Work it! Here at Shake Shack, we take care of each other first and foremost so that we can make raves for our guests, community, suppliers, and investors. After all, teamwork makes the dream work. We work our buns off, but we play hard too, with a company retreat, Team Appreciation Day, volunteer opportunities, and so much more. If you’re looking for a deeply fulfilling, financially rewarding, and really fun career, you’re in the right place.
Manager of Leases
The Manager of Leases will be responsible for the overall functions of the Lease Accounting Team. The Manager of Leases will oversee the period-end close responsibilities as well as day-to-day responsibilities related to leases and occupancy. In addition, the Manager of Leases will be heavily involved in the implementation of the new lease standard, ASC 842, and take a leadership role in ensuring the Company is compliant with the standard after initial implementation.
- Lease Accounting
- Work closely with the Lease Accounting Team to develop new accounting processes to transition the existing lease population to comply with ASC 842 standards.
- Prepare analysis to test executed leases to determine classification (capital/financing vs. operating) under ASC 840 and ASC 842.
- Liaise with Shake Shack Development and Legal Teams to review newly signed leases and update lease information files.
- Maintain deferred rent workbook and prepare month-end journal entries.
- Calculate percentage rent and prepare new percentage rent schedules in accordance with lease terms.
- Review CAM/RE Tax Reconciliations.
- Maintain the tenant improvement allowance workbook to reflect installments owed to Shake Shack per the lease and record receivables as they are formally requested from Landlords.
- Prepare period-end entries, account reconciliations, and account analyses as it relates to leases and occupancy, with appropriate SOX documentation and support when required.
- Facilitate period-end closings by ensuring the accurate and timely completion of all responsibilities.
- SOX Compliance
- Support compliance of SOX key controls related to owned accounts and processes.
- Coordinate with internal or external auditors related to owned accounts and processes ensuring complete, timely and accurate responses to information requests.
- Continuously evaluate SOX controls in light of changing systems/processes and work with Internal Audit to identify and implement necessary control changes.
- Process Improvement
- Review existing processes, structures, and systems to assist in the identification of improvement opportunities with a focus on simplification, standardization and optimization, especially the reduction of manual, Excel-based activities.
- Help drive the reduction of the close timeline by assessing and streamlining close-related activities.
- Assist in assessing the impact from and implement the required changes to systems, process, policies and procedures due to new accounting standards, regulatory changes, changes in business strategy, cross-departmental initiatives and other operational changes.
- Assist with driving change management by working with IT and other key stakeholders related to any associated changes.
- Manage and/or support the implementation of on-going process improvement initiatives.
- Annual Audit and Quarterly Reviews
- Support information flow between the Lease Accounting Team, external auditors and other internal and external partners.
- Provide requested support to Tax and Financial Reporting and adhere to external reporting timelines.
- Collaborate with other Home Office teams where required and appropriate.
- Strengthen and maintain relationships with both internal and external parties.
- Remain current on accounting and other regulatory changes impacting lease accounting and related areas.
- Remain current on Restaurant and Retail industry-specific technologies and emerging trends.
- Prepare reports/analyses and participate in other projects as needed.
Skills & Knowledge
- BS/BA in Accounting or related field required.
- CPA a plus.
- Ability to work under pressure and within tight deadlines.
- Minimum 3+ years of relevant accounting experience.
- Experience with leases strongly preferred.
- Experience at “Big 4” accounting firm strongly preferred.
- Experience in the restaurant/retail, or multi-unit, industries a plus.
- Public company SOX experience a plus.
- Medical, Dental, and Vision Insurance
- Transit Discount Program
- 401K Plan with Company Match
- Paid Time Off Program
- Flexible Spending Accounts
- Employee Dining Program
- Referral Bonus
- Online Training Program
- Career Development
- Corporate Fitness Discount Programs
- Choice of Global Cash Card or Direct Deposit
Beginning as a hot dog cart in New York City’s Madison Square Park, Shake Shack was created by Danny Meyer, Founder and CEO of Union Square Hospitality Group and best-selling author of Setting the Table. Shack Fans lined up daily, making the cart a resounding success, and donating all proceeds back to the park beautification efforts. A permanent stand was eventually built…and the rest is Shack history! With our roots in fine dining and giving back to the community, we are committed to high quality food served with a high level of hospitality. Our team members enjoy a positive work environment that is deeply committed to the philosophy they we "Stand for Something Good.