JOB SUMMARY
- This role will be part of the team which holds complete ownership for reporting, analytics as well as commercial aspects with respect to the Wealth and Retail Banking (WRB) cost base covering core Retail, Private and Business Banking.
- We are seeking a detail-oriented, strategic, and motivated Lead for Strategic Cost Initiatives to join our team. The ideal candidate will i) take personal ownership on the cost initiatives, ii) engage early with the teams that are setting up the business cases for strategic action, iii) drive cost analytics to enable business with effective decision-making, iv) track the impact of strategic action to ensure that the execution is attaining the required goals, v) partner with finance leadership and business to implement solutions that enhance operational efficiency within our banking operations.
- The incumbent will be responsible to support some of the key business/ finance stakeholders, own some assigned cost lines, process / agenda towards BAU and project engagement. It will require strong self-starting & hands-on skills, analytical mindset, innovation, and willingness to work with limited direct supervision. There is an expectation that the selected individual will have the potential to raise the bar on performance by setting high quality cost support to demanding senior stakeholders.
- The successful candidate needs to develop a strong understanding of WRB’s cost dynamics, drivers and trends impacting the business, as well as the opportunity to influence strategic decision making. The role suits an individual with strong analytical, problem solving & change management skills with experience of driving change within large multinational company. This role also requires collaboration with various departments to gather requirements, conduct data analysis and support decision making processes.
RESPONSIBILITIES
The role reports to the Global Head - WRB Cost management and key responsibilities include the following:
- Collect, analyse and interpret financial data related to cost-saving initiatives under Fit For Growth (FFG) programme , providing insights and recommendations for improvement.
- Develop and maintain dashboards and reports to monitor the progress of FFG initiatives, ensuring timely and accurate updates to stakeholders.
- Work closely with cross-functional teams, including wider finance team, operation and project management to identify opportunities for cost reduction and efficiency initiatives .
- Assist in the planning and implementation of cost save initiatives, providing analytical support and ensuring alignment with overall business objectives.
- Present findings and recommendations to senior management, fostering a culture of continuous improvement and accountability.
- Partner with stakeholders yet constructively challenge to drive efficiency agenda to self-fund growth.
- Track and help establish benefits derived though key strategic investments and compare with original business case to evaluate delivery of projects.
- Establish robust process on benefit attestation towards investments made under transformational change programme.
- Creation of material / presentation deck for senior management review
Processes
- Responsible for the delivery of Strategic Cost Initiatives processes (includes setting up appropriate databases and generating inferences out of the analytics built) for the Business
- Ensure appropriate governance is in place for audit readiness
- Ensure compliance with Group accounting principles and practices, financial control policy, and other regulatory accounting guidelines.
People & Talent
- Set the right example and build the appropriate culture and values in the team. Set appropriate tone and expectations from team members and work in collaboration with risk and control partners
- Coach junior team members and partner with GFS colleagues to help align the team’s objective/ vision
- Help drive the “finance culture”, “people and process” and “be the change agenda”
Risk Management
- Ability to interpret the Group’s financial information, identify key issues based on this information and put in place appropriate controls and measures
Governance
- Awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the role
- Own the assigned processes and its governance
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.
- Lead the Group WRB Cost team to achieve the outcomes set out in the Bank’s Conduct Principles
Key Stakeholders
- Global Head , WRB Cost Management
- Global Head , WRB Financial Planning and Analysis
- Global Head , Transformation and Strategic Initiatives -WRB
- FFG Program Leadership Team
- Cluster CFO’s
- Global Segment and Product CFOs
- Group / Regional product and segment Heads
- Functions and Technology finance team
- Country Business finance head
Other Responsibilities
- Embed Here for good and Group’s brand and values in Group WRB Finance ; Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures
- Embed here for Good, Group’s brand and values in performance and cost management team
- Perform other responsibilities assigned under group and functional policies and procedures
Our Ideal Candidate
- 10+ years of experience of relevant in finance and accounting
- Accounting qualification (such as CIMA / ACCA / MBA in finance)
- Strong analytical skills and proficiency in data analysis tools and ability to create decks to present the analysis effectively for senior management
Role Specific Technical Competencies
- Experience of dealing directly with senior management within a large multinational organisation, preferably Financial Institution
- Proven ability to drive change, strong team working and networking capability, success of role is reliant on ability to work with many different teams effectively
- Strong verbal and written communication skills, clear, concise and at appropriate levels of details to tailor to different audiences and purposes
- Ability to work in fast-paced environment, multitask and respond in short timeframes
- Ability to demonstrate the Bank’s values in achieving objectives
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.
Recruitment Assessments
Some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.
Visit our careers website www.sc.com/careers
