The Financial Analyst at Michaels is responsible for supporting the financial planning, analysis, and reporting functions of the organization. This role involves preparing financial reports, conducting variance analysis, and assisting in budgeting and forecasting processes to help the company achieve its financial objectives.
Major Activities
Financial Planning and Analysis:
- Assist in the development and maintenance of financial models for budgeting, forecasting, and long-term planning.
- Conduct variance analysis to identify trends, risks, and opportunities.
- Provide support for financial analysis and insights to aid in strategic decision-making.
Budgeting and Forecasting:
- Assist in the preparation of annual budgets and periodic forecasts.
- Monitor budget performance and analyze deviations from plan.
- Collaborate with various departments to gather data and ensure accurate forecasting.
Financial Reporting:
- Aid in preparation of monthly, quarterly, and annual financial reports.
- Analyze financial statements and key performance indicators (KPIs).
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:
- Work closely with business unit leaders to understand their financial needs and provide support.
- 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.
- Assist in the implementation of cost control initiatives.
- Track and report on the effectiveness of cost management efforts.
Special Projects:
- Support special financial projects and initiatives as required.
- Provide ad-hoc financial analysis and support to various stakeholders.
Other duties as assigned
Minimum Education
- Bachelor’s Degree in a related field, or equivalent experience
Minimum Special Certifications or Technical Skills
- Strong proficiency in MS Office skills (Work, Excel, PowerPoint, and Access) and financial software (e.g., SAP, Oracle, Hyperion).
Minimum Type of Experience the Job Requires
- Minimum of 2-4 years of experience in financial analysis, preferably in the retail industry.
- Budgeting and financial planning
- Business partnering
- Excellent analytical, problem-solving, and critical-thinking skills.
- Strong communication and presentation skills.
- Ability to work independently and as part of a team.
- Detail-oriented with a high level of accuracy.
- Power BI
Preferred Education
- Bachelor’s degree in a related field
Applicants in the U.S. must satisfy federal, state, and local legal requirements of the job.
