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Job Purpose
1. Manage payments for centralized companies 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 satisfaction to internal customers.
2. Manage payments to staff of centralized companies forming part of Staff Costs in line with HR Policies e.g. Salaries & Allowances, other benefits, reimbursement of expenses incurred for Companies’ business, duly authorized as per Authority Delegation Manual.
3. 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 Chart of Accounts duly segregated as per segment distributions in the books of respective companies listed above.
4. Ensure all payment approvals received / processed by the unit for genuineness, proper authority, HR 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 and cost allocations to various cost centre / units within respective companies.
Manage all payments relating to external vendors for various companies forming part of Mashreq Group viz. Mashreq , Osool, Injaz, MIT, IDFAA, Mashreq Securities, Mashreq Capital, Mashreq Al Islami Finance, and overseas branches viz. Qatar, Bahrain, Kuwait.
Responsible for managing all payments to staff including monthly payroll for above entities.
Administer entire accounting functions relating to TBMS, Injaz, and Al Kafa’at, including maintenance of books of accounts, their audit and audited financial statements for Board of Directors’ approval.
Provide expertise for set up of Oracle Payable, Fixed Assets and HRMS implementation for any new company / branch.
Key Result Areas
Conceptualize systems capability enhancement/automation of manual processes, develop specifications and arrange UAT and authentication of correct results for implementation.
Implement Oracle Accounts Payable and HRMS for new companies / branches. Include management and coordination for configuration requirements in Oracle Financials modules namely Payroll, Fixed Assets, Purchases, Inventory and Accounts Payable.
Implement and monitor controls to ensure accuracy of records for allocation of operational costs, Blank Pay Orders besides being signatory for other companies assist ORM team with Prepare Operational Loss booking process and control transactions.
Management of various suspense accounts (e.g. Prepaid Expenses, Advance for Work & Purchases, Advance to Suppliers, Recoverable from staff & others, Gratuity, Hold, Performance Bonus, Retention Bonus and other HRMS related account and ensure regular follow up and timely settlement avoiding inherent risks.
Organize timely review of reconciliation of all nostro, inter branch, inter company, pay orders, subsidiary suspense accounts, bank accounts etc. relating to all companies forming part of Mashreq Group, Injaz, IDFAA,TBMS and Al Kafa’at. MIT, Bahrain, Kuwait and Qatar,Include reporting, resolution and escalation of open items.
Manage Custody of Blank Payorders of Mashreq UAE, Kuwait, Bahrain and Kuwait.
Make arrangement to provide required information for quarterly Balance Sheet e.g. Prepaid Expenses, Accruals statements, variance analysis of expenses and explanation / reasons for the same, other audit requirements and LF member payments.
Manage the Fixed Assets of the Mashreq Group in accordance with the bank policy including New York, London and Hongkong.
Manage VAT Transactions/payments of Mashreq UAE and Bahrain at Centralized Payment Unit. Compliance to VAT law regulations related to all payments. Advise and assist Business with VAT regulations.
Coordinate with Admin Dept / MIT for review of cost booked in Project accounts for their reclassification as Fixed Asset / Capitalized Expenditure / Expenses.
Manage all the communication and network lines from DU and Etisalat total lines around 20000. Managing new lines, disconnections, allocation across bank along with ensuring timely payments and reconciliation of each line. Coordination with DU, Etisalat and IT, function centralized at Payments Unit.
Manage the outsourced activities with MGN India and Pakistan for AP, HRMS and Fixed Assets. Ascertain staff training and development and set MBOs and other issues. Look after smooth functioning of unit during leave period of Manager Centralized Payments.
Knowledge, Skills And Experience
The incumbent should be a chartered accountant, with minimum 15 years of work experience with good knowledge of Accounting Policies and Procedures and analytical skills in the field of Accounting.
Knowledge of systems – Flexcube, Oracle Fixed Assets, WPS, EDMS , UAEFTS , Oracle HRMS, Oracle Payables and Oracle GL and proficiency in other computer application software.
He should have excellent inter personal and written / spoken communication skills
One of the UAEs best performing banks for over five decades, Mashreq is a leading financial institution with an expanding footprint across the Middle East and North Africa with a strong presence in the financial capitals of the world with international offices in Europe, Asia, Africa and the US.