Head of Cost Analysis & Challenge
This is a senior level role within a prestigious Financial Services company, responsible for driving a Cost Management strategy across multiple areas within the business.
This is a senior level role within a prestigious Financial Services company that is reknowned for promoting it's flexible worknig environment with excellent progression and rewards.
1) Cost analysis
Cost trend analysis Delivery of regular cost trend analysis across a number of metrics and all divisions; Providing insightful commentary; Use output as the basis for challenging divisional spend patterns and trends; Work collaboratively with Group Performance, ensuring specific cost challenge matters are shared in readiness of challenge to a respective division
Cost deep dive analysis Undertake focused expense deep dive exercises on matters either flagged up as part of cost trend analysis, or requested by Group Performance.
2) Data analytics capability
Develop and embed a cost analysis capability using appropriate data analytics tools; Ensure analysis capabilities are fully utilising appropriate data analytics software and skills; Ensure data analytics tools are fully integrated with exiting cost systems, and requirements are constantly managed and maintained.
3) Cost review meetings
Responsibility for holding monthly cost review meetings with the divisions focused with the aim of gaining a full understating of cost drivers and trends; Critically review and, where appropriate, challenge divisional cost plans, forecasts and metrics using ability to influence and negotiate to get the required outcomes; Provide strong challenge on cost trends, both in terms of directly managed spend and unit costs; Provide regular updates to Group Performance to ensure consistency of message and understanding.
4) Cost targets
Ensure cost targets agreed at a high level are properly reflected in divisional cost forecasts, and challenge achievability; Influence and negotiate to ensure divisional have clear and achievable action plans to deliver cost challenges.
5) Cost classification standards
Responsible for ensuring divisional Finance teams adopt a common standard to cost classification; Define requirements and expectations; Work collaboratively with the divisional Finance teams to ensure agreements and understanding.
6) Cost management best practice
Define cost management best practice to ensure divisional Finance teams meet expectations.
ACCA / CIMA Qualified Accountant with c5 years PQE in a management accounting environment
A degree is desirable but not essential if comparable experience in an analytical finance role can be demonstrated
Advanced Excel and data analytics software
A good awareness of UK GAAP and an excellent understanding of the ethical framework for finance professionals
A good understanding of the financial service sector, its key regulators and the nature of long term insurance business
A strong understanding of process integrity and task dependency in complex processes sufficient to propose design options, audit, test and understand the constraints of complex spreadsheet and database models
Strong understanding of expense allocation methodologies and their applications in meeting business requirements
Highly numerate qualified accountant
Excellent analytical skills with the ability to clearly draw out key messages from a large volume of data
Excellent interpersonal skills with a proven ability to both constructively challenge and influence at all levels
Superb written and verbal communication skills, especially given the interaction with senior stakeholders and business partners
An eye for accuracy to ensure quality outputs.
Focus and demonstration of constant process improvement
Advanced finance system skills particularly on Oracle ledger systems and MI reporting tools with the ability to interrogate and assess data for validity and onward reporting
up to £95,000 Basic + Car Allowance + Bonus + Pension + excellent benefits