Gautrain Management Agency: Specialist: Asset Management

Specialist: Asset Management

Gautrain Management Agency Head Office, 44 GRAND CENTRAL BOULEVARD Midrand


Job Description

The Gautrain Management Agency (GMA) is a Provincial Public Entity established in terms of the Gautrain Management Agency Act, Act 5 of 2006 and is listed as a Public Entity in Schedule 3 of the Public Finance Management Act. The GMA is an equal Opportunity and Affirmative Action Employer and is committed to the achievement and maintenance of diversity and equality in employment, especially in respect of race, gender and disability as per the GMA Employment Equity Plan and Numerical Targets. Applicants with proven suitability, knowledge and experience as required in the posts advertised are invited to submit their applications to the GMA for the attentionof the Human Capital. If you have not received any response from us 30 days after the closing date consider your application unsuccessful.


Purpose: Responsible for the recording and safeguarding of all GMA assets by maintaining the Fixed Asset Register and reconciling the register with the general ledger on a monthly basis.

Requirements:  Diploma in Accounting, or Cost & Management Accounting, or Internal Audit; 5 years’ experience in Asset Management – Financial – environment with 3 years’ Experience in Basic Understanding of depreciation and wear and tear calculations; PFMA and Treasury Regulations; The application of GRAP 13, GRAP 17 and GRAP 102 and other related standards or the IFRS equivalent (IAS 16, IAS 17 and IAS 38 and other related standards); Assets maintenance and general management practices; Knowledge of Government Immovable Assets Management Act. Good knowledge of Assets Management policies, practices, processes and systems; Experience in dealing with complex assets of a significant value (preferably rolling stock), including asset classification and hierarchy; GRAP or IFRS knowledge, particularly in regards to accounting for assets in terms of GRAP 13 – Leases, 17 – PPE and 102 – Intangible Assets; Good communication skills at various levels; Have the ability to work well under pressure and meet deadlines.

Key Responsibilities:

Implement the Asset management Policy and Procedures of the GMA.

·        Implement and maintain internal control processes in safeguarding GMA assets.

·        Minimise audit risk by complying fully with the procedures and policies.

·        Compliance with PFMA (Public Finance and Management Act) and Treasury Regulations.

·        Compliance with GRAP (Generally Recognised Accounting Practice).

·        Management of Stakeholders and internal customers including communication.

·        Perform calculations for changes in estimates (change in remaining useful live)

·        Disclosure requirements for changes in estimates (change in useful live)

·        Draft/Update policy and procedure for new asset categories

Maintaining the asset register:

·        Capture asset additions and/or enhancements according to the asset hierarchy as defined in the GMA Assets Policy and Procedure, Concession Agreement and the Position Paper.

·        Barcode new asset acquisitions.

·        Accurately capture and derecognise from the fixed assets register all obsolete assets in line with the fixed assets policy.

·        Update the fixed assets register with the physical verification outcomes to address existence, completeness and physical asset conditions.

·        Conduct regular asset verifications as defined in the Policy.

·        Document and keep audit trail for asset counts conducted each financial year for audit purposes.

Accounting for assets and financial processing.

·        Reconciliation of asset additions (FAR vs Cashbook)

·        Asset Reconciliation (FAR vs TB)

·        Prepare asset journals for TB adjustments

·        Process/Run Quarterly/Yearly Depreciation on Asset Management System

Maintain GMA Asset management Reporting Systems for the GMA.

·        Compile quarterly and yearly additions report per asset category

·        Compile quarterly and yearly work in progress reports including WIP Additions, WIP Write Offs and WIP Transfers to respective asset categories.

·        Compile quarterly and yearly fixed assets write off reports

·        Compile quarterly and yearly reports on asset losses

The GMA offers competitive market related salaries and the remuneration is on a Total Guaranteed Package.

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