Tiffany & Co. Senior Accountant - Leases

Position Overview

The Senior Accountant - Leases is responsible for managing the financial aspects of lease agreements, ensuring accurate recording of transactions and compliance with IFRS16 and LVMH Group accounting policies for the Company's global portfolio. This position will also serve as the subject matter expert in lease accounting and related internal controls, with direct responsibilities for maintaining the lease accounting system (Leasa), the interpretation of complex lease contracts and the reconciliation of global lease accounts. The Senior Accountant - Leases will lead the month-end and year-end processes for leases, which include analyzing and providing insightful commentary for Balance Sheet and Profit & Loss fluctuations, assessing cash flow statement impacts and preparing all required audit schedules. They will also participate in departmental and company-wide projects and initiatives. This position requires a strong command of technical accounting principles, with the ability to analyze guidance and draft accounting positions. Additionally, this position requires a dynamic and collaborative individual with sharp analytical and decision-making skills, capable of cultivating effective partnerships with our global finance community.

Location: This is an in-person position, requiring attendance four days a week at our office in Whippany, NJ.

Key Accountabilities

Responsible for the day-to-day North America lease accounting process, which includes:

• Review and account for all lease contracts pertaining to North American (US and Canadian) operations, ensuring strict adherence to IFRS16. This includes accurate data entry into the Leasa system and the precise recording of all necessary journal entries.
• Calculate and manage monthly percentage rent accruals for all US and Canadian retail locations. Collaborate closely with Lease Administration to guarantee the timely execution of sales letters and percentage rent payments in full compliance with lease agreements.
• Partner with the North America Finance team to establish and manage lease-related accruals for retail stores where possession has occurred, but contract negotiations are ongoing (e.g., month-to-month arrangements).
• Conduct thorough and timely account reconciliations for all assigned areas, proactively identifying, investigating, and resolving any discrepancies to maintain data integrity.
• Actively participate in monthly critical date meetings, organized by Lease Administration and attended by Legal and Global Store Development. The objective is to ensure all lease accounting trigger points, such as possession dates, lease modifications, and store closures, are accounted for promptly and accurately.
• Provide essential support to the North America Finance team in the preparation of budgets and forecasts, specifically regarding Right-of-Use Asset Depreciation and variable rent expense.

Responsible for the global oversight of international lease accounting processes, which includes:

• Conduct comprehensive reviews and validations of all international lease contracts within the Lease system. Ensure meticulous documentation and strict adherence to IFRS16 and LVMH Group accounting policies across all global entities.
• Serve as the primary global point of contact for international Finance teams, providing expert support, guidance, and timely resolution for all lease-related inquiries.
• Develop and deliver comprehensive Tiffany-focused IFRS16 training to international Finance teams, ensuring consistent understanding, seamless adoption, and adherence to standard operating procedures and best practices.
• Proactively uphold Group accounting policies and enforce critical timelines across all global regions, ensuring the consistent application of lease accounting principles and contributing to the timely completion of monthly global deadlines.

Responsible for executing monthly, quarterly and annual financial close processes and support external audits by completing assigned analysis, including:

• Analyze Balance Sheet and P&L variations, which include the preparation of commentary for the US and Canada fluctuations, as well as the review of international variations commentary.
• Prepare a consolidated Balance Sheet slides used in a Financial Review booked with upper management, which includes a roll of ROU and Lease Liability and commentary.
• Prepare lease flows for all markets and review entry into SyRUS during quarters and hard closes.
• Responsible for the submission of taxonomy reporting to LVMH group.

Participate in special projects and drive continuous improvement initiatives:

• Partnering with technical accounting to ensure the lease accounting policies and related standard operating procedures are up to date and executed globally.
  
• Partner with international finance teams to identify knowledge and process gaps, leveraging these insights to continuously enhance training materials and optimize global lease accounting workflows.
• Explore and propose solutions for using automation to reduce efforts in manual calculations.

Required Qualifications

• Bachelors of Science degree in Accounting
• 4+ years of public and/or private accounting or related experience
• Experience with IFRS16 Leases
• Excellent oral, written, listening and analytical skills
• Strong organizational and time management skills
• Must be fluent in Excel and should have strong computer skills
• Must be willing to work flexible hours during monthly, quarterly and year-end closings, as well as for special assignments when requested
  

Preferred Qualifications

• Certified Public Accountant and/or Big 4 experience
• Experience in financial systems such as JD Edwards and Hyperion Financial Management
• Experience in the Lucernex lease administration system or Leasa
• Experience in Retail

The hiring range for this position ranges from $92,000 - $110,000. The rate of pay offered will be dependent upon candidates' relevant skills and experience.