SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
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   
117840  Reconcile Nostro accounts  Level 3  NQF Level 03   

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 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.