Retail Finance Manager

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A Retail Finance Manager plays a pivotal role in the financial success of retail operations by overseeing financial planning, budgeting, and analysis. This position requires a deep understanding of retail industry dynamics to optimize financial performance and profitability. Responsibilities typically include managing accounting functions, ensuring compliance with financial regulations, and providing strategic financial insights to support business decisions. Effective Retail Finance Managers collaborate with various departments to streamline financial processes and drive improvements, ultimately enhancing the overall financial health and operational efficiency of the retail organization.

- Bachelor’s degree in Finance, Accounting, Business Administration, or a related field.
- Minimum of 5 years of experience in a finance or accounting role, with at least 2 years in a managerial position.
- Proven experience in retail finance or a similar industry.
- Strong knowledge of financial reporting, budgeting, and forecasting.
- Proficient in financial analysis and variance analysis.
- Experience in cash flow management and financial modeling.
- Knowledge of financial controls and procedures.
- Familiarity with accounting software and enterprise resource planning (ERP) systems.
- Excellent analytical and problem-solving skills.
- Ability to prepare and present comprehensive financial reports to senior management.
- Strong understanding of inventory management and cost-reduction strategies.
- Excellent organizational and time-management skills.
- Strong leadership and team management abilities.
- Effective communication and interpersonal skills.
- Up-to-date knowledge of industry trends, financial regulations, and best practices.
- Experience working with internal and external auditors.
- Ability to review and approve expenditure requests within defined limits.
- Proficiency in Microsoft Office Suite, especially Excel.
- Experience in preparing monthly, quarterly, and annual financial statements.
- Ability to collaborate effectively with other departments.
- Familiarity with tax filing requirements and coordination with tax advisors.
- Demonstrated ability to evaluate and negotiate contracts with vendors and service providers.
- Strong attention to detail and accuracy.
- Certified Public Accountant (CPA) or Chartered Financial Analyst (CFA) designation is a plus.

- Analyze daily sales reports and financial statements for trends and discrepancies.
- Prepare and present financial performance reports to senior management.
- Oversee budgeting and forecasting to ensure accurate financial planning.
- Monitor and manage cash flow for sufficient operational liquidity.
- Conduct variance analysis comparing actual results with budgets and forecasts.
- Implement financial controls and procedures to safeguard company assets.
- Liaise with internal and external auditors for financial regulation compliance.
- Review and approve expenditure requests within designated limits.
- Manage preparation of monthly, quarterly, and annual financial statements.
- Develop strategies to optimize inventory turnover and reduce carrying costs.
- Collaborate with other departments to align financial and operational goals.
- Supervise and mentor finance team members, providing guidance and development.
- Ensure timely and accurate processing of payroll, accounts payable, and receivable.
- Assist in financial evaluations of new business opportunities and projects.
- Oversee reconciliation of general ledger accounts and bank statements.
- Develop financial models to support strategic initiatives and decision-making.
- Maintain up-to-date knowledge of industry trends, financial regulations, and best practices.
- Coordinate with tax advisors for compliance with tax filing requirements.
- Evaluate and negotiate contracts with vendors and service providers for cost savings.
- Prepare ad hoc financial analyses and reports for senior management.

The ideal candidate for the Retail Finance Manager role will possess a Bachelor’s degree in Finance, Accounting, Business Administration, or a related field, with a minimum of 5 years of experience in finance or accounting, including at least 2 years in a managerial capacity. This individual will have a proven track record in retail finance or a similar industry and demonstrate strong knowledge of financial reporting, budgeting, and forecasting. They will excel in financial analysis and variance analysis and have substantial experience in cash flow management and financial modeling. Proficiency in accounting software and ERP systems, along with a robust understanding of financial controls and procedures, is essential. The ideal candidate will be detail-oriented, with excellent analytical and problem-solving skills, capable of preparing and presenting comprehensive financial reports to senior management. They will have a strong understanding of inventory management and cost-reduction strategies, paired with exceptional organizational and time-management abilities. As a proactive and strategic thinker, this individual will forecast financial trends and drive financial performance, demonstrating adaptability in a fast-paced, dynamic work environment. Effective communication and interpersonal skills are crucial as they will present complex financial data to non-financial stakeholders and collaborate effectively across departments. Strong leadership and team management capabilities will be evident, with a focus on mentorship and professional development. Additionally, they will be committed to maintaining up-to-date knowledge of industry trends and financial regulations, ensuring compliance. The ability to evaluate and negotiate contracts to achieve cost savings, coupled with a high level of integrity and ethical conduct, will set this candidate apart. A Certified Public Accountant (CPA) or Chartered Financial Analyst (CFA) designation would be advantageous, underscoring their dedication to continuous professional development and excellence in financial management.

- Analyze daily sales reports and financial statements to identify trends and discrepancies.
- Prepare and present financial performance reports to senior management.
- Oversee budgeting and forecasting processes to ensure accurate financial planning.
- Monitor and manage cash flow, ensuring sufficient liquidity for operations.
- Conduct variance analysis to compare actual results with budgets and forecasts.
- Implement financial controls and procedures to safeguard company assets.
- Liaise with internal and external auditors to ensure compliance with financial regulations.
- Review and approve expenditure requests within designated approval limits.
- Manage the preparation of monthly, quarterly, and annual financial statements.
- Develop and implement strategies to optimize inventory turnover and reduce carrying costs.
- Collaborate with other departments to align financial goals with operational objectives.
- Supervise and mentor finance team members, providing guidance and professional development.
- Ensure timely and accurate processing of payroll, accounts payable, and accounts receivable.
- Assist in financial evaluations of new business opportunities and projects.
- Oversee the reconciliation of general ledger accounts and bank statements.
- Develop financial models to support strategic initiatives and decision-making processes.
- Maintain up-to-date knowledge of industry trends, financial regulations, and best practices.
- Coordinate with tax advisors to ensure compliance with tax filing requirements and regulations.
- Evaluate and negotiate contracts with vendors and service providers to achieve cost savings.
- Prepare ad hoc financial analyses and reports as required by senior management.

- Strong analytical mindset with excellent problem-solving capabilities
- Results-oriented with a focus on driving financial performance
- Proactive and strategic thinker with the ability to forecast financial trends
- Detail-oriented and thorough in financial analysis and reporting
- Effective communicator with the ability to present complex financial data to non-financial stakeholders
- Strong leader with proven team management and mentorship skills
- Highly organized with excellent time-management abilities
- Adaptable to changing priorities and able to manage multiple tasks simultaneously
- Skilled in negotiating and evaluating contracts to achieve cost savings
- Strong understanding of the retail industry and its financial dynamics
- Capable of working collaboratively across various departments
- Reliable decision-maker with keen business acumen
- Efficient in utilizing accounting software and ERP systems
- Committed to continuous professional development and staying informed on industry best practices
- High level of integrity and ethical conduct in financial management
- Ability to thrive in a fast-paced, dynamic work environment
- Motivated by challenges and consistently seeks improvement and optimization
- Excellent interpersonal skills to build and maintain professional relationships
- Strong aptitude for implementing financial controls and ensuring regulatory compliance
- Dedicated to achieving financial goals and contributing to overall company success

- Competitive salary range based on experience and qualifications
- Comprehensive health, dental, and vision insurance plans
- Retirement savings plan with company match
- Paid time off (PTO) including vacation, sick leave, and holidays
- Employee discount on company products and services
- Flexible work schedule and remote work options
- Opportunities for career advancement and professional development
- Performance-based bonuses and incentives
- Tuition reimbursement for continuing education
- Life and disability insurance coverage
- Wellness programs and gym membership discounts
- Paid parental leave and family care benefits
- Commuter benefits and transportation subsidies
- Access to financial planning and counseling services
- Casual dress code and inclusive company culture
- Employee assistance programs (EAP) for personal and professional support
- Company-sponsored social events and team-building activities