CoreWeave is a specialized cloud provider, delivering a massive scale of GPU compute resources on top of the industry’s fastest and most flexible infrastructure. CoreWeave builds cloud solutions for compute intensive use cases — VFX and rendering, machine learning and AI, batch processing, and Pixel Streaming — that are up to 35 times faster and 80% less expensive than the large, generalized public clouds. Learn more at www.coreweave.com.
We are seeking a Lease Accounting Manager who will play a critical role supporting the accounting function at CoreWeave, Inc. This role will report to the Senior Accounting Manager and will be a part of the team that is critical to the company’s month-end close process.
As a Lease Accounting Manager, you'll be responsible for supporting the ongoing development, management and administration of our global data center lease obligations by abstracting and maintaining accurate lease data in an internal database and producing recurring and ad hoc reports to asset managers, negotiators, partner teams and leadership.
In this role, you will be responsible for all activities post agreement (lease) signature, maintain the single source of truth for all executed third-party agreements, and manage the ongoing obligations that result out of these third-party agreements that supply capacity into the overall CoreWeave space/power portfolio. You will work with internal and external cross-functional partners, across time zones, and geographical borders.
The ideal candidate will have a forward-thinking approach to efficient accounting processes in a fast-paced, high-growth environment and the ability to communicate deliverables and recommendations.
In this role, you can expect to:
- Review contracts to determine ASC842 lease application and prepare and track lease schedules, payments, and reconciliation.
- Lead and own the monthly financial close process for operating and finance leases.
- Identify contract variations that could impact lease accounting under Financial Accounting Standards Board Accounting Standards Codification 842, Leases (“ASC 842”).
- Manage accounting components of the lease portfolio, such as extensions, amendments, or terminations.
- Work closely with the Lease Administration team to set up and maintain lease projects in Net Lease.
- Ensure that lease transactions are recorded accurately, consistently and within company policy.
- Manage lease amortization schedules for accuracy and completeness.
- Manage key period-end lease reconciliations, including the reconciliation of the lease GL accounts.
- Prepare lease accounting journal entries.
- Determine the proper handling and ensure timely resolution of discrepancies/outstanding items on account reconciliations.
- Provide balance sheet account movements to support cash flow reporting.
- Analytically review and understand monthly lease expense, working with the Financial Planning & Analysis team to assess actuals against budget.
- Collaborate with key-cross-functional partners including finance, legal, data analytics, data center operation, inventory management to ensure key stakeholders are informed.
- Identify opportunities to improve efficiency in the current processes and lead enhancements, both manual and automation opportunities, including identifying existing functionalities not being fully utilized.
- Own the development and maintenance of lease policies, as well as evaluation of contracts that may contain leases, including consultation with the SEC Reporting/Technical Accounting team on an as-needed basis. Document accounting conclusions for significant contracts evaluated in accounting memos.
- Assist SEC Reporting/Technical Accounting team in preparing quarterly and annual lease footnote disclosures in Form 10-Q/10-K.
- Provide any audit support required.
- Assess leases for impairment triggers and perform appropriate impairment tests when necessary. Document accounting conclusions in accounting memos.
- Support ongoing implementation and testing efforts related to new and enhancements made to existing financial systems.
- Maintain documentation for lease process to ensure compliance with Sarbanes Oxley 404 requirements and evaluate current processes for improvement. Ensure compliance with the Company’s internal controls over financial reporting.
- Ad hoc projects assigned by senior management including analysis of business operations, proposed accounting treatment of unusual transactions or other accounting and finance related matters.
- Work closely with Accounts Payables and Supplier teams to facilitate payments, including onboarding external stakeholders, validating and maintaining rent schedule accuracy, completing reconciliations, supporting internal and external stakeholder requests, driving efficiency and creating process flows.
To thrive in this role, you have
- Strong knowledge of lease accounting applications and ERP systems experience (Oracle NetSuite and Net Lease proficiency a plus).
- Excellent working knowledge of ASC 842, SOX compliance
- Bachelor’s degree and a minimum of 7 years of accounting, Big 4 public accounting preferred.
- 3 years of lease accounting experience preferred.
- CPA, or CMA candidate preferred, with strong knowledge of U.S. GAAP.
- Must demonstrate attention to detail and the ability to manage multiple projects simultaneously to achieve results.
- Excellent organizational, time and self-management skills & ability to prioritize and work well under pressure to meet deadlines.
- Team player with a positive attitude that embraces challenges and thrives in a fast-paced environment.
- Strong analytical and problem-solving skills
Our compensation reflects the cost of labor across several US geographic markets. The base pay for this position ranges from $110,000-$125,000. Pay is based on a number of factors including market location and may vary depending on job-related knowledge, skills, and experience.
Hybrid Workplace
Successful candidates will be expected to attend onboarding training at our NJ Headquarters within their first several weeks of employment, with subsequent quarterly travel requirements of 1 week duration.
If you reside within a 30-mile radius of our New Jersey, New York, or Philadelphia offices, we're excited for you to join us at the office at least three times a week, recognizing the significance we place on fostering connections, collaboration, and creativity within our office culture. Our commitment to operating as a hybrid workplace underscores our dedication to enabling our employees to tailor their work-life balance to their individual preferences.
Why CoreWeave?
At CoreWeave, we work hard, have fun, and move fast! We’re in an exciting stage of hyper-growth that you will not want to miss out on. We’re not afraid of a little chaos, and we’re constantly learning. Our team cares deeply about how we build our product and how we work together, which is represented through our core values:
- Be Curious at your Core
- Act like an Owner
- Empower Employees
- Deliver Best In-Class Client Experience
- Achieve More Together
We support and encourage an entrepreneurial outlook and independent thinking. We foster an environment that encourages collaboration and provides the opportunity to develop innovative solutions to complex problems. As we get set for take off, the growth opportunities within the organization are constantly expanding. You will be surrounded by some of the best talent in the industry, who will want to learn from you, too. Come join us!
Benefits
We offer a competitive salary and benefits, including:
- Medical, dental and vision insurance - 100% paid for the employee
- Company paid Life Insurance
- Voluntary supplemental life insurance
- Short and long-term disability insurance
- Flexible Spending Account
- Tuition Reimbursement
- Mental Wellness Benefits through Spring Health
- Family-Forming support provided by Carrot
- Paid Parental Leave
- Flexible, full-service childcare support with Kinside
- 401(k) with a generous employer match
- Flexible PTO
- Catered lunch each day in our offices
- Weekly massages in NJ office
- A casual work environment
- Work culture focused on innovative disruption
California Consumer Privacy Act - California applicants only
CoreWeave is an equal opportunity employer, committed to our diversity and inclusiveness. We will consider all qualified applicants without regard to race, color, nationality, gender, gender identity or expression, sexual orientation, religion, disability or age.
