Associate, Lease Administration

Description

This role is responsible for all lease administration for the portfolio of retail stores in North America, supporting the Manager Lease Administration & Executive Director. The Associate is the primary point of contact for landlords of assigned locations. Maintain lease information in our lease administration system in compliance with policies and procedures, ensuring adherence with processes, accounting controls, and US GAAP. Support the end-to-end real estate process collaborating with Real Estate, Legal, Finance, Retail Operations, Retail Design Development and Construction, among other teams.

Lease Accounting Processes

• Update and maintain lease data in the company’s lease management tool (IBM Tririga) based on newly executed leases and amendments.
• Prepare documentation of accounting processes for SOX controls, obtain required approvals, and save to company network
• Prepare journal entries from the Tririga system to initially record any new leases or amendments, and the monthly recurring entries for all leases.
• Assist in preparation of annual rent budgets for assigned brands, using sales forecast, projections of variable rent expenses; estimating lease renewal rents; aligning with Real Estate Team and Brands on new locations and store closures, and projecting rent expenses for new stores
• Assist in quarterly financial reporting and disclosures.
• Assist in providing supporting documentation for audits.

General Lease Administration Processes

• Act as the primary point of contact for landlords
• Support the sorting and processing of lease-related mail for action. Prioritize urgent issues such as lease defaults, notices, billing issues, etc., and take appropriate action for each document.
• Responsible for the preparation and distribution of monthly sales reports to required landlords. Will verify calculations of sales data and factoring in valid exclusions per the lease.
• Assist in the portfolio management of the Field Sales Office (FSO) and self-storage locations across North America
• Support with inter-departmental communication between NA Retail Real Estate, NA Retail Operations, planning teams and ELC brands regarding any issues that need to be addressed as per the lease.
• Coordinate with I.T. to resolve any system-related issues as they arise.
• Work on special projects as instructed

Payment Processes

• Assist with the preparation of monthly rent payment batches for review by the Manager.
• Action and coordinate vendor updates (e.g. address) to SAP.
• Update variable payments in the Tririga lease administration system.
• Reconcile landlord rent billing statements vs. payments issued by analyzing the billing and payment history from SAP A/P system and the Tririga Lease Administration system. Ensure any balances are either paid or disputed with landlord.
• Assess validity of charges billed from landlords to ensure they are consistent with the applicable lease.

Qualifications

• Experience in Lease Administration, Real Estate, Accounting, or Finance preferred.
• Experience in a fast-moving consumer products industry.
• System Knowledge and Experience: Tririga or other lease administration software, SAP, Advanced Excel, PowerPoint, M S Office, Ariba.

Key Personal Characteristics:

• Capacity to manage pressure and resist stress.
• Analytical and innovative; seeks out fresh ideas from a variety of sources.
• Excellent eye for detail: precise analysis of figures (analytical and num eric skills). Smoothly handles multiple demands, shifting priorities and rapid change.
• Must be positive, participative, self-confident with a high level of energy, pace & consistency.
• Di splays integrity and builds trust: honors commitments.
• Excellent communicator and negotiation skills; able to inform people at all levels of changes, updates and issues and deal with difficult people.
• Ability to work independently and as part of a team.
• Ability to work with people at all levels (both internal and external) thereby fostering excellent customer relationships.
• Excellent organization, time management and follow-up skills.
• Fast and accurate data entry.
• Di splays pro-activity and persistence.
• Works with others towards shared goals; collaborates and shares i information.
• Can identify potential problems and opportunities both in the short and long term. Results orientated; meets objectives and standards; has a sense of urgency.