplications, unpaids, wrong mark-ups, mismatches, items lost in transit, unauthorised items.

Specific Outcomes and Assessment Criteria:

SPECIFIC OUTCOME 1

Manage Nostro accounts

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. Steps are taken to ensure that SWIFT statements from foreign banks are incorporated into own Nostro records in the manner required by the bank.

ASSESSMENT CRITERION 2

2. Records of the automatic upload are scrutinised as required by the bank to ensure that statement numbers are present and arranged consecutively.

ASSESSMENT CRITERION 3

3. Manual procedures are performed where required and in line with the bank's policy, to place the foreign bank entries on the system.

SPECIFIC OUTCOME 2

Manage Vostro accounts

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. Steps are taken to ensure that suspense accounts used by internal accounting entities balance against Vostro accounts according to the bank's procedures.

ASSESSMENT CRITERION 2

2. Steps are taken to ensure that message(s) for internal entries passed to Vostro accounts by own branches, are received by the controlling department according to the bank's procedures.

ASSESSMENT CRITERION 3

3. Outstanding balances and reports are handled as required by the bank.

SPECIFIC OUTCOME 3

Scrutinise accounts

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. Accounts are scrutinised to ensure that all entries are recorded in the manner required by the bank.

ASSESSMENT CRITERION 2

2. Manual entries for incidental charges are written up as required by the bank in order to balance the account.

ASSESSMENT CRITERION RANGE

Including but not limited to bank charges, O/D charges, interest received, other accounting adjustments.

ASSESSMENT CRITERION 3

3. Arrangements are made for manual entries to be processed according to the bank's procedures.

ASSESSMENT CRITERION 4

4. Accounts are balanced according to the bank's procedures.

SPECIFIC OUTCOME 4

Identify and resolve outstanding items

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. Outstanding items are identified as per the bank's guidelines.

ASSESSMENT CRITERION 2

2. The appropriate procedure to resolve each outstanding item is identified according tothe bank's guidelines.

ASSESSMENT CRITERION 3

3. Each item is investigated according to the bank's guidelines.

ASSESSMENT CRITERION 4

4. Each action taken in resolving the outstanding items is recorded as required by the bank.

ASSESSMENT CRITERION 5

5. Pending items are followed up according to the bank's guidelines.

ASSESSMENT CRITERION 6

6. Resolved items are recorded and filed according to the bank's procedures.

ASSESSMENT CRITERION 7

7. Details of the resolved and unresolved items are escalated to the affected parties as per the bank's procedures.

SPECIFIC OUTCOME 5

Attend to the interest charges resulting from mismatches

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. The mismatch to be resolved is identified as required by the bank.

ASSESSMENT CRITERION 2

2. The interest to be charged on the mismatch is calculated and the report is annotated according to the bank's procedures.

ASSESSMENT CRITERION 3

3. The interest is claimed as per the bank's procedures.

ASSESSMENT CRITERION 4

4. The interest received is checked and recorded as per the bank's procedures.

ASSESSMENT CRITERION 5

5. The interest received is reported to the appropriate department as required by the bank.

SPECIFIC OUTCOME 6

Handle queries

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. The nature of the query received is identified as required by the bank.

ASSESSMENT CRITERION 2

2. The query is attended to as required by the nature of the query and the bank's procedures.

ASSESSMENT CRITERION 3

3. All queries are handled timeously and in a manner that promotes customer service.

ASSESSMENT CRITERION 4

4. Administrative tasks relating to the query are completed in the manner required by the bank.

ASSESSMENT CRITERION RANGE

Including but not limited to report, notify, record details of a query.

UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS

Accreditation process (including moderation):

Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA.

Any institution offering learning that will enable achievement of this unit standard or assessing this unit standard must be accredited as a provider with the relevant ETQA.

Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines in the relevant qualification and the agreed ETQA procedures.

Therefore anyone wishing to be assessed against this unit standard may apply to be assessed by any assessment agency, assessor or provider institution which is accredited by the relevant ETQA.

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE

an understanding of all relevant banking policies and procedures

an understanding of the workflow

operating and computer systems knowledge sufficient to locate

the necessary information and complete the task

an understanding of operational risk

relevant security precautions

knowledge of internal and foreign bank accounting procedures and practices

knowledge of working contracts with foreign banks

knowledge of the SWIFT system

knowledge of Nostro and Vostro operations

relevant product knowledge

Critical Cross-field Outcomes (CCFO):

UNIT STANDARD CCFO IDENTIFYING

The learner demonstrates the ability to identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made when the appropriate procedure to resolve each outstanding item is identified according to the bank's guidelines.

UNIT STANDARD CCFO WORKING

The learner demonstrates the ability to work effectively with others as a member of a team, group, organisation and community when details of the resolved and unresolved items are escalated to the affected parties as per the bank's procedures.

UNIT STANDARD CCFO ORGANISING

The learner demonstrates the ability to organise and manage oneself and one's activities responsibly and effectively when arrangements are made for manual entries to be processed according to the bank's procedures.

UNIT STANDARD CCFO COMMUNICATING

The learner demonstrates the ability to communicate effectively using visual, mathematical and language skills in the modes of oral and written presentations. Pending items are followed up according to the bank's procedures.

UNIT STANDARD NOTES

This unit standard has been replaced by unit standard 117827, which is "Reconcile Vostro accounts", Level 3, 8 credits and unit standard 117840, which is "Reconcile Nostro accounts", Level 3, 8 credits.

Legal requirements:

All procedures must meet recognised codes of practice as well as obligations required under current legislation within South Africa and within the normal parameters of the defined job/task.

QUALIFICATIONS UTILISING THIS UNIT STANDARD:

	ID	QUALIFICATION TITLE	PRE-2009 NQF LEVEL	NQF LEVEL	STATUS	END DATE	PRIMARY OR DELEGATED QA FUNCTIONARY
Elective	20184	National Certificate: Banking	Level 3	NQF Level 03	Passed the End Date - Status was "Reregistered"	2023-06-30	BANKSETA

PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD:

This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.

1.	Fachs Business Consulting and Training
2.	Octomate Education Pty Ltd
3.	SIGNA ACADEMY (PTY) LTD
4.	Standard Bank Personal and Business Banking
5.	Trainers Without Borders