Location Address:
100 Queens Quay East, 9th Floor, Toronto
Number of Openings:
1
Pay
$61,608.00 - $104,956.00
Job Posting Description:
This role is Hybrid #LI-Hybrid
Does the idea of working in a collaborative and face-paced environment interest? Reporting to the Senior Manager Finance, Financial Reporting & Policy/Senior Manager Retail Accounting, your roles as a Financial Analyst (Inventory), will be integral to the financial statement by ensuring inventory accuracy, managing adjustments, and overseeing inventory valuation and reconciliation activities. You will collaborate closely with Logistics division and other key teams to ensure the accuracy, existence, completeness, and valuation of inventory balance.
You will also research the latest International Financial Reporting Standards (IFRS) developments changes impacting inventory methods of valuation. Making recommendations to various business partners to algin to new accounting policies/processes. Your exposure to perpetual inventory system, SAP or other ERP systems, will enable you to contribute to the LCBO Future State Modernization project. In addition, you are required to have inventory valuation experience in Moving Average Cost (MAC) for a periodic inventory system and valuation in perpetual inventory management system. There will be opportunities to work on ad hoc projects and operational activities as directed to meet business partner requirements and other measurable analytics in determining reporting & internal control effectiveness.
If you enjoy in-depth analysis and have a track record of building business relationships while supporting the LCBO's organization-wide financial objectives, then this position is for you!
About the Role
- Monitor and analyze inventory levels, movements and variances across LCBO's Supply Chain, documenting and investigate errors or anomalies in inventory balance.
- Support periodic & year end financial statement reporting for the management team by ensuring the accuracy for cost of the ending inventory and cost of goods sold, ensuring any variances are investigated.
- Work with Logistics division and operations teams to resolve inventory variances, identifying issues like shrinkage, misplacement, or data errors.
- Analyze trends in inventory costs and areas for improvement in inventory management, including fluctuations in purchase prices and transportation expenses (inbound and outbound).
- Prepare regular inventory journal entries, valuation reports, including valuation summaries, reconciliations, and any adjustments made during the period.
- Collaborate with key stakeholders to ensure accurate and timely reporting of inventory values in the company's financial statements.
- Provide necessary documentation and support for internal and external audits related to inventory valuation.
- Work closely with LCBO's Future State Modernization (FSM) project team on the rolling out of perpetual inventory management system in SAP. Collaborate with IT and business teams to optimize core Finance functionalities for inventory and financial processes.
- Develop and implement best practices for inventory management and financial accuracy, ensuring compliance to internal control standards while supporting internal and external audit requests.
- Provide strong technical leadership and guidance to department staff members and project teams to improve processes and enhanced financial reporting controls for inventory valuation.
- Work on various ad hoc projects and operational activities, including participating in system upgrades, testing, and enhancements involving Finance related systems.
About You
- Post-secondary education in financial or business field and/or equivalent working experience.
- Chartered Professional Accountant (CPA) designation or equivalent.
- Demonstrated experience in dealing with and applying IFRS/IASs.
- 3-5 years experience in inventory/financial analysis, preferably in a retail environment.
- External reporting experience in Retail field area, with the ability to draft external financial statement in accordance with IFRS standards.
- Proficient in Excel and Access, Power BI, SAP, Oracle and/or other ERP systems.
- Strong Financial modelling skills and knowledge working with financial reporting systems, in support of periodic commentary for management decision support.
- Ability to manage many tasks and competing priorities with proficiency to employ financial analysis, reporting techniques and always be best in class.
- Analytical and critical thinking skills, along with excellent verbal and written communication skills, with proven track record to effectively work in a team environment.
- Ability to quickly adapt to change and build and sustain business relationships.
- A fast-paced initiative-taker with ability to manage multiple projects and deliver results under tight timelines.
We offer a comprehensive suite of benefits, including access to an Employee & Family Assistance Program, a Defined Benefit Pension, discounts on products and services via Workperks, and much more.
There is a world of opportunities at the LCBO…
Join an organization where you can be challenged while achieving your true potential. A place where you can make a positive impact supporting Ontario business and communities. Discover a safe, healthy, diverse, inclusive, and accountable workplace where your wellbeing is our top priority. At the LCBO, your contributions are respected and valued. Be part of our journey as we invest in people and technology to transform an organization. There really is a world of opportunities at the LCBO.
Please submit your resume via Workday by 11:59pm on the deadline date. We appreciate your interest and advise that only those selected for an interview will be contacted.
Work Hours:
36.25
Union / Non-Union:
Non-Union
Job Posting End Date:
January 24, 2025
The LCBO is an equal opportunity employer and committed to providing employment accommodation in accordance with the Ontario Human Rights Code and the Accessibility for Ontarians with Disabilities Act.
