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Retail Finance Intern
New Balance
Lawrence, MA, United States
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Overview
New Balance has a history of 100 years of enduring performance and is still running strong today. Part of what makes New Balance so unique is our commitment to making products that not only provide performance, but also superior fit and comfort. The same attention that is placed on our athletic shoes and apparel is also placed on our associates. New Balance thrives because of the passion and dedication of the people we hire. We rely on our associates to match our enthusiasm for the business and to help drive consumers to move further, faster and more frequently. We seek associates who are always on the move. Associates who push themselves forward and are motivated to move New Balance forward. Ask yourself: Are you ready to move the world?
Responsibilities
The position will be a project based assignment which will be mainly focused on the creation of standard operating procedures. The intern will also be responsible for documentation of the end to end financial close process for the retail division. The intern will also be responsible for documentation of key processes within the retail division such as new store openings and sales audit guidelines.
Responsibilities
• Map out from beginning to end the entire retail close process & framework out the entire process
• Work specifically with each area of finance (FP&A, inventory & sales) to complete specific SOP documentation on each process through a specific template which will follow each JE and document the purpose, scope, prerequisites, responsibilities, procedure, references & definitions
• In addition the position will also require the documentation/SOP of key tasks within the retail function:
◦ Inventory:
# Setup of new stores/vendors
# Inventory count (Cycle count & style)
# Inventory turn analysis
# On-hand inventory reports
# Physical Inventory
# Weekly inventory reports, aging reports
# UDA & KPI monthly KPI package
◦ Sales:
# Store setups (bank accounts, Chase, Armor guard services, business licenses, etc)
# Reconciliations (bank rec’s, cash rec’s, AMEX, personal property tax, Gift Cards)
# Sales audit
# CAR setup of new stores
# Filing/tracking of business licensees
# Reporting of sales to landlords
Qualifications
Education Requirements
• Completed two years of college
• Intern pursuing Business, Finance or Operational Degree
Skills/Experience
• Well organized and disciplined in project work and framing complex systems/processes
• Works well with others to gather data, summarize and presents in a concise and easy to understand fashion (even to non-finance individuals)
• Proficient in Microsoft Excel (pivot tables, V-Look-ups) and PowerPoint
• Work independently and successfully in a cross-functional team environment.
• Excellent communication skills