UAEN Only – Vice President, Centralized Payments Full-time

The VP Centralized Payments will manage all payments relating to external vendors for various companies forming part of Mashreqbank Group including Mashreqbank, Osool, Injaz, MIT, Mashreq Securities, Mashreq Capital, Mashreq Al Islami Finance, and overseas branches viz. Qatar, Bahrain, Kuwait, Oman and provide expertise for set up of Oracle Payable & Fixed Assets implementation for any new entity / branch.

Administer entire accounting functions relating to Mashreq Subsidiary Injaz, including maintenance of books of accounts, its statutory audit and preparation of audited financial statements for Board of Directors’ approval.

Key Responsibilities

• Manage payments for the bank, centralized subsidiaries and overseas branches to external suppliers of goods and services forming part of Admin Expenses based on approval as per Authority Delegation of respective companies / branches. Maintain TAT for invoice processing and ensure a high level of satisfaction to internal customers.
• Manage accounting for payments done for staff of centralized entities forming part of Staff Costs in line with HR Policies e.g. Salaries & Allowances, other benefits, reimbursement of expenses.
• Manage timely and accurate recording of accounting transactions related to payments made to external suppliers and staff in Oracle Financials (Accounts Payable, Fixed Asset, General Ledger), HRMS, WPS, UAEFTS, I-flex and I-flex in line with Accounting Policies & Procedures Manual under approved Chart of Accounts duly segregated as per segment distributions in the books of respective companies listed above.
• Ensure all payment approvals received / processed by the unit for genuineness, proper authority, Policies, matching of LPO with invoices, duplication of payments, accuracy, correct recording in order to avoid inherent financial risks. Also ensure correctness / appropriateness of month end provisions and cost allocations to various cost centre / units within respective companies.
• Conceptualize systems capability enhancement/automation of manual processes, develop specifications and arrange UAT and authentication of correct results for implementation. Further, assist in implementing Oracle Accounts Payable for new entities including management and coordination for configuration requirements in Oracle Financials modules namely Fixed Assets, Purchases, Inventory and Accounts Payable.

Knowledge, Skills and Experience

• UAE National only, with strong understanding of the local regulatory, banking, and payments landscape in the UAE.
• Chartered Accountant (CA) qualification is mandatory, with minimum 15 years of progressive experience in accounting, finance, or centralized payment operations.
• Extensive experience in centralized payments, reconciliation, and settlement operations within banking or large financial institutions.
• Strong expertise in Accounting Policies, Procedures, IFRS, and internal control frameworks, particularly related to payments and financial reporting.
• Proven hands-on experience with core banking and finance systems, including Flexcube, Oracle GL, Oracle Payables, and Oracle Fixed Assets.
• In-depth knowledge and practical exposure to UAE payment systems, including UAEFTS and WPS, ensuring regulatory compliance and operational efficiency.
• Experience working with EDMS (Electronic Document Management Systems) for payment documentation, audit trails, and regulatory reporting.
• Demonstrated strong analytical and problem-solving skills, with the ability to interpret complex financial data, identify root causes, and implement process improvements.
• Proven leadership experience in managing, mentoring, and developing teams, with the ability to drive performance in a centralized payments environment.
• Excellent interpersonal, written, and verbal communication skills, with the ability to engage effectively with senior management, regulators, auditors, and internal stakeholders.

About Mashreq Bank

The leading financial institution in MENA. While more than half a century old, we proudly think like a challenger, startup, and innovator in banking and finance, powered by a diverse and dynamic team who put customers first. Together, we pioneer key innovations and developments in banking and financial services.

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