IND_Sr Associate

About Lowe’s
Lowe’s is a FORTUNE® 100 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2024 sales of more than $83 billion, Lowe’s operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe’s supports the communities it serves through programs focused on creating safe, affordable housing, improving community spaces, helping to develop the next generation of skilled trade experts and providing disaster relief to communities in need. For more information, visit Lowes.com.

Lowe’s India, the Global Capability Center of Lowe’s Companies Inc., is a hub for driving our technology, business, analytics, and shared services strategy. Based in Bengaluru with over 4,500 associates, it powers innovations across omnichannel retail, AI/ML, enterprise architecture, supply chain, and customer experience. From supporting and launching homegrown solutions to fostering innovation through its Catalyze platform, Lowe’s India plays a pivotal role in transforming home improvement retail while upholding strong commitment to social impact and sustainability. For more information, visit Lowes India

About the Team

The Accounting Department is responsible for ensuring accurate financial management across various functions, including Customer Payments Accounting, Cost and Margin Analysis, Vendor Set-Up and Maintenance, Expenses Payables, Invoice Processing and Capital Assets, and Inventory Accounting. This role involves maintaining and reconciling the General Ledger, ensuring the reporting of accurate balances of P&L and Balance Sheet, processing invoices, and supporting comprehensive Reporting and Analytics to guide business decisions. The department also plays a key role in transforming IT tools and systems to streamline accounting processes, improve data accuracy, and enhance overall efficiency, contributing to the company’s financial integrity and operational success.

Job Summary

We are seeking a detail-oriented and experienced Senior Associate - Accounting to join our accounting team. The candidate will be responsible for managing financial processes related to accounting operations, ensuring compliance with accounting standards, and providing accurate financial reporting. This role requires strong technical accounting skills, analytical thinking, and the ability to work in a dynamic environment. This position is ideal for candidates having good knowledge on application of accounting principles in day to day business.

Roles & Responsibilities:

Core Responsibilities:

• Daily Activities
  • Perform daily, weekly, and monthly reconciliations for  sales, inventory, and cash accounts.
  • Ensure accurate and timely processing of financial data from locations and e-commerce platforms.
  • Process invoices ensuring timely payment to Vendors.
  • Validate and correct the discreapencies in Inventory
  • Identify and resolve discrepancies between system data and actual transactions
• Month-End Close:
  • Support the month-end close process by preparing journal entries, account reconciliations, and balance sheet reviews.
  • Ensure accuracy and compliance with GAAP and company policies.
• Process Improvement:
  • Identify opportunities for process improvements within the accounting function and help implement new processes or systems that enhance efficiency and accuracy.
• Compliance & Audit Support:
  • Ensure adherence to internal controls, company policies, and relevant accounting standards.
  • Assist with external and internal audits by preparing requested documentation and responding to audit queries.
• Team Collaboration:
  • Work closely with other members of the accounting and finance teams, as well as cross-functional departments such as retail operations, IT, and supply chain.
  • Provide guidance and training to junior associates within the team.

Transportation Accounting  

• Ensure timely resolution of all assigned unpaid invoices, disputes, and returns. 
• Complete processing of all assigned invoices with a commitment to established accuracy and productivity standards. 
• Regularly prioritize aging and urgent requests to maintain effective workflow. 
• Adhere to desktop procedures and control protocols during invoice processing. 
• Conduct root cause analyses of errors and implement corrective measures to mitigate future occurrences. 
• Collaborate effectively to manage ad hoc requests and provide necessary support. 
• Maintain open and effective communication channels among various stakeholders to foster an efficient work culture. 
• Follow the escalation matrix, keeping Specialists and Senior Specialists informed of all process changes and escalations. 
• Collaborate with Specialists and Senior Specialists to understand challenges and concerns, proactively identifying and addressing process gaps with relevant stakeholders. 
• Facilitate training for new joiners and assist existing team members to bridge knowledge gaps and enhance overall team performance. 

• Years of Experience:

• Minimum of 2-4 years of experience in accounting, with at least 2 years in retail accounting or a similar role (Preferable).
• Experience in application of accounting principles in day to day business,
• Exposure to accountings standards  (IFRS/ GAAP/AS etc).
• Proficiency in accounting software (e.g., Open Text, People Soft/Oracle,
• Mainframe, POS Systems) and MS Excel (pivot tables, v-lookups, formulas etc.).
• Experience with ERP systems and financial reporting tools.

• Retail industry experience preferred but not required.

Education Qualification & Certifications (optional)

Required Minimum Qualifications:

• Bachelor’s degree in accounting, Finance, or a related field OR
• Master’s degree in Accounting, finance or a related field

Skill Set Required

Primary Skills (must have)

• Attention to Detail: Ability to process high volumes of data with accuracy.
• Analytical Skills: Strong problem-solving skills and the ability to analyze financial data.
• Communication Skills: Excellent written and verbal communication skills, with the ability to present financial information clearly.
• Teamwork: Collaborative mindset and willingness to assist and mentor junior team members. Team player with good communication and interpersonal skills
• Time Management: Strong organizational skills with the ability to prioritize tasks and meet deadlines in a fast-paced environment.

Secondary Skills (desired)

• Ability to work under pressure in a fast-paced dynamic environment.
• Willingness to learn and take on new responsibilities
• Keen eye towards working on process improvements and automations.
• Good Presentation skills to be able to talk confidently with Business partners.
• Knowledge on working on advanced excel and Visualiszation skills such as Power BI/Tableau/ Microstrategy etc., will be an added advantage.

Lowe's is an equal opportunity employer and administers all personnel practices without regard to race, color, religious creed, sex, gender, age, ancestry, national origin, mental or physical disability or medical condition, sexual orientation, gender identity or expression, marital status, military or veteran status, genetic information, or any other category protected under federal, state, or local law.