Sr Manager Lease Accounting and Administration

Ulta Beauty, Inc.•Bolingbrook, IL

3d•Hybrid

About The Position

OVERVIEW Experience something categorically different. With over 1,400 stores throughout the U.S., a thriving digital ecosystem and a growth trajectory that’s put Wall Street on notice; Ulta Beauty provides dynamic challenges for those who want to apply their financial acumen to ever-increasing levels of complexity. Professional ownership. Diverse and ever-evolving projects. Greater levels of impact. The ability to influence decisions and organizational direction. It’s all part of the daily experience of our Finance & Accounting associates. If you want a collaborative environment where continual learning, career self-determination and trust are prioritized, where an engaged leadership provides deep levels of support and guidance, Ulta Beauty is uniquely positioned to deliver greater levels of career satisfaction. Are you up for the challenge? THE IMPACT YOU CAN HAVE: The Senior Manager – Lease Accounting and Administration leads the accounting, financial reporting, governance, and administration of the Company’s global lease portfolio, consisting of more than 1,500 domestic and 90 international leases across retail stores, corporate offices, and distribution centers. This role is responsible for overseeing end-to-end lease accounting and administration processes, ensuring compliance with ASC 842, internal accounting policies, SOX requirements, and applicable reporting standards. Serving as the Company’s primary subject matter expert for lease accounting and administration, this position provides leadership over technical accounting, financial reporting, controls, systems, and process execution across the global lease portfolio. The role partners closely with Real Estate, Legal, FP&A, and international finance teams to support lease transactions and ongoing portfolio activity, including multi-currency lease accounting, while driving strong governance, data integrity, and process improvement.

Requirements

Bachelor’s degree in Accounting or Finance required.
CPA required.
8+ years of progressive accounting experience, including experience leading teams and managing complex accounting processes in a large, multi-site, or similarly complex operating environment.
Significant experience in lease accounting and real estate transactions, with deep technical knowledge of ASC 842 and related U.S. GAAP guidance.
Demonstrated experience applying accounting guidance to complex lease arrangements, including modifications, reassessments, impairments, and other non-routine transactions.
Experience supporting financial reporting, internal controls, and audit activities within a public company or similarly regulated environment.
Experience working with large lease portfolios; retail or other multi-location industry experience preferred.
Exposure to international lease portfolios, multi-currency accounting, and global finance operations preferred.
Experience leading process improvement, systems enhancement, or transformation initiatives preferred.
Proven ability to lead, develop, coach, and mentor high-performing teams.
Strong technical accounting and financial reporting skills, including expertise in U.S. GAAP, ASC 842, internal controls, and SOX compliance.
Expertise in interpreting complex lease agreements and assessing the accounting and business implications of contractual terms and portfolio changes.
Ability to operate as a strategic business partner and influence cross-functional stakeholders across Finance, Real Estate, Legal, FP&A, and other areas of the organization.
Strong interpersonal, written, and verbal communication skills, with the ability to communicate complex accounting matters clearly to both finance and non-finance audiences.
Strong analytical, organizational, and problem-solving skills, with the ability to exercise sound judgment in complex or ambiguous situations.
Demonstrated ability to drive process improvement, enhance controls, and implement system or automation solutions that improve efficiency, scalability, and reporting quality.
Experience designing, operating, or overseeing internal controls and supporting internal and external audits.
Ability to manage multiple priorities and deadlines in a fast-paced, dynamic environment.
Advanced proficiency in Excel and experience working with ERP and lease administration systems; SAP/S4HANA and Tango experience preferred.
Experience supporting international operations or multi-currency accounting environments preferred.

Responsibilities

Lead the Company’s global lease accounting and administration function, establishing priorities, governance, and operating standards across a lease portfolio of domestic and international retail, office, and distribution center locations.
Serve as the primary subject matter expert for lease accounting under ASC 842 and related U.S. GAAP guidance, providing leadership on complex, non-routine, and judgmental lease transactions.
Partner with Real Estate, Legal, FP&A, Growth & Development, and other cross-functional stakeholders to provide accounting guidance and financial leadership on new leases, renewals, amendments, relocations, store closures, restructurings, and other strategic real estate initiatives.
Lead accounting for the full lifecycle of the Company’s lease portfolio, including lease commencement, classification, initial measurement, modifications, reassessments, terminations, impairments, and other technical accounting considerations.
Interpret complex lease agreements and key contractual provisions, including landlord allowances, rent holidays, percentage rent clauses, escalation provisions, and other terms that impact accounting treatment, financial reporting, and lease administration.
Establish and maintain the governance framework for the global lease portfolio, including oversight of lease data quality, key accounting judgments, approval workflows, policy application, and change management related to portfolio activity.
Provide leadership over lease accounting and administration for international locations, including coordination with international finance teams, multi-currency lease accounting, and alignment with local statutory and global reporting requirements.
Evaluate foreign currency impacts related to lease liabilities, right-of-use assets, and rent payments to ensure proper accounting, translation, and reporting in consolidated financial statements.
Support the development, application, and governance of Incremental Borrowing Rates (IBRs) used to measure lease liabilities in accordance with ASC 842.
Ensure the completeness, accuracy, and integrity of lease data maintained within lease administration platforms and related accounting systems and oversee controls around ongoing data maintenance and portfolio changes.
Lead the month-end, quarter-end, and year-end close activities for lease accounting, including review of journal entries, account reconciliations, analytics, and financial reporting deliverables.
Oversee preparation and review of lease-related disclosures for quarterly and annual external reporting, ensuring compliance with U.S. GAAP, SEC reporting requirements, and internal reporting standards, as applicable.
Lead development and review of lease-related analyses and portfolio insights, including impairment assessments, modification analyses, occupancy cost trends, and other decision-support reporting for Finance and business leadership.
Partner with FP&A and business stakeholders to support budgeting and forecasting activities related to rent, real estate taxes, common area maintenance, and other occupancy-related costs, while providing insight into key drivers and emerging trends.
Lead, develop, and mentor the Lease Administration and Lease Accounting team, including talent development, performance management, succession planning, workload prioritization, and capability building.
Provide oversight of the team’s execution of lease administration activities, including rent payment processes, landlord communications, and reconciliation review activities, while ensuring service quality, compliance, and effective issue resolution.
Ensure an effective control environment over lease accounting and administration, including compliance with SOX requirements, maintenance of supporting documentation, and consistency of control execution across the portfolio.
Drive audit readiness for the lease accounting function by overseeing internal and external audit support, coordinating responses to audit inquiries, re-mediating identified issues, and strengthening supporting documentation and evidentiary standards.
Establish and drive the roadmap for lease accounting process improvement, automation, and systems optimization across lease administration and ERP platforms to enhance scalability, control execution, data integrity, and reporting efficiency.
Identify and implement opportunities to improve processes, streamline workflows, and enhance technology-enabled solutions that support effective management of the global lease portfolio.
Provide accounting leadership and decision support for strategic portfolio matters, including market exits, portfolio optimization efforts, relocations, restructuring, and other complex lease-related business decisions.