Finance Manager (Retail) Job Description: Job Title: Finance Manager (Retail/Supermarket) Job Summary: The Finance Manager for Retail/Supermarket will be responsible for managing the financial aspects of the retail business, ensuring profitability, cost control, and operational efficiency. This role requires experience in retail financial management, inventory control, and financial analysis to support business decisions and ensure financial health across all store locations. Key Responsibilities: Financial Reporting & Analysis: - Prepare and present timely and accurate financial statements, including Profit & Loss (P&L) and balance sheets for the retail/supermarket business. - Analyze financial performance, including sales, margins, and operating costs, and identify trends or anomalies. - Provide financial insights and actionable recommendations to senior management to improve profitability and operational efficiency. Budgeting & Forecasting: - Lead the budgeting process for all retail locations, ensuring alignment with the company's strategic goals and targets. Prepare and monitor sales forecasts, expense forecasts, and cash flow projections for the retail business. - Regularly review actual performance against budget, providing detailed variance analysis and corrective action recommendations. Inventory & Cost Control: - Oversee inventory management, ensuring stock levels are optimized to avoid overstocking or stockouts while maximizing profitability. - Implement inventory cost control measures and ensure that inventory losses due to shrinkage, theft, or damage are minimized. - Work closely with procurement and operations to ensure cost-effective purchasing and inventory management practices. Cash Flow Management: - Monitor and manage the cash flow of the retail business, ensuring that sufficient liquidity is available for operations. - Manage and optimize payment terms with suppliers, vendors, and other partners to improve working capital. - Implement strategies to ensure smooth cash collection and timely payments. Financial Compliance & Risk Management: - Ensure compliance with tax laws, accounting standards, and regulatory requirements relevant to the retail industry. - Oversee the preparation and submission of tax returns, ensuring timely and accurate filings. - Identify financial risks and recommend strategies to mitigate potential risks to the business (e.g., pricing, credit, or fraud risks). Profitability & Performance Metrics: - Analyze sales data, customer behavior, and market trends to develop strategies that drive revenue growth and improve margins. - Establish and track key financial and operational performance indicators (KPIs) such as sales per square foot, inventory turnover, gross margin, etc. - Implement and monitor pricing strategies to maximize profitability without sacrificing customer satisfaction. Internal Controls & Audit: - Develop and enforce internal financial controls to safeguard company assets and ensure proper financial management practices. - Coordinate with internal and external auditors to ensure the company is prepared for financial audits and reviews. - Regularly assess and improve accounting processes and systems to increase accuracy and efficiency. Team Leadership & Collaboration: - Lead the finance team in managing daily financial operations and ensuring alignment with company goals. - Collaborate with store managers, procurement, and operations teams to ensure financial goals are met across all locations. - Provide coaching, training, and mentorship to junior finance staff. Strategic Financial Planning: - Support senior management in developing long-term financial strategies, including expansion planning, capital investments, and store performance improvement. - Evaluate new business opportunities, such as store openings, mergers, or acquisitions, by conducting financial due diligence and cost-benefit analyses. Supplier and Vendor Relationship Management: - Work closely with suppliers and vendors to negotiate contracts, payment terms, and pricing to ensure competitive costs. - Review supplier performance and maintain strong relationships to ensure the supply chain runs efficiently and cost-effectively. Skills and Qualifications: - Education: Bachelor's degree in Finance, Accounting, Business Administration, or a related field (Master's degree or professional certifications such as CPA, ACCA, or CMA preferred). - Experience: Minimum of 5-7 years of experience in financial management within the retail or supermarket industry, with at least 2-3 years in a managerial role. Skills: - Strong understanding of retail financial metrics (e.g., sales per square foot, inventory turnover, gross profit margin). - Proficient in financial software (e.g., ERP systems, Excel, or specific retail finance tools). - Knowledge of retail-specific financial management processes such as stock control, pricing strategies, and margin analysis. - Strong analytical skills with the ability to interpret financial data and provide actionable insights. - Excellent communication skills and ability to collaborate with cross-functional teams. - Strong problem-solving skills and attention to detail. Personal Attributes: - Strong leadership skills with the ability to manage a team and influence decision-making. - Ability to work under pressure and meet tight deadlines. - Proactive, with a keen eye for detail and continuous improvement. - Strong interpersonal and negotiation skills. Working Conditions: - Full-time position with standard working hours, but may require additional hours during peak periods such as month-end or year-end closing. - Primarily office-based with occasional visits to retail locations for financial audits, performance reviews, or site assessments. - Occasional travel may be required to coordinate with multiple store locations or vendors.

Africa

Overseas/International

Others

Finance Manager - Retail 

Job Description for Finance Manager - Retail  in Tamaro HR in  Africa Overseas/International Others for (10-12) years of experience. Apply Now!