BERKADIA ASSET MANAGEMENT POLICY
CONTENTS
1. Policy statement and Purpose: ....................................................................................... 2
2. Scope of the Policy: ......................................................................................................... 2
3. Roles and Responsibilities ................................................................................................. 3
4. Asset Value........................................................................................................................ 4
5. Asset tracking Requirements ........................................................................................... 4
6. Employee General Asset Allocation Approval .............................................................. 5
7. Asset Disposal and Repurposing ..................................................................................... 6
8. Asset Recovery : ............................................................................................................... 6
9. Asset Damage and Lost/ Stolen : .................................................................................... 6
10. Audit Controls and Management................................................................................... 8
11. Enforcement...................................................................................................................................... 8
12. Distribution ......................................................................................................................................... 8
13. Asset Delivery Process during WFH-COVID .............................................................................. 8
14. Definitions ........................................................................................................................................... 9
15. Exhibits and Examples................................................................................................................... 10
16. Policy Approval .............................................................................................................................. 11
1
BERKADIA ASSET MANAGEMENT POLICY
Effective date:
1. POLICY STATEMENT AND PURPOSE:
The purpose of Berkadia Asset Management Policy (the “Policy”) is to ensure that
information systems, applications, and components on or accessed from
Berkadia’s network, and owned by Berkadia or hosting Berkadia data, effectively
documented and tracked throughout their life cycle.
Asset management is the process of receiving, tagging, documenting, allocating,
monitoring, and eventually disposing of equipment. It is critically important to
maintain up to date inventory and asset controls to ensure IT & Admin equipment
locations and dispositions are well known. Lost or stolen equipment often contains
sensitive data. Proper asset management procedures and protocols provide
documentation that aid in recovery, replacement, criminal, and insurance
activities.
This policy provides procedures and protocols supporting effective organizational
asset management specifically focused on Berkadia Assets.
2. SCOPE OF THE POLICY:
The following asset classes are subject to tracking and asset tagging:
• Desktop
• Laptops – Both Berkadia Owned and Leased Laptops.
• Monitors
• Tablet devices
• Printers, copiers, fax machines, and multifunction print devices
• Handheld devices
• Mobiles handsets
• Scanners
• Servers
• Network appliances (e.g. firewalls, routers, switches,
Uninterruptible Power Supplies (UPS), endpoint network
hardware, and storage)
• Private Branch Exchange (PBX) and Voice over Internet
Protocol (VOIP) Telephony Systems and Components
• Internet Protocol (IP) Enabled Video and Security Devices
• Memory devices
2
3. ROLES AND RESPONSIBILITIES
DEPARTMEN
ROLE RESPONSIBILITY
T
Proposal, Design, Approval and Implementation of the policy.
Senior Shall ensure that every resignation form is counter signed by respective
HR
Manager departmental heads/manager before processing the full and final
settlement of the employee.
Receipt of requests on employee assets, allocation thru disposal
Based on HR communication, IT will notify Admin team with the list of assets
to be collected from resigned employee.
Senior Admin will organize a cab transport to collect the assets from employee and
Admin
Manager same will be handed over to IT.
Outstation: Employees are requested to courier the assets to office/to be
handed over in person and the expenses can be reimbursed by
finance/adjusted in Full & Final Settlement (F & F)
The IT assets provided to the employees are basically decided by IT Team to
meet all the necessary requirements from a configuration, safety, Security
Senior and Compliance standpoint.
IT
Manager The allocation of the Assets will be managed and tracked by IT Team in an
asset management sheet which is centrally located in a SharePoint portal to
have an access from India and US.
Sudipto
Shall ensure that the capital budget as submitted by the IT and Admin after
Mukherjee
budget balancing process and fund is included in the budget for
,
consideration by the concerned authority (please refer procurement
Debashish
Finance – policy). A clear description of the funding source is also required. Shall
Ghosh,
Budgets include a capital project only after receiving written authority and a clear
Praveen
and concise description of the item to be purchased as well as an allocated
Polavara
responsible person for this asset.
m & Jai
This information must be indicated by the department in Procurement Policy
Gowni
Based on the capitalization date, arrive depreciation value and balance
asset value.
As per Companies Act 2013 hold 5% minimum balance for every asset.
Calculate balance amount as per Date of Leaving (DOL) if the employee is
leaving without returning the specific asset.
The model to arrive at the depreciation value will vary with the asset & it will
not be the same for all assets.
Praveen P F&A
Shall ensure that invoices authorized for payment are matched to the goods
received note / proof before processing such payment.
Shall if any doubt exists as to whether the invoice is in accordance with
policy, query the payment with the relevant department and shall not
process a payment until the invoice meets the policy criteria.
Shall ensure that there is notification about the disposing or written-off asset
or asset inventory items.
Managers Operations responsible for leading the adoption of this policy within their department
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4. ASSET VALUE
Assets which cost less than Rs. 5000.00 shall not be tracked, including computer
components such as smaller peripheral devices, video cards, or keyboards, or
mice. However, assets, which store data regardless of cost, shall be tracked either
as part of a computing device or as a part of network attached storage. These
assets include:
Network Attached Storage (NAS), Storage Area Network (SAN) or other
computer data storage.
Temporary storage drives
Tape or optical media with data stored on them including system backup
data.
5. ASSET TRACKING REQUIREMENTS
The following procedures and protocols apply to asset management activities:
All Berkadia Owned / Leased assets must have an internal asset number assigned
and mapped to the device’s serial number.
An asset-tracking database shall be created to track assets. It shall minimally
include purchase and device information including:
Date of purchase
Make & model.
Serial Number
Location
Type of asset
Owner
Department
Purchase Order number & Disposition
Prior to deployment, IT staff shall assign an ID to the asset and enter its
information in the asset tracking database. All assets maintained in the asset
tracking database inventory shall have an assigned owner.
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6. EMPLOYEE GENERAL ASSET ALLOCATION APPROVAL
Contract staff and full-time employees are eligible to avail the assets as per
the need of the profile.
Admin team in consultation with IT and BU teams is responsible to organize
the assets to respective employees and maintain a track record of
deliveries.
Line Managers and respective BU Vertical heads are accountable to
recommend /approve the asset requests based on employee need.
Line Manager to recommend vertical head by advising the necessity of the
asset as per employee need.
Vertical head or BU POC will share the employee details to IT team in a
prescribed format.
IT & Admin team to initiate asset procurement process (Get 3 quotes from
vendors and share it with Finance team) upon receipt of employee list from
BU’s and loop Finance & Admin Teams.
Admin & IT team communicates the asset shipment status along with
delivery guidelines to employees.
Employee will be confirming the asset receipt to Admin POC & IT (Helpdesk
Team)
Employees are responsible to follow the guidelines as notified by Admin
team at the time of delivery.
In case of any technical or warranty issue, employees need to reach out to
IT (
[email protected]) team to initiate the service request and follow the
necessary guidelines.
Employees can ship /courier the Work from home furniture/Assets (Including
UPS, Table & Chair) at their own cost in case of relocation / shifting home.
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7. ASSET DISPOSAL AND REPURPOSING
Procedures governing asset management shall be established for secure disposal
or repurposing of equipment and resources prior to assignment, transfer, transport,
or surplus.
When disposing of any asset, sensitive data must be removed prior to disposal.
Appropriate Department support staff shall determine what type of data
destruction protocol should be used for erasure. Confidential or Employee
personally identifiable information (PII) that is not being repurposed, disks shall be
physically destroyed prior to disposal.
Note: The Leased laptops to be returned to vendor after the end of Leased period
(3 Years). IT Team will completely wipe the Berkadia confidential & employee
personal data (if any) before handing them over to vendor.
E-Waste: As per the Environment protection Act 1986 with reference to Rules 9 &
10 the company must adhere to the listed compliance requirements in the act.
Berkadia should ensure that e-waste generated by it is channelized through
collection centre or dealer or dismantler or recycler and the required filings are
completed on a timely basis.
8. ASSET RECOVERY:
Asset recovery covers both Working from Office and Working from Home
situations.
Based on HR communication, IT will notify Admin team with the list of assets to be
collected from resigned employee.
If an employee is resigned who is residing outside of Hyderabad, then he/she has
to the return the assets through courier for which Admin will coordinate with
respective employee until asset is received. In this case courier charges incurred
by an employee will be reimbursed by the company, upon submission of the bill
and payment receipt to finance.
For local employees, Admin team will arrange the cab transportation to recover
the IT assets.
Admin team will notify IT with the list of the assets recovered from employees.
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In case of employee resigns and does not return the designated assets,
depreciated value will be adjusted in F&F.
In case of employee found absconding the asset value will be written off by
Finance department.
UPS/Chair/Table are non-returnable.
If an employee resigns, UPS/WFH furniture asset value will be adjusted in F&F.
Depreciated value will be calculated by Admin team based on the date of asset
delivery and the asset life considered as one year.
9. ASSET DAMAGE AND LOST/STOLEN:
In case of damage to Berkadia Owned / Leased asset, an employee is required
to inform their supervisor and IT team within 24hours with the description and
extent of damage as to impact of it on the usability of the asset.
If the damage renders the asset non-functional the IT to work with Admin on
issuance of new asset to employee.
Asset (Owned/Leased) damages will be notified to insurance by the Admin /
Finance team to process the claim of the damages.
In case of Lost or Stolen Berkadia / Leased asset an employee is required to inform
their supervisor and IT team within 24hours. A FIR is required to be filed promptly
and an acknowledgement (Non-Traceable certificate) must be submitted to the
IT team. Asset value as determined by the finance to be recovered from the
employee through a cheque in favor of “Berkadia”.
The Insurance norms and guidelines are similar for the Berkadia owned & Leased
assets.
The company (Berkadia) shall bear expenses for IT Assets maintenance and
repairs arising out of the normal wear and tear conditions. However, in the event
of any damage to the IT Assets arising out of the negligence or misuse of the IT
Assets by the employee after verification from the IT technician, the employee
shall be solely liable to make the payment for all the expenses arising therefrom
(Non claimable amount from Insurance vendors will be deducted from
employee). The Company shall have the right to reclaim such expenses and
deduct the same from employee. In case of resigned employee, the amount will
be deducted from employee’s F&F.
In case loss of Berkadia owned asset finance department will determine the value
of the asset and arrive at the deprecation value.
7
Amount to be recovered in case of lost leased asset:
• 50% of the asset value between 12 months to 24 months
• 30% of the asset value between 24 moths to 36 months
• 25% of the asset value for 36 months and above
10. AUDIT CONTROLS AND MANAGEMENT
On-demand documented procedures and evidence of practice should be in
place for this operational policy. Satisfactory examples of evidence and
compliance include:
Current and historical asset management system checks for various
classes of asset records.
Spot checks of record input and accuracy against tracking database.
Remote tracking of the machines (Which machine is being used by
whom) is under the control of IT department to submit the details for any
Audit purposes by using different tools available with IT Team.
Evidence of internal process and procedure supporting this policy for
compliance.
11. ENFORCEMENT
Staff members found in policy violation may be subject to disciplinary action, up
to and including termination.
12. DISTRIBUTION
This policy is to be distributed to all Berkadia staff.
13. ASSET DELIVERY PROCESS DURING WFH-COVID
The delivery of IT assets (Laptops/ monitors/ keyboard/ mouse/ headsets) will be
dispatched through Cab transport or courier.
Admin will share the asset delivery guidelines along with details of assets
dispatched through cab/courier to follow the necessary steps during asset
delivery.
8
Driver / Courier staff will reach out to employee over phone prior to arrival.
Employee to confirm availability and guide them if they have any confusion to
find the address.
Drivers /courier staff will maintain contactless deliveries following 6 feet distance.
Upon receipt of package, employee to check for any physical damages and
report it immediately to their respective manager and IT Team
([email protected]).
Associates should cross check the serial no mentioned on the laptop /monitor
and on the box, both numbers to be matched with assigned serial number along
with receipt of other assets like keyboard, mouse / headset.
On receipt of IT assets, employee should confirm the same to respective
manager, IT and admin POC through email stating that ‘Shipment has been
received without damages’ on the delivery day.
If any location is non serviceable by courier agencies, those assets dispatch will
be delayed or kept on hold. Admin team will explore the alternate options to
attempt the delivery and notify the dispatch status to respective Vertical head
and supervisors. It may also require an associate to collect the asset from the
nearest location to which the asset could be couriered.
14. DEFINITIONS
TERM DEFINITION
An asset is a resource, tangible, controlled by the entity which is
Asset expected to be used during more than one reporting period and
from which future economic benefits or service potential will flow.
Process of management of the employee assets of Berkadia as
Asset Management required by the management which inter alia includes the
compilation of an asset register
The amount of cash or cash equivalents paid, or the fair value of
Cost
the other consideration given to acquire an asset
This is the systematic allocation of the cost of use of an asset over
Depreciation
its useful life.
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The cost of an asset, or other amount substituted for cost in the
Depreciable Amount
financial statements, less its residual value.
An Employee asset register is a list of the assets issued to the
employees by the company. It contains pertinent details about
each asset to track their value and physical location. Asset
Employee Asset Register
Register preferably in computerized format and maintained strictly
in accordance with this document, which shall reflect all the
employee related assets of the company (Berkadia).
An asset is impaired when the carrying amount exceeds its
Impairment
recoverable amount or recoverable service amount.
The estimated amount that Berkadia would currently obtain from
Residual value
disposal of the asset after deducting the depreciation
Useful life is either: - the period over which an asset is expected to
Useful life
be available for use by the Berkadia
15. EXHIBITS AND EXAMPLES
Exhibit Number Form Title Description of Form
and Icon
Exhibit - E1 Process Flow Chart-Admin
Process flow of non
IT Assets.docx
Exhibit – E2 Process flow chart-IT
IT assets delivery and
returns process.docx
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Exhibit – E3 Asset List IT & Admin
IT Non IT assets List
& Depreciation.xlsx
16. POLICY APPROVAL
Approved by Date Signature
Vice President HR
Site Director
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