Officer - Collection Processing & Reconciliation Private Accounts

The Oman Investment Authority (OIA) is inviting applications for the position of "Officer - Collection Processing & Reconciliation Private Accounts" at its headquarters in the Sultanate of Oman. This role presents a distinguished career opportunity to join one of the premier financial and investment institutions in the country, contributing to the management of a diverse and significant investment portfolio.

Job Description & Key Responsibilities

The successful candidate will be directly responsible for managing the accounts receivable cycle and reconciling private accounts within the framework of the Oman Investment Authority. Key duties include:

• Collection Management: Overseeing and executing collection activities for financial receivables from Private Accounts within the Authority's investment portfolio, ensuring timely receipt of due amounts.
• Financial Data Processing: Examining and analyzing transaction data, payments, and financial statements related to private accounts, ensuring their accuracy and completeness.
• Reconciliation Operations: Performing periodic and comprehensive reconciliation between the Authority's internal records and statements received from external parties (e.g., banks, investment firms, business partners). This aims to identify and promptly resolve any discrepancies or errors.
• Discrepancy & Issue Resolution: Investigating the causes of any variances identified during reconciliation processes, working collaboratively with internal departments (such as Treasury and Accounting) and external vendors or clients to resolve them.
• Reporting: Preparing regular reports on collection status, collection rates, any overdue or delinquent accounts, and the results of reconciliation activities for management review.
• Policy & Procedure Compliance: Ensuring all operations are conducted in accordance with the OIA's internal financial policies and in compliance with recognized accounting best practices and standards.
• Process Improvement: Proposing enhancements to current procedures and systems to improve the efficiency and effectiveness of collection and reconciliation processes, minimizing operational risk.

Qualifications & Core Requirements

To be a suitable candidate for this role, you should meet the following criteria:

• Educational Background: A Bachelor's degree in a relevant field such as Finance, Accounting, Business Administration, or Economics. Advanced professional certifications (e.g., ACCA, CPA, CMA) would be a distinct advantage.
• Work Experience: Proven practical experience of 3 to 5 years in a directly related field, such as Accounts Receivable, Financial Reconciliation, Accounting, or Treasury. Experience within financial institutions, investment firms, or large corporations is highly preferred.
• Technical Skills:
  • Advanced proficiency in Microsoft Excel (formulas, pivot tables, VLookup).
  • Hands-on experience with Enterprise Resource Planning (ERP) systems like SAP, Oracle, or similar, particularly their financial modules.
  • Strong understanding of accounting principles (knowledge of IFRS is preferred).
• Personal Skills:
  • Exceptional analytical skills and high attention to detail when working with numbers and data.
  • Effective written and verbal communication skills in both Arabic and English.
  • Ability to work under pressure, tackle challenges, and solve problems.
  • High degree of integrity, professionalism, and ability to handle confidential and sensitive information.
  • Teamwork and initiative.

Benefits & Advantages

The Oman Investment Authority offers a stimulating and professional work environment with a competitive benefits package, which likely includes:

• A competitive monthly salary commensurate with qualifications and experience.
• Opportunities for career development and training within a leading national institution.
• A stable and reputable work environment.
• Social benefits and leave allowances in accordance with Omani labor law and company policy.

How to Apply

Applications for this position are accepted exclusively through the Naukrigulf online platform, where the vacancy was advertised. Please visit the original job posting link on the website and submit your application through it. Ensure you prepare a professional, up-to-date CV in both Arabic and English, highlighting the relevant experience and skills mentioned above. Include a concise cover letter explaining your motivation for joining the Oman Investment Authority and why you are the ideal candidate for this role.

Given the strategic importance of this position, the selection process is expected to be thorough and may involve several rounds of interviews and assessments. We wish all applicants the best of luck.