Jobs Career Advice Signup

Send this job to a friend


Did you notice an error or suspect this job is scam? Tell us.

  • Posted: Feb 7, 2023
    Deadline: Feb 14, 2023
  • Safaricom is the leading provider of converged communication solutions in Kenya. In addition to providing a broad range of first-class products and services for Telephony, Broadband Internet and Financial services, Safaricom seeks to uplift the welfare of Kenyans through value-added services and support for community projects.
    Read more about this company


    Acquire to Retire Team Lead

    Reporting to the Finance Shared Services Lead, the role holder will lead the Acquire to retire team in ensuring proper accounting and management of fixed assets and inventory is done. This is through review of accounts, overseeing reconciliations and controlling risks. The role holder will also manage the company owned and leased assets both tangible and intangible). They also oversee the preparation of monthly management reports and are involved in the working capital management as well as cost saving initiatives through inventory analytics to derive trends and insights from past activity and future forecasts. The holder of the position also handles the internal and external auditors’ questions in relation to fixed assets and inventory accounting and ensures that issues raised are addressed within agreed timelines.

    Key Responsibilities

    • Ensures the reconciliation of fixed assets, register to the general ledger monthly breaking down major categories of assets into cost, depreciation, and net book value
    • Before month end, liaise with technology division to ensure that all assets put in use in the month especially network infrastructure elements are accounted for under additions for the month by quantity and value
    • Ensure analysis of additions from Accounts Payable ledger and classify them into main asset categories monthly. Maintain proper trail of supporting documents for additions to fixed assets
    • Ensure review of the Purchase Orders monthly to ensure that any commitments made in respect to assets which have not yet been invoiced are accounted for in the correct accounting period especially items relating to CWIP
    • Review and approve disposals on a need basis and ensure the same are in line with company policy and fully analyzed and properly accounted for including retirement of assets from the register
    • Ensure accurate Computation of monthly depreciation per asset and per group of assets and ensure that it is properly accounted for. Perform a global check for depreciation charge per assets category to ensure reasonableness
    • Review and approve schedules required for tax computation purposes as and when required to ensure that proper and maximum possible capital allowances are claimed periodically. Liaise fully with taxation section
    • Justify any adjustments to fixed assets with proper analysis of the impact it has on depreciation.
    • Ensure the ageing of CWIP monthly based on the issuance report to ensure that no items remain therein for more than 6 months
    • Ensure P$L and balance commentaries are done within stipulated timelines, identifies key performance variances, and provides recommendations and insights on the same.
    • Liaise with the technology, Business partnering, supply chain and other relevant stakeholders for projects capitalization.
    • Manages the delivery of timely and accurate reports to satisfy statutory and business requirements 
    • Ensures the integrity of processes and systems to record transactions in compliance with accounting policies and statutory regulation
    • Manage the audit queries and ensure closure of the same within the stipulated timelines
    • Assessing relevance of procedures and policies on the section operations against applicable international accounting standards and Vodafone guidelines and recommending updates there from
    • Ensure implementation of approved inventory procedures and policies in line with the international accounting standards and Vodafone guidelines
    • Ensure Preparation of devices margin analysis and recommending action points based on performance of each device to ensure that the business achieves target EBITDA.
    • Ensuring all stocks purchased by the business are properly recognized and valued for inclusion in the financial ledgers in accordance with the Vodafone Accounting policies and International Accounting standards.
    • Ensuring computation of the correct Cost of sales and matched to revenues generated in defined periods
    • Ensuring accurate values for reporting in the Balance sheet are provided monthly through performing analytics on various streams of business that relate to inventory to confirm accuracy and consistency.
    • Overseeing regular physical verification of the stocks to compare quantities and values against the inventory records and ledger amounts and ensure variance reports to explain differences between expected and physically available are prepared and approved
    • Ensuring The list of obsolete and slow-moving stock items is availed monthly for provisioning or write-off as per the inventory policy
    • Ensuring Accurate values for insurance purpose are provided when required
    • Ensure the preparation of inventory reports to support working capital management by undertaking inventory analytics necessary in decision making
    • Review of inventory accounts to ensure that they have been prepared according to all applicable international standards.
    • Assessing inventory risks and recommending changes to areas of exposure and implementing agreed internal controls to ensure completeness in reporting.
    • Ensure all policies and processes adhere to the Control Framework, embed a strong Financial Control environment, applying a risk-based approach
    • End to end process documentation, KPIs, and dashboards (daily, weekly, and monthly) for the leadership team reviews
    • Planning, scheduling and supervision of quarterly, half yearly (for Capex stocks) and surprise stock-takes
    • Overseeing the opening and closing of inventory periods
    • To engage other departments in setting, reviewing, and enforcing agreed inventory internal controls procedures and policies including planning and facilitating in-house workshops for all teams requiring inventory finance exposure.
    • To engage all third-party agents contracted by Safaricom in the management of inventory by ensuring accurate and up to date inventory records are kept. Managing all financial aspects relating to inventory held in third party location including recommending charging for any loses or unaccounted for stocks
    • Drive the digital agenda for Acquire to Retire by supporting the automation of A2R processes for efficiency


    Skills required:

    • A graduate with a degree in a financial field
    • Recognized accounting qualification (CPA (K), ACCA, etc.) and a member of a professional body
    • Relevant post-graduate education is an added advantage
    • Have at least 6 years’ experience in Finance, 2 years of which must be at supervisory level.
    • Previous experience working in Fixed Asset and Inventory Function necessary.
    • In depth knowledge and experience to provide strong financial decision support to the business.
    • Able to take a holistic view of the business with a financial focus
    • Understands financial data to provide value-added insight
    • Up to date knowledge of best practice in accounting processes and accounting systems
    • Team management skills
    • Highly developed interpersonal and communication skills
    • High level experience and skills working with stakeholders

    Technical Competencies:

    • Strong, proven accounting acumen
    • High analytical skills and proficient in Oracle, Microsoft applications and other analytical tools
    • Takes account of financial impact of actions, makes the best use of resources, meets deadlines, manages own time effectively
    • Identifies practical solutions to problems
    • Chooses the most appropriate way of communicating in style and content.

    Method of Application

    Interested and qualified? Go to Safaricom Kenya on to apply

    Build your CV for free. Download in different templates.

  • Send your application

    View All Vacancies at Safaricom Kenya Back To Home

Subscribe to Job Alert


Join our happy subscribers

Send your application through

GmailGmail YahoomailYahoomail