Senior Financial Analyst

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 for budgeting, forecasting, and long-term 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 periodic forecasts.
• Monitor budget performance and analyze deviations from plan.
• Collaborate with various departments to gather data and ensure accurate forecasting.

Financial Reporting:

• Prepare monthly, quarterly, and annual financial reports for senior management.
• Analyze financial statements and key performance indicators (KPIs).
• 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:

• 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.
• 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

Minimum Education

• Bachelor’s Degree in a related field, or equivalent experience

Minimum Special Certifications or Technical Skills

• Advanced 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

• 5+ years of finance experience
• Fluent in financial statement analysis with experience in forecasting and financial reporting
• Excellent spreadsheet skills required along with strong financial and data management acumen
• Excellent oral and written communication skills.
• Business partnering
• Ability to work independently and in a group environment.
• Must be business minded, with a desire to drive business performance and financial results.
• Strong proficiency in financial modeling, forecasting, and analysis.
• Excellent analytical, problem-solving, and critical-thinking skills.

Preferred Education

• Bachelor’s degree in a related field

Preferred Special Certifications or Technical Skills

• Knowledge of Essbase and/or Oracle Financials