Senior Manager: Cost Transformation

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Job Purpose

• The Senior Manager: Cost Transformation will focus on cost transformation, which includes a comprehensive set of responsibilities aimed at driving cost optimization and enhancing financial efficiency within the organization. Contributes to the organisational strategy by developing and reporting financial insights, implementing, and managing strategic initiatives to enhance customer interaction and staff satisfaction in order to achieve company targets and objectives. In addition, the role will contribute to enhance internal customer interaction through immersion and commercial partnering with Business. Ensure that strategic planning, budgeting, forecasting and financial management within Enterprise is delivered.

Responsibilities

Financial Modeling

• Undertake strategic and tactical financial analysis, modeling, and evaluation to support business leaders in their decision making. Post project implementation tracking/reporting. Raise post project flags with relevant stakeholders and assist with implementation of corrective action measures within the agreed SLA. Manage the project review process; accurate and relevant information and recommendations provided to stakeholders to enable progress evaluation and agreement of change. Act as a custodian of existing Enterprise business cases financial modelling to evaluate ability/feasibility using applicable financial management tools i.e., NPV, IRR etc. and provide recommendations to senior management Lead ad-hoc analytical/modelling work to provide insights into critical decision factors. Timely hand-over of new business reports.

Insights and Reporting

• Set and lead execution of the data and analytics reporting plan, creating strategies and templates to report data in a meaningful way. Create, present, and communicate high-impact data and analytics insights and recommendations to critical internal and external stakeholders. Provide Enterprise level FP&A insights. Assist the CFO and Head of FP&A in updating reports with the latest results and variances; forming supporting commentary; and meeting corporate deadlines. Work closely with the Finance Operations and Systems team to build and enhance current processes and tools to facilitate the right level of management reporting / KPI reporting in the group to senior leadership. Provide high quality ad-hoc analysis as required.

Stakeholder Engagement

• Identify and manage stakeholders up to top management level, finding out their needs/issues/concerns and reacting to these by leading and coordinating the development of stakeholder engagement plans to support the communication of business information and decisions. Manage relationships with internal clients and act as a business partner to them, building high levels of professional credibility and mutual trust, and managing the deployment of appropriate internal and/or external resources to support in delivering business strategy and plans.

Budgeting

• Develop and/or deliver budget plans in collaboration with the relevant stakeholders. Work with the Head of FP&A on budgeting and financial forecasting. Analyse how the organisational structure influences costs, focusing on areas such as ring-fenced teams, vacancies and span of control Provide insights and recommendations on organisational redesigns or adjustments to minimise costs while maintaining or enhancing operational efficiency Report on the financial impact of proposed changes, including a detailed cost benefit analysis.

Performance Management

• Manage and report on the performance of a substantial, diverse team; set appropriate performance objectives for direct reports or project / account team members and hold them accountable for achieving these; take appropriate corrective action where necessary to ensure the achievement of team / personal objectives. Advise on corrective action measures where necessary to ensure the achievement of annual business objectives.

Leadership and Direction

• Identify and communicate the actions needed to implement the function's strategy and business plan within the business area or department; explain the relationship to the broader organisation's mission, vision and values; motivate people to commit to these and to doing extraordinary things to achieve local business goals.

Financial Management and Control

• Manage a significant portion of the organisation's financial management and/or control processes including strategic investment areas. Oversee the cost accounting function, ensuring accurate and timely analysis of cost data. Oversight of cost centre creation and maintenance. Directly manages the cost accountant, providing guidance and oversight on their activities and ensuring their work aligns with broader cost transformation goals. Enhance productivity metrics and works closely with Workforce management to identify opportunities for labour cost savings without compromising on quality or productivity.

Data Collection and Analysis

• Make authoritative recommendations based on expertise that have a significant impact on the business over the short and long term. Recommendations could be technical or professional in nature. Monitor, analyse and report on anomaly spend categories such as travel, entertainment, staff welfare, incentives and consulting expenses. Prepare and present regular reports to the group CFO and divisional CEO on anomaly spending, offering insights and recommendations for improvement Report to CFO and Head FP&A on anomaly spending.

Policy Development & Implementation

• Develop functional or operational policies and help develop policy frameworks for area of responsibility or department. Take responsibility for creating underlying procedures and monitoring their implementation. Develop and implement policies to manage and mitigate excessive spend in these areas, ensuring alignment with the organisation's financial policies and goals. Develop, implement, and enforce financial and operational policies related to cost management, ensuring they are well communicated and adhered to across the organisation. Facilitate training and education programs for staff at all levels to foster a culture of cost awareness and efficiency.

Personal Capability Building

• Act as subject matter expert in an area of technology, policy, regulation, or operational management for the team. Maintain external accreditations and in-depth understanding of current and emerging external regulation and industry best practices through continuing professional development, attending conferences, and reading specialist media.

Information and Business Advice

• Provide authoritative specialist advice to the leadership team of a business vertical or subsidiary to guide the implementation of policy and the design and implementation of projects and change initiatives. Work collaboratively with procurement to ensure protection of cost savings as a result of renegotiations of contracts. Implement and oversee a robust process for monitoring and analysing supplier spend. Conduct regular supplier evaluations to identify cost-saving opportunities (for example rent vs buy analysis; utilisation of yards etc).

Functional Strategy Formation

• Lead the development and implementation of commercial strategy for an important area of responsibility within a function, anticipating complex issues, challenges, and opportunities, and ensuring integration with wider functional strategy. Design and implement a comprehensive cost transformation strategy to improve financial efficiency. Conduct deep-dive analysis to identify areas of excessive spending and inefficiencies, proposing actionable solutions to address these issues. Collaborate with various department heads to align cost optimisation initiatives with overall business objectives, ensuring that cost-saving measures do not impede operational effectiveness.

Education

• Post Graduate degree/diploma in Business Related Field (Essential); CIMA (Advantageous)

Experience

• 8 or more years experience as a Senior Manager (Essential); 3 or more years experience and exposure to business operations (Essential); Experience in Financial Services environment (Advantageous); 2 or more years' management experience (Advantageous)

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