Manager, Lease Accounting

Overview

This role leads the end-to-end lease accounting function, including ownership of the monthly close cycle for the full lease portfolio, maintaining compliance with ASC 842, and serving as the primary accounting authority for lease classification, portfolio modifications, and policy development.

The position manages lease transactions through CoStar, coordinates closely with Lease Administration, FP&A, and SEC Reporting teams, and ensures lease accounting processes meet internal control requirements under SOX 404.

Responsibilities

Lease Portfolio Management & Close

• Own the monthly, quarterly, and annual financial close process for the full lease portfolio, ensuring entries are prepared, reviewed, and posted accurately and on time.
• Assess and record new leases, lease amendments, renewals, extensions, and terminations within CoStar in accordance with ASC 842, ensuring proper classification as operating or finance leases.
• Review and approve lease amortization schedules, right-of-use asset and liability balances, and period-end GL reconciliations, including reconciliation of lease accounts to CoStar and clearing accounts.
• Oversee outgoing rent and site host submeter payments, including review for accuracy and approval.
• Identify contract variations and embedded lease provisions that may trigger accounting adjustments under ASC 842; document accounting conclusions in technical memos for significant transactions.
• Assess lease portfolios for impairment triggers and perform or coordinate appropriate impairment analyses, documenting conclusions in accordance with applicable accounting guidance.
• Assess and account for asset retirement obligations (ARO) related to contractual site restoration requirements upon lease expiration or termination.
• Provide balance sheet account movements and supporting analysis to FP&A to support cash flow reporting and budget-to-actual variance analysis of lease expense.

Policy, Controls & Compliance

• Own the development and ongoing maintenance of lease accounting policies; evaluate contracts for embedded lease provisions and consult with SEC Reporting and Technical Accounting on complex arrangements.
• Maintain and update process documentation and SOX 404 controls for the lease accounting function; evaluate existing controls for design effectiveness and drive improvements where gaps are identified.
• Ensure lease transactions are recorded consistently and accurately within established policy; resolve discrepancies and outstanding reconciling items in a timely manner.
• Collaborate with SEC Reporting and Technical Accounting to prepare quarterly and annual lease footnote disclosures for Form 10-Q and 10-K filings.
• Provide complete and organized support documentation for internal and external audit requests related to lease accounting.

Cross-Functional Coordination

• Partner with Lease Administration to set up and maintain lease projects in CoStar, ensuring alignment between administration records and accounting entries.
• Engage with business partners to identify significant leases in the pipeline and material changes to existing leases that require accounting review and timely setup.
• Coordinate with FP&A to analytically review monthly lease expense and assess actuals against budget, providing accounting insight on significant variances.
• Support financial system implementation and enhancement efforts related to lease accounting, including testing new CoStar functionality and ERP integrations.

Process Improvement & Team Development

• Identify opportunities to improve efficiency in lease accounting processes, including automation of recurring activities and better utilization of existing system functionality.
• Develop and document a consistent cadence for recurring monthly close activities.
• Supervise and develop the Senior Accountant supporting lease accounting, providing coaching, quality review, and development feedback regularly.
• Perform other duties and special projects as assigned to support team and organizational objectives.

People Management Responsibilities

• Supervise Accountants assigned to the lease accounting function; provide clear direction on close tasks, quality expectations, and priorities.
• Conduct regular performance check-ins and deliver timely, constructive feedback; identify development needs and support growth opportunities aligned with career goals.
• Create a positive, accountable work environment where expectations are clear and team members feel supported.
• Onboard and orient new team members to lease accounting processes, systems, and internal control requirements.

Requirements

• Typically, 8+ years of progressive accounting experience, including at least 3 years of dedicated lease accounting experience, or equivalent work experience.

Preferred Qualifications

• Bachelor’s degree in Accounting, Finance, or a related field.
• CPA license or active candidacy strongly preferred.
• Experience in a public company environment with direct exposure to SEC reporting and external audit support for lease disclosures.
• Prior experience supervising or developing accounting staff.
• Familiarity with lease accounting process automation and financial system integration projects.
• Equivalent education or training accepted in lieu of a formal degree (e.g., professional certification, advanced coursework in lease accounting or financial close processes, or demonstrated on-the-job learning).
• Expert working knowledge of ASC 842, including lease classification, initial and subsequent measurement, modification accounting, and impairment assessment.
• Experience managing a lease portfolio end-to-end using a lease accounting system (CoStar strongly preferred).
• Strong knowledge of US GAAP and SOX 404 internal control requirements applicable to lease accounting.
• Proficiency in ERP systems (NetSuite preferred) and advanced Microsoft Excel skills.
• Ability to prepare and review technical accounting memos documenting lease-related positions.
• Strong written and verbal communication skills; ability to coordinate effectively with Lease Administration, FP&A, SEC Reporting, and external auditors.
• Occasional travel may be required for team or cross-functional meetings.

Compensation & Benefits

Pay Range

• 110,700 - 138,400 USD per year (US)

Additional Compensation (as applicable)

• Discretionary target cash bonuses
• Restricted stock units (subject to Board approval)

Benefits

• Medical, dental, and vision coverage, plus mental wellbeing support and wellness programs
• 401(k)
• Health Savings Account (HSA) and Flexible Spending Accounts (FSA) for medical and dependent care
• Life and disability insurance
• Uncapped paid time off, enhanced parental leave, and Employee Assistance Program (EAP)
• Access to Health Advocate services for help with claims, provider searches, and care decisions
• Telehealth services for convenient, low-cost access to care
• Mentorship programs and opportunities for career growth and internal mobility
• Monthly tech stipend
• One-time home office setup reimbursement
• Volunteer time off
• Commuter benefits
• Employee-focused programs

Location

United States (US)