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**Innovate in Bengaluru** This position is based at our on-site office in Bengaluru. Lowe's offers an ultramodern work environment, complete with cutting-edge technology, collaborative workspaces, an on-site gym and clinic, and other perks to enhance your work experience. **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. **About Lowe’s India** 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 Inventory Reconciliation Team is responsible for conducting comprehensive audits of inventory at Lowe's retail stores and Distribution Centers (DCs). These audits are performed after the U.S.-based teams have completed their physical inventory counts. The primary objective of the reconciliation process is to identify discrepancies—commonly referred to as shrinkage—between the recorded and actual inventory levels. Shrinkage may occur due to a variety of factors, including operational errors, theft, damage, or data inaccuracies. The professionals who carry out these audits are known as Inventory Auditors. Their role involves thoroughly investigating the root causes of shrinkage and implementing corrective actions aimed at minimizing future inventory loss and ensuring the accuracy of inventory records. **Job Summary** The primary objective of this role is to oversee the reconciliation of inventory General Ledger (GL) accounts, ensuring alignment with accounting policies and procedures. The role is responsible for identifying and resolving discrepancies to support accurate financial reporting on a monthly, quarterly, and annual basis in compliance with US Generally Accepted Accounting Principles (US GAAP) and company policies. Key responsibilities include researching, monitoring, and validating inventory-related financial transactions, managing reconciliation processes, and reviewing records to maintain accuracy. Additionally, this role contributes to the development and implementation of internal controls over inventory financial systems and regulatory reporting, exercising independent judgment and leveraging advanced knowledge of US GAAP and regulatory standards in daily operations. **Roles & Responsibilities** **Core Responsibilities:** - Daily Activities - Execute and review month-end and year-end closing procedures related to inventory accounts, ensuring completeness and accuracy of financial statements. - Prepare, analyze, and review inventory account reconciliations and journal entries. - Verify that all inventory financial reports are timely, accurate, and compliant with US GAAP and internal company policies. - Investigate and resolve discrepancies and accounting issues related to inventory operations. - Review vendor invoices related to inventory and ensure prompt payment. - Manage vendor relationships effectively to support smooth transactional processes. - Process Improvement & Compliance: - Identify opportunities to optimize inventory reconciliation processes and implement best practices. - Ensure adherence to internal controls, company policies, and relevant industry standards. - Collaborate with internal and external auditors during periodic audits and reviews. - Team Collaboration & Projects - Mentor and support junior team members, fostering their development and promoting a positive work environment. - Work cross-functionally with other accounting and operations teams to align financial reconciliation practices with overall business objectives. - Lead or support special projects, including system upgrades and ad hoc analyses related to inventory accounting. - Perform assigned inventory-related financial tasks accurately and timely, applying working knowledge of accounting systems, inventory processes, and GAAP principles to routine situations. - Prepare and review routine inventory financial reports and reconciliations to ensure accurate reporting. - Escalate complex or unusual reconciliation issues to senior accountants or managers for further investigation. - Research inventory financial data to resolve issues ranging from straightforward to moderately complex, providing detailed information for senior review. - Support smaller initiatives and contribute to broader finance projects focused on inventory accounting. - Maintain clear communication within the team and across departments to ensure consistency in financial reporting. - Participate in documentation and testing activities to support SOX compliance for inventory controls. - Conduct moderately complex analyses of inventory accounts, including reconciliations, variance investigations, and historical comparisons, supporting close cycles. - Prepare and maintain accurate documentation supporting journal entries and reconciliations for audit readiness. - Assist in preparing variance explanations for inventory accounts during monthly, quart