Assistant Manager – Accounts Receivables

Seddiqi Holding is a Family-owned and managed company with a unique, diversified portfolio of businesses and brands across numerous sectors. The business includes Ahmed Seddiqi, Seddiqi Properties, Swiss Watch Services and Mizzen.

We are looking for an experienced Assistant Manager – Accounts Receivables who will be responsible for managing and monitoring all finance activities related to accounts receivables across Seddiqi Holding and its group companies, including overseeing domestic and overseas collections.

Key Responsibilities:

• Monitor work processes and report key metrics for the Accounts Receivable Section.
• Ensure accurate recording of monthly statements in the appropriate journals and ledgers
• Manage the reconciliation of bank accounts statements with the general ledger for Accounts Receivable related entries in an accurate and periodic manner
• Manage the maintenance of the accounting database and ensure proper implementation of the applicable system for accounts receivable and payments collection administration
• Manage credit control processes and oversee insurance risk coverage for customers, ensuring appropriate credit limits and insurance policies are in place.
• Review and enhance procedures to ensure all insurance claims are accurately recorded and recovered in a timely manner.
• Manage customer billing and cash receipts processing
• Ascertain that the invoices are accurate and are in line with the tax/regulatory guidelines or contracts with customers
• Ensure timely collection of payments for the generated invoices and manage proper resolution of outstanding payment issues
• Examine proper adherence of accounting guidance for cash deposits
• Ensure monitoring of customer account details for non-payments, delayed payments, and other irregularities
• Monitor and report deviations from credit standards
• Inspect the recording and application of cash, management of outstanding invoices, and monitor escalated collection matters and disputes to ensure resolution
• Manage the process of providing knowledge to the retail cashier about the collection of credit at stores
• Ensure the completeness and timey accounting of revenue by ensuring that the contracts are updated in the system.
• Manage the resolution of discrepancies and establishing corrective action processes
• Oversee the preparation and timely submission of outstanding debit note reports to management, ensuring consistent follow-up with principals and brand teams to expedite collections.
• Supervise the analysis of brand marketing expenditures to support marketing recovery efforts, coordinating with brand principals to review, validate, and finalize expenses and brand contributions for debit note issuance.
• Lead the development and maintenance of the brand recovery tracker to monitor and control brand-related receivables, ensuring accurate reporting to senior management.
• Define goals and key performance indicators for each member of the section and ensure effective implementation of the performance management process
• Develop talent within the team by providing guidance, ongoing feedback and coaching to achieve the defined goals

In order to be successful in this role, you should have:

• Bachelor's Degree or equivalent in Finance / Accounting/ Business Administration
• Professional qualification (e.g. CPA/ACCA/ACA/CIMA)
• 6-8 years of Accounts Receivable experience
• 3 years’ job-related experience within Luxury retail/Retail/FMCG Industry in UAE/Middle East
• 3- 4 years’ experience as a supervisor / manager.