Business Area: Plan to Report

Job Summary:

Works with the worldwide project team to set up new processes in line with the requirements of the new lease guidance (US-GAAP and IFRS) and implement the new system designed for maintaining and accounting for lease contracts (lessee side). 

Key Roles and Responsibilities:

  • Active participation with the project team in identifying all accounting implications of the project and appropriately addressing the issues.
  • Monthly Ninestar reporting as well as preparation of the OL figures on monthly basis. 
  • Following the completion of the Lease project, perform business as usual activities from the point of the lessee as follows:
    • Review of contracts to identify embedded leases.
    • Obtain good understanding of complex deals and non-standard contracts from business point of view to assess the accounting implications.
    • From the accounting perspective, evaluate and document significant assessments made on certain elements of the contracts, that suggest the existence of lease (such as renewal & purchase options…etc.), and on the lease classification.
    • Monitor for significant events or changes that trigger re-measurement of the lease liability.
    • Monitor operating leases and sub-leases for determining accounting implications as well as making impairment considerations.
    • Determine accruals of back-end and annual variable lease payments that are probable.
    • Supervise data input in the lease software.
    • Gather and review the monthly output data from the lease software, review the corresponding journal entries uploaded in SAP.
    • Maintain and improve internal templates, processes and procedures.
    • Review account reconciliations for leases.
    • Execute key financial reporting controls introduced as part of the implementation of the new procedures and system in relation lease accounting.
    • Support internal and external audit.
    • Proactively take part in process improvements, accounting and lease related projects.
    • Provide ongoing support to the Lease Accounting Specialist by reviewing his/her work and provide coaching, as necessary.

Competencies, Skills, Knowledge and Abilities:

  • Advanced knowledge in MS Excel.
  • Outstanding analytical skills.
  • High synthesis skills, ability to document process effectively.
  • Ability to understand accounting process flows.
  • Flexibility and ability to work on tight deadlines.
  • Effective English communication skills.
  • SAP experience is an advantage.
  • Attention to details is a must.

Education, Experience and Certifications Basic Requirements:

  • BS degree in Accounting, Economics or Finance. Master’s degree in Accounting or Business Administration a plus.
  • 6-10 years of Accounting and/or Finance experience.
  • Significant working experience in a multi-national company.
  • Knowledge and practical experience in lease accounting under US GAAP and/or IFRS.
  • External audit experience is an advantage.

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