Revenue Collection Unit Head

About AlBalad AlAmeen for Development and Urban Regeneration

Established by Royal Decree in 2009, AlBalad AlAmeen is a closed joint stock enterprise operating as the Municipality of Makkah's investment wing. The company is dedicated to strategic urban regeneration and development within Makkah, managing a substantial undeveloped land portfolio exceeding 60 million square meters. Employees contribute towards significant projects that foster modernization, sustainable urban growth, and heritage preservation in the Holy City.

Role Purpose

This position is responsible for effectively managing the company's revenue collection operations, ensuring accurate and timely recording of all income, monitoring accounts receivable, optimizing cash flow, and enforcing rigorous collection policies and financial controls.

Key Responsibilities

• Monitor collections from customers, investors, business partners, and contractors, ensuring adherence to company financial policies.
• Issue collection receipts with appropriate documentation and collaborate with Treasury for daily deposits and collection schedules.
• Accurately log collection transactions within the ERP system, categorizing revenues by type such as leases, services, auctions, and contracts.
• Generate journal entries pertinent to collection activities.
• Maintain detailed accounts receivable ledgers, follow up on overdue payments, issue reminders, and produce aging and monthly collection performance reports.
• Coordinate with Legal regarding delinquent accounts as necessary.
• Reconcile transaction records with bank statements, address discrepancies, and liaise with banks on disputed or returned payments.
• Ensure adherence to financial policies and controls overseeing collection procedures and payment platforms.
• Prepare and analyze daily and monthly collection reports, focusing on KPIs like collection rates, cycle times, and outstanding balances, with suggestions to enhance efficiency.
• Support audit processes by providing documentation, assisting in resolving discrepancies, and ensuring proper document retention according to company standards.
• Perform additional relevant tasks as assigned within the scope of the role.

Requirements

• Bachelor's degree in Accounting, Finance, or related discipline.
• At least 5 years’ experience in Treasury, Accounting, Accounts Receivable, or collections.
• Comprehensive understanding of accounting standards and revenue recognition principles.
• Demonstrated expertise in managing accounts receivable and collection operations.
• Proficiency with ERP systems and accounting software.
• Advanced skills in Microsoft Excel, including the use of VLOOKUP, Pivot Tables, and complex formulas.
• Strong financial analytical and reporting capabilities.
• Effective communication and relationship-building skills with clients and governmental bodies.
• Able to work efficiently under pressure, handle multiple tasks, and meet deadlines.