Sr. Manager Lease Accounting
Company: The Lovesac Company
Posted on: November 16, 2023
Job DetailsRemote Type Fully Remote -Salary Range $100,000.00 -
$135,000.00 Salary/yearDescription Our purpose:
At Lovesac, we are committed to helping people fill their homes
with Total Comfort. That means having furniture that can evolve
along with them as life unfolds.
From Sactionals The World's Most Adaptable Couch, to Sacs The
World's Most Comfortable Seat, Lovesac products provide peace of
mind where others cant. Our products can adapt to fit almost any
space and style and look like new forever. This enables a new way
of living, where people can continue to invest in, add to, and
evolve their furniture instead of adding it to the landfill which
is good for families and our environment.
What We Believe:
Love. It is the name we live up to. We champion building meaningful
relationships as we foster a culture that embraces and celebrates
the experiences, beliefs, backgrounds, expertise, talent, and
individuality of everyone. We purposefully and meaningfully weave
DEI into every aspect of our business. We seek to promote love,
inclusion, and happiness in all that we do. #LoveMatters
We are committed to working and succeeding by incorporating our
Guiding Principles into everything we do:
We can all win together
We do as we say
Do less and do best
We are borrowing this earth from our children
As our Sr Manager of Lease Accounting, you will be responsible for
providing accounting support for the Company's lease portfolio and
will partner closely with the Real Estate and Legal team to account
for leases, lease amendments, rent payments and on-time charges.
The successful candidate will have strong interpersonal skills,
experience managing a team and bring a passionate commitment to
help foster a diverse, inclusive, and collaborative culture that
delivers high impact accounting and business results.
This position is remote and will report into Lovesac Corporate HUB
based in Stamford, CT. Candidates must fully reside in one of the
50 United States and should have the ability for travel as
Summary of Key Job Responsibilities:
- Conducting lease portfolio assessments to identify and classify
leases in accordance with ASC 842.
- Calculating and validating lease liability and right-of-use
asset values using appropriate discount rates and lease
- Collaborating with clients to gather lease data, including
terms, payments, options, and termination clauses.
- Working closely with finance, legal, and operations teams to
ensure accurate lease information and documentation.
- Providing guidance on lease accounting treatments, including
finance lease vs. operating lease classification.
- Prepare lease schedules (e.g., minimum rent, future obligation,
etc.) for company's 10-Q & 10-K disclosures, prepare periodic lease
accounting journal entries on rent payments and expenses, prepaid
rents, deferred rents, tenant incentive accruals, etc. via lease
administration software, and records journal entries to company's
- Supporting clients during audits and regulatory compliance
reviews related to lease accounting.
- Staying up-to-date with changes in lease accounting standards
- Perform any other duties as requested by management.
Qualifications Requirements & Qualifications:
- Bachelor's degree in Accounting or Finance; MBA and/or CPA
- Must have a minimum of 6 years' experience in Lease Accounting
and reconciliations in a retail environment that includes strong
understanding of accounting for leases under the ASC 842 Lease
- Expert Excel skills: VLOOKUP, Macros, Etc.
- Experience working in a Big 4 firm preferred.
- Strong end user of Lucernex experience highly preferred;
experience using NetSuite ERP system preferred.
- Experience leading and managing a team of junior
- Experience working within a high-growth retail environment
preferred, but not required.
- Must have a strong work ethic and enthusiasm for taking on a
wide range of projects and responsibilities.
- Must be proactive, detail oriented, and able to prioritize
while handling multiple tasks.
- Must have exceptional communication and interpersonal skills
and be capable of navigating complex situations professionally and
- Must be able to work collaboratively with cross functional
business partners and in a team environment.
- Must be results driven and utilize knowledge to meet or exceed
KPIs and goals.
- Exemplify each of our Lovesac values, at all times, be results
driven and utilize knowledge to meet or exceed KPIs, goals and
deadlines. Must be able to travel, as required by the Company in
its sole discretion, for meetings and conferences using various
forms of transportation.
- Must comply with all policies and procedures outlined in the
Lovesac Employee Handbook and work collaboratively with fellow
employees, treating all clients, both internal and external with
dignity and respect at all times.
- Our customers have the opportunity to shop with us seven days a
week and select positions may require availability outside of
normal weekday hours.
Lovesac Core Values Top Ambition, Willing to sweep the floors,
Aspirational Values Customer Centricity, Only A Players,
Executional Excellence, Consciousness
Table-Stakes Values Positive, Passionate, Collaborative, Flexible,
Self-starting, Self-aware, Canid, Empathetic, Inclusive, Insatiable
Full Time Benefits*
- Financial Benefits: Annual Bonus Program, Annual and Inaugural
Grant Equity Awards, 401K Matching Contribution, Financial Wellness
Tools, Sales Incentive Program.
- Health and Wellness Benefits: Medical, Dental, Vision, Health
Savings and Flexible Spending Accounts, Paid Parental Leave,
Life/AD&D, Short Term and Long-Term Disability, Critical
Illness and Accident Insurance, Employee Assistance
- Paid Time Off: Up to 120 hours of paid time off within our
fiscal calendar year, prorated from date of hire, 8 paid company
recognized holidays, Summer Flex Time.
- Pet Insurance and generous Associate Discounts.
*Eligibility and terms for all benefits listed are as outlined in
Lovesac's policy and plan documents.
Associate pay will vary based on factors such as qualifications,
experience, skill level and competencies.
Lovesac is an Equal Opportunity employer and considers all
applicants for employment without regard to race, color, religious
creed, ancestry, religion, sex, sexual orientation, gender identity
and/or expression, pregnancy, age, national origin, marital status,
disability, military status, genetic information or any other
characteristic protected by applicable law.
Disclaimer: The above statements describe the general nature and
level of work being performed by individuals employed in this
position. This job description is not intended to be an exhaustive
list of all duties and responsibilities required in this position.
The job may change as the business changes or customer need changes
or may vary somewhat from location to location. Management retains
the right, authority and discretion to add or change the duties of
the position at any time. Associates must learn and observe
applicable company policies and safe practices, as well as perform
all duties assigned by supervisors. This job description does not
constitute an employment contract.
To the extent an employee requires a reasonable accommodation in
order to perform the duties of this job, please direct such
requests to The Lovesac People Department.
Keywords: The Lovesac Company, Stamford , Sr. Manager Lease Accounting, Executive , Stamford, Connecticut
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