Owner's Association (OA) Finance Manager

DGM Investment; Dubai; Sur place; AED 180 000 - 240 000; Plein temps

Résumé du poste

DGM Properties LLC is seeking an Owner's Association Accountant to manage financial records, service charge collections, vendor payments, budgeting, and regulatory compliance for Dubai JOPs. The role requires strong accounting practices, reconciliations, and reporting aligned with UAE standards.

Ideal candidates have 5–7 years of relevant experience and familiarity with RERA, Mollak, VAT, and OA operations, with a background in property or facilities management preferred.

Qualifications

• Bachelor's degree in Accounting, Finance, or related field.
• Professional accounting certification (ACCA, CPA, CMA) is an advantage.

Responsabilités

• Maintain complete, accurate accounting records for each jointly owned property.
• Record daily financial transactions including service charges, vendor payments, and accruals.
• Prepare and review journal entries and general ledger schedules.
• Perform monthly reconciliations of bank accounts, receivables, payables, and balance sheet accounts.
• Prepare monthly financial reporting packages and budgets-versus-actual reports.
• Coordinate with RERA, Mollak, and regulatory requirements and assist with audits.

Connaissances

Financial reporting

Budgeting

Accounts reconciliation

VAT regulations

Bank reconciliations

Formation

Bachelor's degree in Accounting/Finance

ACCA/CPA/CMA advantage

Outils

Accounting software

Description du poste

The Owner's Association Accountant is responsible for managing and maintaining accurate financial records, service charge collections, accounts payable, budgeting, financial reporting, and statutory compliance for the jointly owned properties (JOPs) managed by DGM Properties LLC.

The role ensures that all financial transactions are properly recorded, supported, reconciled, and reported in accordance with applicable accounting standards, Dubai jointly owned property regulations, Real Estate Regulatory Agency (RERA) requirements, and company policies.

Job Purpose

The Owner's Association Accountant is responsible for managing and maintaining accurate financial records, service charge collections, accounts payable, budgeting, financial reporting, and statutory compliance for the jointly owned properties (JOPs) managed by DGM Properties LLC.

The role ensures that all financial transactions are properly recorded, supported, reconciled, and reported in accordance with applicable accounting standards, Dubai jointly owned property regulations, Real Estate Regulatory Agency (RERA) requirements, and company policies.

Key Duties and Responsibilities

A. General Accounting and Financial Record Management

• Maintain complete, accurate, and up-to-dated accounting records for each managed jointly owned property.
• Record daily financial transactions, including service charge income, collections, vendor payments, accruals, prepayments, and adjustments.
• Maintain separate accounting records, bank reconciliations, and financial reports for each JOP.
• Prepare and review journal entries, general ledger accounts, and supporting schedules.
• Perform monthly reconciliations of bank accounts, receivables, payables, advances, and other balance sheet accounts.
• Ensure proper classification of transactions in accordance with the approved chart of accounts.
• Support monthly and annual financial closing activities.
• Ensure community funds are properly accounted for and are not commingled with the management company's operational funds.

B. Service Charge Billing and Collection Management

• Prepare, verify, and monitor service charge billing in accordance with approved community budgets and applicable regulatory requirements.
• Maintain accurate unit-owner ledgers, including ownership information, service charge assessments, receipts, adjustments, and outstanding balances.
• Monitor service charge collections and reconcile collections against bank statements and owner accounts.
• Issue account statements, payment confirmations, and financial reconciliations when required.
• Investigate and resolve billing discrepancies, unidentified receipts, and incorrect owner allocations.
• Prepare collection forecasts and identify overdue accounts requiring escalation.
• Maintain accurate documentation supporting collection and recovery actions.

C. Accounts Payable Oversight

• Oversee the verification of vendor invoices against approved contracts, purchase orders, work orders, and service completion reports.
• Ensure invoices comply with the approved JOP budgets, contractual terms, and applicable regulatory requirements.
• Review and elevate discrepancies, duplicate invoices, unsupported charges, and unauthorized expenditures.
• Supervise and monitor the accounts payable activities of assigned JOPs.
• Ensure proper recognition of expenses, accruals, and payables in the correct accounting periods.
• Oversee the preparation and scheduling of vendor payments by the designated accounts payable personnel.

D. Budget Preparation and Budgetary Control

• Assist in preparing annual operating budgets and reserve fund requirements for each managed JOP.
• Coordinate with Community Management, Facility Management, and other relevant departments to obtain budget assumptions.
• Analyze historical operating expenses, service contracts, utilities, and maintenance requirements.
• Prepare monthly budget-versus-actual reports and explain significant variances.
• Monitor spending against approved budgets and flag potential budget overruns.
• Assist in preparing service charge budget submissions and supporting schedules for regulatory review.

E. Financial Reporting and Management Information

• Prepare monthly financial reporting packages for each managed JOP.
• Prepare income and expenditure statements, statements of financial position, cash flow reports, and supporting schedules, as applicable.
• Prepare monthly service charge collection reports and outstanding receivables analyses.
• Monitor community liquidity and prepare short-term cash flow forecasts.
• Prepare monthly financial dashboards covering collections, expenditures, outstanding liabilities, and budget performance.
• Provide financial analysis and explanations of significant movements in community accounts.
• Prepare financial information requested by the Finance Manager, Community Manager, management, auditors, and authorized stakeholders.
• Ensure financial reports are submitted accurately and within established reporting deadlines.

F. RERA, Mollak, and Regulatory Compliance

• Maintain accurate financial information and supporting documentation required for Dubai jointly owned property management.
• Support service charge budget submissions and reconciliations through the applicable RERA and Mollak processes.
• Ensure service charge billing and expenditure reporting are aligned with approved budgets and applicable regulations.
• Coordinate the reconciliation of Mollak-related collection records with the accounting system and bank statements.
• Maintain documentation for regulatory inspections, audits, and financial reviews.
• Support compliance with applicable RERA, Dubai Land Department, and jointly owned property requirements.
• Monitor the accounting and reporting of community reserve funds and approved expenditures.
• Escalate potential regulatory or financial compliance issues to the Finance Manager.

G. Statutory Audit and Financial Compliance

• Prepare annual audit schedules and supporting documents for each managed JOP.
• Coordinate with external auditors and provide requested reconciliations, confirmations, and accounting records.
• Assist in preparing financial statements in accordance with applicable IFRS requirements.
• Maintain organized documentation for service charge income, operating expenses, bank balances, receivables, and payables.
• Support the timely resolution of audit findings and accounting adjustments.
• Assist in reviewing VAT treatment and related tax compliance matters, where applicable.
• Ensure proper retention of financial documents and compliance with internal financial control procedures.

H. Bank, Cash Flow, and Fund Management

• Prepare monthly bank reconciliations for each community account.
• Monitor available bank balances, expected service charge collections, and upcoming payment obligations.
• Prepare weekly and monthly community cash flow reports.
• Track operating funds, reserve funds, and other restricted community balances separately.
• Verify that payments are made from the appropriate community accounts and supported by approved documentation.
• Investigate unreconciled bank transactions and resolve outstanding reconciling items promptly.
• Escalate projected cash shortfalls and potential funding requirements to management.

Preferred Candidate Profile

• Bachelor's degree in Accounting, Finance, or a related field.
• Professional accounting certification such as ACCA, CPA, CMA, or equivalent is an advantage.
• Strong knowledge of financial reporting, budgeting, accounts reconciliation, and audit procedures.
• Minimum 5–7 years of relevant experience in finance and accounting, preferably within Owner's Associations (OA), community management, or Facilities Management (FM).
• Proven experience managing service charge budgets, collections, operating expenses, and financial reporting.
• Experience coordinating with property management teams, facilities management companies, auditors, and OA management committees.
• Knowledge of UAE accounting practices, VAT regulations, and applicable financial compliance requirements.
• Experience in bank reconciliations, accounts payable and receivable, cash flow monitoring, and annual budget preparation.
• Familiarity with property management and accounting software is preferred.

Candidates with direct experience in Owner's Association management and Facilities Management companies in the UAE are strongly preferred, particularly those who have managed service charge accounts, community operating budgets, and financial reporting for multiple buildings or communities.