Finance Project Manager

Job Description: Cost Management Team is responsible for monitoring of the operating and Capex spends at the Bank Level and the main deliverable of the team is to target investment in winning capabilities and implement changes in the cost management approach with the Bank’s objective of focus on cost to income ratio. Role/ Job Title: Finance Project Manager Business: Finance Function/ Department: CFO Office Place of Work: Mumbai, BKC Grade: Manager/Senior Manager/Chief Manager Roles Responsibilities: • Evaluation of all existing cost drivers for the Business and Support Units, challenge and justify the spend be it new technology or manpower deployment and recalibrate the cost drivers where necessary. • Identification of the cost optimization projects and partner with teams for all major initiatives from concept initiation, planning, cost savings estimation up to the end of implementation cycle. Provide interim feedback to management on project status as may be required. • Engagement with the business and support teams for reviewing end to end business processes and suggesting measures to improve efficiencies. • Evaluation of various proposals of opex and capex and aiding business teams to take the decisions based on the cost benefit analysis/return on investment. • Minimizing cost allocations; approach for direct booking of the cost to products and in case of requirement of allocation, identifying and implementing the methodology for appropriate allocation of the expenses to the various business units • Benchmarking of the operating expenses with the competitors in the industry for evaluation of the best practices and explore the scope for implementation in the Bank. • Review large vendor contracts as per internal guidelines and provide finance perspective and CFO approval for such contract. • Ensuring budgetary controls across various line various line items of Opex • Forecasting of quarterly and yearly operating expenditure spends, trend analysis, analyzing variance from projections and highlighting deviations for corrective action for various Opex and Capex spends. • Exploring usage of activity-based costing for cost optimization • Leveraging use of technology and analytics for improving productivity Secondary Responsibilities: 1.Timely implementation of the initiatives identified. Key Success Metrics: 1.Cost Savings Initiatives conceptualization, tracking and implementation