The Associate provides detailed expenditure analysis as part of the annual top-down budget process, productivity analysis, monitoring of budget execution. The Associate provides input to the preparation of specific sections of Bank documents issued to senior management and to the Board, including such as the Strategy Implementation Plan document incorporating the annual Budget document. The role requires maintaining the relevant policies, procedures and processes related to resource management, including budget and accounting guidelines and for staffing related issues.
Responsibilities:
Active monitoring of business plan and budget execution of respective departments under client responsibility, reviewing directly with departments as necessary.
Provide first line advice and guidance to budget holders, providing some challenge and identification of risks.
Develop specific resource analysis for Senior Management and the Board of Directors under the guidance of the Associate Director, Head of Cost Management.
Monitoring and reporting of expenses against agreed budgets on monthly basis and providing insight / commentary.
Undertake regular forecasts with the business and tracking of agreements and work with the business on resolving where deviations are likely.
Actively monitor on a monthly basis the business plan and budget execution, highlighting key variances and providing rationale for respective client groups.
Analyse cost performance on monthly basis and providing commentary / insight for management reporting.
Development and coordination of the annual budget proposal and forecast process.
Support the Head of cost management to develop cost allocation methodologies to support segmented P&Ls and cost KPIs (productivity, efficiency and effectiveness metrics) to support the business in understanding the cost base.
Performing tasks under cost management responsibility – review use of staff costs budget, regular tracking of contingency budget utilisation, use of management provisions, etc.
Regular discussions and support to budget holders to understand and efficiently implement their budget.
Analysis of productivity across teams and other specific staffing queries to support more senior staff in the Cost management team.
Independently initiate and manage small projects of analysing resources or reviewing policies that fall under the responsibility of the Cost Management team and contribute to larger projects.
Involved in training of Budget Officers.
Undertaking financial modelling to support key strategic decisions.
This job description is not limited to the responsibilities listed and the incumbent may be requested to perform other relevant duties as required by business needs.
Constantly identifies ways for increasing efficiency and effectiveness namely by automating processes, improving data quality and adopting market best practices, hence freeing up resources for more added value activities such as business partnering and analytics.
Requirements:
Proven experience in cost management issues.
Qualified accountant/ CFA qualified/ relevant Masters and/ or strong practical experience in Finance.
Strong accounting knowledge and financial background.
Excellent numeric and analytical skills.
Stakeholder management and negotiation skills.
Commitment to continuous improvement and proposing innovative solutions.
Strong knowledge of IT systems such as accounting packages, Excel and its use in modelling.
Relationship management skills.
Ability to work to deadlines and under time pressure whilst addressing the departmental priorities.
Strong drafting and presentation skills.
Excellent written and oral communication skills in English.
