Senior Financial Accountant (Owners Association/Community Management)
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Key skills for this role
About the Role
Palazzo Versace Dubai seeks a Senior Financial Accountant to manage Owners Association finances, including budgeting, service charge calculations, and compliance with RERA regulations.
Key Skills for This Role
Responsibilities
- Prepare Owners Association budgets & calculation of Service Charges in accordance with STRATA Law and RERA regulations
- Facilitate release of payments to service providers and suppliers in line with approved budget and RERA/Escrow Trustee requirements
- Use RERA's Mollak system to generate and issue Service Charges invoices to Residence Owners on time
- Manage service charges collection process, maintain records, track outstanding, and reconcile amounts in regulated bank account and Mollak system
- Facilitate invoicing, collection and depositing of other OA incomes (hot water, potable water, gas charges, penalties) and maintain records
- Prepare financial reports as required by Auditors & RERA
- Track VAT collected & paid and ensure timely filing of VAT returns and payments
- Provide periodical MIS reports to management
- Perform other standard bookkeeping & accounting tasks associated with day to day operations of STRATA/Body corporate
Requirements
- Bachelor's Degree in Accounting, Finance, or a related discipline
- Minimum 3 years of hands on Owners Association (OA), Community Management, STRATA, or Property Management accounting experience
- Strong working knowledge of RERA regulations, STRATA Law, and Owners Association financial requirements
- Hands on experience using the Mollak system for service charge budgeting, invoicing, collections, and reporting
- Proven experience in service charge accounting, budgeting, collections, and bank reconciliations
- Sound knowledge of UAE VAT regulations and financial reporting requirements
- Proficiency in accounting software and advanced Microsoft Excel
- Strong analytical, organizational, and problem solving skills
- Excellent communication skills in English, both written and verbal
- Ability to work independently and manage the complete accounting function of a residential community or Owners Association
Full Job Posting
Key Responsibilities
- Prepare Owners Association budgets & calculation of Service Charges in accordance with STRATA Law and RERA regulations.
- Facilitate release of payments to various service providers and suppliers in line with approved budget and RERA/Escrow Trustee requirements.
- Well versed with RERA's Mollak system to facilitate generation and issuance of Service Charges invoices to Residence Owners on time.
- Manage service charges collection process, maintain records, track outstanding, and reconcile amounts in regulated bank account and Mollak system.
- Facilitate invoicing, collection and depositing of other OA incomes such as Hot Water, Potable Water, Gas charges, Penalties etc.
- Prepare financial reports as required by Auditors & RERA.
- Keep track of VAT collected & paid and ensure timely filing of VAT returns and/or payments.
- Provide periodical MIS reports to management.
- Perform other standard bookkeeping & accounting tasks associated with day to day operations and management of STRATA / Body corporate.
Candidate Requirements
- Bachelor's Degree in Accounting, Finance, or a related discipline.
- Minimum 3 years of hands on Owners Association (OA), Community Management, STRATA, or Property Management accounting experience.
- Strong working knowledge of RERA regulations, STRATA Law, and Owners Association financial requirements.
- Hands on experience using the Mollak system for service charge budgeting, invoicing, collections, and reporting.
- Proven experience in service charge accounting, budgeting, collections, and bank reconciliations.
- Sound knowledge of UAE VAT regulations and financial reporting requirements.
- Proficiency in accounting software and advanced Microsoft Excel.
- Strong analytical, organizational, and problem solving skills.
- Excellent communication skills in English, both written and verbal.
- Ability to work independently and manage the complete accounting function of a residential community or Owners Association.
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