Senior Cost Strategy Analyst

U.S. Bank • St. Louis, MO

4d • $133,365 - $156,900 • Hybrid

About The Position

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
• Typically eight 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.
• This role requires working from a U.S. Bank location three (3) or more days per week.

Responsibilities

• Lead the development and execution of shared service allocation methodologies, ensuring accurate distribution of costs among various business lines.
• Drive cost review and challenge sessions with business partners, analyzing cost structures, identifying cost-saving opportunities, and offering valuable insights for decision-making.
• Perform Activity-Based Costing studies in partnership with business partners and stakeholders to facilitate informed decision-making and enhance cost efficiency.
• Lead in-depth financial analysis, including variance analysis, trend analysis, and scenario modeling, providing actionable insights to leadership.
• Identify and lead opportunities to improve cost efficiency and enable sustainable business growth through data analysis and process enhancements.
• Develop and maintain multi-dimensional reporting providing insights into cost objects of spend and opportunities for cost optimization.
• Lead the analysis of financial forecasts and annual budgets, providing cost-related input.
• Lead the design and maintenance of complex financial models and produce reports that facilitate strategic decision-making at both the operational and executive levels.
• 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