What are the responsibilities and job description for the Director of Fixed Assets and Leases position at Confidential Jobs?
Director of Fixed Assets and Leases
Position Overview
Responsible for leading the fixed asset and lease accounting functions while ensuring compliance with GAAP, including ASC 842 lease accounting standards. This role oversees the coordination of capital expenditure processes through AFE (Authorization for Expenditure) management.
Key Responsibilities
Fixed Asset Management
Direct the accounting and reporting of all fixed assets, ensuring accurate capitalization, depreciation, and disposal
Oversee monthly close processes related to fixed assets, including journal entries, reconciliations, and reporting
Maintain fixed asset subledger and ensure integration with general ledger
Lead physical inventory processes and asset verification programs
Monitor construction in progress (CIP) and manage timely asset capitalizations
Lease Administration
Oversee lease accounting operations and compliance with ASC 842 standards
Manage lease portfolio including real estate, equipment, and other leased assets
Review and approve lease classifications, modifications, and terminations
Ensure accurate lease payment processing and liability calculations
Coordinate with Real Estate and Operations teams on lease matters
AFE Coordination
Develop and maintain AFE policies and procedures
Review and validate capital expenditure requests
Coordinate AFE approval process across multiple stakeholders
Track project spending against approved AFEs
Provide regular reporting on capital spending and project status
Ensure proper capitalization of completed projects
Leadership & Analysis
Manage and develop fixed asset accounting team, including with offshore support
Provide analysis of capital spending and asset utilization
Collaborate with external auditors during annual audits
Develop and maintain documentation of processes and controls
Identify and implement process improvements and automation opportunities
Qualifications
Required
Bachelor's degree in Accounting or Finance
10 years of accounting experience with 5 years in fixed asset accounting
Strong knowledge of US GAAP and lease accounting standards
ASC 842 experience
Experience with ERP systems and fixed asset software
Advanced Excel skills
Preferred
CPA certification
Master's degree in Accounting or related field
Background in manufacturing or retail industries
Project management experience
Skills & Competencies
Strong analytical and problem-solving abilities
Excellent communication and interpersonal skills
Detail-oriented with strong organizational capabilities
Ability to manage multiple priorities and meet deadlines
Leadership and team development experience
Process improvement mindset
