Lease Administration Specialist - "Global Life-Science Leader"

Position: Lease Administration Specialist

Location: Sofia, Bulgaria / Hybrid

About Labcorp:

We are a global leader of innovative and comprehensive laboratory services that helps doctors, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. Through our unparalleled diagnostics and drug development laboratory capabilities, our 60,000+ employees combine cutting-edge innovation, science and technology to solve some of today's biggest health challenges, accelerate life-changing healthcare breakthroughs and impact lives around the world.

Key Duties & Responsibilities:

• Ensuring payment accuracy by confirming payment amounts match lease terms and Accounting information is correct before processing invoice payments
• Evaluating and paying the fair market value letter invoices, rejecting if not accurate
• Examining and paying annual operating expense reconciliations submitted by the Divisional Lease Administrators/Drug Development team for compliance with lease terms. This involves analysis of the invoices and reconciliation material against the lease documentation.
• Processing other payments as needed, including monthly or quarterly miscellaneous invoices, in the company's Lease Administration system or in the company's ERP Oracle PeopleSoft
• Reviewing Lease Administration system database for record completeness and updating or filling in missing information as needed, including landlord and property managers contact and other information
• Reviewing and commenting on lease expenditure proposals prior to subsequent review of Global Real Estate VP
• Conducting a quality check on all entries done by the Divisional Lease Administrators/Drug Development team for renewals, and month-to-month/ holdover leases. This involves confirming the correct entry of payment amounts, Accounting information, lease dates and contract status. The Lease Specialist also checks for required documentation for each renewal or holdover status.
• Updating lease records to be aligned with Accounting requirements as requested by Corporate Reporting
• Creating new building records, new lease records and all future payments for all new leases in the Lease Administration system, which involves interpreting and analyzing the various clauses and terms (renewal options, early termination clauses, holdover penalties, go-dark clauses, and LabCorp's responsibility to pay utilities, insurance, property taxes, operating expenses and other miscellaneous charges) of each new lease and entering the information in the Lease Administration system for accurate record keeping.
• Terminating leases upon receipt of the proper notification from the Divisional Lease Administrators/Drug Development team, noting the outstanding deposits, paying any outstanding amounts, and following up with the Divisional Lease Administrators on deposit receipt status after the site is vacated
• Responsible for all changes of addresses for landlords and property managers, as well as all changes in ownership of LabCorp's various leased properties. This involves reviewing the documentation submitted for compliance with applicable rules and policies, and submitting this to Accounts Payable for vendor updates in PeopleSoft.
• Ensuring compliance with all rules and regulations that govern leasing from physicians or clients, as determined by the Law and Compliance Departments
• Creating and producing reports from the Lease Administration system as needed by various stakeholders, such as Senior Management
• Investigating vendor issues and collaborating with Accounts Payable to resolve issues. This can involve research for documentation, following up with Accounts Payable to ensure that vendors have been set up or updated properly and requesting misdirected checks be voided and reissued.
• Updating the monthly template for Drug Development non-real estate leases
• Daily interactions with stakeholder base and participation in conference calls and meetings as needed
• Giving guidance to Divisional Lease Administrators/Drug Development team on lease-related questions and helping troubleshoot lease-related issues.
• Assisting with on-going training of Divisional Lease Administrators/Drug Development team by correcting entries and explaining core procedures as needed, as well as helping individuals navigate through the Lease Administration system and PeopleSoft as needed.
• Other special projects as assigned

• Bachelor's degree in corporate administration, business, finance or similar field

• 3+ years of experience in data analytics, contract administration, accounting, finance or corporate real estate

• Analytic skills
• Excellent oral and written communication skills
• Attention to detail
• Superb organizational skills
• Ability to work independently and within a team to build relationship and interact effectively with real estate, finance, and compliance teams
• Proficiency in Microsoft Office with the capability to master company real estate and database programs.