Asset Officer - Durban, at Durban University of Technology

Minimum Requirements:

• Degree in Accounting or any other relevant qualification (NQF Level 7)
• 2 years of Experience in asset administration preferably in a large organisation.
• Knowledge of relevant legislative requirements and rules applicable to asset and liability management
• Understanding of IFRS and other relevant accounting standards
• Understanding of asset management administration
• Advanced Proficiency in MS Office
• Proficient in ERP systems
• Ability to conduct reconciliations.

Summary of Duties:

• and transfers of assets in accordance with the relevant asset management policies and procedures. Check that all documentation and approvals are in place prior to updating the Asset Register.
• Enter the assets into the Fixed Assets Register in accordance with classification, description, location, and value.
• Create unique asset identification measures such as barcoding and new asset types for new assets not yet reflected on the Asset Register.
• Scrutinize requisitions, GRVs and invoices for acquisitions of new assets to identify the appropriate ledger account.
• Advise internal stakeholders on the completion of asset related documentation such as asset disposal forms
• Monitor that internal stakeholders adhere to asset and liability management policies and procedures. Address non-compliance with relevant stakeholders
• Circulate updated fixed Asset Register and asset verification certificate to relevant management after the completion of the asset verification process.
• Calculate the profit and loss on the sale or disposal of assets to relevant stakeholders.
• Facilitate tagging of assets.
• Complete monthly appreciation and depreciation reports.
• Plan and schedule the annual physical verification of DUT fixed assets and inform relevant internal stakeholders accordingly.
• Coordinate and conduct physical asset verifications on an annual basis using required verification template/documentation.
• Reconcile the physical assets to the fixed Assets Register and the general ledger.
• Check the accuracy of insurance claims received and follow up on any incomplete claims to ensure compliance to DUT claim policy and procedure.
• Submit completed insurance claim forms and supporting information to Manager Asset and Liability Management for authorization prior to submission to relevant insurers.
• Follow up on insurance claims and escalate any unresolved claims queries to the Manager Asset and Liability Management
• Consolidate insurance claim records and report outcomes to manager.
• Prepare reports for the purpose of reporting to various structures as required, in accordance with the reporting schedule.
• Consolidate and report on fixed asset additions for the month and year to date, showing classifications and values.
• Consolidate and report on fixed asset disposals for the month and year to date, showing values.
• Consolidate and report on additions, disposals, and transfers for auditing purposes.
• Prepare monthly reconciliations.
• Submit quarterly fixed asset registers to the Manager Fixed Asset Management
• Scrutinize the repairs and maintenance ledger account for possible fixed assets and process the necessary journals.
• Consolidate and present monthly statistics to manager.