Operations Lead - finance shared services-8

Job Description

About Lowe s Lowe s Companies, Inc. (NYSE: LOW) is a FORTUNE 50 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2024 sales of more than $83 billion, Lowe s operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe s supports the communities it serves through programs focused on creating safe, affordable housing, improving community spaces, helping to develop the next generation of skilled trade experts and providing disaster relief to communities in need. For more information, visit Lowes.com. About the Team The Inventory Reconciliation Team is responsible for conducting comprehensive audits of inventory at Lowes retail stores and Distribution Centers (DCs). These audits are performed after the U.S.- based teams have completed their physical inventory counts. The primary objective of the reconciliation process is to identify discrepancies commonly referred to as shrinkage between the recorded and actual inventory levels. Shrinkage may occur due to a variety of factors, including operational errors, theft, damage, or data inaccuracies. The professionals who carry out these audits are known as Inventory Auditors. Their role involves thoroughly investigating the root causes of shrinkage and implementing corrective actions aimed at minimizing future inventory loss and ensuring the accuracy of inventory records. Job Summary: The primary responsibility of this role is to lead and manage a team of individual contributors who serve as auditors for Lowes stores and depots. This team plays a crucial role in overseeing inventory adjustments, ensuring that all necessary entries are accurately recorded in the companys financial records. The individual in this role will work closely with the U.S. Store and Distribution Center (DC) teams to resolve any discrepancies or differences that may arise, ensuring that these issues are promptly cleared from the books. The position requires a deep understanding of financial accounting, as it involves ensuring that all business transactions are accurately documented, classified, and reflected within the company s financial statements, in strict compliance with company policies and U.S. Generally Accepted Accounting Principles (US GAAP). This role demands strong analytical skills, a keen eye for detail, and the ability to manage complex accounting processes. The leader must also provide mentorship and guidance to the team, helping them develop professionally and empowering them to take on greater responsibilities within the organization. The successful candidate will be able to navigate and inspire the team, fostering a culture of continuous improvement and high performance in inventory reconciliation and accounting. Roles & Responsibilities: Core Responsibilities: Key Responsibilities Leads a team of individual contributors / auditors by providing direction, feedback, and oversight to ensure a high standard of excellence. Manages the daily operations of the Inventory reconciliation department, prepares and evaluates reports to ensure the accuracy of financial reporting and analysis. Ensures that supporting documents, provisions, and other details for journal entries and account reconciliations are properly maintained and documented before approval. Oversees the accuracy and completeness of Reconciliations and transactions. Supervises, mentors, and develops the team by setting performance goals and conducting r egular performance reviews. Collaborates with the business to understand new transactions or changes and ensures that accounting processes are properly designed and updated in a timely manner. Years of Experience: 8-10 Years Education Qualification & Certifications (optional) Required Minimum Qualifications: Bachelors Degree and Post graduation Skill Set Required Primary Skills (must have) Relevant experience in Inventory Auditing retails accounting, experience with 2-3 years of supervisory role Experience in accounting, inventory management, leadership, problem solving, process improvement, and communication Strong skills in the following areas: RPA, Data Analytics, Ability to handle multiple projects, Attention to detail, Excellent in problem solving, Ability to challenge processes & process related decisions Expertise in MS Tools X And Hands on experience on any ERP & Data warehouse, such as SAP, Oracle, Mainframe etc.