Officer - Escrow | Sharjah, UAE

Sharjah Islamic Bank; Sharjah; On-site; AED 120,000 - 150,000; Full time

Job summary

A leading bank in Sharjah is seeking an Escrow Accounts Specialist to manage daily activities related to Escrow Accounts and Suspense Account Reconciliation. The ideal candidate will ensure compliance with regulatory requirements and maintain effective communication with investors and departments. This role requires strong technical skills, integrity, and a solid background in corporate banking.

Qualifications

• 4-5 years in corporate banking, particularly in relationship management.
• Strong written and spoken Arabic & English.

Responsibilities

• Process day-to-day activities related to Escrow Accounts.
• Review monthly reconciliation sheets for accuracy and completeness.
• Prepare MIS reports and respond to investor inquiries.

Skills

Time Management Skills

Interpersonal Skills

Good Communication Skills

Honesty

Integrity

Confidentiality

Ethical Standards

Education

Bachelor’s degree in Accounting

Diploma in Information Administration

Diploma in Banking

Tools

MS Office

T24 Software

Job description

Job Purpose:
To process day-to-day activities related to Escrow Accounts in accordance with regulatory requirements, SIB policies, and procedures, including Suspense Account Reconciliation. To review monthly reconciliation sheets prepared by Departments/Branches to ensure adherence to uniform policies and procedures in the preparation and clearing of outstanding amounts in suspense accounts.

Key Accountabilities:

1. Escrow Accounts
   - Download payments and new account activation approvals from TAS.
   - Prepare supporting vouchers for all types of payments and input entries into T24.
   - Monitor inflow funds without buyer codes and coordinate with Developers to obtain them.
   - Respond promptly to investor inquiries.
   - Prepare daily cheque deposit lists.
   - Maintain cheque return lists.
   - Liaise with ICCS team for cheques to be sent for clearing.
   - Prepare MIS reports.
   - Perform any other duties assigned by the Head of Division.
2. Suspense Accounts Reconciliation
   - Check the GL report to ensure timely submission of reconciliation sheets by Branches and HO departments.
   - Review sheets for accuracy, justification, and completeness.
   - Report discrepancies to the concerned branch/department on an escalation basis.
   - Follow up appropriately.
   - Prepare reports for management.

Technical Skills:

• Time Management Skills
• Proficiency in Microsoft Office (Word, Excel, PowerPoint)
• Interpersonal Skills and Good Communication Skills
• Honesty, Integrity, Confidentiality, and Ethical Standards
• Background in accounting standards and multi-task handling

Qualifications & Experience:

• Minimum Qualifications: Bachelor’s degree or Diploma in Accounting, Information Administration, or Banking
• Minimum Experience: 4-5 years in corporate banking, particularly in relationship management
• Computer/Systems/Software Skills: 3 years of experience with MS Office and T24 Software (Expert level)
• Language Skills: Strong written and spoken Arabic & English