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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.

Majid Al Futtaim