Best Buy’s is seeking a Financial Recovery Analyst II - Audit to join the Post Audit team. This role conducts audits of Best Buy's merchandise vendors throughout the year to verify agreed upon programs have been properly accounted for and collected. The Financial Recovery Analyst II should possess excellent communication skills; can routinely deal with merchants,our vendor community, and in addition, external audit groups assisting with the process.
Key responsibilities of the Analyst II:
The ability to understand and absorb the functions and processes of multiple elements of the Best Buy Enterprise (including Transportation, Advertising, A/P, Marketing, Accounts Payable, etc.) to accurately audit their operations.
Utilize business acumen to quickly and accurately analyze a wide variety of vendor programs (accruals, promotional allowances,pricing, annual program, etc.) to verify accurate execution and collection. Must be able to quickly sort and comprehend relevant from irrelevant information, and data from large volumes of documentation and information, making sound conclusions from proper interpretation of the facts.
The flexibility to work not only within the framework of Best Buy USA, but to learn the systems and processes of other divisions, including Best Buy Canada, Best Buy Mexico, Magnolia, Pacific Sales and others, to adequately audit theses operations.
The autotomy to make financial decisions after auditing a wide variety of vendors and programs offered by our vendor community utilizing audit guidelines, SOP and policies as guidelines to be adapted to each individual vendor because of the vendor's changing programs and industry norms.
Examines financial data and applies financial tools to identify trends and data anomalies. Makes decision to collect previous uncollected financial considerations and binds the Company into the collection of these funds.
Executes business processes and will be a point of contact for internal and external business teams to answer business questions and conduct ad hoc analysis. May impact accuracy of financials or business analysis through arbitrating of disputed collections.
The ability to reconcile $2Bil in vendor purchases while delivering world-class results in benchmarking amongst our peers in the industry and internally (catch rates greater than 85% to 90% vs. industry averages of 75-80%).
Proficient in applying financial concepts to business situations. Requests or performs research and assesses accounting guidance relative to a set of business facts. Communicates financial impact/issues in simple terms to business partners.
Solid understanding of the functionality of designated financial systems and effects on the financial outcomes. Navigates through various systems to obtain information, creates advanced spreadsheets and performs extensive data mining to formulate decisions impacting the Company’s financials
0-1+ years’ experience in audit related roles including the following disciplines: Accounting, Audit, Finance, Procurement, Tax or Treasury
Intermediate proficiency with MS Excel (VLOOKUPS, pivot tables, etc.) in a professional setting
3+ years’ experience in an audit role (Recovery, Post, etc.)
2+ years of professional experience using MS Excel, Access and Word daily
Bachelor's degree in accounting, finance, economics or business. In lieu of a bachelor's degree, 3+ years of additional experience in an accounting, finance, economics or business-related role.
Demonstrated ability to work independently
Excellent written, verbal and presentation skills Ability to work independently, and provide coaching (e.g. employees, consultants, contractors)
Demonstrated ability to analyze ambiguous situations and formulate, interpret and articulate resulting business decisions.