UAEN Only - Vice President, Centralized Payments
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Key skills for this role
About the Role
Mashreq Corporate & Investment Banking Group seeks a VP Centralized Payments to manage vendor payments, accounting, and system implementation for the bank and subsidiaries. Requires CA qualification, 15+ years experience, and expertise in Oracle Financials and UAE payment systems.
Key Skills for This Role
Responsibilities
- Manage all payments relating to external vendors for various companies forming part of Mashreqbank Group
- Administer entire accounting functions relating to Mashreq Subsidiary Injaz, including maintenance of books of accounts, statutory audit and preparation of audited financial statements
- Manage payments for the bank, centralized subsidiaries and overseas branches to external suppliers
- Manage accounting for payments done for staff of centralized entities
- Manage timely and accurate recording of accounting transactions in Oracle Financials
- Ensure all payment approvals received/processed for genuineness, proper authority, policies, matching of LPO with invoices, duplication of payments, accuracy
- Conceptualize systems capability enhancement/automation of manual processes, develop specifications and arrange UAT
- Assist in implementing Oracle Accounts Payable for new entities
Requirements
- UAE National only
- Chartered Accountant (CA) qualification is mandatory
- Minimum 15 years of progressive experience in accounting, finance, or centralized payment operations
- Extensive experience in centralized payments, reconciliation, and settlement operations within banking or large financial institutions
- Strong expertise in Accounting Policies, Procedures, IFRS, and internal control frameworks
- Proven hands on experience with core banking and finance systems, including Flexcube, Oracle GL, Oracle Payables, and Oracle Fixed Assets
- In depth knowledge and practical exposure to UAE payment systems, including UAEFTS and WPS
- Experience working with EDMS for payment documentation, audit trails, and regulatory reporting
- Demonstrated strong analytical and problem solving skills
- Proven leadership experience in managing, mentoring, and developing teams
- Excellent interpersonal, written, and verbal communication skills
Full Job Posting
Overview
- The VP Centralized Payments will manage all payments relating to external vendors for various companies forming part of Mashreqbank Group including Mashreqbank, Osool, Injaz, MIT, Mashreq Securities, Mashreq Capital, Mashreq Al Islami Finance, and overseas branches viz. Qatar, Bahrain, Kuwait, Oman
Responsibilities
- Administer entire accounting functions relating to Mashreq Subsidiary Injaz, including maintenance of books of accounts, its statutory audit and preparation of audited financial statements for Board of Directors’ approval.
- Manage payments for the bank, centralized subsidiaries and overseas branches to external suppliers of goods and services forming part of Admin Expenses based on approval as per Authority Delegation of respective companies / branches. Maintain TAT for invoice processing and ensure a high level of sat
- Manage accounting for payments done for staff of centralized entities forming part of Staff Costs in line with HR Policies e.g. Salaries & Allowances, other benefits, reimbursement of expenses.
- Manage timely and accurate recording of accounting transactions related to payments made to external suppliers and staff in Oracle Financials (Accounts Payable, Fixed Asset, General Ledger), HRMS, WPS, UAEFTS, I flex and I flex in line with Accounting Policies & Procedures Manual under approved Char
- Ensure all payment approvals received / processed by the unit for genuineness, proper authority, Policies, matching of LPO with invoices, duplication of payments, accuracy, correct recording in order to avoid inherent financial risks. Also ensure correctness / appropriateness of month end provisions
- Conceptualize systems capability enhancement/automation of manual processes, develop specifications and arrange UAT and authentication of correct results for implementation. Further, assist in implementing Oracle Accounts Payable for new entities including management and coordination for configurati
Requirements
- UAE National only, with strong understanding of the local regulatory, banking, and payments landscape in the UAE.
- Chartered Accountant (CA) qualification is mandatory, with minimum 15 years of progressive experience in accounting, finance, or centralized payment operations.
- Extensive experience in centralized payments, reconciliation, and settlement operations within banking or large financial institutions.
- Strong expertise in Accounting Policies, Procedures, IFRS, and internal control frameworks, particularly related to payments and financial reporting.
- Proven hands on experience with core banking and finance systems, including Flexcube, Oracle GL, Oracle Payables, and Oracle Fixed Assets.
- In depth knowledge and practical exposure to UAE payment systems, including UAEFTS and WPS, ensuring regulatory compliance and operational efficiency.
- Experience working with EDMS (Electronic Document Management Systems) for payment documentation, audit trails, and regulatory reporting.
- Demonstrated strong analytical and problem solving skills, with the ability to interpret complex financial data, identify root causes, and implement process improvements.
- Proven leadership experience in managing, mentoring, and developing teams, with the ability to drive performance in a centralized payments environment.
- Excellent interpersonal, written, and verbal communication skills, with the ability to engage effectively with senior management, regulators, auditors, and internal stakeholders.
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