Operations Accounting Manager Leases, CoreWeave
$130-150k
More information about location
Office located in Livingston, NJ / New York, NY / Sunnyvale, CA
Specialized cloud provider
Job no longer available
Specialized cloud provider
201-500 employees
Job no longer available
$130-150k
More information about location
Office located in Livingston, NJ / New York, NY / Sunnyvale, CA
201-500 employees
Company mission
CoreWeave's mission is to deliver a massive scale of GPU compute resources on top of the industry’s fastest and most flexible infrastructure.
Role
Who you are
- 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
- Investing in our people is one of our top priorities, and we value candidates who can bring their diversified experiences to our teams
- 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
- Applicants must have work authorization that does not require sponsorship from the company now or in the future
What the job involves
- We are seeking an Operations Accounting Manager Leases 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 Operations Accounting Manager Leases, 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
- 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
Our take
Many cloud service providers can suffer from slow prediction speeds when they are used for data modeling. CoreWeave solves this problem with its specialized cloud service provider.
CoreWeave reduces prediction times and makes service requests faster and more efficient. This, in turn, cuts cloud costs considerably. This has proven to be a strong draw for many companies, with CoreWeave signing a lucrative partnership with GPU heavyweight NVIDIA as well as partnering with BitOoda, which has allowed it to expand its operations to the financial market.
However, in 2023 it closed three very significant rounds of funding (Series B and debt and secondary extensions), which is being invested into expanding its US-based data centers, opening two new ones in the coming year. The question remains whether, despite 2023's big investments in the sector, CoreWeave can maintain this momentum and whether generative AI's stock will continue to rise.
Steph
Company Specialist at Welcome to the Jungle
Insights
194% employee growth in 12 months
Company
Funding (last 2 of 5 rounds)
May 2024
$1.1bn
SERIES C
May 2023
$200m
SERIES B
Total funding: $1.7bn
Company benefits
- Medical, dental, and vision coverage
- Life and disability insurance
- Flexible Spending Account
- 401k with employer match
- Flexible PTO
- Catered lunch
- Kinside Childcare Concierge Service
- Gym reimbursement
Company HQ
Civic Center, New York, NY
Leadership
Michael Intrator
(CEO, not founder)Was Principal Portfolio Manager at Natsource Asset Managment for over 15 years. Served as CEO of The Atlantic Crypto Corporation and Hudson Ridge Asset Management.
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