Senior Fixed Assets Specialist - Riyadh, Saudi Arabia

About Saudi Gold Refinery

Saudi Gold Refinery (SGR) is a Saudi mining and precious-metals company specialized in the refining of gold and precious metals, bullion production, and value-added precious-metal services. Operating within the Kingdom's mining value chain, SGR is aligned to the Vision 2030 mining pillar and to the regulatory framework set by the Ministry of Industry and Mineral Resources (MIM) and applicable Saudi and international standards. We produce responsibly sourced, traceable, and certified bullion, operate to LBMA Good Delivery and ISO-aligned quality standards, and invest in the people, processes, and controls behind every bar we produce.

Role Overview

Saudi Gold Refinery (SGR) is seeking a Senior Fixed Assets Specialist in Riyadh, Saudi Arabia to manage the lifecycle of our refining and laboratory assets. This role ensures accurate capitalization, depreciation, and physical verification of high-value industrial equipment and infrastructure. The specialist will maintain compliance with IFRS and internal controls while supporting financial reporting and audit requirements.

The Senior Fixed Assets Specialist will report directly to the Finance Manager and will play a key role in safeguarding company assets through rigorous record-keeping and reconciliation. This position impacts financial accuracy and operational efficiency by providing reliable data for capital planning and asset maintenance decisions.

Key Responsibilities

The Senior Fixed Assets Specialist will perform the following duties:

Asset Register Maintenance

The role maintains the integrity of the fixed asset register by accurately recording additions, transfers, and disposals in the ERP system.

Depreciation Processing

This position executes monthly depreciation runs and ensures correct allocation of costs to relevant cost centers such as Refining and Laboratory.

Physical Verification

The specialist coordinates and conducts periodic physical asset counts at the refinery and office locations to verify existence and condition.

Reconciliation Analysis

The role investigates and resolves discrepancies between physical counts and the fixed asset register to ensure data accuracy.

Capital Expenditure Control

This position reviews capital expenditure requests to ensure compliance with capitalization policies and approval authorities.

Audit Support

The specialist provides comprehensive asset schedules and documentation to internal and external auditors during statutory audits.

Disposal Management

The role processes asset write-offs and disposals in accordance with company policy and environmental regulations.

Financial Reporting

This position prepares fixed asset disclosures for quarterly and annual financial statements in compliance with IFRS.

Process Improvement

The specialist identifies opportunities to enhance fixed asset controls and streamline accounting processes for greater efficiency.

Stakeholder Collaboration

The role collaborates with Operations, Procurement, and HSE teams to ensure accurate asset data and compliant disposal practices.

Qualifications

• Bachelor's degree in Accounting, Finance, or a related field from an accredited institution.
• At least five years of experience in fixed assets accounting, preferably in an industrial or manufacturing setting.
• Solid understanding of IFRS, particularly IAS 16 regarding Property, Plant and Equipment.
• Proficiency in ERP systems such as SAP, Oracle, or Microsoft Dynamics for asset management.
• Advanced Microsoft Excel skills for data analysis and reconciliation tasks.
• Experience in conducting physical asset inventories and resolving variances.
• Strong analytical skills with a focus on accuracy and attention to detail.
• Fluency in English is required; Arabic language skills are an advantage.

Preferred / Nice-to-have

• Professional certification such as SOCPA, CPA, ACCA, or CMA.
• Experience in the mining, refining, or heavy industry sector in Saudi Arabia.
• Knowledge of Saudi tax and zakat regulations related to fixed assets.
• Familiarity with asset tagging and barcode scanning technologies.

Success Metrics

• Fixed asset register accuracy rate exceeds 98% after physical verification cycles.
• Monthly depreciation journals are posted with zero errors or adjustments.
• Capital expenditure capitalization occurs within 30 days of asset commissioning.
• External audit findings related to fixed assets are zero or insignificant.
• Reconciliation between sub-ledger and general ledger is completed within three days of month-end.
• Asset disposal documentation is 100% compliant with environmental and internal policies.
• Standard operating procedures for fixed assets are updated and documented annually.

Equal Opportunity Statement:

Saudi Gold Refinery welcomes applications from all qualified candidates. Hiring decisions are made based on role requirements, skills, experience, and alignment with Saudization and Vision 2030 priorities.