Vice President, Centralized Payments

Overview

The Vice President for Centralized Payments at Mashreq will oversee all vendor payment processes across multiple entities within the Mashreqbank Group. These include organizations such as Mashreqbank, Osool, Injaz, MIT, Mashreq Securities, Mashreq Capital, Mashreq Al Islami Finance, as well as branches in Qatar, Bahrain, Kuwait, and Oman. The role also involves providing expertise in implementing Oracle Payable & Fixed Assets modules for new branches and subsidiaries.

Key Responsibilities

• Supervise all accounting activities pertaining to Injaz, ensuring proper bookkeeping, statutory audits, and preparation of audited financial statements for Board approval.
• Handle payments to external suppliers for the bank, centralized subsidiaries, and international branches, maintaining timely invoice processing and adhering to authority delegation rules.
• Oversee accounting management of staff-related payments such as salaries, allowances, benefits, and expense reimbursements following HR policies.
• Ensure timely and precise entry of all payment transactions into Oracle Financials (Accounts Payable, Fixed Assets, General Ledger), HRMS, WPS, UAEFTS, and I-flex systems, adhering to accounting policies and approved chart of accounts with correct segment divisions.
• Verify all payment approvals for authenticity, authority, policy compliance, invoice matching, and duplication prevention to mitigate financial risks; ensure accuracy of month-end provisions and cost allocations.
• Lead initiatives to enhance system capabilities through automation of manual processes, oversee specifications development, conduct UAT, and validate implementations.
• Support Oracle Accounts Payable implementation for new entities, coordinating configurations across Oracle Financial modules like Fixed Assets, Purchases, Inventory, and Accounts Payable.

Candidate Requirements

• UAE Nationals only, with in-depth knowledge of UAE's regulatory, banking, and payments environments.
• Mandatory Chartered Accountant qualification with minimum 15 years of progressive experience in accounting, finance, or centralized payment operations.
• Comprehensive expertise in centralized payments, reconciliation, and settlement in banking or sizeable financial institutions.
• Strong understanding of Accounting Policies, IFRS standards, procedures, and internal controls focusing on payment and financial reporting aspects.
• Practical experience using core banking and finance platforms such as Flexcube, Oracle General Ledger, Oracle Payables, and Oracle Fixed Assets.
• Extensive familiarity with UAE payment systems including UAEFTS and WPS to ensure regulatory adherence and process efficiency.
• Experience utilizing Electronic Document Management Systems for payment records, audit trails, and compliance reporting.
• Demonstrated analytical capabilities and problem-solving skills, able to interpret complex financial data and drive improvements.
• Proven leadership in managing and developing teams while enhancing performance in a centralized payments setting.
• Excellent communication skills, capable of engaging effectively with senior executives, auditors, regulators, and diverse internal teams.