UAEN Only - Vice President, Centralized Payments

About the Role
The VP Centralized Payments will oversee all payment processes relating to external vendors across various entities within the company, including the company, Osool, Injaz, MIT, company Securities, company Capital, and company Al Islami Finance, as well as its overseas branches in Qatar, Bahrain, Kuwait, and Oman. This role also includes providing expertise for the setup of Oracle Payable & Fixed Assets implementation for any new entity or branch.

Responsibilities

• Administer all accounting functions related to company Subsidiary Injaz, including the maintenance of books of accounts, statutory audit oversight, and the preparation of audited financial statements for Board of Directors’ approval.
• Manage payments for the bank, centralized subsidiaries, and overseas branches to external suppliers of goods and services, categorized under Admin Expenses, ensuring adherence to approval protocols as per the Authority Delegation of respective companies/branches. Maintain turnaround time for invoice processing and ensure high satisfaction levels among internal customers.
• Oversee accounting for payments made to staff of centralized entities related to Staff Costs, in compliance with HR Policies, including Salaries & Allowances and reimbursement of expenses.
• Ensure timely and accurate recording of accounting transactions associated with payments to external suppliers and staff in Oracle Financials (Accounts Payable, Fixed Asset, General Ledger), HRMS, WPS, UAEFTS, and I-flex, complying with the Accounting Policies & Procedures Manual and aligning with the approved Chart of Accounts for respective companies.
• Verify all payment approvals processed by the unit for authenticity, proper authority, policy compliance, matching of LPO with invoices, prevention of duplicate payments, and accuracy of records to mitigate financial risks. Ensure correctness of month-end provisions and accurate cost allocations to various cost centers/units within the respective companies.
• Conceptualize enhancements and automation of existing systems, develop specifications, and arrange User Acceptance Testing (UAT) to ensure correct implementation results. Assist in the implementation of Oracle Accounts Payable for new entities, managing coordination for necessary configurations in Oracle Financials modules, including Fixed Assets, Purchases, Inventory, and Accounts Payable.

Requirements

• UAE National with a strong understanding of the local regulatory, banking, and payments landscape in the UAE.
• Chartered Accountant (CA) qualification is mandatory, with a minimum of 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 as they relate 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 Electronic Document Management Systems (EDMS) for payment documentation, audit trails, and regulatory reporting.
• Proven strong analytical and problem-solving skills, with the ability to interpret complex financial data, identify root causes, and implement process improvements.
• Demonstrated leadership experience in managing, mentoring, and developing teams, with the capability to drive performance in a centralized payments environment.
• Excellent interpersonal, written, and verbal communication skills, with the ability to effectively engage with senior management, regulators, auditors, and internal stakeholders.