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Fixed Asset and Lease Accounting Manager

Description

The Fixed Asset and Lease Accounting Manager is accountable for day-to-day oversight of the company’s fixed asset and lease accounting, management, reporting and related internal control functions.

Responsibilities include but are not limited to:

  • Fixed Asset Responsibilities:
    • Maintain fixed asset system and software policies and procedures.
    • Partner with the ISD, Legal and Vendor Management Departments to ensure clouding computing software arrangements are accounted for properly.
    • Train accounting staff on fixed asset policies and software systems.
    • Assist Tax Director in the preparation of federal and state income tax returns, including fixed asset roll forwards and book to tax fixed asset adjustments per system record.
    • Maintain relationship with the fixed asset software vendor, Sage, and act as the system administrator.
    • Ensure fixed asset acquisitions, transfers and dispositions are recorded properly in the system.
    • Maintain all construction in-process accounts.
    • Review and reconcile depreciation on a monthly basis.
    • Analyze long-lived assets quarterly for indicators of impairment and perform impairment analysis, if necessary.
    • Perform sale and disposal analysis of certain fixed assets when requested by management.
    • Monitor both expense and in-process GL accounts primarily for the ISD and Property Management Department to ensure fixed assets and software expenses are capitalized or expensed properly.
    • Track company expenditures for fixed assets in comparison to the budget.
    • Prepare audit schedules for fixed assets and assist both internal and external auditors.
  • Lease Responsibilities:
    • Maintain lease accounting policies and procedures.
    • Identify and evaluate all existing leases under the new standard, including researching and understanding the technical accounting guidance and applying it to all leases.
    • Review and approve all leases (new, renewals and extensions) from an accounting perspective including evaluation of the cost components of the lease (e.g. which costs should be included in calculation of the lease liability), rights associated with the lease (e.g., renewal, extension, option to purchase terms), and account coding for the general ledger.
    • Partner with lease owners, primarily Property Management, on middle-of-term and end-of-term decisions to ensure proper accounting and reporting, including documenting the decisions.
    • Partner with lease owners to ensure leases that have variable rent components are accounted for accurately and timely.
    • Monitor GL activity for identification of leases initiated outside of the defined system/processes.
    • Provide timely and accurate reporting of lease accounting transactions and balances for quarterly and annual SEC filings.
  • General Responsibilities:
    • Assist in annual budget and capital expenditure planning process.
    • Perform ad-hoc financial analyses as needed to support branch studies, buy vs. lease decision-making, capital planning, and other Treasury needs.

Required Skills:

  • Experience with Sage Fixed Asset software, or a similar fixed asset system.
  • Ability to work in a fast-paced, deadline driven environment that requires the management of multiple projects at one time.
  • Experience with researching and documenting technical accounting matters.
  • Experience with Excel, Sub-ledger and GL systems, FIS (Miser) and/or SAP/BPC systems a plus.
  • Strong knowledge of GAAP, specifically fixed asset and lease accounting.
  • Good working knowledge and understanding of accounting processes and required internal control and procedural documentation.
  • Effective communicator (both verbal and written); enjoys interacting and collaborating with team members and business partners.
  • Detail-oriented with an ability to critically analyze financial data and prepare financial reports.
  • Ability to create efficiencies or solutions for existing or unexpected situations.
  • Resolve complex issues in an effective manner.

Requirements

Required Experience:

  • Bachelor's Degree in Accounting, Finance, or related discipline and a minimum of five (5) years of work related experience, including fixed asset accounting or public accounting experience.
  • Experience in leading cross-functional teams or projects, and prior lease accounting experience preferred.
  • CPA and/or public accounting experience preferred.

Job Snapshot

Location US-NJ-Wayne
Employment Type Full-Time
Pay Type Year
Pay Rate N/A
Store Type Banking, Finance
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Company Overview

Valley National Bank

Your future deserves a solid foundation. Valley National Bank is a regional bank with over 200 branches throughout northern and central New Jersey, Manhattan, Brooklyn, Queens and Long Island. Valley has a history of stability and commitment within the communities they serve. If you are interested in a bright future with a competitive salary and comprehensive benefits package at an institution with a solid track record - apply today at Valley National Bank! Learn More

Contact Information

US-NJ-Wayne
Snapshot
Valley National Bank
Company:
US-NJ-Wayne
Location:
Full-Time
Employment Type:
Year
Pay Type:
N/A
Pay Rate:
Banking, Finance
Store Type:

Description

The Fixed Asset and Lease Accounting Manager is accountable for day-to-day oversight of the company’s fixed asset and lease accounting, management, reporting and related internal control functions.

Responsibilities include but are not limited to:

  • Fixed Asset Responsibilities:
    • Maintain fixed asset system and software policies and procedures.
    • Partner with the ISD, Legal and Vendor Management Departments to ensure clouding computing software arrangements are accounted for properly.
    • Train accounting staff on fixed asset policies and software systems.
    • Assist Tax Director in the preparation of federal and state income tax returns, including fixed asset roll forwards and book to tax fixed asset adjustments per system record.
    • Maintain relationship with the fixed asset software vendor, Sage, and act as the system administrator.
    • Ensure fixed asset acquisitions, transfers and dispositions are recorded properly in the system.
    • Maintain all construction in-process accounts.
    • Review and reconcile depreciation on a monthly basis.
    • Analyze long-lived assets quarterly for indicators of impairment and perform impairment analysis, if necessary.
    • Perform sale and disposal analysis of certain fixed assets when requested by management.
    • Monitor both expense and in-process GL accounts primarily for the ISD and Property Management Department to ensure fixed assets and software expenses are capitalized or expensed properly.
    • Track company expenditures for fixed assets in comparison to the budget.
    • Prepare audit schedules for fixed assets and assist both internal and external auditors.
  • Lease Responsibilities:
    • Maintain lease accounting policies and procedures.
    • Identify and evaluate all existing leases under the new standard, including researching and understanding the technical accounting guidance and applying it to all leases.
    • Review and approve all leases (new, renewals and extensions) from an accounting perspective including evaluation of the cost components of the lease (e.g. which costs should be included in calculation of the lease liability), rights associated with the lease (e.g., renewal, extension, option to purchase terms), and account coding for the general ledger.
    • Partner with lease owners, primarily Property Management, on middle-of-term and end-of-term decisions to ensure proper accounting and reporting, including documenting the decisions.
    • Partner with lease owners to ensure leases that have variable rent components are accounted for accurately and timely.
    • Monitor GL activity for identification of leases initiated outside of the defined system/processes.
    • Provide timely and accurate reporting of lease accounting transactions and balances for quarterly and annual SEC filings.
  • General Responsibilities:
    • Assist in annual budget and capital expenditure planning process.
    • Perform ad-hoc financial analyses as needed to support branch studies, buy vs. lease decision-making, capital planning, and other Treasury needs.

Required Skills:

  • Experience with Sage Fixed Asset software, or a similar fixed asset system.
  • Ability to work in a fast-paced, deadline driven environment that requires the management of multiple projects at one time.
  • Experience with researching and documenting technical accounting matters.
  • Experience with Excel, Sub-ledger and GL systems, FIS (Miser) and/or SAP/BPC systems a plus.
  • Strong knowledge of GAAP, specifically fixed asset and lease accounting.
  • Good working knowledge and understanding of accounting processes and required internal control and procedural documentation.
  • Effective communicator (both verbal and written); enjoys interacting and collaborating with team members and business partners.
  • Detail-oriented with an ability to critically analyze financial data and prepare financial reports.
  • Ability to create efficiencies or solutions for existing or unexpected situations.
  • Resolve complex issues in an effective manner.

Requirements

Required Experience:

  • Bachelor's Degree in Accounting, Finance, or related discipline and a minimum of five (5) years of work related experience, including fixed asset accounting or public accounting experience.
  • Experience in leading cross-functional teams or projects, and prior lease accounting experience preferred.
  • CPA and/or public accounting experience preferred.
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Fixed Asset and Lease Accounting Manager Apply now