Oracle Fusion Lease Management📣 Job Ad

About the Oracle Fusion Lease Management Role

RiDiK is seeking an experienced Oracle Fusion Lease Management professional for a full-time position in Riyadh. This role focuses on the implementation, configuration, and ongoing management of Oracle Fusion Lease Accounting Cloud to ensure compliance with IFRS 16 and ASC 842 standards. The ideal candidate will possess a strong understanding of lease accounting principles and extensive experience with Oracle Fusion ERP Cloud.

Lease Accounting Implementation and Configuration

This position involves the detailed configuration of Oracle Fusion Lease Accounting Cloud to support IFRS 16 and ASC 842 compliance. Key responsibilities include setting up lease contracts, Right-of-Use (ROU) assets, amortization schedules, and lease liability balances. The role also requires configuring Sub-Ledger Accounting (SLA) for accounting events and the General Ledger (GL) interface, implementing Multi-GAAP accounting for parallel reporting, and setting up payment schedules, interest calculations, and role-based access controls.

Lease Lifecycle Management

The role encompasses managing the end-to-end lease lifecycle, from contract creation through to termination. This includes handling lease events such as rebooking, transfers, assumptions, renewals, and buyout quotes. Responsibilities also extend to supporting both Operating Lease and Finance Lease accounting treatments, configuring exemptions for short-term leases and low-value assets, and managing lease modifications and reassessments, including updated discount rates.

Integration and Reporting Capabilities

A critical aspect of this role is ensuring seamless integration between Lease Accounting and other Oracle financial modules, including GL, Accounts Payable (AP), Accounts Receivable (AR), Fixed Assets, and Tax. This involves configuring Oracle Integration Cloud (OIC) for data flows and generating essential statutory reports such as Portfolio Summary, Portfolio Details, Lease Details, and disclosure notes. The role also supports financial audit requirements by providing accurate reporting on lease obligations and ROU assets, including amortization schedules and liability roll-forward reports.

Required Functional and Technical Skills

Candidates should possess at least 5 years of Oracle ERP experience, with hands-on expertise in Oracle Fusion Lease Accounting or Oracle Property Manager (EBS). A deep understanding of IFRS 16 and ASC 842 lease accounting standards, including their balance sheet impact, is essential. Proficiency in ROU asset recognition, lease liability calculation, and amortization under IFRS 16 is required. Strong knowledge of Oracle financial modules (GL, AP, AR, FA, SLA) and experience with Oracle Fusion ERP Cloud configuration and functional setup management are necessary. Familiarity with Oracle Integration Cloud (OIC) for lease-related integrations is also expected.

Accounting Knowledge and Compliance

This role demands a solid understanding of lessee versus lessor accounting treatment under IFRS 16, as well as the criteria for finance lease versus operating lease classification. Candidates must be familiar with incremental borrowing rate (IBR) and discount rate calculations, present value computations, and the IFRS 16 transition approaches (full retrospective and modified retrospective). Knowledge of lease disclosure requirements under IFRS 16, including maturity analysis and ROU asset movement, is also required.