Senior Manager Accounting (Technical Accounting & Policy)
PURPOSE OF ROLE:
The principal purpose of the (Senior) Accounting Manager – Technical Accounting & Policy is to research and implement new accounting pronouncements and ensure that current accounting practices are in compliance with U.S. Generally Accepted Accounting Principles (GAAP). This person is responsible for researching complex, technical accounting issues affecting Lowe’s as they arise and are brought to the attention of the accounting function, and documenting Lowe’s position on such issues. Additionally, the role is responsible for documenting and periodically updating existing documented accounting policies around the accounting areas most significant to Lowe’s, as warranted by changes in accounting rules or in Lowe’s business.
This role is also responsible for keeping current with developments in U.S. GAAP and Securities Exchange Commission (SEC) reporting requirements and presenting relevant accounting research to senior management and is responsible for ensuring the effective communication and roll-out of any implementation plans. Additionally, the (Senior) Accounting Manager – Technical Accounting & Policy ensures SEC compliance through participation as a member of the External Reporting and Accounting Policy team in the preparation and review of Lowe’s SEC filings and the related XBRL information.
To accomplish this, the (Senior) Accounting Manager – Technical Accounting & Policy must have strong analytical skills, as well as written and verbal communication skills. This individual must be well versed in the U.S. GAAP hierarchy and have familiarity with Lowe’s research tools. Candidates should be detail-oriented and have strong partnering skills.
This individual will work closely with all areas of the business to assist in technical accounting questions around new or unusual transactions and/or agreements being entered into by the Company, including potential investments, potential acquisitions, and debt offerings.
- Researching and implementing new accounting responsibilities: Perform the initial assessment of new accounting pronouncements to identify impacted transactions, processes or disclosures; Partner with impacted groups to identify and implement new or modified processes and develop the practical application of new guidance requiring subjective evaluations or conventions due to the volume of transactions or system limitations; Develop and support recommendations to senior management regarding policy elections available under the new pronouncement; Prepare written policies documenting the analysis and conclusions reached for accounting judgments made throughout the process of implementation.
- Researching and documenting the Company’s accounting position for new business transactions: Provide guidance to various groups, primarily within Finance, on the proper accounting for new business transactions - this requires the individual to evaluate the new business transactions and identify applicable accounting guidance; Gain an understanding of how the transaction will flow through existing systems and what adjustments are necessary in order to properly account for the transaction, as applicable; 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;
- Prepare written policies documenting the analysis and conclusions reached for accounting judgments made throughout the process of implementation, as applicable based on the complexity and size of the transaction.
- Ensuring that current accounting practices are in compliance with U.S. GAAP: Review accounting policies documented by other accounting groups to ensure the accuracy and logic of their conclusions; coordinate the completion of the annual GAAP checklist with the managers responsible for the respective accounting topics and identifies areas requiring further scrutiny to ensure compliance; Serve as a general subject matter expert when questions arise regarding the proper accounting treatment for various transactions.
- Participating as the accounting designee on due diligence and purchase accounting for acquisitions, including identification of financial risks, recommending mitigation plans, and oversight of third-party experts and valuation specialists, etc.
- Monitoring activity of accounting standard-setters to proactively plan for and identify new accounting pronouncements that could potentially impact Lowes. This includes drafting responses from Lowe’s to be submitted to RILA (Retail Industry Leaders’ Association) or directly to the standard-setters as part of the comment process associated with new standards.
- Reviewing and evaluating financial disclosures made by other retailers in their quarterly and annual SEC filings to identify best practices and opportunities for improvement.
- Assisting in drafting responses to SEC comment letters on prior filings.
- Providing individuals across the accounting organization timely updates and summaries of new technical accounting guidance relevant to Lowe’s through written communications as well as quarterly presentations to key finance leaders.
- Evaluating a monthly sample of contracts for features embedded in the contracts that may require separate accounting as a derivative 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
- Bachelor’s Degree in Accounting or related field
- 5-7 years of experience with an emphasis in public accounting and/or technical accounting research
- Certified Public Accountant
- Demonstrated experience working cross-functionally
- Demonstrated experience working with senior leadership
- Experience related to SEC reporting.
- Experience with PeopleSoft ERP system
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 18 million customers a week in the United States and Canada. With fiscal year 2018 sales of $71.3 billion, Lowe’s and its related businesses operate or service more than 2,200 home improvement and hardware stores and employ approximately 300,000 associates. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.
Lowe’s is an equal opportunity affirmative action employer and administers all personnel practices without regard to race, color, religion, sex, age, national origin, disability, sexual orientation, gender identity or expression, marital status, veteran status, genetics or any other category protected under applicable law.