Director, Global Capital Lease Accounting - The Estee Lauder Companies (Melville, NY)

Title: Director, Global Capital Lease Accounting Location: Americas-United States-New York Job Number:_121628 POSITION SUMMARY: Director - Global Capital Lease Accounting is responsible for developing, monitoring and enforcing policies, practices and procedures related to capital lease accounting in accordance with US GAAP. This new position is required to assume worldwide responsibility related to a new and changing area of capital lease accounting. This is an area that is set to increase in complexity. The Director would be tasked with setting direction related to the adoption of new accounting guidance (summary provided below) and working directly with external consultants who will be retained for the larger IFRS/convergance project. The Director would work with the ED to determine, document, provide education and support on new company policies, procedures and required reporting. The Director would be tasked with acting as a subject matter expert on related systems development and working with external consultants to achieve these objectives. The ED would be supported by a director dedicated to capital lease accounting. IFRS Detail Explanation: The current method of lease accounting is slated to take a dramatic shift. Currently, most of the Company''s leases are classified as operating leases. Under the required adoption of new standards, all leases globally will be treated as capital leases. This requires all office space, retail space, leased autos, leased office equipment, etc. to be captured and tracked as a fixed asset and corresponding liablity. With these invasive and wholesale changes to Generally Accepted Accouting Principles, there is a requirement to provide a more centralized structure to lease accounting under the leadership of an ED. As described, lease accounting is an area of impending significant change which will impact every business unit and function in the organization and dramatically change the balance sheet and P&L. Every item acquired under a leased arrangement will need to be included in the fixed asset subledger, tracked to the related liability, and monitored for disposal and impairment. This position will lead the change related to systems development, process development, change management and ongoing monitoring regrading application. This position will be responsible fo the transformation of our current leasing policies and practices with the adoption of new Generally Accepted Accounitng Principles (GAAP). Currently, this activity and the related accounting is decentralized. This is a significant undertaking to develop, migrate and track all existing and new lease activity in accordance with GAAP. KEY RESPONSIBILITIES: Develop, monitor and enforce Global polices, practices and procedures related to all aspects of capital lease accounting. Responsible for understanding the requirements of US GAAP, including the issuance of new standards, and the impact on policies related to capital lease accounting. Implementation of new lease accounting standard including understanding the impact on the company''s balance sheet and P&L providing insight at all levels of management. Direct, monitor and analyze the balance sheet positions related to capital lease assets and liabilities, creating appropriate relationships and providing direction and support to all business users. Interact directly with the user community to collect and document the current lease landscape and to establish a data repository for centralized review and analysis. Continuous maintenance and monitoring of data repository will be necessary Develop training and education programs and provide continuous training and education to ensure that those involved in structuring and facilitating lease arrangements understand the current and proposed capital lease model. Subject matter expert related to the systems requirements to facilitate proper global capital lease accounting, including the development of or enhancements to current transactional and reporting systems. Quarterly reassessment, re-measurement and impairment of all global leases, including the documentation of assumptions, monitoring and evaluating estimates, and changes in facts and circumstances used for capital leases. Provide direction and guidance globally during the capital planning process related to the impact of anticipating new lease arrangements and changes in assumptions regarding existing capital leases . Qualifications: Degree in Accounting or Finance??????? 8 plus years of Accounting/Finance related experience Knowledge of SEC reporting requirements Strong technical (GAAP) and analytical skills, including the ability to implement complex technical accounting requirements Ability to work independently and self direct to achieve objectives Strong writing and communication skills Able to interact and communicate effectively with all levels of Management and External Audit Staff Strong Inter-Personal skills Prior experience as business subject matter expert for systems development a plus Travel will be required as needed (estimate of 10%-20%)??? EEO We are an equal opportunity employer. Brand: Este Lauder Companies Corporate Departments

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