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Collection Specialist

Employer
Dubai Investments
Location
Dubai, United Arab Emirates
Salary
Competitive
Closing date
Jun 9, 2024

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Job Function
Accounting/Audit/Tax
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Job Description

Responsible for collection from accounts receivables, resolving overdue bills, monitoring accounts receivable balances, keeping accurate and complete records on collection activities, periodical reporting to the regulatory authorities (DLD, Escrow Bank, RERA) and management on collection of funds from the customers

Responsibilities

  1. Review contracts with the customers (SPA) and agreed payment terms
  2. Review accounts receivables ageing report from the systems
  3. Identify the payment timeline and send reminder notice to the customers on payments due as per the contracts and Send invoices to the customers as and when it is due, Ensure timely deposits in the bank and properly recording into the system
  4. Arrange receipt of funds against the due amount and Issue receipts to the customers against payments, Prepare cash balance reports, daily collection reports, PDCs on hand reports on a periodical basis
  5. Reconcile the receipt amount with the bank statements, Allocate receipt amount to customer account upon realization of funds in the bank statements
  6. Maintain and update periodically collection records
  7. Maintain cordial relationship with the customers
  8. Assist in improving overall cash inflow of the company
  9. Report the collection information to the management and regulatory authorities as and when requested
  10. Take appropriate action to encourage customers to pay timely and in accordance with the contracts ,Enhance and improve internal controls with regards to the collection process
  11. Coordinate with the legal for recoverability of long overdue customer balances
  12. Streamline the process for invoicing, receipt and reporting for management of account receivables , and Prepare bank reconciliation statement on a daily basis for the revenue accounts
  13. Ensure timely recording of customer data e.g. contact details, legal status, name, physical address, proof of identify and residence, nature of business etc.
  14. Reconcile receipt of Post Dated Cheques from the customers with the cheques deposited and cashed, cheques replaced or returned, cheques on hand and with the bank
  15. Provide necessary schedules or report to internal and external auditors
  16. Generate the management reports from the ERP systems relating to collections, accounts receivables and movement from time to time
  17. Implement best industry practices relating to management of accounts receivables
  18. Compute provision for Expected Credit Losses (ECL) against accounts receivables based on company set criteria's
  19. Monitor and assist in implementing and improving operational systems being used;
  20. Maintains appropriate filing of all documentation.
  21. Liaises with sales and leasing departments with regards to sales and receipt transactions.
  22. Performs any other related job duties as requested by direct supervisor


Qualifications

  • Bachelor's degree in Accounting and Finance.
  • At least three (5) years finance and accounting work experience;
  • Knowledge of ERP Systems (e.g. Oracle Fusion, SAP or similar).
  • General accounting and finance operations.
  • Reasonable commercial acumen and understanding of business
  • Good communication skills with command over written and spoken English.
  • Proficient in Microsoft Excel, Word, and PowerPoint. Should have working knowledge of an ERP system.

About Us

Dubai Investment Real Estate Company (DIR) is the real estate arm of Dubai Investments PJSC. Founded in 2006, the Company has established its reputation through a distinctive portfolio of real estate projects and today boasts of an impressive range of mixed-use developments, residential buildings, commercial projects including warehouses and land banks, across key strategic locations, providing an expansive portfolio to suit varied requirements.

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