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Grace Ngugi

@gracengugi1

Reconciliation and settlement leader at Cellulant, established Group controls across 30+ markets and automated payment reconciliations.

Kenya

Message

At Cellulant Corporation, I established the Group reconciliation and settlement governance, risk and control framework across subsidiaries in 30+ markets. I introduced reconciliation automation for mobile money, IPSS and card transactions, reducing manual processing hours, and built a 10-person multi-country team.

At Co-operative Bank of Kenya, I led the 2023 core banking migration from BFUB to Finacle, overseeing reconciliation and validation of customer records and historical transactions. I also strengthened control frameworks and audit remediation, achieving a sustained reduction in external audit management letter findings over six consecutive years.

Across banking and fintech, I have worked on reconciliation, settlement, operational risk, regulatory compliance and business continuity. I hold a Master of Economics (Finance Option) and CPA(K).

Experience

Work history, roles, and key accomplishments

Current

Senior Manager, Reconciliation and Settlement

Current

Cellulant Corporation

Mar 2024 - Present (2 years 8 months)

Established the Group reconciliation and settlement governance and risk and control framework across 30+ markets, and directed reconciliation automation to reduce manual processing hours. Built and led a 10-person multi-country team and represented the function at the CBK Steering Committee.

Reconciliations Settlements Governance Risk Management Control Automation Team Leadership Stakeholder Management Business Continuity Management Operational Risk

Manager, Financial Control and Reconciliation

Co-operative Bank of Kenya

Sep 2017 - Feb 2024 (6 years 5 months)

Led the 2023 core banking migration from BFUB to Finacle, ensuring data integrity and zero branch disruption. Achieved sustained reduction in external audit findings over six years and governed daily reconciliation of suspense accounts.

Reconciliations Financial Control Audit Management Regulatory Compliance Core Banking Migration Risk Management Team Leadership Process Improvement

Assistant Manager, Financial Control and Reconciliation

Co-operative Bank of Kenya

Jan 2016 - Aug 2017 (1 year 7 months)

Centralized card reconciliation operations into a single controlled framework, delivering cost efficiencies and reducing turnaround time. Identified fraud risk patterns and material control errors through variance and trend analysis.

Reconciliations Card Operations Fraud and Risk Variance Analysis SLA Management Team Supervision Reporting

Assistant Accountant, Card and Alternative Payment Channels

Co-operative Bank of Kenya

Jan 2014 - Dec 2015 (1 year 11 months)

Led the HELB prepaid card implementation, establishing reconciliation and controls from launch. Validated BAI mapping for card payment processing and reconciled card business general ledger accounts.

Reconciliations Card Payment General Ledger Accountant BAI Mapping Process Improvement Financial Reporting

Credit Risk Analyst

Co-operative Bank of Kenya

Jan 2012 - Dec 2013 (1 year 11 months)

Implemented an automated loan tracking system that reduced processing turnaround time and improved SLA compliance. Analysed credit proposals for accuracy and policy alignment, achieving over 90% approval-to-disbursement conversion.

Credit Risk Loan Processing Policy Compliance Risk Assessment Automation

SWIFT and Money Transfer Controls Analyst

Co-operative Bank of Kenya

Jan 2010 - Dec 2011 (1 year 11 months)

Owned direct reconciliation of offshore Nostro accounts and SWIFT transfers, resolving long-outstanding items. Facilitated centralization of branch-level reconciliation processes and governed reconciliation of M-Pesa, MoneyGram, and Western Union partnerships.

Nostro Reconciliation Swift Money Transfers M Pesa MoneyGram Western Union Exception Management Centralization