Purpose:

The Bank Verification Specialist is responsible for validating and maintaining accurate banking information for vendor and customer accounts. This role plays a critical part in safeguarding financial transactions, ensuring compliance with Governance and SOPs, and preventing fraud.

Responsibilities

• Perform detailed analysis of each bank change or creation request to ensure it complies with Vendor Master Governance policies and internal controls.
• Conduct due diligence checks to confirm accuracy, legitimacy, and completeness of financial information.
• Verify and validate bank account details for third-party partners, suppliers and customers, mostly US based but also some international parties.
• Review and process banking change requests, ensuring proper documentation, approvals, and adherence to standards.
• Collaborate with Accounts Payable, Procurement, and Compliance teams to resolve discrepancies and enforce data governance standards.
• Monitor and flag suspicious activities or potential fraud risks related to banking data.
• Maintain up-to-date and accurate vendor banking records in ERP systems (e.g., SAP, Oracle).
• Ensure adherence to internal controls, SOX compliance, and global regulatory requirements.
• Support internal and external audits by providing required documentation and analysis.
• Assist in continuous improvement of verification processes, controls, and Vendor Master Governance practices.