Senior Cost Strategy Analyst

Senior Cost Strategy Analyst

Join the Enabling Functions Shared Services team as a Senior Cost Strategy Analyst, specializing in supporting Banking Operations Finance allocations. In this role, you will play a pivotal role in enhancing cost efficiency, conducting cost review and challenge sessions, managing costing studies, and performing in-depth financial analysis for Banking Operations Finance allocation initiatives. Your expertise will be instrumental in developing financial models, multi-dimensional reports, and contributing to process development and governance.

As a Senior Cost Strategy Analyst in shared service allocations, you will ensure accurate cost distribution, driving financial excellence across the organization.

Key Responsibilities

• Lead the development and execution of shared service allocation methodologies, ensuring accurate distribution of costs among various business lines.
• Drive cost review and challenge sessions with business partners, analyzing cost structures, identifying cost-saving opportunities, and offering valuable insights for decision-making.
• Perform Activity-Based Costing studies in partnership with business partners and stakeholders to facilitate informed decision-making and enhance cost efficiency.
• Lead in-depth financial analysis, including variance analysis, trend analysis, and scenario modeling, providing actionable insights to leadership.
• Identify and lead opportunities to improve cost efficiency and enable sustainable business growth through data analysis and process enhancements.
• Develop and maintain multi-dimensional reporting providing insights into cost objects of spend and opportunities for cost optimization.
• Lead the analysis of financial forecasts and annual budgets, providing cost-related input.
• Design and maintain complex financial models and produce reports that facilitate strategic decision-making at both the operational and executive levels.
• Lead the development, implementation, and enhancement of processes, systems, and controls, ensuring governance and oversight in cost and allocation processes.

Basic Qualifications

• Bachelor's degree, or equivalent work experience
• Typically eight or more years of related experience

Preferred Skills/Experience

• Bachelor's degree in Finance, Accounting, Business, or a related field. Master's degree or relevant certifications are a plus.
• 6 years of relevant experience in cost analysis, shared service allocations, and cost strategy, with a background in Banking Operations Finance.
• Domestic travel up to 15% of the time
• Strong quantitative and data analysis skills with a solid commitment to accuracy.
• Proficiency in data analysis tools and software (e.g., Excel, SQL, data visualization tools).
• Exceptional communication and presentation skills, with the ability to convey complex financial concepts effectively.
• Demonstrated leadership and the ability to work collaboratively in cross-functional teams and independently when required.
• Strong critical thinking skills and an initiative-taking mindset to identify cost-saving opportunities.
• Knowledge of banking products and services is highly desirable.

This role requires working from a U.S. Bank location three (3) or more days per week.

If there's anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Benefits:

• Healthcare (medical, dental, vision)
• Basic term and optional term life insurance
• Short-term and long-term disability
• Pregnancy disability and parental leave
• 401(k) and employer-funded retirement plan
• Paid vacation (from two to five weeks depending on salary grade and tenure)
• Up to 11 paid holiday opportunities
• Adoption assistance
• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $ - $