Cost Strategy Analyst

U.S. Bank • Minneapolis, MN

11d • Onsite

About The Position

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One. Job Description We are seeking a Strategic Costing Analyst to join our Cost Allocations team. In this role, you will be an essential contributor, executing costing studies, performing financial analyses, supporting review and challenge sessions, and creating multi-dimensional reports. Additionally, you will provide critical support for cost allocation processes. Your strong analytical skills will be instrumental in optimizing our cost structures and driving financial excellence.

Requirements

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

Nice To Haves

• 3+ years of proven experience in cost analysis, financial analysis, and financial modeling, preferably within the banking or financial services industry.
• Proficiency in data analysis tools and software (e.g., Essbase, Power BI, data visualization tools).
• Strong communication, presentation, and data consolidation skills to efficiently summarize financial data and communicate complex financial concepts.
• Ability to work collaboratively in cross-functional teams and independently when required.
• Conduct ad hoc cost analyses utilizing advanced data analysis techniques and tools.
• Strong critical thinking skills and an initiative-taking mindset to identify cost opportunities.
• This role requires working from a U.S. Bank location three (3) or more days per week.

Responsibilities

• Cost Allocations: Provide key support in preparing for shared service allocation methodologies, ensuring the accurate distribution of costs.
• Activity-Based Costing (ABC): Support the implementation and management of Activity-Based Costing methodologies to accurately allocate costs and enhance cost visibility.
• Costing Study Management: Offer critical support in the analysis of costing studies, enhancing cost transparency, and facilitating data-driven decision-making.
• Cost Review and Challenge Sessions: Collaborate effectively with cross-functional teams to support cost review and challenge sessions, identifying opportunities for cost optimization and efficiency improvements.
• Financial Analysis: Conduct comprehensive financial analysis, including variance analysis, trend analysis, and scenario modeling, providing actionable insights to senior leadership.
• Allocation Financial Forecasting and Budgeting: Lead the analysis of financial allocation forecasts and annual budgets, providing cost-related input and recommendations.
• Financial Modeling and Reporting: Develop and maintain advanced financial models and reports that support strategic decision-making, financial planning, and forecasting.

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

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level