Head of Cost Analysis & Challenge
- Role Type
- Closing Date
- Company Info
Working here is about being there for our customers; we’re available should the worst happen and we work together to enable social and financial equality across the UK. But it’s also about you –how you develop and what you can achieve. We’ll help your talent thrive in an environment where you’ll be supported to work flexibly and autonomously, sharing in our success and rewarded for a great performance with a generous benefits package.
- Department Info
From HR and Digital teams through to Group Finance, Risk and Corporate Comms – our Group function support our businesses across the UK and abroad. Delivering essential services and activities that have a real impact on our business and our customers lives, we enable our people to do what they do best, contributing to delivering a great customer service, profitability and strategic growth.
We are an equal opportunities employer and welcome applications from all suitably qualified persons regardless of their race, sex, disability, religion/belief, sexual orientation or age.
- Job Duties
1) Cost analysis
Cost trend analysis Delivery of regular cost trend analysis across a number of metrics and all divisions; Providing insightful commentary; Use output as the basis for challenging divisional spend patterns and trends; Work collaboratively with Group Performance, ensuring specific cost challenge matters are shared in readiness of challenge to a respective division
Cost deep dive analysis Undertake focused expense deep dive exercises on matters either flagged up as part of cost trend analysis, or requested by Group Performance.
2) Data analytics capability
Develop and embed a cost analysis capability using appropriate data analytics tools; Ensure analysis capabilities are fully utilising appropriate data analytics software and skills; Ensure data analytics tools are fully integrated with exiting cost systems, and requirements are constantly managed and maintained.
3) Cost review meetings
Responsibility for holding monthly cost review meetings with the L&G divisions focused with the aim of gaining a full understating of cost drivers and trends; Critically review and, where appropriate, challenge divisional cost plans, forecasts and metrics using ability to influence and negotiate to get the required outcomes; Provide strong challenge on cost trends, both in terms of directly managed spend and unit costs; Provide regular updates to Group Performance to ensure consistency of message and understanding.
4) Cost targets
Ensure cost targets agreed at a high level are properly reflected in divisional cost forecasts, and challenge achievability; Influence and negotiate to ensure divisional have clear and achievable action plans to deliver cost challenges.
5) Cost classification standards
Responsible for ensuring divisional Finance teams adopt a common standard to cost classification; Define requirements and expectations; Work collaboratively with the divisional Finance teams to ensure agreements and understanding.
6) Cost management best practice
Define cost management best practice to ensure divisional Finance teams meet expectations.
- Skills Required
- ACCA / CIMA Qualified Accountant with c5 years PQE in a management accounting environment
- A degree is desirable but not essential if comparable experience in an analytical finance role can be demonstrated
- Advanced Excel and data analytics software
- A good awareness of UK GAAP and an excellent understanding of the ethical framework for finance professionals
- A good understanding of the financial service sector, its key regulators and the nature of long term insurance business
- A strong understanding of process integrity and task dependency in complex processes sufficient to propose design options, audit, test and understand the constraints of complex spreadsheet and database models
- Strong understanding of expense allocation methodologies and their applications in meeting business requirements
- Highly numerate qualified accountant
- Excellent analytical skills with the ability to clearly draw out key messages from a large volume of data
- Excellent interpersonal skills with a proven ability to both constructively challenge and influence at all levels
- Superb written and verbal communication skills, especially given the interaction with senior stakeholders and business partners
- An eye for accuracy to ensure quality outputs.
- Focus and demonstration of constant process improvement
- Advanced finance system skills – particularly on Oracle ledger systems and MI reporting tools – with the ability to interrogate and assess data for validity and onward reporting
Whatever your role, we reward ability, performance and attitude with a package that looks after all the things that are important to you. Our employees have a wide range of benefits including a generous pension scheme, life assurance, 30 days' holiday, private medical insurance, performance related bonuses, discounts at both a huge range of high street stores and our own great products, as well as a 12% car allowance scheme, your hard work will be rewarded when you join us.
For further information about the role, please contact Lynn Morriss, UK Resourcing Lead, at email@example.com