Senior Financial Accountant (Owners Association/Community Management)

Role Overview

Senior Financial Accountant (Owners Association/Community Management) at Palazzo Versace Dubai, Dubai.

Role Purpose

Manage all financial operations for the Owners Association, including budgeting, service charge administration, compliance with RERA regulations, payment processing, collections, and reporting.

Key Responsibilities

Budget & Regulatory Compliance

• Prepare Owners Association budgets and calculation of Service Charges in accordance with STRATA Law and Rules and Regulations prescribed by the Real Estate Regulatory Agency, Dubai (RERA).
• Keep track of VAT collected and paid and ensure timely filing of VAT returns and payments to the respective authority.
• Prepare financial reports as required by the Auditors and RERA.

Payment & Service Provider Management

• 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.

Service Charges Administration

• Manage the service charges collection process and maintain records of Service Charges received from Residence Owners.
• Track outstanding service charges and reconciliation of amounts received in the Regulated bank account and RERA's Mollak system.
• Demonstrate proficiency with RERA's Mollak system to facilitate generation and issuance of Service Charges invoices to Residence Owners on time.

Additional Income & Collections

• Facilitate invoicing, collection and depositing of other Owners Association incomes such as Hot Water, Potable Water, Gas charges, and Penalties received.
• Maintain proper records of all additional income transactions.

Reporting & Management Support

• Provide periodical MIS reports to management.

General Accounting Operations

• Perform standard bookkeeping and accounting tasks associated with day-to-day operations and management of STRATA/Body corporate.
• Maintain accounting records of all associated financial transactions.