Sr. Associate - Fixed Assets & Lease Accounting

Role & responsibilities

This position requires a good understanding of accounting principles and meticulous attention to detail to ensure the integrity of financial records. The successful candidate will be responsible for the end-to-end accounting of fixed assets, lease accounting including asset creation, disposal, retirement, depreciation runs, owning & managing lease accounting schedule and associated journal entries, ensuring compliance and providing insightful commentary.

The person is responsible for ensuring the ledger integrity encompassing several duties, including but not limited to:

• Fixed Assets Lifecycle Management:

  Managing the end-to-end accounting of fixed assets, including asset creation, capitalization, disposal, and retirement processes in the SAP ERP system.

• Depreciation & Amortization:

  Executing regular depreciation runs and ensuring accurate calculation and posting of depreciation and amortization expenses in compliance with US GAAP.

• Month-End Close - Fixed Assets:

  Managing the month-end close cycle specific to fixed assets, ensuring all associated accounting adjustments are accurately recorded within stipulated timelines and in adherence to OSTTRA's month-end closing calendar.

• Lease accounting:

  Working knowledge of lease accounting and able to manage aspects of OSTTRA's lease accounting in compliance with IFRS 16 and ASC 842, including the maintenance of lease schedules and monthly journals.

• Compliance (US GAAP):

  Ensuring all fixed asset accounting practices and reporting are in strict compliance with US GAAP.

• Reporting & Commentary:

  Preparing month-on-month commentary and analysis on fixed asset movements, depreciation trends, lease accounting and significant variances to support management reporting. Exposure in creating and maintaining reports in SAP to support management reporting.

• Internal Controls

  : To ensure month end processes are governed as per local policies and procedures and are complied with the internal financial control process at OSTTRA.

• Reconciliation & Substantiation:

  Performing sub-ledger to general ledger reconciliation and substantiation of fixed asset accounts to ensure accuracy and resolve any discrepancies promptly.

• Audit Support

  : Leading the engagement with auditors for the end-to-end fixed assets process and ensuring timely closure of audit items.

• Process Improvement

  : Proactively identifying opportunities to enhance and streamline fixed asset accounting processes, leveraging automation and best practices to improve efficiency and accuracy.

• Initiatives / Projects:

  Leading initiatives/projects as required to support any business-driven/system changes related to fixed assets.

• Collaboration:

  Collaborating with respective cross-functional teams to obtain necessary inputs for fixed asset capitalization and disposals. Collaborate cross-functionally with Business Functions (such as Technology, Facilities, etc ) Group Financial Control, Legal Entity Control, FP&A, and Technical Accounting teams to strategically address and resolve ad-hoc financial and operational challenges.

Preferred candidate profile

• Relevant experience in an accounting or finance role, with a strong focus on Record to Report activities and comprehensive experience in fixed assets & lease accounting.
• Good understanding of accounting principles (US GAAP) and financial reporting with specialization in fixed assets accounting.
• Good working experience in process & system transition. As a process owner, can play a key role in implementations before go-live and can manage post go-live. Someone who embraces and champions change, thrive in dynamic environments, and drives innovation.
• Exceptional verbal and written communication skills, with the ability to present complex financial information clearly and concisely to key stakeholders.
• Strong ability to analyse financial data, identify trends, and explain variances related to fixed assets.
• Meticulous approach to reviewing financial data, reconciliations, and journal entries to ensure 100% accuracy.
• Ability to thrive in a fast-paced, dynamic environment and manage competing priorities effectively.
• Proactive and solution-oriented mindset, with the ability to identify issues and implement effective resolutions.