Senior Financial Accountant (Owners Association/Community Management)
Key Responsibilities:
Prepare Owners Association budgets & calculation of Service Charges in accordance with the STRATA Law and other Rules and Regulations as prescribed by the Real Estate Regulatory Agency, Dubai (RERA).
Facilitate release of payments to various service providers and suppliers in line with the approved budget and as per requirements prescribed by RERA and Escrow Trustee bank.
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 of Service Charges received from the Residence Owners, track outstanding service charges and reconciliation of the amount received in the Regulated bank account and RERA’s Mollak system.
Facilitate Invoicing, Collection and Depositing of other OA incomes such as Hot Water, Potable Water, Gas charges, Penalties etc. received and maintain proper records of the same.
Prepare financial reports as required by the Auditors & RERA.
Keep track of VAT collected & paid and ensure timely filing of VAT returns and / or payments to the respective authority.
Provide periodical MIS reports to the management.
Perform other standard book keeping & accounting tasks associated with the day-today operations and management of STRATA / Body corporate and maintain accounting records of all associated financial transactions.
Requirements
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.