Lease Accounting Manager

UL Solutions; Chicago (IL); Hybrid; USD 110,000 - 135,000; Full time

Benefits offered by this job

Health benefits

401K retirement plan

Paid time off

Job summary

UL Solutions in Northbrook, IL seeks a Lease Accounting Manager to lead the global lease accounting function, ensuring ASC 842 compliance and alignment with US GAAP and internal controls. The role partners with Real Estate, Legal, Procurement, FP&A, and regional finance teams worldwide.

The position oversees ROUs, lease liabilities, and related reporting, while driving process improvements and strong SOX governance. It is a full-time, hybrid role based in Northbrook, IL.

Qualifications

• Bachelor's degree in Accounting or Finance required.
• CPA designation required.
• 7+ years of progressive accounting experience.
• 3+ years of direct lease accounting experience under ASC 842.
• Strong knowledge of US GAAP, financial reporting, and internal controls.
• Experience with ERP systems, preferably Oracle.
• Experience with lease accounting software platforms.
• Demonstrated leadership, communication, project management, and stakeholder management skills.
• Public company experience.
• Global accounting experience.
• Experience supporting SOX compliance and external audits.
• Experience leading process improvement initiatives.

Responsibilities

• Lead the global lease accounting function and ensure compliance with ASC 842 and Company policies.
• Review and approve accounting treatment for new leases, lease modifications, renewals, extensions, terminations, and reassessments.
• Maintain oversight of lease accounting systems, data integrity, and governance processes.
• Develop and maintain lease accounting policies, procedures, and training materials.
• Lead monthly, quarterly, and annual lease accounting close activities.
• Oversee accounting for right-of-use (ROU) assets, lease liabilities, asset retirement obligations (AROs), and lease-related expenses.
• Review journal entries, reconciliations, rollforwards, and supporting schedules to ensure accuracy and completeness.
• Support external financial reporting requirements, including SEC disclosures and lease-related footnotes.
• Serve as the primary accounting advisor to Real Estate, Facilities, Procurement, Legal, and regional finance teams.
• Review contracts and advise on lease accounting implications.
• Lead the evaluation and resolution of complex lease accounting matters and technical accounting issues.
• Ensure compliance with SOX controls, internal policies, and regulatory requirements.
• Coordinate and support internal and external audits related to lease accounting.
• Identify opportunities to streamline processes, automate workflows, and enhance reporting capabilities.
• Drive continuous improvement initiatives to strengthen efficiency, scalability, and control effectiveness.
• Lead, develop, and mentor lease accounting professionals.
• Serve as the primary escalation point for lease accounting matters.

Skills

Leadership

Communication

Project management

Stakeholder management

SOX compliance

Education

Bachelor's degree in Accounting or Finance

CPA designation

Tools

Oracle ERP

Lease accounting software

Job description

Lease Accounting Manager

Northbrook, IL, United States

Job Description

The Lease Accounting Manager is responsible for leading the Company's global lease accounting function and ensuring compliance with ASC 842, US GAAP, and Company accounting policies. This role serves as the primary subject matter expert for lease accounting and partners closely with Real Estate, Legal, Procurement, FP&A, Technical Accounting, and regional finance teams globally.

The position oversees the accounting, reporting, governance, and control environment for the Company's global lease portfolio, including real estate and equipment leases across more than 100+ legal entities. Responsibilities include managing lease accounting operations, supporting financial reporting and audits, driving process improvements, and maintaining strong internal controls. This role reports to the Senior Manager, Fixed Assets & Lease Accounting and is a key leader within the Fixed Assets and Lease Accounting Center of Excellence in the Chief Accounting Officer's organization.

This is a full-time, hybrid (3 days a week on-site) at Northbrook, IL.

Responsibilities

Global Lease Accounting & Governance

• Lead the global lease accounting function and ensure compliance with ASC 842 and Company policies.
• Review and approve accounting treatment for new leases, lease modifications, renewals, extensions, terminations, and reassessments.
• Maintain oversight of lease accounting systems, data integrity, and governance processes.
• Develop and maintain lease accounting policies, procedures, and training materials.

Financial Reporting & Close

• Lead monthly, quarterly, and annual lease accounting close activities.
• Oversee accounting for right-of-use (ROU) assets, lease liabilities, asset retirement obligations (AROs), and lease-related expenses.
• Review journal entries, reconciliations, rollforwards, and supporting schedules to ensure accuracy and completeness.
• Support external financial reporting requirements, including SEC disclosures and lease-related footnotes.

Business Partnership & Technical Accounting

• Serve as the primary accounting advisor to Real Estate, Facilities, Procurement, Legal, and regional finance teams.
• Review contracts and advise on lease accounting implications.
• Lead the evaluation and resolution of complex lease accounting matters and technical accounting issues.

Compliance, Audit & Continuous Improvement

• Ensure compliance with SOX controls, internal policies, and regulatory requirements.
• Coordinate and support internal and external audits related to lease accounting.
• Identify opportunities to streamline processes, automate workflows, and enhance reporting capabilities.
• Drive continuous improvement initiatives to strengthen efficiency, scalability, and control effectiveness.

Leadership

• Lead, develop, and mentor lease accounting professionals.
• Serve as the primary escalation point for lease accounting matters.
• Act as the functional lead and backup to the Senior Manager, Fixed Assets & Lease Accounting for lease-related activities and strategic initiatives.

Qualifications

Required

• Bachelor's degree in Accounting or Finance.
• CPA designation required.
• 7+ years of progressive accounting experience.
• 3+ years of direct lease accounting experience under ASC 842.
• Strong knowledge of US GAAP, financial reporting, and internal controls.
• Experience with ERP systems, preferably Oracle.
• Experience with lease accounting software platforms.
• Demonstrated leadership, communication, project management, and stakeholder management skills.
• Public company experience.
• Global accounting experience.
• Experience supporting SOX compliance and external audits.
• Experience leading process improvement initiatives.

Preferred

• Public company experience.
• Global accounting experience.
• Experience supporting SOX compliance and external audits.
• Experience leading process improvement initiatives.

Total Rewards

We understand compensation is an important factor as you consider the next step in your career.

• The estimated salary range for this position is $110,000- $135,000 and is based on multiple factors, including job-related knowledge/skills, experience, geographical location, as well as other factors.
• This position is eligible for annual bonus compensation with a target payout of 20% of the base salary.
• This position also provides health benefits such as medical, dental and vision; wellness benefits such as mental and financial health; and retirement savings (401K) commensurate with the standard rewards offered in each individual location or country.
• We also provide full-time employees with paid time off including vacation (15 days), holiday and personal days (totaling 12 days), and sick time off (72 hours).