What are the responsibilities and job description for the Supervisor, Lease Accounting position at Hibbett Sports?
00015 Store Support CenterLE_301 Hibbett Retail, Inc. Job Title : Supervisor, Lease Accounting
Department : Real Estate
FLSA Status : Exempt
Reports To : Senior Director, Real Estate and Portfolio Management
SUMMARY The Supervisor, Lease Accounting is responsible for overseeing assigned lease accounting staff and associated functions. Trains and mentors the team and ensures effective and efficient communication internally and externally and performance and assists the Manager, Lease Administrator in establishing policies and procedures, ensuring completeness and accuracy of financial records, maintaining an adequate system of internal control to mitigate risks, and ensuring that reported financial results comply with Generally Accepted Accounting Principles (GAAP). Reviews and approves reconciliations and manages activities related to defaults and construction allowance. Performs independent reviews of staff activities and is responsible for reviews and resolutions of unique rent situations such as co-tenancy and / or force majeure .
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Manage assigned lease accounting staff to ensure efficient and effective operations with a strong focus on delivering excellent customer service to internal and external parties.
- Review Common Area Maintenance (CAM), Tax, and Insurance audits performed by direct reports.
- Perform independent quality control reviews of annual occupancy cost reconciliations prepared by the team of Analyst, Lease Accounting and monitor timeliness of reconciliations.
- Work with the Manager, Lease Administrator to establish efficient and effective standardized processes in the reconciliation process and ensure that landlords received organized, accurate, and concise information that summarizes the results of the reconciliation.
- Reconcile differences between landlords' billing and the organization's payments.
- Resolve critical lease related issues including those related to rent payments, lease terms, and other relevant items using professional judgement. Establish and maintain strong and effective working relationships with landlords. Resolve all Defaults recorded from landlords to establish accurate financial reporting.
- Manage and communicate alternative rent conditions, including those related to exclusivity and co-tenancy violations to landlords and other internal departments of the organization.
- Approve and process payments in different lease accounting systems, including processing monthly rent payments, review for accuracy and balances to Accounts Payable interface.
- Monitor tenant and construction allowances, including gathering information, bill landlords, and collecting from landlords.
- Perform independent quality control reviews of landlord contact system updates and abstracted lease documents to ensure completeness and accuracy of data in the lease accounting system. Perform independent quality control reviews of estoppels and participate in lease default resolution.
- Review internal real estate portfolio forms for accuracy and notify managers of any information pertinent to lease renewal and early terminations.
- Prepare certified sales reports for landlords and initiative percentage rent payment.
- Protect the company's assets and financial information by ensuring the accuracy and effectiveness of internal control procedures and informing management and / or appropriate officials of potential fraud risk.
- Perform ad-hoc reporting requested by management from time to time.
- On-Call Duties : On-call for being available for needs of managing the team.
- Measurable Outcomes : Ensure the organization isn't overpaying and confirm costs are consistent and meeting regulatory compliance with what is on the retail store leases in order to help the organization manage a successful, profitable real estate portfolio.
SUPERVISORY RESPONSIBILITIES
QUALIFICATIONS
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