Asset Costing Section Head

Key Accountability Areas Asset Management

• Develop and implement process improvements and internal controls.
• Maintain highest standards of professional conduct, ethics and integrity in the provision of services in the section.
• Assist the Manager in overseeing the implementation of procedures and controls in the section and in meeting set targets and objectives as well as the financial performance of the section.
• Build and maintain strong and effective relationships with all other related units to achieve the section's goals/objectives.
• Keep the Manager informed of significant fixed asset-related issues that may jeopardize the achievement of the organization's goals.
• Stay abreast of the latest applicable finance and accounting leading practices.
• Execute capitalization policy and provide functional support to relevant stakeholders.
• Ensure high standards of confidentiality to safeguard commercially sensitive information.
• Recommend names of employees to the Manager for the physical asset verification team and plan to conduct the physical asset verification.
• Preparing budgets and forecast for all financial obligations of the section's work related to costing of assets tasks, depreciation, ROU and leasing.

Reporting and documentation

• Review fixed assets month-end reports and the soft close for the period.
• Initiate the Revaluation Preview Report and valuation results and seek the necessary approvals as per the Delegation of Authority (DOA).
• Provide timely and accurate information to the external and internal auditors as and when required.
• Develop periodic reports highlighting results of performed reviews / audits on SANS' owned assets
• Supervise the preparation and generation of reports relevant to fixed assets.
• Provide an item list (without quantity) from the system to the physical count team to reconcile physically with the items.

Operational Responsibilities

• Supervise accounting operations related to fixed asset additions, transfers, retirements, and depreciation.
• Assist the Manager as and when required on Fixed Assets-related requirements.
• Liaise with the Enterprise Asset Management team to resolve process matters and ease / automate the flow of financial transactions.
• Review Depreciation report and coordinate with Fixed Assets analyst for required changes, if any.
• Review FA transfer requests and ensure the financial impact of the transaction is correctly captured on the system.
• Review the list of assets to be reconciled from the Physical Inventory Comparison report and coordinate with the Fixed Assets Officer to resolve any errors in judgment.
• Review list of assets to be updated in the system.
• Review Fixed Asset Discrepancy List and write-off recommendation prepared by the Fixed Assets analyst.
• Oversee lease accounting activities including ROU asset recognition under IFRS 16.
• Review journal entries, reconciliations, and reports before submission.
• Maintain Fixed Assets Master Data to ensure proper control of assets.
• Liaise with the Finance function to ensure alignment of fixed assets register's information.
• Comply with the organization's set policies, procedures, management and regulatory requirements, and International Financial Reporting Standards (IFRS).
• Ensure that all financial accounting transactions comply with organization's policies, procedures, regulatory requirements, and international financial and accounting reporting standards.
• Oversee the fixed assets period-end close including accounts analysis.
• Ensure the accuracy of Fixed Assets transactions and ongoing integrity of General Ledger (GL) interfaces.
• Ensure that the fixed assets book of accounts is kept up-to-date and that accounting transactions are properly checked and reviewed to ensure accuracy of records.
• Oversee the maintenance of the Fixed Assets Master Data. Identify the changes for a single asset or multiple assets and perform the required changes in the Asset Workbench (for single asset) or Mass Reclassification window (for multiple assets) in Fixed Assets (FA) module.
• Review and recommend for approval the Fixed Assets Account setup / amendments.
• Review assets details entered in Asset workbench.
• Review and endorse the mass additions report and coordinate with the Fixed Assets analyst - for required changes, if any. Review Fixed Assets additional information (e.g., Category, DPIS) to qualify assets created in the Asset Workbench.

People Management

• Actively participate in on-the-job training, mentoring and coaching of subordinates
• Provide clear direction, prioritize tasks, assign and delegate responsibility and monitor the workflow
• Promote a high-performance working environment embracing SANS's values

Policies, Processes and Procedures

• Conduct day-to-day activities while ensuring compliance to policies and procedures
• Contribute to the identification of opportunities for continuous improvement of systems, processes taking into account leading practices, changes in business environment, cost reduction and productivity improvement

Knowledge and Experience

• Minimum of 6 years of experience in related Asset Management or related field.

Education

• A Bachelor's degree in accounting, finance or equivalent is required.
• Strong knowledge of IFRS and asset capitalization rules.
• Excellent leadership, analytical, and communication skills.
• Proficiency in ERP systems and Microsoft Office Suite.