Job closed
Ref: LP452-285
Job description / Role
Handling the unit buyer reconciliation in the escrow account and ensuring records are maintained in the escrow management system. Reconciliation of escrow document and support in payment processing.
Responsibilities
• Payment processing which includes liaison with Abu Dhabi Commercial Engineering (ADCE)
• Ability to negotiate escrow documentation and work with internal & external legal representatives
• Resolve all regulatory requirements within a timely & accurate manner through effective & efficient use of bank resources
• Produce and provide monthly reconciled and accurate reporting to regulatory agency (RERA) for the escrow monthly report
• Ensure owners association documentation is maintained and updated at all times.
• Ensure compliance with the Owners association product and track all changes to the account structure.
• Ensure proper MIS is maintained for the Owners Association and inflows / payments are tracked and reconciled at all times.
• Ensure payments made for Owners Association are within the approved guidelines.
Quantifiable:
• Support escrow payment processing
• Sub account reconciliation
• Unit buyer escrow maintenance
• Document maintenance and reconciliation
• Support in internal and external MIS
• Prompt handling of queries from developers / clients
NON – Quantifiable
• Customer support and NPS
• Quality of escrow account processing and documentation maintenance.
Key Result Areas
• Day to Day escrow operations
• Timely internal and external reporting on a timely basis
• Maintenance of internal & external MIS
• Query handling from both regulatory and client
• Monitoring daily inflows into the escrow accounts, generation of exception reports.
• Tracking and maintenance of unit buyer inflows based on client inflows.
• Ensure reconciliation on documentation and deviations are tracked and maintained.
• Ensure compliance with ADCB policies at all times.
• Co-ordination with legal and other internal departments within ADCB for smooth running of day to day operations.
• Understand risk related to the product.
• Pro-actively analyze client requirements.
Requirements
Experience and Qualifications:
Minimum Education Level:
Bachelors degree / preferably MIS related
Experience:
2 – 3 years in banking
IT knowledge preferred
About the Company
ADCB is a full-service commercial bank offering a wide range of products and services such as retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate and currency derivatives, Islamic products, project finance, and property management services.