Capital Planning Analyst II

This position can be based in Cincinnati.

The Analyst II, Capital Planning will prepare and analyze Capital Expenditure Requests (CERs) to ensure Macy’s, Inc. is making financially sound investments. The Analyst will also support the Senior in tracking capital investments and provide independent assessments of actual vs. expected performance of capital projects. Reporting to the Chief Financial Officer and other Corporate Strategy Group members, the Analyst prepares the annual summary of capital project tracking for the Board of Directors.

The role requires extensive coordination across departments such as Store Environment, Real Estate, Area Research, Stores, Merchants, Tax, and Capital Control.

• Prepare CERs and senior management memos.
• Build and adapt financial models, involving highly ad‑hoc analysis.
• Develop relationships with key partners to ensure timely and accurate input for CERs.
• Provide regular updates on actual vs. expected performance for capital projects (stores, remodels, merchandising, digital investments, strategic initiatives).
• Develop and summarize the annual capital tracking report for the Macy's Finance Team.
• Collaborate with Store Environment, Area Research, Real Estate, Capital Control, Merchandising, Supply Chain, Tax, Digital and Stores leadership to evaluate baseline assumptions, costs and economic factors.
• Manage and update global assumptions in CERs to ensure consistency and accuracy.
• Provide recommendations to guide future capital investment decisions.
• Provide financial modeling support and evaluate investment opportunities.
• Maintain various reports and complete ad‑hoc projects as assigned.

• Capital Planning & Governance: Knowledge of capital approval processes, project tracking, documentation, and stage‑gate readiness.
• Financial Modeling (DCF): Build and interpret discounted cash‑flow models (NPV, IRR, Payback), develop assumptions, and perform sensitivity/scenario analysis.
• Forecasting & Variance Analysis: Consolidate forecasts, validate inputs, and explain variances to support enterprise‑wide capital investment tracking.
• Advanced Excel & Automation: Advanced proficiency in Excel and ability to automate recurring reporting (Power Query/Power Pivot, complex formulas, pivot tables; VBA a plus).
• Executive Communication (PowerPoint): Distill complex analyses into clear, concise updates and board‑ready materials; strong PowerPoint proficiency required.
• Cross‑Functional
  
  Collaboration:
  
  Partner with Store Environment, Real Estate, Area Research, Stores, Merchandising, Tax, and Capital Control to coordinate and validate submissions.
• Analytical & Quantitative
  
  Skills:
  
  Strong analytical/problem‑solving skills, above‑average math aptitude, familiarity with basic statistical concepts.
• Organization & Judgment: Manage multiple priorities, meet deadlines, work independently while exercising sound judgment and attention to detail.

• Bachelor’s degree or equivalent work experience in a related field (minimum 2 years of relevant experience preferred).
• Ability to perform physical tasks such as sitting, talking, hearing, using hands/fingers; occasional movement and reaching required; requires close vision.
• Flexible scheduling and comfortable working in a dynamic environment with evolving priorities.

We offer a dynamic, inclusive environment with competitive pay and benefits.

Health and wellness coverage, 401(k) match, paid time off, eight paid holidays, continuous learning and leadership development, access to Colleague Resource Groups and volunteer opportunities.

Additional benefits include:

• Merchandise discounts
• Performance‑based incentives
• Annual merit review
• Employee Assistance Program with mental health counseling and legal/financial advice
• Tuition reimbursement

This job description is not all‑inclusive. Macy’s, Inc. reserves the right to amend this job description at any time. Macy’s, Inc. is an Equal Opportunity Employer, committed to a diverse and inclusive work environment.