Lease Accounting Specialist
3 weeks ago
Department Accounting
- Location Toronto, ON
- Job ID 114982
- Corporate
- Toronto, ON
- Posted 33 mins ago
YM Inc. was founded on the strength of a single retail store in the heart of downtown Toronto in 1975, under the name Stitches. Today we are one of North America’s leading apparel retailers operating over 700 stores across Canada and the United States under the following banners: Stitches, Urban Planet, Urban Behavior, Sirens, Urban Kids, Suzy Shier, Bluenotes, West 49, Mandee and Charlotte Russe.
Our goal is to sustain performance that exceeds expectations. We are committed to creating a culture where people feel valued and inspired to achieve results. We give our people the appropriate tools, freedom and authority to make decisions. They are accountable for their actions and we recognize their efforts and reward their results. We attract and nurture the best people by providing leadership opportunities, career development and continuous learning. We are committed to leading by example and with integrity. We treat people with respect and dignity, promote the benefits of diversity and address challenges in a direct and compassionate manner. We engage people in our goals and objectives; we listen and act on new ideas where possible. That is our Philosophy.
**Position Overview**:
The Lease Accounting Specialist is responsible for carrying over the lease accounting responsibilities and tasks. This role is responsible for performing financial and administrative functions that ensure efficient and accurate financial and administrative services. This position reports to the VP Lease Administration. In addition, the specialist reviews rent payment schedules and other documentation with the team and to ensure all lease obligations are met.
**Duties and Responsibilities**:
- Manage the accounting documentation and compliance of over 800+ lease agreements
- Review and approve rent rolls used to support rent payments
- Update rent payments according to landlord’s rental notice
- Calculate percentage rents payable and CAP stores refund due
- Reconcile accounts with landlord’s statement for the entities
- Set up TA receivable and follow up for the recoveries for all companies
- Reconcile AR accounts for TA receivable and CAP receivable for all companies
- Prepare Step Rent and Lease Commitment Schedule for the entities at financial year end
- Ensure year-end adjustments are completed for all companies
- Communicate with landlords as required
- Ensure lease accounting transactions are recorded in accordance with ASPE/GAAP and provide support during financial audits
- Compliance with statutory requirements
- Provide backup and support to the VP Lease Administration as required and cover position in his/her absence
- Participating in closing activities and dealing with user teams
**Qualifications**:
- Post-secondary education in a related field
- Minimum 5 years of leasing and accounting experience, preferably in retail
- Experience in conducting financial analysis (GROCs)
- Experience with Lawson an asset
- Knowledge of leasing procedures
- Proficient in Microsoft Office
- Strong negotiation skills
YM Inc. is an equal opportunity employer. If chosen to participate in the selection process, accommodations are available upon request. We will consult with the applicant to provide or arrange suitable accommodation in a manner that takes into account the applicant’s accessibility needs.
Schedule:
- Monday to Friday
Ability to commute/relocate:
- North York, ON: reliably commute or plan to relocate before starting work (required)
**Experience**:
- leasing: 5 years (preferred)
- accounting: 5 years (preferred)
- financial analysis (GROCs): 1 year (preferred)
Work Location: One location
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