UAEN Only - Vice President, Centralized Payments

Role Overview

Vice President, Centralized Payments at Mashreq. This role is open to UAE nationals only and is based in the UAE.

Role Purpose

Manage all payments relating to external vendors across the Mashreqbank Group, including Mashreqbank, Osool, Injaz, MIT, Mashreq Securities, Mashreq Capital, Mashreq Al Islami Finance, and overseas branches in Qatar, Bahrain, Kuwait, and Oman. Provide expertise for Oracle Payable and Fixed Assets implementation for new entities and branches.

Key Responsibilities

Subsidiary Administration

• Administer entire accounting functions relating to Mashreq Subsidiary Injaz, including maintenance of books of accounts, statutory audit, and preparation of audited financial statements for Board of Directors' approval.

Vendor & Supplier Payments

• Manage payments for the bank, centralized subsidiaries, and overseas branches to external suppliers of goods and services forming part of Admin Expenses based on approval as per Authority Delegation of respective companies and branches.
• Maintain turnaround time for invoice processing and ensure a high level of satisfaction to internal customers.

Staff Cost Management

• Manage accounting for payments to staff of centralized entities forming part of Staff Costs in line with HR Policies including Salaries, Allowances, other benefits, and reimbursement of expenses.

Financial Recording & Systems

• 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, and I-flex in line with Accounting Policies and Procedures Manual under approved Chart of Accounts duly segregated as per segment distributions in the books of respective companies.

Payment Controls & Compliance

• Ensure all payment approvals received and processed by the unit are verified for genuineness, proper authority, policy compliance, matching of LPO with invoices, duplication of payments, and accuracy in order to avoid inherent financial risks.
• Ensure correctness and appropriateness of month-end provisions and cost allocations to various cost centres and units within respective companies.

Systems Enhancement & Implementation

• Conceptualize systems capability enhancement and automation of manual processes, develop specifications, and arrange UAT and authentication of correct results for implementation.
• Assist in implementing Oracle Accounts Payable for new entities including management and coordination for configuration requirements in Oracle Financials modules namely Fixed Assets, Purchases, Inventory, and Accounts Payable.

Qualifications & Experience

• UAE National status is mandatory.
• Chartered Accountant (CA) qualification is mandatory.
• Minimum 15 years of progressive experience in accounting, finance, or centralized payment operations.
• Extensive experience in centralized payments, reconciliation, and settlement operations within banking or large financial institutions.
• Strong expertise in Accounting Policies, Procedures, IFRS, and internal control frameworks, particularly related to payments and financial reporting.
• Proven hands-on experience with core banking and finance systems, including Flexcube, Oracle GL, Oracle Payables, and Oracle Fixed Assets.
• In-depth knowledge and practical exposure to UAE payment systems, including UAEFTS and WPS, ensuring regulatory compliance and operational efficiency.
• Experience working with EDMS (Electronic Document Management Systems) for payment documentation, audit trails, and regulatory reporting.

Skills & Competencies

• Strong understanding of the local regulatory, banking, and payments landscape in the UAE.
• Demonstrated strong analytical and problem-solving skills, with the ability to interpret complex financial data, identify root causes, and implement process improvements.
• Proven leadership experience in managing, mentoring, and developing teams, with the ability to drive performance in a centralized payments environment.
• Excellent interpersonal, written, and verbal communication skills, with the ability to engage effectively with senior management, regulators, auditors, and internal stakeholders.