Job Summary

Incumbent will be responsible for Cost Management not limiting to but including cost analysis, monitoring costs against budgets, costs budgeting, and managing headcount accounting & tracking by having continuous engagement with stakeholders.   

Key Responsibilities

Strategy
•    Establish a robust process across Finance Functions, so the organization can achieve greater efficiency, accuracy, and alignment in its operations, enabling it to better support its finance leads and CFOs in the timely delivery of planning, forecasting, and performance management processes

Business
•    Collaborate with cross-functional teams to ensure the successful implementation of an integrated monthly performance management process with Fin sight, SAC Outlook and WFP, enabling the function with timely data availability, improved insights, and enhanced productivity.
•    Lead cost optimization initiatives that foster a culture of operational excellence and build understanding across the function through deep dive analysis.

Processes
Cost Management
•    Analyze cost data to identify trends, inefficiencies, and story behind the cost data.
•    Monitor and manage one-offs and accounting entries to ensure accurate cost booking reflecting true and fair view.
•    Co-ordinate with cost Centre managers/ stakeholders to ensure costs are within the budgets. Highlighting any risk or opportunities to the approved budgets.
•    Initial Estimates: Providing flash cost estimates during the early month cost reporting.
•    Detailed Estimation: Developing more accurate and detailed cost estimates as part of monthly cost reporting.
•    Identifying and analyzing variances between actual costs and budgeted costs to understand the reasons for discrepancies. Providing commentaries for variances between flash estimates and budgets.
•    Preparing regular cost reports to provide updates on the financial status of departments.
•    Updating cost forecasts based on actual expenditures and anticipated future costs.
•    Managing changes to the budget, including assessing the financial impact of changes and obtaining necessary approvals.
•    Implementing corrective actions to address any cost overruns or inefficiencies.

Headcount Analysis / Management
•    Analyze headcount data to identify movements and expected hiring / attrition.
•    Monitor and manage headcount to ensure alignment with budgetary constraints and organizational goals.
•    Co-ordinate with Cost Centre managers / stakeholders to manage headcount movements.
•    Co-ordinate with Technology teams for managing headcount uploads and other departments for internal transfers of headcounts.
•    Perform impact analysis for stakeholder headcount strategies to manage risk on overall costs
•    Provide regular reports and analysis on headcount trends, labor costs, and workforce efficiency to stakeholders.

Budgeting Process:
•    Establish target settings with the CFO for every department.
•    Build the budgets based on historical data and expected step up in the future years.
•    Liaise with Stakeholders and agree on headcount budgeting / movements for the budgets.
•    Identify various Cost Drivers to help budget the costs
•    Provide reports and analysis on budgets reflecting the historical data and trend analysis.
•    Build dashboards for Stakeholders to substantiate their budgets, reflecting areas of Risk and opportunities.
•    Communicate budget status, make necessary adjustments, and reforecast if needed.

Continuous Improvement & Decision Support:
•    Continuously seek ways to improve cost management processes and systems.
•    Implement new tools and technologies to enhance cost management efficiency.
•    Drive improvements for efficiencies in current manual intensive processes.
•    Conducting financial analysis to evaluate different scenarios and their impact on costs.
•    Providing financial insights and recommendations to support decision-making processes.

People & Talent
•    Lead by example, develop and embed a high-performance culture with specific focus on capability, effectiveness, and productivity.
•    Foster a culture of collaboration and a mindset of change and growth. 

Risk Management
•    Ability to interpret the firm’s financial information, identify key issues based on this information and put in place appropriate controls and measures.
•    Ensure compliance with Group Accounting Principles and practices, Financial Control policy, and other regulatory accounting guidelines.

Governance
•    Have an awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the role.

Regulatory & Business Conduct
•    Display exemplary conduct and live by the Group’s Values and Code of Conduct. 
•    Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
•    Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key stakeholders
•    Function CFO.
•    Function / Sub-Function Management Team / FP&A Team.
•    Cross Functional Teams.
•    Offshore FP&A and Functional Teams.
•    Group FP&A Teams
•    Accounting Teams
•    Finance systems support teams
•    Change Management Teams 

Other Responsibilities
Embed Here for good and Group’s brand and values in [GBS India/ GSF Finance]; Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures; Multiple functions (double hats)

Qualifications

•    Accounting Professional with 10+ years of experience in Financial Planning & Analysis, Performance management or related finance roles.
•    Strong proficiency in financial modelling, data analysis, and reporting tools 
•    Excellent analytical and problem-solving skills with a keen attention to detail.
•    Proven experience in identifying and implementing process improvements to enhance operational efficiency and accuracy.
•    Demonstrated ability to automate processes and leverage technology to streamline workflows.
•    Strong communication and presentation skills, with the ability to convey complex financial information to non-financial stakeholders.
•    Ability to work effectively under pressure, multi-task, lead through ambiguities and influence, work with global teams.
•    Experience with SAP S4 Hana/BPC/SAC Planning & PaPM systems is preferred.
•    Relationship and stakeholder management skills is important.
•    Initiative and proactive thinking

Skills and Experience

•    Planning: Tactical, Strategic
•    Financial Analysis
•    Financial Forecasting and Modelling
•    Effective Communications
•    Process Improvement

About Standard Chartered

We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.

Together we:

• Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
• Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
• Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

What we offer

In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

• Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
• Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
• Flexible working options based around home and office locations, with flexible working patterns.
• Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
• A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
• Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.