Controller, Finance (Fixed Asset & Inventory) - #58230

ADNOC Group


Date: 1 week ago
City: Abu Dhabi
Contract type: Full time
About the Company:

ADNOC Distribution is on a journey to change the retail landscape, delivering tangible actions to facilitate progress in providing sustainable mobility solutions for our customers. We are taking bold and transformative steps to grow our domestic and international footprint for our customers. We are customer-centric, offering digitally enabled journeys and providing innovative products and services to drive accelerated and sustainable development for the future of mobility. ADNOC Distribution markets, sells, and distributes transportation fuel to both retail and commercial customers. We also run non-fuel services at our service stations.

About The Job

To monitor, co-ordinate and follow-up closely until final completion of all fixed asset and inventory related activities from Issuing, receiving, tagging, replacing, transferring, upgrading, and storage of all the materials and spare parts and maintaining documents related to all such activities in a timely and efficient manner.

Key Accountabilities

Inventory Control

  • Run and analyse the respective reports using Oracle/SAP in order to carry out the inventory control functions.
  • Prepare the replenishment requisitions and verify buying description for assigned groups to ensure receiving required material in a timely manner.
  • Review the reservation list, plant shutdown and equipment overhaul to ensure that necessary materials are replenished in time and the inventory is maintained at a cost-effective level to meet the plant demand.
  • Analyse inventory requisitions by manufacturer and by commodity in order to establish different types of purchase agreements in order to minimize stock holding and improve delivery.
  • Follow-up inventory outstanding purchase requisitions with procurement department, and follow-up the repairable and insurance items with the end users for repair and replenishment actions.
  • Analyse demand for all materials and establish inventory strategies (reorder point, safety stock, etc.).
  • Coordinate all activities relating to transfer, disposal of inventory equipment and assets and ensure to perform to perform and close the write offs as required.
  • Maintain fixed asset financial management system and ensure compliance with company guidelines.
  • Co-ordinate and oversee the activities of assigned personnel in the Fixed Assets section, ensuring that work is evenly distributed and that all activities are carried out in accordance with established Company policies and procedures. Perform supervisory duties and exercise financial authority at the level established by Management for the position.
  • Maintain a detailed computerised record of the capital budget for the whole Company, and exercise control on capital sanctions and expenditure, by determining what a capital item is and which is not and advising users accordingly. Allocate and certifies capital payments and verify job authorisation forms that are within the approved budget for Company projects, to ensure that there is no overspend.
  • Check the computerised records of all Company assets located at various areas by scrutinising and comparing computer records to make sure there is a match, to ensure that a control is kept on Company property and equipment. Provide a report of asset records once a month and once a quarter, to enable a physical inventory to be done. Follow up any discrepancies with the departments concerned to ensure the situation is rectified and justification is given.
  • Control the issuance to customers of capital equipment from Stores, such as fuel and equipment, by checking all related details and authorising prior to issuance. Check the movement of all assets and prepares monthly statements showing asset details such as the number, cost, location, and value, and sends a copy to concerned departments for checking and verification.
  • Maintains the Asset Register by supervising the preparation of journal vouchers for deletions, insertions, amendments, and transfers where appropriate. Keeps track of the depreciation of assets, and reconcile the Assets Register with the Company’s Financial Ledger, on a monthly basis.
  • Co-ordinate and oversee the provision of various reports, statements, and information to Management regarding fixed assets, checking accuracy of information prior to submission. Study each asset to ensure that the depreciation level is correct, and amend, if necessary, to ensure that records and the ledger are correct.
  • Maintain the ledger by ensuring that the correct transactions are inserted for completed jobs, such as the details of the asset and date of completion, and that the appropriate depreciation is applied. Oversee the updating of the computerised system and the manual records, stating the financial details such as the cost of the asset, the percentage of job completion, and the relevant depreciation.
  • Perform other similar or related duties as and when assigned by direct Manager, such as supervising the monthly reconciliation of the Company’s different asset accounts, attending to queries, and co-ordinating with the IT Division in order to make improvements to the existing Assets System, to ensure that the system is as efficient and accurate as possible.

Stock Control

  • Review and analyse nil stock materials and unfulfilled demands and ensure necessary corrective replenishment and set up adjustment actions are taken when applicable.
  • Review new stock requests with respect to the recommended quantities, create set up levels, necessary codes, purchasing method and other inventory data in coordination with the plant and sites users.
  • Carry out stock reviews to define items classification to ensure that the optimum inventory levels are maintained through identification of dead and obsolete items.
  • Coordinate and support to perform the periodic cyclic stock check and adjustment in SAP.
  • Ensure cataloguing and creation of new stock/non-stock material numbers in SAP material master to guarantee optimum control and governance.
  • Prepare quarterly and yearly financial statements as per accounting for general ledger and accounts and other related reports as per instruction of department manager.

Audit

  • Manage audit and review queries ensuring that all audit related requirements/ schedules are provided to the auditors on timely basis and all audit queries are resolved including external audit internal audit, shareholders audit, government audit

Minimum Requirements

  • Bachelor Degree in Finance/ Accounts or relevant discipline.
  • At least 10 years of experience in inventory control or stock replenishment preferably in the oil and gas industry including at least 5 years of increasing managerial responsibilities.
  • Detailed understanding of entire inventory processes.
  • CPA, ACCA or Equivalent professional qualification.

22350

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