diff --git a/apis/v1alpha1/ack-generate-metadata.yaml b/apis/v1alpha1/ack-generate-metadata.yaml
index 0443a2e..2343217 100755
--- a/apis/v1alpha1/ack-generate-metadata.yaml
+++ b/apis/v1alpha1/ack-generate-metadata.yaml
@@ -1,8 +1,8 @@
 ack_generate_info:
-  build_date: "2023-05-15T23:15:50Z"
-  build_hash: 8f3ba427974fd6e769926778d54834eaee3b81a3
-  go_version: go1.19
-  version: v0.26.1
+  build_date: "2023-09-07T01:12:11Z"
+  build_hash: 2f2b5e916c59ae2a793a1cc9f9d7333b197c9549
+  go_version: go1.21.0
+  version: v0.27.0
 api_directory_checksum: 26341f700d12dfcd4033cf4203492fa381daa7b0
 api_version: v1alpha1
 aws_sdk_go_version: v1.44.93
diff --git a/cmd/controller/main.go b/cmd/controller/main.go
index f8cfc53..436b854 100644
--- a/cmd/controller/main.go
+++ b/cmd/controller/main.go
@@ -89,13 +89,14 @@ func main() {
 	}
 
 	mgr, err := ctrlrt.NewManager(ctrlrt.GetConfigOrDie(), ctrlrt.Options{
-		Scheme:             scheme,
-		Port:               port,
-		Host:               host,
-		MetricsBindAddress: ackCfg.MetricsAddr,
-		LeaderElection:     ackCfg.EnableLeaderElection,
-		LeaderElectionID:   awsServiceAPIGroup,
-		Namespace:          ackCfg.WatchNamespace,
+		Scheme:                  scheme,
+		Port:                    port,
+		Host:                    host,
+		MetricsBindAddress:      ackCfg.MetricsAddr,
+		LeaderElection:          ackCfg.EnableLeaderElection,
+		LeaderElectionID:        "ack-" + awsServiceAPIGroup,
+		Namespace:               ackCfg.WatchNamespace,
+		LeaderElectionNamespace: ackCfg.LeaderElectionNamespace,
 	})
 	if err != nil {
 		setupLog.Error(
diff --git a/config/controller/deployment.yaml b/config/controller/deployment.yaml
index a49f3f8..e0de424 100644
--- a/config/controller/deployment.yaml
+++ b/config/controller/deployment.yaml
@@ -29,14 +29,16 @@ spec:
         - "$(AWS_REGION)"
         - --aws-endpoint-url
         - "$(AWS_ENDPOINT_URL)"
-        - --enable-development-logging
-        - "$(ACK_ENABLE_DEVELOPMENT_LOGGING)"
+        - --enable-development-logging=$(ACK_ENABLE_DEVELOPMENT_LOGGING)
         - --log-level
         - "$(ACK_LOG_LEVEL)"
         - --resource-tags
         - "$(ACK_RESOURCE_TAGS)"
         - --watch-namespace
         - "$(ACK_WATCH_NAMESPACE)"
+        - --enable-leader-election=$(ENABLE_LEADER_ELECTION)
+        - --leader-election-namespace
+        - "$(LEADER_ELECTION_NAMESPACE)"
         image: controller:latest
         name: controller
         ports:
@@ -66,6 +68,10 @@ spec:
           value: "info"
         - name: ACK_RESOURCE_TAGS
           value: "services.k8s.aws/controller-version=%CONTROLLER_SERVICE%-%CONTROLLER_VERSION%,services.k8s.aws/namespace=%K8S_NAMESPACE%"
+        - name: ENABLE_LEADER_ELECTION
+          value: "false"
+        - name: LEADER_ELECTION_NAMESPACE
+          value: "ack-system"
         securityContext:
           allowPrivilegeEscalation: false
           privileged: false
diff --git a/config/controller/kustomization.yaml b/config/controller/kustomization.yaml
index 33d5424..3a2ff29 100644
--- a/config/controller/kustomization.yaml
+++ b/config/controller/kustomization.yaml
@@ -6,4 +6,4 @@ kind: Kustomization
 images:
 - name: controller
   newName: public.ecr.aws/aws-controllers-k8s/iam-controller
-  newTag: 1.2.3
+  newTag: 1.2.4
diff --git a/config/rbac/kustomization.yaml b/config/rbac/kustomization.yaml
index eb7df60..d9acdee 100644
--- a/config/rbac/kustomization.yaml
+++ b/config/rbac/kustomization.yaml
@@ -4,4 +4,5 @@ resources:
 - role-reader.yaml
 - role-writer.yaml
 - service-account.yaml
-
+- leader-election-role.yaml
+- leader-election-role-binding.yaml
diff --git a/config/rbac/leader-election-role-binding.yaml b/config/rbac/leader-election-role-binding.yaml
new file mode 100644
index 0000000..c48e3f0
--- /dev/null
+++ b/config/rbac/leader-election-role-binding.yaml
@@ -0,0 +1,14 @@
+---
+apiVersion: rbac.authorization.k8s.io/v1
+kind: RoleBinding
+metadata:
+  namespace: ack-system
+  name: iam-leader-election-rolebinding
+roleRef:
+  apiGroup: rbac.authorization.k8s.io
+  kind: Role
+  name: iam-leader-election-role
+subjects:
+- kind: ServiceAccount
+  name: ack-iam-controller
+  namespace: ack-system
diff --git a/config/rbac/leader-election-role.yaml b/config/rbac/leader-election-role.yaml
new file mode 100644
index 0000000..4cfc205
--- /dev/null
+++ b/config/rbac/leader-election-role.yaml
@@ -0,0 +1,26 @@
+---
+apiVersion: rbac.authorization.k8s.io/v1
+kind: Role
+metadata:
+  name: iam-leader-election-role
+  namespace: ack-system
+rules:
+- apiGroups:
+  - coordination.k8s.io
+  resources:
+  - leases
+  verbs:
+  - get
+  - list
+  - watch
+  - create
+  - update
+  - patch
+  - delete
+- apiGroups:
+  - ""
+  resources:
+  - events
+  verbs:
+  - create
+  - patch
diff --git a/go.mod b/go.mod
index 8f7fdd3..551601c 100644
--- a/go.mod
+++ b/go.mod
@@ -3,14 +3,14 @@ module github.com/aws-controllers-k8s/iam-controller
 go 1.19
 
 require (
-	github.com/aws-controllers-k8s/runtime v0.26.0
+	github.com/aws-controllers-k8s/runtime v0.27.1
 	github.com/aws/aws-sdk-go v1.44.93
 	github.com/go-logr/logr v1.2.3
 	github.com/samber/lo v1.37.0
 	github.com/spf13/pflag v1.0.5
-	k8s.io/api v0.26.1
-	k8s.io/apimachinery v0.26.1
-	k8s.io/client-go v0.26.1
+	k8s.io/api v0.26.8
+	k8s.io/apimachinery v0.26.8
+	k8s.io/client-go v0.26.8
 	sigs.k8s.io/controller-runtime v0.14.5
 )
 
@@ -32,7 +32,7 @@ require (
 	github.com/google/gnostic v0.5.7-v3refs // indirect
 	github.com/google/go-cmp v0.5.9 // indirect
 	github.com/google/gofuzz v1.1.0 // indirect
-	github.com/google/uuid v1.1.2 // indirect
+	github.com/google/uuid v1.3.0 // indirect
 	github.com/imdario/mergo v0.3.12 // indirect
 	github.com/itchyny/gojq v0.12.6 // indirect
 	github.com/itchyny/timefmt-go v0.1.3 // indirect
@@ -54,11 +54,11 @@ require (
 	go.uber.org/multierr v1.6.0 // indirect
 	go.uber.org/zap v1.24.0 // indirect
 	golang.org/x/exp v0.0.0-20220303212507-bbda1eaf7a17 // indirect
-	golang.org/x/net v0.7.0 // indirect
+	golang.org/x/net v0.8.0 // indirect
 	golang.org/x/oauth2 v0.0.0-20220223155221-ee480838109b // indirect
-	golang.org/x/sys v0.5.0 // indirect
-	golang.org/x/term v0.5.0 // indirect
-	golang.org/x/text v0.7.0 // indirect
+	golang.org/x/sys v0.6.0 // indirect
+	golang.org/x/term v0.6.0 // indirect
+	golang.org/x/text v0.8.0 // indirect
 	golang.org/x/time v0.3.0 // indirect
 	gomodules.xyz/jsonpatch/v2 v2.2.0 // indirect
 	google.golang.org/appengine v1.6.7 // indirect
diff --git a/go.sum b/go.sum
index 221d1d2..3ddbea2 100644
--- a/go.sum
+++ b/go.sum
@@ -38,8 +38,8 @@ github.com/alecthomas/template v0.0.0-20190718012654-fb15b899a751/go.mod h1:LOuy
 github.com/alecthomas/units v0.0.0-20151022065526-2efee857e7cf/go.mod h1:ybxpYRFXyAe+OPACYpWeL0wqObRcbAqCMya13uyzqw0=
 github.com/alecthomas/units v0.0.0-20190717042225-c3de453c63f4/go.mod h1:ybxpYRFXyAe+OPACYpWeL0wqObRcbAqCMya13uyzqw0=
 github.com/alecthomas/units v0.0.0-20190924025748-f65c72e2690d/go.mod h1:rBZYJk541a8SKzHPHnH3zbiI+7dagKZ0cgpgrD7Fyho=
-github.com/aws-controllers-k8s/runtime v0.26.0 h1:XKqygFzHSBtM74Ov9IroZbyCVeYei9Eskp4aKbJ2SFw=
-github.com/aws-controllers-k8s/runtime v0.26.0/go.mod h1:jizDzKikL09cueIuA9ZxoZ+4pfn5U7oKW5s/ZAqOA6E=
+github.com/aws-controllers-k8s/runtime v0.27.1 h1:tvJRQDioBFkob0kF4DwgS7MsoXZKwkG5QCHWxFEh+2o=
+github.com/aws-controllers-k8s/runtime v0.27.1/go.mod h1:oSCqCzbzJLUrzv+cx4TIxCuSUvL75ABJmhxBc87IRqc=
 github.com/aws/aws-sdk-go v1.44.93 h1:hAgd9fuaptBatSft27/5eBMdcA8+cIMqo96/tZ6rKl8=
 github.com/aws/aws-sdk-go v1.44.93/go.mod h1:y4AeaBuwd2Lk+GepC1E9v0qOiTws0MIWAX4oIKwKHZo=
 github.com/benbjohnson/clock v1.1.0 h1:Q92kusRqC1XV2MjkWETPvjJVqKetz1OzxZB7mHJLju8=
@@ -163,8 +163,8 @@ github.com/google/pprof v0.0.0-20200229191704-1ebb73c60ed3/go.mod h1:ZgVRPoUq/hf
 github.com/google/pprof v0.0.0-20200430221834-fc25d7d30c6d/go.mod h1:ZgVRPoUq/hfqzAqh7sHMqb3I9Rq5C59dIz2SbBwJ4eM=
 github.com/google/pprof v0.0.0-20200708004538-1a94d8640e99/go.mod h1:ZgVRPoUq/hfqzAqh7sHMqb3I9Rq5C59dIz2SbBwJ4eM=
 github.com/google/renameio v0.1.0/go.mod h1:KWCgfxg9yswjAJkECMjeO8J8rahYeXnNhOm40UhjYkI=
-github.com/google/uuid v1.1.2 h1:EVhdT+1Kseyi1/pUmXKaFxYsDNy9RQYkMWRH68J/W7Y=
-github.com/google/uuid v1.1.2/go.mod h1:TIyPZe4MgqvfeYDBFedMoGGpEw/LqOeaOT+nhxU+yHo=
+github.com/google/uuid v1.3.0 h1:t6JiXgmwXMjEs8VusXIJk2BXHsn+wx8BZdTaoZ5fu7I=
+github.com/google/uuid v1.3.0/go.mod h1:TIyPZe4MgqvfeYDBFedMoGGpEw/LqOeaOT+nhxU+yHo=
 github.com/googleapis/gax-go/v2 v2.0.4/go.mod h1:0Wqv26UfaUD9n4G6kQubkQ+KchISgw+vpHVxEJEs9eg=
 github.com/googleapis/gax-go/v2 v2.0.5/go.mod h1:DWXyrwAJ9X0FpwwEdw+IPEYBICEFu5mhpdKc/us6bOk=
 github.com/hashicorp/golang-lru v0.5.0/go.mod h1:/m3WP610KZHVQ1SGc6re/UDhFvYD7pJ4Ao+sR/qLZy8=
@@ -369,8 +369,8 @@ golang.org/x/net v0.0.0-20201021035429-f5854403a974/go.mod h1:sp8m0HH+o8qH0wwXwY
 golang.org/x/net v0.0.0-20210525063256-abc453219eb5/go.mod h1:9nx3DQGgdP8bBQD5qxJ1jj9UTztislL4KSBs9R2vV5Y=
 golang.org/x/net v0.0.0-20220127200216-cd36cc0744dd/go.mod h1:CfG3xpIq0wQ8r1q4Su4UZFWDARRcnwPjda9FqA0JpMk=
 golang.org/x/net v0.0.0-20220225172249-27dd8689420f/go.mod h1:CfG3xpIq0wQ8r1q4Su4UZFWDARRcnwPjda9FqA0JpMk=
-golang.org/x/net v0.7.0 h1:rJrUqqhjsgNp7KqAIc25s9pZnjU7TUcSY7HcVZjdn1g=
-golang.org/x/net v0.7.0/go.mod h1:2Tu9+aMcznHK/AK1HMvgo6xiTLG5rD5rZLDS+rp2Bjs=
+golang.org/x/net v0.8.0 h1:Zrh2ngAOFYneWTAIAPethzeaQLuHwhuBkuV6ZiRnUaQ=
+golang.org/x/net v0.8.0/go.mod h1:QVkue5JL9kW//ek3r6jTKnTFis1tRmNAW2P1shuFdJc=
 golang.org/x/oauth2 v0.0.0-20180821212333-d2e6202438be/go.mod h1:N/0e6XlmueqKjAGxoOufVs8QHGRruUQn6yWY3a++T0U=
 golang.org/x/oauth2 v0.0.0-20190226205417-e64efc72b421/go.mod h1:gOpvHmFTYa4IltrdGE7lF6nIHvwfUNPOp7c8zoXwtLw=
 golang.org/x/oauth2 v0.0.0-20190604053449-0f29369cfe45/go.mod h1:gOpvHmFTYa4IltrdGE7lF6nIHvwfUNPOp7c8zoXwtLw=
@@ -431,12 +431,12 @@ golang.org/x/sys v0.0.0-20211124211545-fe61309f8881/go.mod h1:oPkhp1MJrh7nUepCBc
 golang.org/x/sys v0.0.0-20211216021012-1d35b9e2eb4e/go.mod h1:oPkhp1MJrh7nUepCBck5+mAzfO9JrbApNNgaTdGDITg=
 golang.org/x/sys v0.0.0-20220114195835-da31bd327af9/go.mod h1:oPkhp1MJrh7nUepCBck5+mAzfO9JrbApNNgaTdGDITg=
 golang.org/x/sys v0.0.0-20220908164124-27713097b956/go.mod h1:oPkhp1MJrh7nUepCBck5+mAzfO9JrbApNNgaTdGDITg=
-golang.org/x/sys v0.5.0 h1:MUK/U/4lj1t1oPg0HfuXDN/Z1wv31ZJ/YcPiGccS4DU=
-golang.org/x/sys v0.5.0/go.mod h1:oPkhp1MJrh7nUepCBck5+mAzfO9JrbApNNgaTdGDITg=
+golang.org/x/sys v0.6.0 h1:MVltZSvRTcU2ljQOhs94SXPftV6DCNnZViHeQps87pQ=
+golang.org/x/sys v0.6.0/go.mod h1:oPkhp1MJrh7nUepCBck5+mAzfO9JrbApNNgaTdGDITg=
 golang.org/x/term v0.0.0-20201126162022-7de9c90e9dd1/go.mod h1:bj7SfCRtBDWHUb9snDiAeCFNEtKQo2Wmx5Cou7ajbmo=
 golang.org/x/term v0.0.0-20210927222741-03fcf44c2211/go.mod h1:jbD1KX2456YbFQfuXm/mYQcufACuNUgVhRMnK/tPxf8=
-golang.org/x/term v0.5.0 h1:n2a8QNdAb0sZNpU9R1ALUXBbY+w51fCQDN+7EdxNBsY=
-golang.org/x/term v0.5.0/go.mod h1:jMB1sMXY+tzblOD4FWmEbocvup2/aLOaQEp7JmGp78k=
+golang.org/x/term v0.6.0 h1:clScbb1cHjoCkyRbWwBEUZ5H/tIFu5TAXIqaZD0Gcjw=
+golang.org/x/term v0.6.0/go.mod h1:m6U89DPEgQRMq3DNkDClhWw02AUbt2daBVO4cn4Hv9U=
 golang.org/x/text v0.0.0-20170915032832-14c0d48ead0c/go.mod h1:NqM8EUOU14njkJ3fqMW+pc6Ldnwhi/IjpwHt7yyuwOQ=
 golang.org/x/text v0.3.0/go.mod h1:NqM8EUOU14njkJ3fqMW+pc6Ldnwhi/IjpwHt7yyuwOQ=
 golang.org/x/text v0.3.1-0.20180807135948-17ff2d5776d2/go.mod h1:NqM8EUOU14njkJ3fqMW+pc6Ldnwhi/IjpwHt7yyuwOQ=
@@ -444,8 +444,8 @@ golang.org/x/text v0.3.2/go.mod h1:bEr9sfX3Q8Zfm5fL9x+3itogRgK3+ptLWKqgva+5dAk=
 golang.org/x/text v0.3.3/go.mod h1:5Zoc/QRtKVWzQhOtBMvqHzDpF6irO9z98xDceosuGiQ=
 golang.org/x/text v0.3.6/go.mod h1:5Zoc/QRtKVWzQhOtBMvqHzDpF6irO9z98xDceosuGiQ=
 golang.org/x/text v0.3.7/go.mod h1:u+2+/6zg+i71rQMx5EYifcz6MCKuco9NR6JIITiCfzQ=
-golang.org/x/text v0.7.0 h1:4BRB4x83lYWy72KwLD/qYDuTu7q9PjSagHvijDw7cLo=
-golang.org/x/text v0.7.0/go.mod h1:mrYo+phRRbMaCq/xk9113O4dZlRixOauAjOtrjsXDZ8=
+golang.org/x/text v0.8.0 h1:57P1ETyNKtuIjB4SRd15iJxuhj8Gc416Y78H3qgMh68=
+golang.org/x/text v0.8.0/go.mod h1:e1OnstbJyHTd6l/uOt8jFFHp6TRDWZR/bV3emEE/zU8=
 golang.org/x/time v0.0.0-20181108054448-85acf8d2951c/go.mod h1:tRJNPiyCQ0inRvYxbN9jk5I+vvW/OXSQhTDSoE431IQ=
 golang.org/x/time v0.0.0-20190308202827-9d24e82272b4/go.mod h1:tRJNPiyCQ0inRvYxbN9jk5I+vvW/OXSQhTDSoE431IQ=
 golang.org/x/time v0.0.0-20191024005414-555d28b269f0/go.mod h1:tRJNPiyCQ0inRvYxbN9jk5I+vvW/OXSQhTDSoE431IQ=
@@ -609,14 +609,14 @@ honnef.co/go/tools v0.0.0-20190523083050-ea95bdfd59fc/go.mod h1:rf3lG4BRIbNafJWh
 honnef.co/go/tools v0.0.1-2019.2.3/go.mod h1:a3bituU0lyd329TUQxRnasdCoJDkEUEAqEt0JzvZhAg=
 honnef.co/go/tools v0.0.1-2020.1.3/go.mod h1:X/FiERA/W4tHapMX5mGpAtMSVEeEUOyHaw9vFzvIQ3k=
 honnef.co/go/tools v0.0.1-2020.1.4/go.mod h1:X/FiERA/W4tHapMX5mGpAtMSVEeEUOyHaw9vFzvIQ3k=
-k8s.io/api v0.26.1 h1:f+SWYiPd/GsiWwVRz+NbFyCgvv75Pk9NK6dlkZgpCRQ=
-k8s.io/api v0.26.1/go.mod h1:xd/GBNgR0f707+ATNyPmQ1oyKSgndzXij81FzWGsejg=
+k8s.io/api v0.26.8 h1:k2OtFmQPWfDUyAuYAwQPftVygF/vz4BMGSKnd15iddM=
+k8s.io/api v0.26.8/go.mod h1:QaflR7cmG3V9lIz0VLBM+ylndNN897OAUAoJDcgwiQw=
 k8s.io/apiextensions-apiserver v0.26.1 h1:cB8h1SRk6e/+i3NOrQgSFij1B2S0Y0wDoNl66bn8RMI=
 k8s.io/apiextensions-apiserver v0.26.1/go.mod h1:AptjOSXDGuE0JICx/Em15PaoO7buLwTs0dGleIHixSM=
-k8s.io/apimachinery v0.26.1 h1:8EZ/eGJL+hY/MYCNwhmDzVqq2lPl3N3Bo8rvweJwXUQ=
-k8s.io/apimachinery v0.26.1/go.mod h1:tnPmbONNJ7ByJNz9+n9kMjNP8ON+1qoAIIC70lztu74=
-k8s.io/client-go v0.26.1 h1:87CXzYJnAMGaa/IDDfRdhTzxk/wzGZ+/HUQpqgVSZXU=
-k8s.io/client-go v0.26.1/go.mod h1:IWNSglg+rQ3OcvDkhY6+QLeasV4OYHDjdqeWkDQZwGE=
+k8s.io/apimachinery v0.26.8 h1:SzpGtRX3/j/Ylg8Eg65Iobpxi9Jz4vOvI0qcBZyPVrM=
+k8s.io/apimachinery v0.26.8/go.mod h1:qYzLkrQ9lhrZRh0jNKo2cfvf/R1/kQONnSiyB7NUJU0=
+k8s.io/client-go v0.26.8 h1:pPuTYaVtLlg/7n6rqs3MsKLi4XgNaJ3rTMyS37Y5CKU=
+k8s.io/client-go v0.26.8/go.mod h1:1sBQqKmdy9rWZYQnoedpc0gnRXG7kU3HrKZvBe2QbGM=
 k8s.io/component-base v0.26.1 h1:4ahudpeQXHZL5kko+iDHqLj/FSGAEUnSVO0EBbgDd+4=
 k8s.io/component-base v0.26.1/go.mod h1:VHrLR0b58oC035w6YQiBSbtsf0ThuSwXP+p5dD/kAWU=
 k8s.io/klog/v2 v2.80.1 h1:atnLQ121W371wYYFawwYx1aEY2eUfs4l3J72wtgAwV4=
diff --git a/helm/Chart.yaml b/helm/Chart.yaml
index 86ecc82..976174b 100644
--- a/helm/Chart.yaml
+++ b/helm/Chart.yaml
@@ -1,8 +1,8 @@
 apiVersion: v1
 name: iam-chart
 description: A Helm chart for the ACK service controller for AWS Identity & Access Management (IAM)
-version: 1.2.3
-appVersion: 1.2.3
+version: 1.2.4
+appVersion: 1.2.4
 home: https://github.com/aws-controllers-k8s/iam-controller
 icon: https://raw.githubusercontent.com/aws/eks-charts/master/docs/logo/aws.png
 sources:
diff --git a/helm/templates/NOTES.txt b/helm/templates/NOTES.txt
index 9107c31..a000cd6 100644
--- a/helm/templates/NOTES.txt
+++ b/helm/templates/NOTES.txt
@@ -1,5 +1,5 @@
 {{ .Chart.Name }} has been installed.
-This chart deploys "public.ecr.aws/aws-controllers-k8s/iam-controller:1.2.3".
+This chart deploys "public.ecr.aws/aws-controllers-k8s/iam-controller:1.2.4".
 
 Check its status by running:
   kubectl --namespace {{ .Release.Namespace }} get pods -l "app.kubernetes.io/instance={{ .Release.Name }}"
diff --git a/helm/templates/deployment.yaml b/helm/templates/deployment.yaml
index 7504a61..77a67ea 100644
--- a/helm/templates/deployment.yaml
+++ b/helm/templates/deployment.yaml
@@ -18,10 +18,12 @@ spec:
       app.kubernetes.io/instance: {{ .Release.Name }}
   template:
     metadata:
+{{- if .Values.deployment.annotations }}
       annotations:
       {{- range $key, $value := .Values.deployment.annotations }}
         {{ $key }}: {{ $value | quote }}
       {{- end }}
+{{- end }}
       labels:
         app.kubernetes.io/name: {{ include "app.name" . }}
         app.kubernetes.io/instance: {{ .Release.Name }}
@@ -47,7 +49,7 @@ spec:
         - --aws-endpoint-url
         - "$(AWS_ENDPOINT_URL)"
         - --enable-development-logging
-        - "$(ACK_ENABLE_DEVELOPMENT_LOGGING)"
+        - "$(ENABLE_DEVELOPMENT_LOGGING)"
         - --log-level
         - "$(ACK_LOG_LEVEL)"
         - --resource-tags
@@ -56,6 +58,10 @@ spec:
         - "$(ACK_WATCH_NAMESPACE)"
         - --deletion-policy
         - "$(DELETION_POLICY)"
+        - --enable-leader-election
+        - "$(ENABLE_LEADER_ELECTION)"
+        - --leader-election-namespace
+        - "$(LEADER_ELECTION_NAMESPACE)"
 {{- if gt .Values.reconcile.defaultResyncPeriod 0.0 }}
         - --reconcile-default-resync-seconds
         - "$(RECONCILE_DEFAULT_RESYNC_SECONDS)"
@@ -85,6 +91,10 @@ spec:
           value: {{ include "watch-namespace" . }}
         - name: DELETION_POLICY
           value: {{ .Values.deletionPolicy }}
+        - name: ENABLED_LEADER_ELECTION
+          value: {{ .Values.leaderElection.enabled | quote }}
+        - name: LEADER_ELECTION_NAMESPACE
+          value: {{ .Values.leaderElection.namespace | quote }}
         - name: ACK_ENABLE_DEVELOPMENT_LOGGING
           value: {{ .Values.log.enable_development_logging | quote }}
         - name: ACK_LOG_LEVEL
@@ -104,11 +114,19 @@ spec:
           value: {{ include "aws.credentials.path" . }}
         - name: AWS_PROFILE
           value: {{ .Values.aws.credentials.profile }}
+        {{- end }}
+        {{- if .Values.deployment.extraEnvVars -}}
+          {{ toYaml .Values.deployment.extraEnvVars | nindent 8 }}
+        {{- end }}
         volumeMounts:
+        {{- if .Values.aws.credentials.secretName }}
           - name: {{ .Values.aws.credentials.secretName }}
             mountPath: {{ include "aws.credentials.secret_mount_path" . }}
             readOnly: true
         {{- end }}
+        {{- if .Values.deployment.extraVolumeMounts -}}
+          {{ toYaml .Values.deployment.extraVolumeMounts | nindent 12 }}
+        {{- end }}
         securityContext:
           allowPrivilegeEscalation: false
           privileged: false
@@ -133,9 +151,12 @@ spec:
       hostIPC: false
       hostNetwork: false
       hostPID: false
-      {{ if .Values.aws.credentials.secretName -}}
       volumes:
+      {{- if .Values.aws.credentials.secretName -}}
         - name: {{ .Values.aws.credentials.secretName }}
           secret:
             secretName: {{ .Values.aws.credentials.secretName }}
       {{ end -}}
+{{- if .Values.deployment.extraVolumes }}
+{{ toYaml .Values.deployment.extraVolumes | indent 8}}
+{{- end }}
diff --git a/helm/templates/leader-election-role-binding.yaml b/helm/templates/leader-election-role-binding.yaml
new file mode 100644
index 0000000..1647885
--- /dev/null
+++ b/helm/templates/leader-election-role-binding.yaml
@@ -0,0 +1,18 @@
+{{ if .Values.leaderElection.enabled }}
+apiVersion: rbac.authorization.k8s.io/v1
+kind: RoleBinding
+metadata:
+  name: iam-leader-election-rolebinding
+{{ if .Values.leaderElection.namespace }}
+  namespace: {{ .Values.leaderElection.namespace }}
+{{ else }}
+  namespace: {{ .Release.Namespace }}
+{{ end }}
+roleRef:
+  apiGroup: rbac.authorization.k8s.io
+  kind: Role
+  name: iam-leader-election-role
+subjects:
+- kind: ServiceAccount
+  name: ack-iam-controller
+  namespace: {{ .Release.Namespace }}{{- end }}
diff --git a/helm/templates/leader-election-role.yaml b/helm/templates/leader-election-role.yaml
new file mode 100644
index 0000000..bd19834
--- /dev/null
+++ b/helm/templates/leader-election-role.yaml
@@ -0,0 +1,30 @@
+{{ if .Values.leaderElection.enabled }}
+apiVersion: rbac.authorization.k8s.io/v1
+kind: Role
+metadata:
+  name: iam-leader-election-role
+{{ if .Values.leaderElection.namespace }}
+  namespace: {{ .Values.leaderElection.namespace }}
+{{ else }}
+  namespace: {{ .Release.Namespace }}
+{{ end }}
+rules:
+- apiGroups:
+  - coordination.k8s.io
+  resources:
+  - leases
+  verbs:
+  - get
+  - list
+  - watch
+  - create
+  - update
+  - patch
+  - delete
+- apiGroups:
+  - ""
+  resources:
+  - events
+  verbs:
+  - create
+  - patch{{- end }}
diff --git a/helm/values.schema.json b/helm/values.schema.json
index 79fd18c..cba0a35 100644
--- a/helm/values.schema.json
+++ b/helm/values.schema.json
@@ -58,6 +58,15 @@
         },
         "priorityClassName": {
           "type": "string"
+        },
+        "extraVolumeMounts": {
+          "type": "array"
+        },
+        "extraVolumes": {
+          "type": "array"
+        },
+        "extraEnvVars": {
+          "type": "array"
         }
       },
       "required": [
@@ -222,6 +231,18 @@
       },
       "type": "object"
     },
+    "leaderElection": {
+      "description": "Parameter to configure the controller's leader election system.",
+      "properties": {
+        "enabled": {
+          "type": "boolean"
+        },
+        "namespace": {
+          "type": "string"
+        }
+      },
+      "type": "object"
+    },
     "serviceAccount": {
       "description": "ServiceAccount settings",
       "properties": {
diff --git a/helm/values.yaml b/helm/values.yaml
index 331d7cc..7c56a3b 100644
--- a/helm/values.yaml
+++ b/helm/values.yaml
@@ -4,7 +4,7 @@
 
 image:
   repository: public.ecr.aws/aws-controllers-k8s/iam-controller
-  tag: 1.2.3
+  tag: 1.2.4
   pullPolicy: IfNotPresent
   pullSecrets: []
 
@@ -28,6 +28,26 @@ deployment:
   # Which priorityClassName to set?
   # See: https://kubernetes.io/docs/concepts/scheduling-eviction/pod-priority-preemption/#pod-priority
   priorityClassName: ""
+  extraVolumes: []
+  extraVolumeMounts: []
+
+  # Additional server container environment variables
+  #
+  # You specify this manually like you would a raw deployment manifest.
+  # This means you can bind in environment variables from secrets.
+  #
+  # e.g. static environment variable:
+  #  - name: DEMO_GREETING
+  #    value: "Hello from the environment"
+  #
+  # e.g. secret environment variable:
+  # - name: USERNAME
+  #   valueFrom:
+  #     secretKeyRef:
+  #       name: mysecret
+  #       key: username
+  extraEnvVars: []
+
 
 # If "installScope: cluster" then these labels will be applied to ClusterRole
 role:
@@ -90,7 +110,7 @@ deletionPolicy: delete
 # controller reconciliation configurations
 reconcile:
   # The default duration, in seconds, to wait before resyncing desired state of custom resources.
-  defaultResyncPeriod: 0
+  defaultResyncPeriod: 36000 # 10 Hours
   # An object representing the reconcile resync configuration for each specific resource.
   resourceResyncPeriods: {}
 
@@ -101,3 +121,15 @@ serviceAccount:
   name: ack-iam-controller
   annotations: {}
     # eks.amazonaws.com/role-arn: arn:aws:iam::AWS_ACCOUNT_ID:role/IAM_ROLE_NAME
+
+# Configuration of the leader election. Required for running multiple instances of the
+# controller within the same cluster.
+# See https://kubernetes.io/docs/concepts/architecture/leases/#leader-election
+leaderElection:
+  # Enable Controller Leader Election. Set this to true to enable leader election
+  # for this controller.
+  enabled: false
+  # Leader election can be scoped to a specific namespace. By default, the controller
+  # will attempt to use the namespace of the service account mounted to the Controller
+  # pod.
+  namespace: ""