Inventory & Assets Control Officer at VDT Communications Ltd

Job Description:

• Business Strategy, Financial Policies and Processes
• Liaise with user dept./POPs in respect of equipment requirement needs in compliance with company laid down procedures
• Ensures that purchase orders are raised for goods to be purchased 
• Monitor and follow up on the process of compiling data towards procurement of assets/inventory items
• Effective follow up on suppliers to ensure that the delivery is done within the relevant range period
• Ensures that goods are received from suppliers in good condition and record same into the inventory register
• Receive and confirm Waybills/delivery notes & supplier invoice
• Storing items into store
• Generation Goods received notes
• Generation of store issuance notes and perform daily stock update/balancing functions.
• Monitor items in store
• Prepare equipment’s for dispatch to POPs upon receipt of appropriate authorized documentation
• Effective inventory requirement planning and management
• Understand the basic principles behind the quantitative/theoretical approaches to deciding how much inventory to keep.
• Identify the main approaches to managing inventory on an on-going basis
• Establishment of accurate base stock, stock reorders level, minimum and maximum stock levels for major inventory items.
• Regular monitoring and review of slow moving/ idle stock items and prepares necessary reports for management action.
• Development of appropriate inventory management and valuation policies and procedures/internal control procedures, with reference to appropriate/current International financial reporting standards.
• Design, co-ordinate, facilitate, the monthly/periodic physical stock verifications exercise, and perform appropriate reconciliation actions.

Budget Management and Financial Reporting

• Adopting a system that would provide a central asset register, asset value, condition assessment standards, continuous review, long-term financial, integration to corporate strategies and systems across all asset types as a total asset management system.
• Regular monitoring and review of slow moving/ idle assets items and prepares necessary reports for management action.
• Development of appropriate assets/capitalization policies and procedures/internal control procedures, with reference to appropriate/current International financial reporting standards.
• Ensure periodic fixed assets verification exercise is implemented.
• In conjunction with the Admin department, Arrangement for insurance of operational and administrative assets/follow up on insurance claims over all damaged assets/write off damaged assets both operational and administrative from the books as soon as practicable.
• Prepare monthly closing reports of inventory, assets, depreciation, and the KPI, for Management report.
• Provide support for accounting workflow in the review of accounts, & internal controls.
• Provide documentation and answer inventory/assets-related questions during year end statutory audit exercise.

Regulatory Compliance

• Awareness of current development in the legal, regulatory, and statutory provisions, ensure they are correctly and consistently recommended and applied in the financial statements.
• Ensure that all valuation, judgment, and reports are reported within the relevant legal, statutory and regulatory framework of Companies and Allied Matters Act 1990, taxation laws, as well as the national and international financial reporting standards.

People Management

• Team work
• Providing explanation on financial regulatory framework  when necessary
• Provide support on General accounting treatment of transactions when necessary

Requirements:

Educational Qualifications  & Functional / Technical Skills

• HND/BSc in Accounting
• A professional qualification of ACA or ACCA professional certification  will be an added advantage
• Relevant Experience (Type of experience and minimum number of years
• Knowledge of inventory accounting and asset management standard processes
• Management of Business assets efficiently with little or no supervision.
• Ability to work independently and as a member of a team.
• A sensitive observer, good listener, pacific, bighearted, purpose driven, and humane.
• Minimum of 5 years in inventory/assets management and accounting functions.
• Proficiency in the use of accounting software
• Attitude and Behavioural Traits
• Integrity, objectivity, professional competence, confidentiality and due care.
• Must have strong team spirit
• Ability to plan
• Must have good memory of events
• Must be proactive and an out of box thinker.