SAP Lease Accounting

Our direct client is seeking an SAP Lease Accounting Consultant for a 6 month project. The description of the role is as follows:

This role is critical in ensuring compliance with the latest accounting regulations, including IFRS 16 and ASC 842, while optimizing lease administration processes for efficiency and accuracy. The successful candidate will work collaboratively with finance, accounting, and real estate departments to ensure seamless integration and reporting.

Key Responsibilities:

• System Configuration and Maintenance: Configure and maintain SAP S/4HANA CLM and RE-FX modules to accurately reflect the terms and conditions of lease agreements. This includes setting up lease contracts, valuation parameters, and posting rules.

• Lease Accounting and Compliance: Ensure all lease accounting activities are compliant with IFRS 16 and ASC 842 standards. This involves managing lease valuations, right-of-use asset and lease liability calculations, and generating required financial postings and reports.

• Business Process Improvement: Analyze existing lease administration and accounting processes to identify opportunities for automation and improvement within the SAP system.

• User Support and Training: Provide ongoing support to end-users in the finance and real estate teams. Develop and deliver training materials to ensure the effective use of the SAP Lease Management solution.

• Integration Management: Oversee the integration of SAP Lease Management with other SAP modules, such as Financial Accounting (FI), Controlling (CO), and Asset Accounting (AA), to ensure data consistency and accuracy across the enterprise.
• Reporting and Analysis: Develop and generate reports to provide insights into the company's lease portfolio, including lease commitments, expenses, and other key metrics.
• Master Data Management: Maintain the integrity of lease-related master data within the SAP system.

Required Skills and Qualifications:

• Technical Expertise: Proven hands-on experience with SAP S/4HANA Contract and Lease Management (CLM) and/or SAP Flexible Real Estate Management (RE-FX).
• Lease Accounting Knowledge: In-depth understanding of lease accounting standards, specifically IFRS 16 and ASC 842.

• SAP Integration: Strong knowledge of the integration points between SAP Lease Management and other core SAP FICO modules.

• Analytical and Problem-Solving Skills: Demonstrated ability to analyze complex business requirements and translate them into effective SAP solutions.

• Typically requires 3-5 years of experience in SAP FICO with a focus on RE-FX or CLM. Experience with at least one full-cycle implementation is highly desirable.