Financial Reporting Specialist

Job Purpose :

To provide cost oversight, cost control and drive all tactical and strategic initiatives for the bank in collaboration with Business and Support Units, Regional Teams, Budgeting/MIS and Financial Controls.

Key Accountabilities :

· Financial Planning and Analysis - prepare annual budget in collaboration with all Units, monitor cost performance, prepare cost forecast and monthly flash. Track and monitor Branch, Sector, Segment, Channel and Product wise cost performance

· Strategic Cost Management - Help formulate annual and ad-hoc strategy to drive cost optimisation, operational efficiency and provide new ideas.

· Advanced Cost Analytics - support all Units (Institutional Banking, Consumer Banking, Treasury & Markets, Technology & Operations etc.) and stakeholders in new initiatives through detailed analysis of cost drivers and control levers

· Own the cost allocation methodology of the Bank and bring more transparency / objectivity to the model

· Stakeholder Management – Make regular presentations to senior management of the Bank on cost analysis and optimisation opportunities

Job Duties & responsibilities :

· Overall responsibility of all Units cost oversight

· Preparation of budgets, Forecast and Flash for All Units

· Support all ad-hoc business modelling and cost analytical reviews

· Help timely and accurate business performance reporting on cost lines by providing and resolving as may be required - queries on cost including allocation

· Evaluate 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

· Review large vendor contracts as per internal guidelines and provide finance perspective and CFO approval for such contracts

· Track, Monitor and suggest remedial action where necessary in cost behaviours for Branch, Sector, customer Segment, Channel and Product.

· Coordinate and partner with teams for all major initiatives from concept initiation, planning, cost estimation upto the end of implementation cycle. Provide interim feedback to management on project status as may be required.

· Participate in all Strategic Initiatives for cost optimisation

· Drive process automation to drive capacity optimization within Finance

· Deploy proper knowledge management process by regular update of Departmental Operating Instructions and Create back up for all critical processes

· Deploy, monitor and review compliance with Group (HO) Policies and Procedures within costs space including updating of the local Delegation of Cost Authority.

· Manage and coordinate with Group (HO) on all deliverables related to Cost

· Act as Single Point of contact on relevant query response for both external, Group and Internal Audit

Core Competencies :

· Ability to manage cost budgeting independently including project costing

· Solid exposure to cost drivers within banking

· Should be able to objectively challenge all cost assumptions, scenario and projections provided by Service Units

· Very good knowledge of general accounting and cost accrual concepts

· Good knowledge of accounting systems in financial institutions

· Strategic thinking ability

· Change mind set

· Control mind set

· Business Partnership

Technical Competencies :

· Hands on exposure in ERP (preferably PSGL) and BI tools (Preferably Hyperion)

· Exposure in Commercial Banking product life cycle

· Good exposure to operating and non-operating costs and allocation methodologies

· Very good communication and Influencing skills

· Ability to think out of the box

· High proficiency in MS Office (Excel and PowerPoint in specific)

· Exposure on Dashboarding tools like Qlikview, Power BI or Tableau Market Intelligence