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Associate Manager Finance, Escrow

2 months ago

Dubai, United Arab Emirates Majid Al Futtaim Full time

**Role Purpose**:

- Manage Escrow accounts for all phases
- Manage reconciliation of TAS (RERA) records
- Prepare Management reports, forecasts and budgets
- Manage cash flow forecasting
- Update feasibilities for launched phases
- Coordinate with Auditors

**Role Details - Key Responsibilities and Accountabilities**:
**Escrow Management**:

- Update all instalments and registrations inflows on TAS portals
- Manage coordination with banks & GS Team for payments
- Raise payment requests on portal and coordinate with banks for payment release
- Reconcile TAS records for RERA Audit
- Prepare claim from Escrow accounts for Commission Clawbacks
- Monitor bank balances on Infrastructure Escrow account and ensure funding from respective Escrow accounts/Equity
- Ensure Financial Compliances to RERA for Infrastructure Escrow account
- Approach RERA and Escrow Agents for account activation requests
- Coordinate with RERA IT for technical issues and miscellaneous requests
- Coordinate with RERA, Bank & Government relations for Profit withdrawal

**Management Reporting & Audits**:

- Manage monthly Revenue recognition as per IFRS
- Prepare monthly Management Reports (Sales, collections, Cashflows, Income statement & Balance sheet)
- Provide variance analysis for Actuals Vs Budget for P&L and cash flow
- Review and Reconciliation of Balance sheet account with GS & Account receivables
- Prepare annual budgets, quarterly forecasting and 5-year Strat plans
- Update feasibilities for the launched phases
- Review of Fixed Asset register and capitalizing any new assets
- Prepare audit schedules for External, internal & RERA audits

**Qualifications**:
Master/Bachelor’s degree in Accountancy. CA/CPA/ACCA Preferred.

**Experience**:
Minimum 5-8 years of experience working within Real Estate Finance function relating to Escrow Management & Reporting.

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