Manager, Lease Accounting

Job Description

Job Description Summary

Supervises a team of two lease accountants ensuring timely and accurate accounting and reporting of monthly lease transactions for a lease portfolio of real estate and equipment leases in accordance with ASC 842. Oversight of the proper accounting for tenant improvements (TI), common area maintenance (CAM) and property taxes for all leased property. This role requires a hands-on Manager who collaborates across a number of functional areas within Advance Auto Parts and is someone who is focused on streamlining manual processes through automation and tighter controls.

Hiring Requirements

Job Description

Manages the establishment and implementation of the organization's accounting policies and procedures related to Lease Accounting. Has overall responsibility for assigned accounting operations and systems.

Supervises Lease Accounting functions. Ensures Lease procedures and treatments are in accordance with ASC 842.

ESSENTIAL DUTIES AND RESPONSIBILITIES may include, but are not limited to the following (other duties may be assigned):

Manage team to ensure timely and accurate processing of lease data including but not limited to journal entries, reconciliations and forecasting.

Coordinate the performance of analytical reviews and interpretation of financial data and provides understandable explanations to non-financial business partners.

Research and resolve the proper accounting treatment for transactions relevant to assigned areas of responsibility in accordance with GAAP and established Company policy.

Review journal entries and account reconciliations on an operating period basis and ensure compliance with established deadlines.

Ensure practices are in place to prepare and maintain schedules and supporting documentation for all leases needed for management, internal and external reporting, internal and external auditors, and SOX requirements.

Perform quarterly reviews/year-end audits with internal, external and regulatory auditors.

Oversee and assist with the implementation of new accounting standards.

Function as subject matter expert during process and technology requirements and design processes.

Perform quarterly store impairment analysis.

Prepare quarterly lease footnote disclosures for SEC reporting.

Ensure team supports testing and assessment of new tools.

Establish best practices for use of tools/technology.

Timely and accurate processing of recurring payments, monthly invoices, and other billings.

Coordinate the application of leasing standards into the processes of the Lease Accounting department to ensure GAAP compliance and implementation of best practices.

QUALIFICATIONS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

In-depth knowledge of ASC 842 Accounting for Leases

Advanced Microsoft Word, Excel, and ERP skills.

Experience with Lease Accounting required.

Experience with CoStar preferred.

Strong analytical, organizational, conflict solving and negotiation skills.

Extraordinary interpersonal skills to work in conjunction with other departments, vendors and internal and external customers.

Must be a team player who also works well independently and also in cross functional team settings.

Must be able to analyze data, draw conclusions, interpret results, and make recommendations with respect to incentive calculations.

Must be able to read, analyze, interpret and comprehend financial reports, and legal documents.

Must be able to communicate effectively in both an oral and written manner in response to common inquiries from customers, regulatory agencies or members of the business community.

Must be able to effectively present information in one-on-one and small group situations to top management, external department heads, customers, clients and other employees.

EDUCATION and/or EXPERIENCE:

Bachelor's degree in accounting, Finance or Business from a four-year college or university required.

Certified Public Accountant license preferred.

Master's degree with a concentration in Accounting or Finance a plus

5-7 years hands-on related experience in accounting for leases or similar tenure auditing lease transactions

In-depth knowledge of ASC 842 Accounting for Leases

2-4 years' experience leading a team.

SUPERVISORY RESPONSIBILITIES:

Serves as the manager of the department. Carries out supervisory responsibilities in accordance with the Company's policies and applicable laws. Responsibilities may include training, planning, assigning/directing work and resolving problems.

CERTIFICATES, LICENSES, REGISTRATIONS

Certified Public Accountant preferred.

WORK ENVIRONMENT:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The noise level in the work environment is usually moderate. On-site work in an open working environment required 3 days per week.

PHYSICAL DEMANDS:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to sit. The employee frequently is required to use hands to finger, handle, or feel; reach with hands and arms; and talk or hear.

The employee is occasionally required to stand, walk; and stoop, kneel, crouch, or crawl. The employee must regularly lift and/or move up to 10 pounds and occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, and ability to adjust focus.

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