Senior Financial Accountant (Owners Association/Community Management)

JobsCloseBy Editorial Insights

Palazzo Versace Dubai is seeking a Senior Financial Accountant for an Owners Association and Community Management role, full-time on site in Dubai. The successful candidate will manage OA budgets and service charges in line with STRATA Law and RERA rules, facilitate payments to service providers, generate Mollak invoices, oversee collections and reconciliations with the regulated bank account, handle other OA incomes, prepare financial reports for auditors and RERA, monitor VAT and file returns, deliver regular MIS to management, and maintain day to day bookkeeping for STRATA or body corporate operations. Requirements include a bachelor’s degree in accounting or related field, at least three years’ OA or property management accounting experience, strong knowledge of RERA regulations and Mollak, proven budgeting, invoicing, collections and bank reconciliations, VAT proficiency, solid accounting software and Excel skills, and excellent English communication with the ability to work independently. To apply, tailor your resume to highlight OA or community management experience, quantify budgeting and collection achievements, showcase Mollak usage and RERA compliance, demonstrate audit readiness and VAT handling, and include concrete examples of improving cash flow or accuracy, while noting your availability for on site work in Dubai.

Key Responsibilities:

• Prepare Owners Association budgets & calculation of Service Charges in accordance with the STRATA Law and other Rules and Regulations as prescribed by the Real Estate Regulatory Agency, Dubai (RERA).

• Facilitate release of payments to various service providers and suppliers in line with the approved budget and as per requirements prescribed by RERA and Escrow Trustee bank.

• Well versed with RERA’s Mollak system to facilitate generation and issuance of Service Charges invoices to Residence Owners on time.

• Manage service charges collection process, maintain records of Service Charges received from the Residence Owners, track outstanding service charges and reconciliation of the amount received in the Regulated bank account and RERA’s Mollak system.

• Facilitate Invoicing, Collection and Depositing of other OA incomes such as Hot Water, Potable Water, Gas charges, Penalties etc. received and maintain proper records of the same.

• Prepare financial reports as required by the Auditors & RERA.

• Keep track of VAT collected & paid and ensure timely filing of VAT returns and / or payments to the respective authority.

• Provide periodical MIS reports to the management.

• Perform other standard book keeping & accounting tasks associated with the day-today operations and management of STRATA / Body corporate and maintain accounting records of all associated financial transactions.

Requirements

Candidate Requirements:

• Bachelor's Degree in Accounting, Finance, or a related discipline.

• Minimum 3 years of hands-on Owners Association (OA), Community Management, STRATA, or Property Management accounting experience.

• Strong working knowledge of RERA regulations, STRATA Law, and Owners Association financial requirements.

• Hands-on experience using the Mollak system for service charge budgeting, invoicing, collections, and reporting.

• Proven experience in service charge accounting, budgeting, collections, and bank reconciliations.

• Sound knowledge of UAE VAT regulations and financial reporting requirements.

• Proficiency in accounting software and advanced Microsoft Excel.

• Strong analytical, organizational, and problem-solving skills.

• Excellent communication skills in English, both written and verbal.

• Ability to work independently and manage the complete accounting function of a residential community or Owners Association.