Senior Fixed Assets Specialist

About the Role

Saudi Gold Refinery Co. (SGR) is seeking a Senior Fixed Assets Specialist to join their team in Riyadh, Saudi Arabia. This full-time position is critical for ensuring the accurate capitalization, depreciation, and physical verification of high-value industrial equipment and infrastructure. The specialist will maintain compliance with IFRS and internal controls, while also supporting financial reporting and audit requirements.

Role Context and Impact

The Senior Fixed Assets Specialist reports directly to the Finance Manager. This role is central to safeguarding company assets through rigorous record-keeping and reconciliation processes. The position directly impacts financial accuracy and operational efficiency by providing reliable data essential for capital planning and asset maintenance decisions.

Key Responsibilities

• Maintain the fixed asset register by accurately recording additions, transfers, and disposals within the Odoo system.
• Execute monthly depreciation runs and ensure correct allocation of costs to relevant cost centers, such as Refining and Laboratory.
• Coordinate and conduct periodic physical asset counts at refinery and office locations to verify existence and condition.
• Investigate and resolve discrepancies between physical counts and the fixed asset register to ensure data accuracy.
• Review capital expenditure requests to ensure compliance with capitalization policies and approval authorities.
• Provide comprehensive asset schedules and documentation to internal and external auditors during statutory audits.
• Process asset write-offs and disposals in accordance with company policy and environmental regulations.
• Prepare fixed asset disclosures for quarterly and annual financial statements in compliance with IFRS.
• Identify opportunities to enhance fixed asset controls and streamline accounting processes for greater efficiency.
• Collaborate with Operations, Procurement, and HSE teams to ensure accurate asset data and compliant disposal practices.

Qualifications and Requirements

• A minimum of 10 years of experience in fixed asset management.
• Demonstrated ability to maintain fixed asset register accuracy above 98% after physical verification cycles.
• Proven track record of posting monthly depreciation journals with zero errors or adjustments.
• Experience ensuring capital expenditure capitalization within 30 days of asset commissioning.
• Ability to ensure zero or insignificant external audit findings related to fixed assets.
• Proficiency in completing reconciliation between sub-ledger and general ledger within three days of month-end.
• Experience ensuring 100% compliance of asset disposal documentation with environmental and internal policies.
• Capability to update and document standard operating procedures for fixed assets annually.

Work Environment

This is a full-time position based in Riyadh, Saudi Arabia, within a dynamic industrial environment. The role requires collaboration with various internal departments to ensure comprehensive asset management.