Property AccountantService Charge Accountant

Key Accountabilities & Activities

The Service Charge Accountant will manage service charges for residential, commercial, retail, and industrial spaces, as well as wider community management charges across the master community. The role ensures all communal activities are appropriately levied with service charges and master community charges.

• Service Charge Model: Manage all end-to-end matters for the service charge model for the master community. Maintain and adapt the model where necessary incorporating data analytics, regulatory knowledge, expense monitoring and cost optimization. Ability to forecast future costs and the financial needs of the community allowing for proactive planning and the avoidance of financial shortfalls which may impede the operationalization of the community.
• Master Community Charge Model: Develop and oversee the master community charge model to ensure equitable distribution of charges across all communal activities. Adapt the master community charge model to reflect changes in communal activities, regulatory requirements, and community needs
• Performance Reporting: Proficiency in preparing and analyzing reports relating to service charges and the financial performance of the master community.
• Financial Management: Preparing annual service charge budgets, monitoring and analyzing variances, ability to articulate challenges and recommending corrective action. Ensuring all service charges are fairly and accurately allocated to tenants based on their usage or share of common area facilities.
• Compliance and Legal Adherence: Ensuring all aspects of service charge management comply with the relevant legal requirements and industry standards. Must demonstrate knowledge of relevant legislation.
• Operational Efficiency: Ensuring all funds are available and appropriate allocation to maintain and improve common areas and facilities. Implements cost control measures to avoid overspending and to identify cost optimization opportunities.
• Software Proficiency: Proficiency in using accounting software and systems relevant to property management and service charge accounting. Advanced skills in Microsoft excel for data analysis and reporting.
• Stakeholder Communication: Collaborate with the asset management, city management and development management teams to further develop and refine the service model and costs. Engage with the sectors and authorities to understand and changes or advancements to legislation which may affect the service charges and the service charge model developed for the community.
• Governance & Controls: Ensuring that all service charge related activities are aligned with the overall business goals of the client, by providing control mechanisms, policies, and procedures that allow management decisions to be effectively and systematically executed.
• Governance & Controls: Ensuring that all service charge-related activities are aligned with the overall business goals of client, by providing control mechanisms, policies, and procedures that allow management decisions to be effectively and systematically executed.
  
  

Requirements

• 10 years experience in managing master community service charges
• Bachelor's degree in finance, accounting or related field
• Membership of relevant society, institute, or association (e.g. ACA, ACCA,) .
• Proficiency in financial modeling, data analysis, and reporting using spreadsheets and financial software
• Strong understanding of service charge modelling, financial controls and analysis.
• Excellent analytical and problem-solving skills to interpret complex financial data.
• Detail-oriented with a proactive approach to identifying cost optimization initiatives & efficiencies in services provision.
• Strong communication and collaboration skills to work effectively with cross-functional teams and stakeholders
• Ability to meet tight deadlines