Strategic Cost Management Specialist Sg

2 weeks ago

Singapore CIMB Group Full time

**Responsibilities**:
**_Strategic Cost Management: _**
- Develop and implement the Bank's strategic cost management framework, aligning with overall business objectives.
- Identify long-term cost optimization opportunities and develop strategic initiatives to achieve them.
- Provide strategic financial insights and recommendations to senior management on cost-related matters.Monitor industry trends and best practices in cost management and implement relevant strategies.

**_Cost Optimization Leadership and Initiatives: _**
- Lead and manage cross-functional cost optimization projects, ensuring alignment with strategic goals and delivering measurable results.
- Drive a culture of continuous improvement and cost efficiency throughout the organization.
- Establish and track key performance indicators (KPIs) related to cost management and report on progress.Conduct benchmarking analysis to compare the Bank's cost structure against industry peers.

**_Financial Planning and Analysis: _**
- Oversee the development of cost budgets and forecasts, ensuring alignment with strategic targets.
- Prepare regular and ad-hoc cost reports, insightful variance analyses, and performance dashboards / reports for management review.
- Contribute to the development of business cases for new initiatives and investments, including cost-benefit analysis.Contribute to the long-term financial planning process, incorporating strategic cost management considerations.

**_Stakeholder Management and Collaboration: _**
- Build strong relationships and partner with department heads and budget owners to understand their cost drivers and challenges.
- Provide financial guidance and support to ensure cost awareness and accountability.
- Influence decision-making by providing compelling financial analysis and recommendations.
- Build strong working relationships across different business units.Communicate the cost management strategy and progress effectively across the organization.

**_Process and Systems Improvement: _**
- Identify and drive improvements in cost management processes and systems.
- Contribute to the development and implementation of cost management policies and procedures.Evaluate and implement new technologies and tools to enhance cost efficiency and reporting capabilities.

**_Compliance and Control: _**

Ensure compliance with relevant accounting standards and internal control procedures related to cost management.

**_Others: _**

Performs other functions that may be assigned from time to time.

**Qualifications**:

- Bachelor's degree in relevant field and at least 10 years of experience in cost accounting, financial analysis, or management accounting, preferably in a bank or within the financial services industry.
- Strong understanding of cost accounting principles, budgeting processes, and financial analysis techniques.
- Excellent analytical and problem-solving skills with the ability to interpret complex financial data.
- Strong communication and presentation skills, with the ability to convey financial information clearly and concisely to both finance and non-finance audiences.
- Ability to work independently and as part of a team.
- Strong attention to detail and accuracy.
- Experience in change management and organizational transformation initiatives.

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