Lease Accounting Manager Asia Pacific (IFRS 16)

Company Name: Burberry Limited

Location: Hong Kong S.A.R, Not, HK

Overview

INTRODUCTION

 

Founded in 1856, Burberry today remains quintessentially British, with outerwear at its core.  Digital luxury positioning and intensive focus on design innovation, quality and heritage icons ensure continued brand purity and relevance globally across genders and generations. Burberry believes that in order to be a great brand it must also be a great company and constantly leverages the energy of its compassionate and creative thinking culture to continually innovate and drive the brand forward. Headquartered in London, Burberry is a design, marketing and retail led business with a global reputation for innovative product design, digital marketing initiatives and dynamic retail strategies.

JOB PURPOSE

 

  • Burberry plc., a global multi-billion-pound luxury fashion business, is seeking to hire lease accounting manager Asia Pacific. The role is part of a new Burberry Business Services Finance Record to Record sub-organisation.
  • The role is responsible for delivering accurate and timely accounting and reporting for property leases & related Fixed assets retirement obligation and associated costs for the in-scope territories in accordance with the Group Policies, IFRS 16 and local GAAP requirements. In addition to relevant technical accounting expertise, this position requires the ability to work collaboratively with a variety of finance and non-finance colleagues.

    JOB DETAILS

     

    • Accountable for managing Leases team in Hong Kong.
    • Responsible and accountable for the end-to-end solution and performance of an integrated set of Burberry Leases processes.
    • Validate the accuracy of Co-Star database that house the Property lease data for the property lease in Asia Pacific region. Identify those are in scope that need to be capitalised.
    • Check the lease obligation capitalised and land use right Assets are booked are in accordance to the term of the property lease.
    • Validate and Reconcile the expected posting of Co-Star vs. the actual invoice receipt and posting and ensure it is consistent.
    • Investigate discrepancy and ensure property lease accounting for the in-scope entities is accurate and that compliance with Group accounting policies and IFRS.
    • Accounting and reconciliations of property and associated property costs accruals and prepayments.
    • Managing the various internal stakeholders and accompanying change management programmes to oversee successful service delivery.
    • Provides accurate and timely month-end and periodic management reporting, including submissions to Group Finance.
    • Prepares and delivers specific audit requirements (both internal and external).
    • Working with Procure to pay team on rental charges validation and it related booking to lease obligation. 
    • Work with wider RTR team members and provide accurate lease accounting as part of their entity lease accounting processes.
    • Maintain the entity that is need to maintain their local ledger in IAS 17 and maintain the dual reporting for local statutory and tax reporting.
    • Apply understanding of assigned accounting processes to identify gaps and propose continuous improvement measures
    • Escalation point for customer complaints, service failures or adherence issues in Lease accounting.

    PERSONAL PROFILE

     

    • Bachelor’s degree in accounting or related field is preferred.
    • Professional accounting qualification e.g. ACA, CA, ACCA, or CPA with significant post qualification experience.  
    • At least 8 years working in Fixed Assets & Leases accounting and Shared Services environment in Record to Report area with 3 years of demonstrated management experience in leading and building a -team well as hiring, training, motivating and retaining accounting personnel.
    • Fashion retail industry experience is a plus.
    • SAP working experience and knowledge and Business Planning and Consolidation (BPC) tool for Record to Report is essential.
    • Excellent technical skills including solid understanding and awareness of IFRS16 & IAS 17.
    • Requires good understanding of IT systems and processes.
    • Advanced Excel skills with experience of building and working with complex models and large data sets
    • He/she can operate both at the strategic and, where required, detailed level. Displays an affinity for technology’s ability to drive efficiencies and enhance service delivery.
    • Has built strong and sustainable relationships with a range of external stakeholders and influenced them effectively.