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LKQ Corporation · 4 months ago

Global Senior Lease Accountant

8100 Chicago, IL - Corporate Office

Full-time

Hybrid

Senior Level

5+ years exp

LKQ Corporation is looking for motivated individuals to join their team, offering opportunities for growth and a supportive work environment. The Global Senior Lease Accountant will be responsible for the global administration and reporting of lease accounting activities, ensuring compliance with ASC 842 and overseeing lease data integrity.

AutomotiveManufacturingRecycling

Responsibilities

Lead the preparation, coordination, and maintenance of lease documentation to ensure accurate and timely recording of lease schedules in compliance with ASC 842

Oversee the entry and ongoing maintenance of lease data within the lease accounting system, ensuring data integrity and alignment with contractual terms

Apply advanced knowledge of ASC 842 to review and determine appropriate lease classification and accounting treatment, including complex arrangements and modifications

Manage lease-related activities within the monthly, quarterly, and annual financial close processes, including preparation, review, and approval of journal entries

Review and validate lease schedules maintained in the Lease Accounting Application, ensuring consistency with source documentation and accounting standards

Serve as a subject matter expert in reviewing lease agreements and interpreting terms for proper accounting treatment

Perform and review detailed reconciliations of lease-related balance sheet accounts, investigating and resolving discrepancies proactively

Identify, recommend, and lead process improvements and automation opportunities to enhance the efficiency and accuracy of lease accounting operations

Provide guidance and mentorship to junior team members, supporting their development and ensuring adherence to internal controls and accounting policies

Act as a key contact with cross-functional teams (e.g., Real Estate, Fleet and Logistics, Legal, and FP&A) to ensure lease terms are accurately reflected in the accounting system

Monitor and respond to lease-related communications, escalating issues as needed and ensuring timely, documented resolution of inquiries

Prepare and review audit schedules for internal and external audits, serving as a primary point of contact for lease-related audit requests

Stay current on accounting guidance, regulatory changes, and best practices in lease accounting, and assess implications for company policies and procedures

Support strategic initiatives and special projects related to lease accounting, including system upgrades, M&A activity, and policy updates

Assume other duties as assigned

Qualification

ASC 842Lease accountingCPA certificationFinQuery Lease softwareU.S. GAAPProcess improvementMentorshipCross-functional collaboration

Required

Bachelor's Degree in Accounting

5+ years of related experience required; Fully competent professional; In-depth knowledge and experience

Knowledge of U.S. GAAP regulations and procedures as they relate to accounting

Ability to formulate policy and document processes and procedures

Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rates, ratios, and percentages and to draw and interpret graphs

Frequent use of Outlook, Word, Excel, graphics, etc. Ability to create, maintain, and incorporate functions into Word documents, Excel spreadsheets, databases, and PowerPoint presentations to support business objectives

Regularly uses moderately complex oral and written skills. May train others in functional areas, interact with colleagues, and deliver presentations to departmental or middle management

Problems are varied and complex, requiring analysis or interpretation of the situation. Problems are solved using knowledge and skills, general precedents, and practices

Decisions generally affect one's job or the assigned functional area

Results are defined; sets personal goals and determines how to achieve results with few or no guidelines to follow; supervisor/manager provides broad guidance and overall direction

Handle multiple tasks or projects simultaneously with moderate complexity

Work is primarily sedentary: must be able to sit for extended periods and use a computer, keyboard, and mouse, frequently

Travel may be required periodically, including overnight stays (contingent on position requirements)

Must be able to lift up to 25 pounds