Finance Manager

Eastside Food Cooperative; Minneapolis (MN); On-site; USD 70,000 - 100,000; Full time

Job summary

A leading cooperative in Minneapolis seeks a Finance Manager to oversee financial operations, ensure compliance with GAAP, and manage budgeting processes. The role involves supervising finance staff, preparing financial reports, and participating in the Leadership Team. Ideal candidates will have a strong background in accounting and financial management, excellent communication skills, and leadership abilities.

Qualifications

• Bachelor's Degree in Business Administration or equivalent.
• Two years supervisory, three years management experience preferred.
• Three years accounting experience preferred.

Responsibilities

• Oversee financial management and accounting for the co-op.
• Prepare financial statements and reports for internal and external use.
• Coordinate budgeting and cash management.

Skills

Communication

Leadership

Financial Analysis

Budgeting

Cash Management

Risk Management

Accounting Principles

Excel Skills

Education

Bachelor's Degree in Business Administration

Tools

QuickBooks Online

Job description

PURPOSE

The Finance Manager is responsible for the overall financial management and accounting for the co-op, provides accurate and timely financial reports, and ensures internal controls are in place for all financial functions throughout the co-op. The Finance Manager coordinates and supervises all aspects of the Finance Department, including supervision and training of finance staff, payroll, inventory, and external reviews and / or audits while ensuring compliance with state and federal laws. The Finance Manager participates in budgeting and is a member of the Leadership Team.

ESSENTIAL DUTIES AND RESPONSIBILITES

The following description of work to be performed by this individual is not intended to be all-inclusive. Rather, it focuses on the major tasks that must be accomplished. There are many necessary activities to satisfy any of the following performance guidelines.

Because of the highly sensitive nature of the information handled in this position, all job-related information will be held in strictest confidence unless otherwise directed by the General Manager, or where legally required.

ACCOUNTING

• Ensure maintenance of all accounting systems, internal controls, and records in accordance with GAAP and grocery industry best practices; including all functions and procedures related to daily cash closing, AR / AP, general ledger and payroll.
• Ensure maintenance of all accounting records on an accrual basis.
• Reconcile all balance sheet accounts in a timely manner.
• Ensure up to date, accurate bank reconciliation.
• Responsible for timely and accurate quarterly and annual payroll tax filing.
• Supervise and prepare records for annual financial review and / or audits.
• Responsible for ensuring all aspects of financial reporting and filing of tax returns with local, state, and federal agencies occur in a timely manner.
• Ensure maintenance of all electronic and hard copy records pertaining to Finance. Archive all payroll and accounting records in accordance with State and Federal requirements and internal policies.
• Ensure timely and accurate processing of the biweekly payroll, including the timely payment and funding of the payroll account and all other deposits.
• Ensure the accurate compilation and completion of quarterly store inventories with the Store Operations and Department Managers.
• Train staff in Finance Department, as required.
• Assist the HR Team with updating and maintaining financial training for all staff, particularly with new staff orientation.

REPORTING & BUDGETING

• Communicate accurate and timely financial information to the General Manager, Management Team and Board of Directors.
• Prepare by established deadlines, monthly, quarterly and annual financial statements in multiple formats for internal and external use.
• Prepare all financial analysis and reports as requested / needed by the General Manager, Management Team and / or Finance Committee.
• Work with the General Manager to provide analysis of impact on profit and cash flow of proposed capital expenditures, relocation, expansion or other changes in operations.
• Understand and prepare regular comparison reports using cooperative financial data from Cometrics.
• Coordinate the creation and monitoring of annual budget, including capital and operating budgets.
• Maintain budgeting and forecasting tools as directed by the General Manager.

INVESTMENTS / CASH MANAGEMENT

• Coordinate cash management and ensure adequate cash flow to meet operational needs, informing General Manager of any foreseeable shortfalls.
• Work with the General Manager to investigate sources of financing.
• Proactively work with the banks to ensure FDIC limits are not exceeded.
• Monitor owner investments and repayment bank loans.

LEADERSHIP & SUPERVISION

• Participate in Steering Team, Management Team, and Board of Directors meetings as required by the General Manager.
• Provide support to all departments in their use and understanding of financial information.
• Maintain store standards for prompt, friendly, helpful customer service.
• Hire and evaluate Finance Department positions.
• Working with the HR Department, ensure all store employees receive adequate orientation, safety training, and on-the-job training.
• Ensure all finance employees receive timely and meaningful performance evaluations and are held accountable in accordance with established disciplinary procedures.
• Perform other tasks assigned by the General Manager.

QUALIFICATIONS & EXPERIENCE

EDUCATION

Bachelors Degree in Business Administration, A.S. in Bookkeeping / Accounting or equivalent education and experience.

EXPERIENCE

Experience : Experience in retail operations and financial support services. Two years supervisory, three years management experience and three years accounting experience, preferred.

KNOWLEDGE, SKILLS, & ABILITIES

• An understanding and working knowledge of and ability to apply Generally Accepted Accounting Principles (GAAP)
• Demonstrated skills and abilities with relevant software and accounting systems. Experience with QuickBooks Online desirable.
• Excellent communication skills, written and verbal, active listener.
• Experience analyzing and interpreting financial data
• Experience with budgeting and financial planning
• Experience with cash management
• Experience with risk management preferred
• Excellent MS Excel skills functional knowledge of computer applications, including excellent Microsoft Excel skills
• Demonstrated ability to work well in a transitional organization, as a productive participant in the decision making process
• Knowledge and experience with physical inventories process and calculation
• Ability to train or explain financial concepts to those with limited accounting expertise
• Ability to set achievable timelines and meet the deadlines along the way
• Demonstrated initiative, leadership ability.
• Ability to provide effective leadership for a group especially in facilitating effective group process for planning and implementing team plans and strategies.
• Ability to handle multiple demands.
• Demonstrated ability to follow through on commitments.
• Regular, predictable attendance.
• Willingness to grow to meet the changing requirements of the job.

Important Notice : The job duties, elements, responsibilities, skills, functions, experience, educational factors, and the requirements and conditions listed in this job description are representative only and not exhaustive of the tasks that an employee may be required to perform. Eastside Food Co-op reserves the right to revise this job description at any time and to require employees to perform other tasks as circumstances or conditions of its business, competitive considerations, or the work environment change.

• Knowledge of sustainable agriculture and natural foods.