Chief Accountant - AR/AP

Job Title: Chief Accountant - AR/AP

Department: Finance
Industry: Contracting / Construction

Role Summary

We are seeking a highly competent Chief Accountant, AR/AP with strong contracting industry experience and hands-on exposure to both Accounts Receivable and Accounts Payable functions. The ideal candidate will demonstrate leadership capability and operational excellence in managing AR and AP operations, ensuring financial accuracy, compliance with contractual terms, and effective stakeholder coordination.

Mandatory (CV Requirement):

• Contracting/Construction industry experience is compulsory.
• Proven leadership capability in handling AR & AP functions.
• Demonstrated operational excellence in managing end-to-end AR and AP processes.

Key Responsibilities

1. Accounts Payable Processing & Controls

Manage end-to-end supplier and subcontractor invoice processing, ensuring invoices are verified against contracts, LPOs, MIR/WIR, approvals, and budget provisions before posting and payment.

2. Supplier Reconciliations & Payment Scheduling

Perform regular supplier statement reconciliations and prepare structured payment schedules in coordination with Treasury and FP&A, aligned with approved cash-flow forecasts and priority payment plans.

3. Contracting-Specific AP Compliance

Ensure strict adherence to contracting controls including retention deductions, back-to-back retention clauses, milestone-based payments, and approval thresholds as per contract terms and Delegation of Authority (DOA).

4. Petty Cash & Site Cash Management

Control and reconcile petty cash for projects and departments, ensuring proper documentation, ERP posting, budget compliance, and timely replenishment in line with company policies.

5. Accounts Receivable – Progress Billing & Certification

Prepare and monitor progress billing/payment applications based on certified work completed, ensuring invoices are raised strictly against approved certifications and contractual terms.

6. Collection Follow-up & DSO Management

Lead structured collection follow-ups with clients and coordinate with internal project teams to achieve targeted DSO. Conduct periodic AR ageing reviews and initiate escalations where required.

7. Unbilled Income Monitoring & Control

Track unbilled income arising from uncertified work, reconcile monthly with QS and Project Managers, monitor ageing buckets, and escalate balances exceeding defined thresholds.

8. Retention Receivables Tracking

Monitor retention receivables as per contract terms, track release milestones (TOC and Final Completion), and ensure timely follow-up and escalation of overdue retention balances.

9. Stakeholder Coordination & Issue Resolution

Maintain strong communication with internal stakeholders (Projects, QS, Procurement, Treasury, FP&A) and external parties (clients, consultants, suppliers) to resolve AR/AP issues efficiently and professionally.

10. Reporting, KPIs & Escalation Discipline

Prepare comprehensive AR/AP dashboards and management reports including DSO, DPO, ageing analysis, unbilled income, retention tracking, and cash-flow impact. Ensure timely escalation in line with the defined escalation matrix.

Qualifications & Requirements

• Fully or partly qualified CA, ACCA, or CIMA, or a Bachelor’s Degree in Accounting or Commerce.
• 3–6+ years of relevant experience in contracting/construction industry (mandatory) within the UAE.
• Proven experience managing end-to-end AR and AP operations.
• Demonstrated leadership capability in handling finance operations.
• Strong knowledge of project-based accounting and contracting financial controls.
• ERP experience is essential.
• Advanced proficiency in MS Excel.
• Strong analytical, organizational, and communication skills.

Key Competencies

• AR & AP Operational Excellence
• Contract-Based Financial Controls
• Working Capital & Cash Flow Management
• DSO & DPO Optimization
• Financial Reporting & Reconciliations
• Stakeholder & Client Coordination
• Escalation & Compliance Discipline
• Leadership & Process Improvement

Job Type: Full-time

Application Question(s):

• Please share your current salary
• Please share your expected salary
• Please share your notice period
• How many years of experience you have in AR & AP and kindly share your roles and responsibility related to this

Work Location: In person