The client is seeking a senior Lease Accounting Functional Consultant with deep expertise in ASC842 ROU accounting, lease valuation, and endtoend lease administration. The consultant will configure and deploy the chosen lease platform (SAP REFX or Oracle/PeopleSoft RE) for a diverse portfolio of commercial office and residential leases.
The lease inventory, business requirements, and accounting rules are already prepared. The consultant will focus on execution, configuration, accounting validation, documentation, and deployment.
Location: Jersey City, NJ Work Model: Hybrid (3 days onsite per week)
Contract Duration: 1 year+
Industry: Wealth Management / Investment Firm
Portfolio: Multiple office + residential leases across the US
Note: Client is evaluating SAP REFX vs. Oracle/PeopleSoft Lease Administration. Consultant must be able to work in either platform or guide the client through the selection.
Key Responsibilities
Lease Administration & Configuration
- Configure lease master data, contract terms, payment schedules, escalations, CPI/indexation, renewal rules, and termination workflows.
- Support commercial office leases, residential/multiunit leases, and corporate realestate leases.
- Ensure correct handling of:
- Security deposits
- CAM/operating expenses
- Tax allocations
- Multiunit rent structures
ROU Accounting & ASC842 Compliance
- Configure and validate:
- ROU asset creation
- Lease liability calculation
- Discount rate handling
- Amortization schedules
- Interest expense
- Depreciation (via AA/AM modules)
- Remeasurement and modification events
- Ensure full compliance with ASC842 (US GAAP).
- Validate accounting entries across multiple books (IFRS16 optional).
Financial Integration
- Map lease accounting entries to corporate GL structures.
- Support integration with:
- FI / GL
- AP / AR
- Asset Accounting (FIAA or AM)
- CO / Project Costing
- Work closely with Finance, Tax, Legal, and Real Estate teams.
Testing, Documentation & Deployment
- Lead SIT, UAT, accounting validation, and defect resolution.
- Prepare functional documentation, configuration guides, valuation rules, and training materials.
- Support golive, production stabilization, and optimization.
CrossFunctional & Technical Coordination
- Collaborate with technical teams (ABAP/BASIS or Oracle technical teams) for enhancements and interfaces.
- Support data migration from legacy systems (including PeopleSoft inventory).
- Provide guidance on platform selection (SAP REFX vs Oracle RE) based on accounting needs.
Required Skills & Experience
- 6+ years experience in lease administration and lease accounting systems (SAP REFX or Oracle/PeopleSoft RE).
- Strong functional expertise in ASC842 ROU accounting.
- Deep understanding of:
- ROU asset calculations
- Lease liability amortization
- Discount rate handling
- Lease modifications & remeasurements
- Multibook accounting
- Experience with commercial + residential lease portfolios.
- Strong background in FI/GL/AP/AR/AA/CO integration.
- Excellent documentation and communication skills.
- Ability to work with finance, accounting, and crossfunctional stakeholders.
Preferred Qualifications
- Experience with both SAP REFX and Oracle/PeopleSoft Lease Administration.
- Experience with global lease portfolios (US, EU, Japan).
- Prior consulting experience with SAP or Oracle partner firms.
Deliverables
- Fully configured lease accounting solution (SAP REFX or Oracle RE).
- Accounting validation for ROU asset + lease liability under ASC842.
- Functional documentation and configuration guides.
- UAT scripts, training materials, and deployment support.
- Postgolive stabilization and optimization.
We are an Equal Opportunity Employer
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