Lease Accounting Manager - New York City
- New York, NY
Compass is streamlining the home buying and selling experience by building the single software platform for all real estate activities. Founded in 2012, Compass combines the best technology and personalized service to power all real estate activities in 100+ U.S. cities, all in service of our mission to help everyone find their place in the world.
At Compass, we have nearly 15,000 of the country’s top real estate agents who work with clients to help them buy, sell and rent homes. Compass is a Series G venture-backed company that raised over $1.5 billion in venture funds, and have grown to over 1,800 employees in the last 2 years.
Compass is looking to hire a Lease Accounting Manager to help scale our leasing team as we continue to grow. This is a crucial role that will oversee all aspects of lease-related general accounting operations in a fast paced and evolving environment. This role will be responsible for the month-end close process, preparation of actual to forecast/budget flux analysis, lease-related technical accounting, automating existing processes, internal control execution, as well as identifying and driving project-based work to provide process efficiencies for the leasing team. The candidate should expect to leverage current skill sets while also focusing on learning quickly and adding value to the current processes. This role will report to the Senior Director leading the Leasing Team.
What you will do:
- Manage month-end close process, including preparation of journal entries, accounting reconciliations and preparing financial reporting and flux analyses
- Implement ASC 842; leading to monthly close responsibilities which will further encompass:
- Prepare/update monthly Journal Entries to be compliant with ASC 842
- Prepare monthly Right of Use Asset and Lease Liability reconciliations
- Prepare a rollforward of all applicable accounts to assist in reporting
- Collaborate with business partners to improve existing processes, obtain required financial information, and assist in the formation an execution of internal controls and policies
- Other ad hoc projects
- Forecast and drive lease-related cash flows (rent and other occupancy costs, security deposits, tenant improvement allowances)
- Prepare budget estimates for all occupancy expenses, including preparing assumptions summaries and updating estimates throughout the year
- Perform technical accounting on research and the preparation of accounting memos and business process documentation
- Assist in the preparation and review of disclosures
- Support scaling our processes through automation by working on system implementations and enhancements, including the utilization of Anaplan for the accounting team
- 3-5 years of related experience demonstrating progressive responsibility; public/private accounting experience preferred, experience with ASC 842 is a must
- Bachelor’s degree in Accounting; CPA or parts passed preferred
- Demonstrated ability as a team player, capable of prioritizing and executing projects in a dynamic, fast-paced environment
- A work style open to direction and collaborative; detail oriented with the ability to work in a fast paced, deadline driven environment – extended hours when necessary
- Ability to present complex ideas in a clear, concise fashion to both technical and non-technical partners
- Technical knowledge of GAAP/SEC accounting and reporting requirements
- Strong quantitative and qualitative analytical skills – must have significant experience in Microsoft applications and Visual Lease or a similar type of leasing system; NetSuite experience is a plus
At Compass, our mission is to help everyone find their place in the world. This means we continually celebrate the diverse community of different individuals cultivate. As an equal opportunity employer, we stay true to our mission by ensuring that our place can be anyone’s place.
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