Fixed Asset Manager

Towson University•Towson, MD

About The Position

The Fixed Asset Manager is responsible for identifying, managing, and reviewing the tagging and recording of new capital and sensitive asset acquisitions. This role also involves identifying, updating, and reviewing records of asset transfers, disposals, and retirements, ensuring the fixed asset inventory remains current and compliant with institutional policies and regulatory requirements. Key duties include planning, coordinating, and overseeing annual sensitive assets audits and biennial capital inventory audits, which involves developing audit schedules, coordinating physical inventories with departments, supervising asset verification, preparing reconciliations and reports, and addressing discrepancies. The manager will also ensure compliance with institutional and USM regulations, prepare for and respond to audits, implement audit recommendations, and supervise staff and student employees. Developing and updating policies for asset management and control, implementing process improvements, and training staff are also crucial aspects of this role. Additionally, the position requires reconciling monthly asset records, ensuring correct application of depreciation and capitalization policies, assisting with year-end financial reporting, communicating with and training inventory coordinators, and performing fixed asset-related testing for Oracle system updates.

Requirements

Bachelor’s Degree, preferably in Accounting, Finance or business-related field, and four years of related experience.
Understanding of capital asset classifications, depreciation, and financial reporting requirements.
Familiarity with federal, state, and institutional policies related to property records, including GAAP (Generally Accepted Accounting Principles), GASB (Governmental Accounting Standards Board), and audit requirements.
Experience with asset management ERP systems such as Oracle, PeopleSoft and AssetWorks.
Knowledge of best practices for asset tracking, tagging, reconciliation, and disposal processes.
Awareness of internal controls and risk assessment methodologies to prevent asset mismanagement.
Understanding of acquisition, surplus, and disposal regulations for capital and sensitive assets.
Capability to identify discrepancies, analyze trends, and develop solutions to improve asset tracking.
Ability to plan and execute physical inventory audits, manage deadlines, and coordinate with multiple internal and external constituents.
Proficiency in Excel, database management, and asset management software.
Experience in leading a team, providing guidance, and ensuring compliance with policies and procedures.
Self-motivated to oversee asset records and drive process improvements.
Ensuring compliance with institutional and external guidelines for asset management.
Educating employees on property record policies, proper asset management, and reconciliation procedures.
Strong verbal and written communication skills to work with stakeholders, provide training, and respond to audit inquiries.

Responsibilities

Identifying, managing and reviewing the tagging and recording of new capital and sensitive asset acquisitions.
Identifying, updating, and reviewing the records of asset transfers, disposals and retirements.
Ensuring the fixed asset inventory remains current and compliant with institutional policies and regulatory requirements.
Planning, coordinating, and overseeing the annual sensitive assets audit and biennial capital inventory audit cycle.
Developing an audit schedule, coordinating with departments to conduct physical inventories, supervising and performing asset verification, preparing departmental inventory reconciliations and reports, and addressing discrepancies.
Preparing final inventory cycle reports and responding to inquiries regarding asset status, policies, and audits.
Ensuring compliance with institutional and USM regulations.
Preparing for and responding to internal and external audits.
Implementing audit recommendations to improve asset tracking and reporting.
Supervising staff and student employees.
Developing and updating policies for asset management and control.
Implementing process improvements to enhance efficiency and accuracy.
Training staff on asset management policies and procedures.
Reconciling monthly asset records and ensuring depreciation and capitalization policies are correctly applied and posted correctly.
Assisting with year-end financial reporting related to fixed assets.
Communicating with and training inventory coordinators regarding their role as inventory custodians for their departments.
Performing fixed asset-related testing for Oracle system updates.