Financial Analyst, Fixed Assets Management at KCB Bank Kenya

Job Description

KEY RESPONSIBILITIES

Fixed Assets Capitalization: Ensure accurate capitalization of fixed assets in accordance with company policies and accounting standards.
Review asset acquisitions and ensure proper documentation and approvals are in place.

Management of Capital Work in Progress (CWIP): Monitor and track CWIP accounts, ensuring accurate reporting of project costs.
Prepare periodic updates on the status of capital projects and communicate with project managers.

Facilitate the timely transfer of completed projects from CWIP to fixed assets and ensure that all relevant costs are appropriately recorded and supported by documentation.

Asset Transfers and Disposal: Oversee and record internal transfers of fixed assets, ensuring accurate documentation and compliance with internal policies.
Coordinate with other departments to manage the movement of assets through management of the Fixed Assets help desk.

Manage the disposal process for obsolete or excess assets across the bank, ensuring compliance with company policies and regulatory requirements.

Prepare and maintain documentation for asset disposals, including any financial impact assessments.

Depreciation Management: Calculate and record depreciation expense for fixed and intangible assets in accordance with applicable International Financial Reporting Accounting Standards.
Review and analyze depreciation schedules to ensure accuracy and compliance.

IFRS 16 Lease Accounting – Accurate computation of Right of Use Asset (ROU) and Lease Liability balances while aligning the depreciation and interest expense to the schedules and General Ledger
Reporting and Reconciliation: Prepare regular fixed asset reports for management, including asset registers and capital expenditure reports.
Reconcile fixed asset accounts to ensure accurate financial statements.

Compliance and Audit Support: Preparation of Fixed Asset documentation and reports for internal and external audits. Ensure compliance with relevant regulations and accounting standards
Process Improvement: Identify opportunities for improving fixed asset accounting processes and implement best practices.
Collaborate with IT and finance teams to enhance fixed asset management systems.

Fixed Asset Verification – Coordinate the physical identification of assets, verifying their condition, and ensuring they are accounted for correctly.
Assignment of Fixed Asset tags to new assets to aid in tracking and identification of physical assets.

Intercompany Reconciliation – Management of the KCB Bank Kenya Intercompany grid while ensuring prompt reconciliation and settlement of outstanding balances as guided by the Bank’s policy.
Any other financial reporting deliverables as and when called upon to.

MINIMUM POSITION QUALIFICATIONS

The successful candidate will meet the following minimum criteria:

Hold a Bachelor’s degree in a finance related field from a recognized institution.
Professional qualifications in accounting at minimum of CPA II section 4 or equivalent qualification.
Have at least four years’ relevant experience in Finance, including specific experience in the following areas:
Fixed and intangible asset management and reporting
Use of financial systems, including fixed assets management systems
Financial and data analysis
Financial and management reporting
IFRS 16 lease accounting
Asset lifecycle management
Should demonstrate sound knowledge of accounting principles and standards relating to fixed and intangible assets management.
Attentive to detail and strong analytical skills
Excellent communication and interpersonal skills