Manager Lease Accounting at Lowe's

Innovate in Bengaluru

This position is based at our on-site office in Bengaluru. Lowe's offers an ultramodern work environment, complete with cutting-edge technology, collaborative workspaces, an on-site gym and clinic, and other perks to enhance your work experience.

About Lowe’s

Lowe’s is a FORTUNE® 100 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2024 sales of more than $83 billion, Lowe’s operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe’s supports the communities it serves through programs focused on creating safe, affordable housing, improving community spaces, helping to develop the next generation of skilled trade experts and providing disaster relief to communities in need. For more information, visit Lowes.com.

Lowe’s India, the Global Capability Center of Lowe’s Companies Inc., is a hub for driving our technology, business, analytics, and shared services strategy. Based in Bengaluru with over 4,500 associates, it powers innovations across omnichannel retail, AI/ML, enterprise architecture, supply chain, and customer experience. From supporting and launching homegrown solutions to fostering innovation through its Catalyze platform, Lowe’s India plays a pivotal role in transforming home improvement retail while upholding strong commitment to social impact and sustainability. For more information, visit Lowes India

About the Team:

The Capital Asset Accounting team is responsible for the accurate and timely recording and reporting of capital asset transactions for compliance with U.S. Generally Accepted Accounting Principles (GAAP) and consistent application of company policy and system control procedures. Capital asset transactions include systematic processing and recording of asset additions, retirements, adjustments, and depreciation within asset records. The Capital Asset Accounting team works closely with various business areas responsible for capital asset purchases (i.e. Retail Facilities & Operations, Supply Chain, Corporate Facilities, Technology, Merchandising, Delivery Services, etc.) as well as other areas of Accounting/Finance (i.e. Tax, External Reporting, Accounting & Consolidations, FP&A, Corporate Finance, Retail Finance, Supply Chain Finance, etc.).

Job Summary:

Executing direction from leadership, delivering results that align with strategic objectives, communicating critical information to other teams, managing vendor relationships, developing processes that align to organizational goals, specific technical skills required for managing a process.

The Accounting Manager position within Capital Asset Accounting is responsible for the accurate and timely recording and reporting of capital asset transactions for compliance with U.S. Generally Accepted Accounting Principles (GAAP) and consistent application of company policy and system control procedures. This management position includes on-going planning and oversight to execute best practice procedures for systematic processing and recording of asset additions, retirements, adjustments, and depreciation for over 700,000 asset records. This management position includes on-going planning and managing the execution of the accounting processes for review of project expenditure accounting (multiple work streams), fixed asset creation with appropriate useful lives, and monthly reporting of capital assets by major category.

The manager supervises a diversely-talented team and performs detailed reviews of data analysis, journal entries, reporting, account reconciliations, and asset change forms (i.e., retirements and other adjustments to asset attributes). In addition to the preparation of journal entries and reconciliations, team responsibilities include capital project reviews and approvals, project-related expense analysis, data analysis for proper coding and capital versus expense accounting treatment, creation of all new asset records and adjustments to asset records within fixed asset systems, recording asset retirements and transfers, support of fixed asset physical inventories, closing spend authorizations upon project completion, and managing departmental mailboxes. This manager will initiate and lead meetings involving other functional areas of the company (i.e., tax, finance, real estate, supply chain, corporate facilities, retail facilities, merchandising, etc.) to gather critical information for evaluation of transactions and issues which may result in developing and implementing solutions and improvements for business process requirements and efficiencies. This role will be responsible for overseeing all capital transactions for US and Canadian operations.

Roles & Responsibilities: Core Responsibilities:

• Manage the capital asset team members in India.
• Manage capital asset transactions for US operations.
• Partner with finance and various areas of the business to ensure proper capital and expense recognition.
• Maintain the company’s capitalization policy and provide input to the project governance policy, as needed.
• Review and monitor capital asset transactions to ensure accuracy of financial data.
• Partner with the impacted groups to identify and implement new or modified processes and develop the practical application of guidance requiring subjective evaluations or conventions due to the volume of transactions or system limitations.
• Serve as a general subject matter expert when questions arise regarding the proper accounting treatment for capital and/or project related transaction.
• Pursues professional growth and provides developmental opportunities for others by soliciting and acting on performance feedback; building collaborative, cross-functional relationships; hiring, training, and developing talent for growth opportunities; delegating tasks and decisions; fostering open dialogue amongst team members; working closely with employees to set goals and provide open feedback and coaching to drive performance improvement Manages designated work stream to meet customer and business needs by translating business plans into tactical action items; communicating goals and objectives; overseeing work assignments; aligning team efforts; building accountability for and measuring progress in achieving results; identifying and addressing improvement opportunities; assuming responsibility for decision making
• Review and ensure accuracy of monthly Property, Plant & Equipment reporting, account reconciliations, cash flow inputs, and various fixed asset related reporting.
• Provide and/or review monthly variance commentary for property, plant & equipment lines along with depreciation and gain/loss.
• Prepare and/or assist with the annual depreciation and gain/loss plans as well as preparation of quarterly forecasting of these lines.

Years of Experience:

• Bachelor’s degree in accounting with 10 to 14 years of Experience.

Education Qualification & Certifications Required Minimum Qualifications:

• Bachelor's degree
• CA/CPA

Skill Set Required Primary Skills (must have)

• Advanced GAAP concepts and financial controls (to apply this knowledge to the design and execution of activities within the respective area)
• Experience working in Fixed Assets (Asset creation, retirement, Depreciation, Project costing etc)
• Reconciliation and Reporting.
• Analytical skillset.
• Expertise in Excel.
• People Management.
• Transition experience.
• Retail industry/Worked in Big 4 would be added advantage.
• Focus on Productivity and efficiency.
• Stakeholder Management.

Secondary Skills (desired)

• Experience with People Soft ERP system
• Experience with Oracle Cloud.

Lowe's is an equal opportunity employer and administers all personnel practices without regard to race, color, religious creed, sex, gender, age, ancestry, national origin, mental or physical disability or medical condition, sexual orientation, gender identity or expression, marital status, military or veteran status, genetic information, or any other category protected under federal, state, or local law.