Fixed Assets Accountant

Job title: Fixed Assets Accountant

Company: VIRTUS Data Centres


Job description: About VIRTUSVIRTUS Data Centres is the UK’s fastest growing data centre provider which owns, designs, builds and operates the country’s most efficient and flexible data centres. In May 2023 we announced our plans to expand into continental Europe, with our first data centre due to open in Berlin in 2026, to be quickly followed by two full campuses and expansion into other countries in the pipeline. Our purpose is to serve humanity by being an active, positive participant in the 4th industrial revolution. When we talk about our purpose, we refer to our customers’ customers; the child playing a computer game, the person watching their favourite movie, booking a medical appointment, a plane ticket, a hotel or doing their online banking; those things can’t be done if we don’t do our job. Our mission is to consistently exceed the expectations of customers through innovative, highquality solutions and services. We employ intelligent thinkers – people with positive attitudes, who add to the quality of our customer proposition and business. We value individual endeavour and initiative and encourage teamwork and togetherness because collective experience and expertise is VIRTUS’ greatest strength.Job Summary:We are seeking an experienced Fixed Assets Accountant to manage and oversee our fixed assets to ensure accurate financial reporting and compliance. Implementing best practice in terms of Finance processes, controls and system improvements relating to fixed assets. The role will include taking full ownership and responsibility for maintaining the fixed assets register and accounting treatment for all assets and business partnering with other departments to improve processes and controls around fixed assets. The role would suit a qualified Accountant with 1-3+ years’ of practical post-qualification experience in a Finance team, and someone who is pro-active and forward thinking in driving through change within the Finance Team.Duties and ResponsibilitiesThe key responsibilities of the role include but are not limited to the following:

• Asset Management:

o Maintain the fixed assets register, ensuring all acquisitions, transfers, and disposals are accurately recorded.o Conduct periodic physical inventory counts and reconciliations of fixed assets.o Ensure proper tagging and identification of all fixed assets.

• Accounting and Reporting:

o Record asset acquisitions, disposals, and transfers in the general ledger.o Calculate and record depreciation for all fixed assets.o Monitoring assets under construction (AUC) capitalisation including identifying IAS16 capitalisation criteria and maintaining evidence for capitalisations;o Ownership of lease postings including capitalisation of lease interest and reclassification between short term and long term lease liabilityo Maintaining lease liabilities, right-of-use (ROU) assets and asset retirement obligations;o Preparation of all balance sheet reconciliations relating to fixed assets and leaseso Prepare monthly, quarterly, and annual fixed asset reports and schedules for financial reporting and audits.o Assist in the preparation of financial statements by providing fixed asset data and analysis.

• Compliance and Control:

o Ensure compliance with relevant accounting standards (e.g., GAAP, IFRS) andcompany policies.o Collaborate with internal and external auditors, providing necessarydocumentation and explanations.o Implement and monitor internal controls related to fixed assets managementin compliance with a full SOX controls environment.

• Budgeting and Forecasting:

o Assist in the preparation of capital expenditure budgets and forecasts.o Monitor capital projects to ensure they are completed within budget andproperly capitalized.

• Process Improvement:

o Identify opportunities for improving the fixed assets management process.o Implement best practices and process enhancements to increase efficiencyand accuracy.

• Collaboration:

o Work closely with other departments, such as procurement, IT, Design andBuild and operations, to ensure accurate and timely recording of fixed asset transactions.o Provide guidance and support to other team members on fixed asset-related matters.o Business partnering with the commercial team on contractual rental reviews;Any other reasonable requests made by the UK Finance Manager, Group Financial Controller and/or Head of Financial Reporting and Controls.What success looks like in 12 months’ time:

• Development of a comprehensive and fully documented fixed assets process, ensuring

all assets accounted for correctly and all required periodic inventory checks completed

• Help to develop SAP and Maximo functionality relating to fixed assets to be as

automated as possible and documented process notes.

• Demonstrable strong working relationships developed with all VIRTUS departments.

Qualifications:Essential:

• Accountancy qualification (CIMA or ACCA or ACA).

Desirable:

• Educated to degree level.

Experience:Essential:

• Strong knowledge and practical experience in usage and development of ERP

systems, specifically SAP.

• Sound practical knowledge and experience of finance processes and controls relating

to fixed asset management, and interest in continuous processimprovement/optimisation.

• Strong IFRS 16 and IAS 16 knowledge and experience

• Strong data analysis and interpretation skills.

• Good communication skills and comfortable with regular exposure to senior

management.

• Ability to work under pressure and to deadlines.

Desirable:

• Familiarity with data centre sector or other technology/capital intensive businesses

advantageous.

• Experience with Maximo

• Practical experience of finance transformation activities such as implementation,

testing and embedding of a new accounting system

• Advanced Excel skills including use of power query for data analysis.

Skills:Essential:

• Ability to contribute to and work well with the team and other stakeholders.

• Planning and organisation skills and ability to prioritise to meet deadlines and manage fluctuations in workload.

In line with the VIRTUS’ Safeguarding Policy, the successful applicant must be willing to undergo a BS7858 screening process.Remuneration package and benefits:

• Private healthcare

• Pension contribution scheme

• Eye and dental care benefit

• Discretionary bonus

• Income Protection

• Life Assurance

• Cycle to work scheme

• Annual travel card loan

• Tech Scheme

• Electric car scheme

• Workplace extras – Byond card and Extras discount

VIRTUS is an equal opportunity employer. As part of our commitment to fight for equality, we work to ensure a fair and consistent interview process. We celebrate diversity and we are committed to an inclusive work environment.Our talented teams design, build and operate of the world’s best Data Centres.

Expected salary:

Location: London

Job date: Wed, 08 Jan 2025 08:37:55 GMT

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