Fixed Assets & Inventory Control Manager-Finance Department
Job Purpose
The Fixed Assets Manager is responsible for overseeing the tracking, management, and accounting of the University’s fixed assets and inventory. This role ensures accurate recording, depreciation, and compliance of asset-related transactions, as well as effective management and control of inventory. The manager will collaborate with finance, procurement, operations, and other departments to maintain up-to-date asset and inventory records, improve processes, and ensure accurate financial reporting.
Job Responsibilities
- Fixed Asset Management:
- Maintaining and updating the fixed asset register, including asset acquisition, depreciation, right of use and disposal.
- Ensuring proper accounting of asset transactions, including calculating depreciation and adjustments.
- Reconciling fixed asset accounts.
- Developing and enforcing policies for safeguarding assets and ensuring compliance with regulations.
- Providing regular asset reporting and collaborating on budgeting and forecasting.
- Leading the implementation of asset management systems and recommending process improvements.
- Training staff on fixed asset policies and procedures.
- Inventory Control:
- Overseeing inventory management, including tracking stock levels, ordering, and ensuring accurate records of inventory movements.
- Developing and enforcing inventory control policies to prevent loss, theft, or discrepancies.
- Conducting regular inventory counts and working with the operations team to reconcile physical inventory with the system.
- Monitoring and reporting on inventory performance, including turnover rates, aging, and stock-outs.
- Compliance & Internal Controls:
- Ensuring compliance with tax regulations, financial reporting standards, and University policies for both assets and inventory.
- Developing and enforcing policies and procedures for safeguarding assets and inventory.
- Assisting with audits related to fixed assets and inventory.
- Reporting & Forecasting:
- Providing regular reports on fixed asset status, depreciation schedules, and inventory levels to senior management.
- Assisting in budgeting and forecasting related to capital expenditures and inventory requirements.
- System Integration & Process Improvement:
- Leading the implementation and maintenance of fixed asset and inventory management systems.
- Recommending and implementing improvements to streamline asset and inventory management processes.
- Training & Development:
- Providing training staff on fixed asset management and inventory control procedures.
- Staying updated on industry trends, accounting standards, and best practices for asset and inventory management.
- Performing any other duties assigned by the line manager.
Job Requirements
Educational Qualifications:
Desired:
Bachelor’s degree or master’s in accounting, Finance, or any other related field.
Preferable:
CPA, CMA, or other relevant certifications.
Experience
7+ years of experience in asset management and inventory control, with at least 2 years in a managerial role.
Technical Skills
Strong knowledge of asset accounting principles, inventory management, assets finance leasing and tax regulations.