Lease Accounting Manager
Description
About EVgo:
EVgo (Nasdaq: EVGO) is a leader in electric vehicle charging solutions, building and operating the infrastructure and tools needed to expedite the mass adoption of electric vehicles for individual drivers, rideshare and commercial fleets, and businesses. EVgo is one of the nation’s largest public fast charging providers, featuring over 950 fast charging locations across more than 35 states, including stations built through EVgo eXtend™, its white label service offering. EVgo is accelerating transportation electrification through partnerships with automakers, fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, and gas stations, policy leaders, and other organizations. With a rapidly growing network and unique service offerings for drivers and partners including EVgo Optima™, EVgo Inside™, EVgo Rewards™, and Autocharge+, EVgo enables a world-class charging experience where drivers live, work, travel and play.
Position Summary:
The Manager – Lease Accounting provides leadership, management and technical expertise over the Lease Accounting area, ensuring this function adheres to U.S. generally accepted accounting principles (US GAAP). This role is responsible for Lease Accounting’s daily operations and month-end close processes. The Manager – Lease Accounting prioritizes multiple assignments, reviews work prepared by staff, allocates resources and ensures adequate internal controls are in place.
This position will be responsible for the oversight of the process to capture, assess and record new leases, lease amendments, and other lease modifications within Costar, in accordance with US GAAP. This individual will also be responsible for the oversight of the lease process and drive continuous improvement activities with the SEC Reporting and SOX teams for lease accounting and reporting. Additionally, the position will have the opportunity to expand their role to provide a broad range of accounting and finance support to the Accounting team and other key business partners. This position reports to the Senior Accounting Manager and will supervise the Senior GL Accountant.
Responsibilities:
- Lead and own the monthly financial close process for leases.
- Identify contract variations that could impact lease accounting under Financial Accounting Standards Board Accounting Standards Codification 842, Leases (“ASC 842”).
- Manage accounting components of the lease portfolio, such as extensions, amendments, or terminations, through CoStar.
- Work closely with the Lease Administration team to set up and maintain lease projects in CoStar.
- Ensure that lease transactions are recorded accurately, consistently and within company policy.
- Review lease amortization schedules for accuracy and completeness.
- Review and approve key period-end lease reconciliations, including the reconciliation of the lease GL accounts to CoStar and clearing accounts.
- Review and approve lease accounting journal entries.
- Determine the proper handling and ensure timely resolution of discrepancies/outstanding items on account reconciliations.
- Provide balance sheet account movements to support cash flow reporting.
- Analytically review and understand monthly lease expense, working with the Financial Planning & Analysis team to assess actuals against budget.
- Proactively work with business partners to identify significant potential leases in the pipeline and identify significant changes to existing leases
- Identify opportunities to improve efficiency in the current processes and lead enhancements, both manual and automation opportunities, including identifying existing functionalities not being fully utilized
- Work with the current team to develop a consistent cadence for the recurring monthly activities
- Own the development and maintenance of lease policies, as well as evaluation of contracts that may contain leases, including consultation with the SEC Reporting/Technical Accounting team on an as-needed basis. Document accounting conclusions for significant contracts evaluated in accounting memos.
- Assist SEC Reporting/Technical Accounting team in preparing quarterly and annual lease footnote disclosures in Form 10-Q/10-K.
- Provide any audit support required.
- Assess leases for impairment triggers and perform appropriate impairment tests when necessary. Document accounting conclusions in accounting memos.
- Support ongoing implementation and testing efforts related to new and enhancements made to existing financial systems.
- Maintain documentation for lease process to ensure compliance with Sarbanes Oxley 404 requirements and evaluate current processes for improvement. Ensure compliance with the Company’s internal controls over financial reporting.
- Ad hoc projects assigned by senior management including analysis of business operations, proposed accounting treatment of unusual transactions or other accounting and finance related matters.
Qualifications:
- Bachelor’s degree in Accounting, Finance, Economics or a similar field of study.
- 5+ years accounting experience, preferably in a progressive, high growth, and results-oriented environment.
- 3+ years lease accounting experience.
- Experience with supervising other team members with a desire to train and mentor others.
- Certification of Public Accountancy (“CPA”) or equivalent designation highly preferred (but not required).
- Public company experience preferred (but not required).
- Strong knowledge of lease accounting applications (CoStar strongly preferred) and ERP systems experience (Oracle NetSuite proficiency a plus).
- Excellent working knowledge of ASC 842, SOX compliance
- Advanced Excel skills.
- Strong analytical skills and critical thinking.
- Strong written and verbal communication skills.
- Ability to influence people and drive process improvements proactively.
- Ability to prioritize, plan, organize and meet deadlines.
- Detail oriented and capable of adapting quickly in a fast-paced environment, displaying a "roll-up your sleeves" positive attitude.
For job positions in CA, CO and NYC, the estimated salary range for a new hire into this position is $130,000.00 USD to $140,000.00 USD. Actual salary may vary depending on job-related factors, which may include knowledge, skills, experience, and location. In addition to a competitive base salary, discretionary target cash bonus and restricted stock units (subject to Board Approval). EVgo offers a comprehensive benefits package including health, life and disability insurance, unbounded paid time off including parental leave, and a 401(k) plan.
To find out more, or to join the EVgo network, visit www.evgo.com. Connect with EVgo on Facebook and follow us on Twitter. At EVgo, we are committed to creating a more equitable and inclusive workplace where everyone feels welcome. Apply today to join our team and help make a meaningful impact in the fight against climate change. By submitting this form, you acknowledge you are sharing your personal information with EVgo. By proceeding, you consent to EVgo’s Privacy Policy and Privacy Notice for California Residents. More detail regarding personal information we collect, how we use that information, how we share that information, and your rights and choices can be found here.