Job Description
Role/ Job Title: Finance Project Manager
Business: Finance
Function/ Department: CFO Office
Place of Work: Mumbai
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
• Minimising 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, analysing 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 :
'Timely implementation of the initiatives identified
Key Success Metrics:
'Cost Savings Initiatives conceptualisation, tracking and implementation
Business: Finance
Function/ Department: CFO Office
Place of Work: Mumbai
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
• Minimising 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, analysing 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 :
'Timely implementation of the initiatives identified
Key Success Metrics:
'Cost Savings Initiatives conceptualisation, tracking and implementation
💡 Quick Summary
Seeking a career-building opportunity? The Project Manager | Cost Management Team position is now open for candidates interested in the Bank Jobs sector. This role in Mumbai offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.
