Director, Fixed Assets Lease Accounting

Directs and oversees all the organization's fixed asset, occupancy, and lease accounting functions. Responsible for creating and communicating critical financial and business analysis/support to management on lease and occupancyrelated costs, capital expenditures, proper accounting treatment, and depreciation trends in accordance with GAAP. Requires technical accounting knowledge of lease accounting and the long-lived asset process, including impairment. Responsible for ensuring overall compliance with SEC rules and regulations, Sarbanes-Oxley compliance, tax matters, and other general compliance matters. Frequent independent judgments are essential. The incumbent is also required to perform all tasks in observance of Rite Aid’s brand and strategy and adhere to our core values and service attributes.

The associate is responsible for the functions below, in addition to other duties as assigned:

• Prepare key financial reports, provide information regarding accounting practices and procedures to ensure

proper accounting treatment for leases and capitalizable projects, and monitoring of triggering events for proper

asset valuation. Concludes on accounting treatment for software capitalization; internally developed software

and Cloud Computing implications - SAAS, IAAS, and PAAS.

• Supervise staff and daily operations of fixed assets, construction payables, capital expenditure oversights, and

lease administration accounting, including ASC 842, impairment, and closed store accounting implications. 15%

• Oversee reporting utilizing the current fixed asset management system. Resolve fixed asset discrepancies by

investigating and reconciling transactions. Maintain fixed asset schedules by researching depreciation laws;

recommending actions; completing depreciation transactions.

• Controls expenses by preparing annual budgets for fixed assets, occupancy, and leases; updating forecasts

and providing variance explanations.

• Ensure SOX compliance (1) control documentation is maintained including policies, narratives, flowcharts, and

SOX testing plans (2) controls are tested and working and (3) facilitate the review of the controls internally and

with external auditors.

• Protects organization value by keeping information confidential; cautioning others about potential breaches.
• Maintains continuity of work operations by documenting and communicating actions, irregularities, and
• Maintains financial historical records by preparing and securing accounting documents.

continuing needs.

• Improves accounting job knowledge by attending educational workshops; reviewing professional and technical

publications; establishing personal networks; benchmarking state-of-the-art practices; participating in

professional societies.

• Contributes to accounting and organization success by welcoming related, different, and new requests; helping

others accomplish job results.

Supervisory Responsibilities

This position directly supervises Manager, Fixed Assets, CIP & Retail Facilities Accounting, Sr.Accountant, Accountant, Analyst 2, Business L&D, and carries out supervisory responsibilities in accordance with Rite Aid policies and applicable laws. Responsibilities include interviewing, hiring,training, directing, rewarding, and disciplining associates; appraising associate performance; and resolving complaints.

• 7 years of experience in Fixed Asset Accounting required.
• Bachelor’s Degree in Arts/Sciences (BA/BS) required.

The typical starting pay range for this position is between $136,400-$195,950 although wages can vary based on experience and geography.