Description:
Position Summary
The candidate is responsible for managing, processing, and monitoring all financial transactions related to Owner Associations (OA). This role ensures compliance with regulatory requirements, accurate record-keeping, and timely execution of payments, receipts, and reconciliations in coordination with management companies, banks, and regulators.
Key Responsibilities
Payment Processing
Process owner association payments, service charges, utility bills, and supplier settlements.
Ensure payments follow internal approval workflows (initiator, checker, releaser).
Monitor and resolve rejected or delayed transactions.
Receivables & Collections
Track and record service charge collections, deposits, and reserve fund contributions.
Reconcile receivables with OA management companies and bank statements.
Escalate overdue payments as per policy.
Bank Coordination & Compliance
Liaise with banks to ensure smooth processing of OA transactions.
Support compliance with RERA/Mollak requirements and reporting obligations.
Maintain strict adherence to internal controls and financial regulations.
Reporting & Reconciliation
Prepare daily, weekly, and monthly financial reconciliations.
Generate reports for management and regulators (e.g., Mollak reports).
Support audit requirements with accurate documentation.
System & Process Support
Update OA banking systems with transaction details and approvals.
Identify workflow issues and suggest process improvements.
Ensure proper filing and documentation of all bank-related activities.
Qualifications & Skills
Bachelor s degree in Accounting, Finance, or related field.
Minimum 2 4 years of experience in banking, financial operations, or OA-related finance.
Knowledge of RERA/Mollak regulations (preferred).
Strong attention to detail and accuracy in financial processing.
Proficiency in MS Office (Excel, Word, Outlook) and banking platforms.
Strong communication and coordination skills with banks and stakeholders.
Ability to handle multiple tasks and meet deadlines in a high-volume environment.
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