Job Purpose

• Assist the fixed asset manager in development of internal control environment and ensure compliance with fixed asset policies and procedures. Stays current on fixed asset accounting trends and standards.
• Assist to manage, lead, & develop team of Fixed Assets accountants to fulfil delegating tasks, cross-training skill sets and collaborating with Internal Finance Team and cross functional departments within company

Job Accountabilities

Functional Accountabilities

• Maintain a suitable control environment for Fixed asset function.
• Maintaining fixed asset register
• Physical inspection and tagging of fixed asset throughout KSA.
• Daily and monthly closure activities
• Management Reporting

Maintain a suitable control environment for Fixed asset function:

• Assist Fixed asset manager to review of fixed asset process related Policies and procedures, to identify process improvement opportunities (SOP), to develop and implement SOP catering Gaps and to perform regular assessment to ensure that controls are operating as intended

Maintain Fixed Asset Register:

• Improve the accuracy of fixed asset register
• Improve the internal control on Fixed assets addition, disposals, transfers, impairment recording and deprecation.
• Oversees and review the addition and deletion of fixed assets.
• Ensure that all additions to fixed assets in the ground are timely reflected in fixed asset register and depreciation is started on these assets on a timely basis.
• Maintain the proper allocation of asset on the location and custodian.
• Manage the cleanup of fixed asset register on monthly basis.
• Monthly review the calculation of depreciation of asset including useful lives including changes in related estimates, residual values, Depreciation method etc.
• Process fixed asset retirement requests in line with policies and procedures on ongoing basis.
• Assist GL team in the annual impairment assessment exercise.
• Manage time and accurately tagging of fixed asset additions on a monthly basis

Physical Inspection on Fixed Asset:

• Manage physical Inspection and tagging of fixed assets by create process and team to handle the physical inspection of each store, warehouses, and compounds across country.
• Verify and maintain all records related to Physical counts include Sheet to floor and floor to sheet variances.
• Reports sheet to floor and Floor to sheet difference to management at least annually and proposed necessary actions to align fixed asset register with position on the ground.
• Coordinate with other departments to update the Asset details, Model, Make, Serial number etc in the fixed asset register.

Fixed Asset Daily and Monthly Closure activities:

• Manage daily fixed assets processes to ensure accounting procedures performed by team occurs accurately and within a timely manner
• Review monthly and quarterly Fixed Assets reporting and perform variance analyses for Fixed Assets accounts.
• Recommended to management any updates to accounting policies related to fixed assets.
• Reply the queries from the different business units.
• Assists the FA Manager with monthly journal entry review and various fixed assets account analyses, as needed.
• Reconcile the balance in the fixed asset subsidiary ledger to the summary-level account in the general ledger.
• Prepare monthly schedule as well and schedule required for Quarterly review and annual audit
• Making asset disposal transaction in system.

Qualifications

Minimum Bachelor degree in accounting (Preferred ACCA, CA, CMA, ICAEW/ SOCPA qualified)

Experience

• 5 years of experience in financial activities
• 4 years of experience in in the role of Assistant manager – fixed assets
• Experience of working in Oracle Fusion – Fixed asset module

Key Competencies

• Financial and analytical skills
• English & preferably Arabic proficiency
• Microsoft Office & Oracle and Asset Tracking
• Visio, Project, and Power point, etc.,