Manager, Lease Accounting
1 month ago
Fairfield County/Westchester, NY area
A company undergoing a major transformation is seeking a Lease Accounting Manager. This firm is committed to investing in its employees and putting its best foot forward. Following recent changes, the company is looking to enhance its accounting talent and expand its team. They are seeking individuals who thrive on challenges and are eager to elevate their careers as the company continues to grow
In this role, you can expect to:
- Review contracts to determine ASC842 lease application and prepare and track lease schedules, payments, and reconciliation.
- Lead and own the monthly financial close process for operating and finance leases.
- Identify contract variations that could impact lease accounting under Financial Accounting Standards Board Accounting Standards Codification 842, Leases ("ASC 842").
- Manage accounting components of the lease portfolio, such as extensions, amendments, or terminations.
- Work closely with the Lease Administration team
- Ensure that lease transactions are recorded accurately, consistently, and within company policy.
- Manage lease amortization schedules for accuracy and completeness.
- Manage key period-end lease reconciliations, including the reconciliation of the lease GL accounts.
- Prepare lease accounting journal entries.
- Determine the proper handling and ensure timely resolution of discrepancies/outstanding items on account reconciliations.
- Provide balance sheet account movements to support cash flow reporting.
- Analytically review and understand monthly lease expenses, working with the Financial Planning & Analysis team to assess actuals against budget.
- Collaborate with key cross-functional partners including finance, legal, data analytics, data center operation, and inventory management to ensure key stakeholders are informed.
- Identify opportunities to improve efficiency in the current processes and lead enhancements, both manual and automation opportunities, including identifying existing functionalities not being fully utilized.
- Own the development and maintenance of lease policies, as well as evaluation of contracts that may contain leases
- Provide any audit support required.
- Maintain documentation for the lease process to ensure compliance with Sarbanes Oxley 404 requirements and evaluate current processes for improvement. Ensure compliance with the Company's internal controls over financial reporting.
- Ad hoc projects assigned by senior management including analysis of business operations, proposed accounting treatment of unusual transactions or other accounting and finance-related matters.
- Strong knowledge of lease accounting applications
- BA/BS degree and a minimum of 5+ years of accounting,
- 3 years of lease accounting experience is preferred.
- Excellent organizational, time, and self-management skills & ability to prioritize and work well under pressure to meet deadlines.
- Team player with a positive attitude that embraces challenges and thrives in a fast-paced environment.
- Strong analytical and problem-solving skills
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