Support Center - Irving
The Sr Financial Analyst at Michaels is responsible for providing comprehensive financial analysis, reporting, and strategic insights to support business decisions and drive financial performance. This role involves detailed financial modeling, budgeting, forecasting, and performance analysis to help the organization achieve its financial goals.
Major Activities
Financial Planning and Analysis:
- Develop and maintain financial models to support strategic initiatives, new store openings, product/category analysis, and promotional planning.
- Conduct variance analysis to identify trends, risks, and opportunities.
- Provide detailed financial analysis and insights to support strategic decision-making.
Budgeting and Forecasting:
- Support the preparation of annual budgets and rolling forecasts.
- Monitor budget performance and analyze deviations from plan.
- Collaborate with various departments to gather data and ensure accurate forecasting.
Financial Reporting:
- Prepare and distribute financial reports for senior leadership and stakeholders.
- Analyze financial results, key performance indicators (KPIs), and variances against plan; provide actionable insights and recommendations. Develop and distribute management reports to support business operations.
Performance Analysis:
- Evaluate financial performance by comparing and analyzing actual results with plans and forecasts.
- Conduct profitability analysis of products, services, and business units.
- Identify and communicate financial trends and potential issues.
Business Partnering:
- Partner with cross-functional teams to understand business drivers and align financial goals.
- Participate in cross-functional projects to drive business improvements.
- Provide financial insights and recommendations to enhance business performance.
Cost Management:
- Analyze and monitor cost structures to identify cost-saving opportunities.
- Support the implementation of cost control initiatives.
- Track and report on the effectiveness of cost management efforts.
Special Projects:
- Lead or support special financial projects and initiatives as required.
- Provide ad-hoc financial analysis and support to various stakeholders.
Other duties as assigned
Preferred Education/Experience
- Bachelor’s Degree in Finance, Accounting, Economics or a related field
- Advanced proficiency in MS Office skills (Work, Excel, PowerPoint, and Access) and financial software (e.g., SAP, Oracle, Hyperion)
Minimum Type of Experience Required
- 5 years of finance experience in an FP&A function
- Strong understanding of financial statements with experience with forecasting and financial reporting
- Advanced excel skills and financial modeling required
- Excellent communication skills with the ability to present complex information clearly and concisely
- Proven experience collaborating with business teams and presenting to senior leadership
- Comfortable working in a fast-paced environment with evolving priorities
- Power BI experience
Other
- Knowledge of Essbase and/or Oracle Financials
- Prior retail experience a plus
