Business Analyst

A Business Analyst (BA) with an accounting background in the retail industry typically has a broad set of responsibilities that combine financial expertise with strategic analysis to improve business processes and decision-making. Here's a breakdown of the job scope: 1. Financial Analysis and Reporting (to existing company and new company) • Budgeting and Forecasting: Assisting in preparing and analyzing budgets and forecasts, ensuring they align with business goals and financial constraints. • Profitability Analysis: Assessing profit margins, cost structures, cost-cutting measures, capital investments and identifying opportunities for improving profitability. • Cost Control: Monitoring costs, including inventory, supply chain, and operational expenses, and suggesting ways to optimize them. • Variance Analysis: Comparing actual performance against budgeted performance and investigating the reasons behind discrepancies. 2. Data Analysis and Reporting • Retail Metrics: Analyzing key retail performance metrics like sales trends, inventory turnover, and customer behavior. • Transaction Analysis: Reviewing transaction data to understand patterns and identify areas of improvement, such as point-of-sale (POS) data analysis. • Preparing financial reports, budgets, and forecasts to support business decision-making. • Collaborating with the finance team to generate actionable financial insights based on historical data, market trends, and seasonality. 3. Process Improvement • Inventory Management: Analyzing inventory data to optimize stock levels, reduce waste, and improve turnover. • Supply Chain Optimization: Working with supply chain teams to identify inefficiencies and recommend process improvements. • Operational Efficiency: Identifying and recommending process improvements in areas such as procurement, merchandising, or store operations. 4. Cross-Department Collaboration • Liaison Role: Acting as a bridge between accounting, finance, operations, marketing, and other departments, translating business requirements into actionable insights. • Stakeholder Communication: Regularly presenting findings, financial insights, and strategic recommendations to both technical and non-technical stakeholders. 5. Risk Management and Compliance • Financial Compliance: Ensuring that financial operations comply with accounting standards, regulations and internal controls. • Risk Analysis: Identifying financial risks, such as cash flow problems or discrepancies in financial records, and working to mitigate them. • Audit Support: Supporting internal or external audits, especially in areas related to accounting and finance.