Accounting Manager - Fixed Assets and Leases

Lambda, The Superintelligence Cloud, is a leader in AI cloud infrastructure serving tens of thousands of customers. Our customers range from AI researchers to enterprises and hyperscalers. Lambda's mission is to make compute as ubiquitous as electricity and give everyone the power of superintelligence. One person, one GPU. If you'd like to build the world's best AI cloud, join us. *Note: This position requires flexible presence in both our San Francisco and San Jose offices, a total of 4 days per week; Lambda’s designated work from home day is currently Tuesday. We are seeking an experienced Fixed Asset & Lease Accounting Manager to lead the accounting, controls, and reporting for our capital asset and lease portfolios in a highly capital-intensive infrastructure environment. The company maintains over $1.5B in fixed assets placed into service, more than $200M in Construction in Progress (CIP), and $500M+ in operating Right-of-Use (ROU) assets related to data center leases across 15+ locations in the U.S. and internationally. The majority of our fixed assets consist of GPU compute infrastructure, along with associated racks, cabling, and supporting data center equipment. This role will own the full lifecycle of fixed assets and leases—from capitalization policy and CIP monitoring to depreciation, lease accounting under ASC 842, asset disposals, and audit support. The ideal candidate brings strong technical accounting expertise, operational rigor, and the ability to partner cross-functionally with infrastructure, procurement, and legal teams in a rapidly scaling environment. Key Responsibilities - Fixed Asset Accounting & Controls - Manage accounting and reporting for $1.5B+ in fixed assets including GPU infrastructure, racks, cabling, and related equipment. - Oversee asset capitalization, classification, and useful life determinations in accordance with U.S. GAAP. - Review and approve asset additions, transfers, disposals, and retirements. - Ensure accurate depreciation calculations and reconciliation of the fixed asset subledger to the general ledger. - Maintain and continuously improve capitalization policies and internal controls. - Construction in Progress (CIP) Management - Oversee accounting for $200M+ in CIP related to GPU infrastructure deployments and data center buildouts. - Track asset commissioning and ensure timely capitalization once assets are placed into service. - Partner with engineering, infrastructure, and procurement teams to validate deployment milestones and cost allocations. - Monitor CIP aging and ensure appropriate classification and capitalization timing. - Lease Accounting (ASC 842) - Manage accounting and reporting for $500M+ in Right-of-Use (ROU) assets related to data center leases across 15+ locations. - Ensure compliance with ASC 842 including lease classification, ROU asset and liability calculations, and ongoing lease reassessments. - Abstract lease agreements and identify embedded leases where applicable. - Coordinate with technical accounting for lease modifications, renewals, and terminations. - Maintain lease accounting schedules and support financial reporting disclosures. - Financial Reporting & Audit Support - Prepare fixed asset and lease accounting schedules for monthly, quarterly, and annual close. - Support internal and external audit processes by providing documentation, reconciliations, and analysis. - Assist with financial statement disclosures related to fixed assets, depreciation, and leases. - Partner with tax and finance teams on asset-related reporting requirements. - Asset Lifecycle & Operational Partnership - Collaborate with infrastructure, operations, and procurement teams to ensure accurate tracking of high-value GPU assets. - Support processes for asset tagging, inventory tracking, and periodic physical verification of assets. - Oversee asset retirement and decommissioning processes for technology equipment. - Process Improvement & Systems - Evaluate and enhance fixed