About Lowe's Companies Inc.
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 the fiscal year 2019 sales of $72.1 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 its hometown Charlotte region and all communities it serves through programs focused on safe, affordable housing and careers in the skilled trades. For more information, www.Lowes.com
About Lowe's India
Lowe's India is the retail technology centre for Lowe's Companies Inc. and is based out of Bengaluru, India. Set up in 2014, Lowe's India focuses on technology and shared business services. Technology teams support e-commerce, mobile, infrastructure and corporate systems that enable various functions such as supply chain, distribution, corporate services. Initiated with just over 20 associates, Lowe's India now has a growing associate base which employs over 3000 people.
Job Summary
The primary purpose of this role is to ensure that Right-of-Use assets, liabilities, and expenses are properly accounted for and classified within the company's financial statements in accordance with company policy and U.S. Generally Accepted Accounting Principles (US GAAP), specifically under ASC 842. This role will be responsible for ensuring the timely and accurate completion of monthly equipment lease accounting processes related to retail, corporate, and supply chain locations. This role will be responsible for providing inputs into the preparation of monthly financial reporting packages, including monthly Income Statements, Balance Sheets, Cash Flows, and Executive Reporting Analyses, and will be responsible for conducting research and providing commentary and insights for significant variances to targets.
This role will be the organization's primary accounting partner for equipment lease related transactions. This position will be responsible for providing guidance on lease accounting, as needed, and will be responsible for ensuring a proper internal control structure is in place and ensuring SOX compliance as it relates to lease accounting. This position will have direct interaction with internal and external auditors and will partner with Finance in setting quarterly and annual budget/forecast targets.
Roles & Responsibilities
Core Responsibilities:
- Executes financial activities in a timely and efficient manner. Manages and performs moderately complex financial analysis (i.e., forecasting, variance analysis, contract reviews, etc.) and reconciliations to support monthly, quarterly, and annual close cycles, with a focus on activities that require knowledge and understanding of US GAAP and business processes.
- Prepares and evaluates reports to ensure accuracy of financial reporting and analysis.
- Ensures appropriate supporting documents, provisions, and other details for journal entries and account reconciliations are maintained and documented prior to approval.
- Researches various financial activities to identify moderately complex issues, explaining findings to principal accountants, managers, and directors to determine resolution
- Partners with the business to understand new transactions or changes in the business to ensure accounting processes are properly designed and updated timely. Performs ongoing review of existing processes to identify process improvements and to drive efficiencies.
- Manages small projects/initiatives and/or participates in broader projects, working with and directing teams within a finance function to deliver the best solutions to financial issues.
- Executes testing around financial controls to provide documentation and support for SOX compliance in respective financial area.
- Communicates effectively within the team, across other functions, and directly with auditors to resolve questions and issues.
Years Of Experience
- Post Qualification 5 years.
- Graduates with 8 to 10years experience.
Education Qualification & Certifications (optional)
Required Minimum Qualifications
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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 mainly on Lease accounting end to end (Asset creation, retirement, Depreciation, Project costing etc)
- Reconciliation and Reporting.
- Expertise in Excel
- Power BI would be an added advantage.
- Working experience in AS842 (Lease accounting)
Secondary Skills (desired)
- Experience with PeopleSoft ERP system
- Experience with Oracle Hyperion
Lowe's is an equal opportunity employer and administers all personnel practices without regard to race, color, religious creed, sex, gender, age, 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 state or local law. Lowe's wishes to maintain appropriate standards and integrity in meeting the requirements of the Information Technology Act's privacy provisions.
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.
Starting rate of pay may vary based on factors including, but not limited to, position offered, location, education, training, and/or experience. For information regarding our benefit programs and eligibility, please visit https://talent.lowes.com/us/en/benefits.
