Job Summary
Cost Simplification Programme is a Bank wide initiative funded by Fit For Growth. This initiative aims to simplify, elevate and transform the efficiency and effectiveness of cost management processes in the bank –through simplifying, standardising, and digitising performance management activities relating to costs and redesigning processes to enable front to back visibility of profitability across multiple dimensions, directly correlated spend to cost drivers and business activities. This sets the foundation for product level costing which will enable better frontline pricing decisions, as well as greater cost ownership across the firm. We will leverage technology to scale this capability and transform how costs are consumed and managed (amplifying the ethos of Fit for Growth) via sustainable cost containment, transparency and management across the Bank. Scope of changes include:
Governance & Policy:
Clear accountability matrix to drive and influence cost behaviour that are RoTE accretive
Redefining cost lines and ownership based on cost type and influenceability to align with performance management framework
Key Responsibilities
Process Improvement:
Simplifying, standardising and automating cost booking model, allocation processes and reporting framework across countries /business units / segments to reach a harmonised and centralised one firm approach, light to No-touch processes flows, enabling front to back visibility of costs for CIB and WRB business and address inconsistencies to booking to chart of accounts
Technology and Data:
Adoption of Enterprise Solutions by rationalising and consolidating applications to reduce technology and support cost: licensing, hardware and maintenance support.
Establishing a centralised cost driver database for single source of data and data lineage across a refined number of cost keys,capturing financial and non-financial data to enable automated allocation keys and driver based insights, linking directly to the P&L.
People
: Creates capacity in the cost teams to move away from data collation/reconciliation to driving insightful analytics through greater access and consistency of quality data.
Will be responsible for being part of Cost Simplification Programme by bringing in expertise in domains like Business Finance Reporting, Forecasting & Planning, Cost Allocations, Cost Analytics & Insights with ability to deliver outcomes via digital offerings and enhanced visualisation for senior management executives of the bank
Ensure clarity of objectives agreed with the LM and are broken down to tasks with regular updates to the LM.
Managing the assigned tasks professionally and efficiently.
Ensuring compliance of regulations, policies and requirements.
Contributing to the effectiveness of the team by utilizing interpersonal skills to work with members effectively.
Gain cross functional knowledge & System Training to uplift the skills especially in the assigned domains.
Strong communication skills to strategize, facilitate & improve efficiency in delivering changes in a complex environment with internal stakeholders and external stakeholders
Develop and apply testing processes. Create detailed, comprehensive and well-structured test plans and test cases. Co-ordination of Test data/Environment with upstream/downstream teams.
Ensure detailed documentation is maintained on the Business Requirement & Functional Specifications. Making sure we provide best solution which is most effective from User, Cost and Risk Perspective.
Ensure detailed project transition plan to be considered in different aspects like End User Training, Resource Considerations & Training Materials.
Responsible for managing deliverables throughout the project lifecycle collaborating with various project/program teams, stakeholders; finance stakeholders across geographies, process and technology teams.
Evidence of strong Project Management skills, enabling the delivery of multiple diverse data initiatives from inception to delivery
Excellent business and technical process design and execution skills, enabling the effective execution of a change
Primary contact point with other change and BAU leaders across the organisation to identify and resolve blockers to project success
Responsibility for prioritisation and management of critical path delivery items
Design the target state solution and target state processes
Drive the establishment of a target operating model and internal capability to support and drive ongoing change / enhancement initiatives
Ensure strong engagement with senior leaders and stakeholders across Finance.
Responsible for risk and issue resolution
Build strong relationships with key delivery partners, and ensure efficiencies and synergies are realised across programmes.
Build effective communication channels with wider senior finance leadership.
Ensure effective governance and project management standards are applied across all delivery responsibilities
High quality written and verbal communication skills, with the ability to focus on multiple initiatives and subjects at the same time
The role requires very strong change management experience along with a background Core Finance function.
Excellent communication skills and the ability to engage with senior leaders within Finance and outside finance is also a must, the role will be reporting into the Cost Simplification Programme specific workstream lead, and will also have direct engagement with other workstream Leads, GPO’s and senior Finance stakeholders across the Bank.
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.
Skills And Experience
Financial Analysis
Business Planning
Variance Analysis
Stakeholder management
Qualifications
7+ years of experience in Banking and Financial Services in more than one core Finance functions; Ledger, Consolidation, Financial and Management Reporting, Cost allocations and transfer pricing, planning and performance management; Master Data Governance, Supply Chain management and Tax reporting.
Techno Functional knowledge and experience in implementing and or working with SAP suits of products like S4 HANA, PAPM, BPC, MDG, Ariba, Concur, etc
Change experience on implementation of finance technology solutions
Experience in establishing and delivering large scale change initiatives within Finance.
Core Project Management skillsets including Planning, Risk and Issue Management etc
Strong skills with core Business Analysis toolset and techniques
Able to design processes at both a conceptual and operational level
Strong background in problem solving, with demonstrable analytical skills
Experience in Senior Stakeholder Management and Communication
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.
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