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.