Senior Accounts Officer

Job Description

JOB PURPOSE:

• To provide financial and administrative services to support the operations of the Operational Finance section of the Finance department, specifically security deposit refund, management fee calculations and preparation of transfer vouchers

Generic AccountabilityTeam Supervision

• Provide guidance and on the job training for junior colleagues and conduct knowledge sharing to facilitate achievement of team objectives and completion of tasks in an efficient manner which is consistent with operating procedures and policy
• Promote the organisations values and ethics in all activities within the team to support the establishment of a value driven within the bank

Budgeting and Financial Performance

• Monitor the financial performance of a given area of activity versus budgets and ensure all activities are carried out in line with the approved guidelines while promptly reporting on any variances to management

Policies, Systems, Processes & Procedures

• Provide inputs and implement policies, systems and procedure for the assigned team so that all relevant procedural/legislative requirements, are fulfilled while delivering a quality, cost-effective service

Continuous Improvement

• Participate in the identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global standards, productivity improvement and cost reduction

Reporting

• Prepare sectional statements and reports timely and accurately to meet FGB-NBAD and department requirements, policies and quality standards

Job Specific Accountabilities

• Receive break lease requests/Security deposit refund requests from Leasing, review them to ensure all the necessary documentation and approvals are in place
• Check the schedule of the security deposit for the availability of the amount, adjust it for any maintenance expenses and process the refund
• Prepare request mentioning the amount to be refunded to the tenant and send it to the banks Transactional Banking Operations (TBO) to issue a Managers cheque or a bank transfer
• Update the security deposit schedule after processing the refund including updating the expense register for recording maintenance expenses charged to tenant and its recovery
• Process the tenancy contract cancellation and the affiliated receipts based upon the approval provided
• Receive break lease requests from Leasing and review them to ensure that all necessary documentation and approvals are in place
• Process the break lease request in the PM system and check for any returned cheques in the excel record sheet
• Make a PDC retrieval request to the banks PDC Lodgement team and onward delivery to the new landlord. Calculate the balance rent and security deposit after adjustment of maintenance expenses and update the expense sheet accordingly
• Request the banks TBO department for a Managers Cheque or bank transfer in favour of the tenant because of the break lease
• Prepare a unit-wise and team-wise reconciliation of security deposits collected from the tenants and reconcile monthly with the banks dedicated security deposit bank account
• Download the management fee report from the system at month end and review the report for any abnormal entries
• Prepare a consolidated property-wise list of management fees and process voucher for recording the management fee after adjusting for the termination, cancellation of tenancy contracts and long leases
• Record management fee in the books, and post voucher for collection of management fee by debiting the owners account
• Update the PM system daily for cheques realised the previous day
• Print the list of all PDC cheques related to the property from PM system on handover or change of owner prepare a retrieval request and send to banks PDC Lodgement team for the retrieval of the cheques
• Prepare the consolidation of the expense register at the beginning of each month for the transactions which took place during the previous month for the inclusion in the owners reports
• Print various reports from PM system at the beginning of the month for the AVP & Lead Operational Finance review, before onward submission to the owners
• Undertake any other task assigned by the AVP & Lead Operational Finance in the performance of his/her duties
• Provide backup support if an employee goes on vacation or sick leave

QualificationsMinimum Qualification

• Bachelors degree in Accountancy or Commerce, or another related discipline is required

Minimum Experience

• Seven years general Accounting Experience is required

Keyskills :

About Company

FAB, the UAE’s largest bank and one of the world’s largest financial institutions offers a an extensive range of tailor-made solutions, and products and services, to provide a customised banking experience. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises.
Headquartered in Abu Dhabi, in Khalifa Business Park, the bank’s international network spans over 19 countries, across the world, providing the global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad. In line with its commitment to put customers first, to Grow Stronger, FAB will continually invest in people and technology to create the most customer-friendly banking experience and will support the growth ambitions of its stakeholders across the global network in which the bank operates.