Manager, Capital Assets

Manager, Capital Assets

US-NJ-Princeton

Job ID: 2022-16015
Type: Full-Time
# of Openings: 1
Category: Financial Services and Procurement

Princeton University

Overview

Reporting to Senior Associate Controller the Manager, Capital Assets is the University property expert and has overall responsibility for the accounting, inventory, and compliance of all of the University’s capital assets, which total approximately $5.0 billion in net book value as of FY22. This role will support campus departments through the process of identifying, tracking, updating, and disposing of capital assets. The Manager, Capital Assets will work closely with campus departments, Environmental Health and Safety, Facilities Design & Construction, Facilities Surplus, Office of Research and Project Administration, Procurement Services, Sponsored Research Accounting, and others, as needed to ensure timely and accurate reporting and compliance with all regulations surrounding management of equipment. The Manager, Capital Assets works independently and assumes end to end responsibility for the asset management processes, which include asset tagging and inventory; data maintenance; ad hoc, monthly, and year end reporting; sponsored research compliance; and communication and training. As such, this position requires independent decision making and high level of judgment. The Manager, Capital Assets will be instrumental to successful inventory and audit of the University’s capital assets.

In addition, the Manager, Capital Assets is the functional owner of the Asset Management system and has all responsibilities of functional ownership including system upgrades, testing of upgrades, report design, Prime Change Requests (PCRs), etc.

In this capacity, the Manager, Capital Assets will have these primary responsibilities:

• Manage the financial accounting of the university’s capital assets, including ensuring that the asset detail (land, buildings, equipment, books and fine art) is complete and up-to-date, reviewing depreciation calculations and reconciling asset details to the general ledger
• Oversee the inventory of moveable equipment capital assets, including partnering with colleagues in the office of Sponsored Research Accounting to ensure that requirements for equipment acquired using federal funds are met
• Ensure compliance with all applicable property management guidelines and Federal regulations
• Report on equipment purchased on sponsored awards according to the guidelines of the sponsor
• Ensure effective communication and training for campus departments in support of an accurate and timely inventory and accounting of capital assets

The successful performance of these responsibilities ensures that the University is able to maintain a full and accurate accounting of its capital assets for financial and physical reporting and is in compliance will all applicable policies and regulations.

The Office of Finance & Treasury actively searches for staff members of exceptional ability and promise who share in Princeton University's commitment to excellence, and who present a diversity of viewpoints and cultures. We offer varied professional opportunities spanning all aspects of financial management, analysis, and processing in support of the teaching and research mission. As part of the University community, we respect the dignity and individuality of each member while trying to foster a sense of shared experience and common purpose. We are unwavering in our commitment to both diversity and community and embrace the variety of talents, backgrounds, and perspectives of all of our colleagues.

Responsibilities

Maintain capital assets within PeopleSoft

• Deliver ongoing training and communications for Campus Departments on the implementation and use of the PeopleSoft Asset Management module
• Maintain the capital assets inventory, including reviewing new assets added to the system, approving new assets, maintaining the asset records, and recording disposals of the assets

Manage the financial accounting of the university’s capital assets

• Maintain asset profiles, including asset depreciation schedules to ensure completeness and accuracy
• Review and approve depreciation calculations on a monthly basis
• Reconcile gross and net asset values per the Asset Management module to the General Ledger
• Participate in month-end close by reviewing and approving of any changes to assets
• Track and record any capital asset dispositions and gain/loss from such events
• Manage year-end accounting processes and report on the value of the university’s capital assets
• Implement and update policies related to capital assets

Manage the effective and efficient identification, reporting, and tracking of capital equipment

• Develop and manage the moveable equipment inventory processes to ensure that all assets are accounted for and in compliance with internal and external policies and regulations
• Follow-up with campus departments to identify those assets that cannot be located and work to resolve these discrepancies
• Manage the asset tagging process, including printing of tags and delivery to department custodians
• Provide ongoing guidance and training to campus departments on all aspects of the asset identification, tagging, and moveable inventory processes
• Partner with the Facilities Surplus Office to ensure the timely and accurate reporting of disposed assets.
• Develop and implement policies and procedures to ensure fabricated equipment is appropriately captured within the capital assets processes.

Reporting and Compliance

• Provide monthly, annual, and ad-hoc reports on capital assets and various attributes
• Coordinate the response to capital asset audits
• Ensure compliance to federal requirements for tracking capital assets, including Uniform Guidance requirements for tracking moveable equipment
• Report to sponsors on equipment purchased on awards on award closeout and as requested by sponsor
• Collaborate with the Office of Sponsored Research Accounting and the Office of Research and Project Administration to ensure compliance with all applicable sponsor requirements.

Manage and Maintain the PeopleSoft Asset Management System

• Collaborate with Finance Technology and OIT personnel regarding implementation of upgrades that impact Asset Management system
• Test system upgrades to Asset Management system and report outcomes to Finance Technology
• Identify improvements needed to the capital asset management processes and PeopleSoft module

Other

• Assist with special projects in connection with the University’s accounting and reporting
Maintain professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; participating in professional societies

Qualifications

Essential Qualifications:

• Bachelor’s degree in accounting, finance, or related discipline
• 5-7 years experience with emphasis in fixed asset accounting, inventory, or related area
• Strong analytical and problem-solving skills with close attention to detail
• Ability to collaborate with other departments
• Ability to balance multiple priorities from multiple stakeholders
• Experience with capital asset management solutions and methodologies including tracking, depreciation, and reporting
• Strong project management and process design skills
• A demonstrated understanding and strong working knowledge of applicable accounting principles and internal controls

Preferred Qualifications:

• Familiarity with PeopleSoft Asset Management or other ERP suites
• Experience with physical inventory processes
• Experience with sponsored research grants
• Experience in a Higher Education environment

Princeton University is an Equal Opportunity/Affirmative Action Employer and all qualified applicants will receive consideration for employment without regard to age, race, color, religion, sex, sexual orientation, gender identity or expression, national origin, disability status, protected veteran status, or any other characteristic protected by law. KNOW YOUR RIGHTS

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