Senior Cost Strategy Analyst

U.S. Bank • Minneapolis, MN

4d • 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 This job posting represents 2 open roles, and we’re excited to consider candidates for both opportunities. 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.

Requirements

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

Nice To Haves

• 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.

Responsibilities

• Shared Service Allocations: Lead the development and execution of shared service allocation methodologies, ensuring accurate distribution of costs among various business lines.
• Cost Review and Challenge Sessions: Drive cost review and challenge sessions with business partners, analyzing cost structures, identifying cost-saving opportunities, and offering valuable insights for decision-making.
• Costing Study Management: Perform Activity-Based Costing studies in partnership with business partners and stakeholders to facilitate informed decision-making and enhance cost efficiency.
• Financial Analysis: Lead in-depth financial analysis, including variance analysis, trend analysis, and scenario modeling, providing actionable insights to leadership.
• Cost Efficiency Improvement: Identify and lead opportunities to improve cost efficiency and enable sustainable business growth through data analysis and process enhancements.
• Multi-Dimensional Reporting: Develop and maintain multi-dimensional reporting providing insights into cost objects of spend and opportunities for cost optimization.
• Allocation Financial Forecasting and Budgeting: Lead the analysis of financial forecasts and annual budgets, providing cost-related input.
• Financial Modeling and Reporting: Lead the design and maintenance of complex financial models and produce reports that facilitate strategic decision-making at both the operational and executive levels.
• Process Development and Governance: Lead the development, implementation, and enhancement of processes, systems, and controls, ensuring governance and oversight in cost and allocation processes.

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: Senior
• Number of Employees: 5,001-10,000 employees