Head of Fixed Assets and Inventory

Responsibilities Strategy Formulation - Contribute towards the formulation of strategy, annual business plans, policies and procedures of department, to support divisional and organizational business strategy. - Assist the Director of Finance in meeting set targets and objectives as well as the financial performance of the Fixed Assets and Inventory section. - Ensure that the fixed assets book of account is kept up-to-date and that accounting transactions are properly checked and reviewed to ensure accuracy of records. - Manage the financial activities of the capital assets and inventory section, monitors capital expenditures and applies appropriate accounting treatment in the reporting system based on applicable accounting standards and financial policies and procedures. Asset Acquisition - Ensure the preparation of the monthly capital asset continuity schedule to reflect changes in each class of asset as part of the monthly reporting process for management review. Asset Tagging, Verification, Transfer, Revaluation, and Retirement - Monitor the tagging and verification of Fixed Assets. Assign a physical asset verification team and plan to conduct the physical asset verification. - Review and reconcile the verification of assets with the accounted assets. Compare the reports and coordinate with Senior Accountant to resolve any errors in judgment. - Approved list of assets to be updated in the system. - Review the assets approved by the Disposal committee for retirement from the Fixed Asset Register. - Oversee the maintenance of records of all fixed assets acquisitions, adjustments, changes, transfers and retired assets. - Supervise the recording of asset disposals, transfers, retirements into the system as appropriate based on accounting standards and financial policies and procedures. - Participate in the physical inventory count in cooperation with the Support Services Team to ensure that the financial records agree with the physical count of assets. - Ensure all fixed assets in the books are accounted accurately with all relevant details and ensure all of them are physically present in their locations. Innovatively, adopt methods for effectiveness of the accuracy of data. Fixed Assets Period End - Review Depreciation report and coordinate with Accountant – Fixed Assets/ Senior Accountant – Fixed Assets for required changes, if any. Approve Depreciation Report. - Review fixed assets month-end reports and approve the soft close for the period. - Onsure that the fixed assets period-end close including accounts analysis are done on time. Inventory Reconciliation - Periodically reconcile the Financial accounting entries for all Inventory organizations for all items between the financial accounts and with the supply chain management system. Physical count of inventory - Participate in the annual physical count activities and ensure that financially all the discrepancies are justified, approved and accounted properly. - Arrange for random physical count activities during the year to ensure stocks are maintained accurately. Insurance - Arrange all activities related to Insurance of Fixed Assets and Inventory including preparation of policy documents, scope of work, tender processing. Staff Management - Ensure staffing is adequate to perform all section activities, organize the staff, their duty, their leave, and performance monitoring. Audit coordination - Facilitate the audit requirements from Internal and External Auditors and coordinate with the team to have all details. - The incumbent will undertake any such related duties or responsibilities as directed. - Confidentiality Ensure high standards of confidentiality to safeguard any sensitive information. Required Qualification & Experience - Candidate should possess CA/CPA/CFA/MBA (Finance). - Fifteen or more years of overall Experience in Accounting which includes: ➢ Five or more years of Supervisory experience in Fixed Asset and Inventory. ➢ Five or more years of accounting experience in the Hospital/Healthcare sector. ➢ Five or more years of accounting experience in GCC. - Proven experience in high-volume of Fixed Assets & Inventory in ERP environments under IFRS standards.