Finance & Accounts:Cost Control Team ()

COST CONTROL TEAM
Grade:
Business:Corporate BankingDepartment:Finance and AccountsSub-Department:Cost control
Location: Mumbai CO
About Finance and Accounts
The Finance & Account department in Axis is responsible for planning, organizing, auditing, accounting and controlling the Banks finances. The finance department produces the companys financial statements and is responsible for compliance with government norms and tax filings
AbouttheRole
This Cost Control team is responsible for all aspects of cost budgeting, reporting and forecasting activities. This team is also responsible for equitable cost allocation across various segments. The deliverables include interaction with senior management on variance analysis, budgetary control and project updates.
Key Responsibilities

Responsible for conceptualization of cost reduction ideas and its implementation, work with stakeholders across the organization. Present the weekly progress to senior management.

Prepare monthly master data / trends, cost reports forecasts, BITE reports, presentations and Peer bank comparisons

Ensure accurate cost allocation every month.

Ensure analysis of variances on monthly basis vs previous month/ period and budget & make the presentations for review at senior management level.

Ensure adherence to Capex framework, assessment of proposals & highlight deviations in monthly reporting to management.

Responsible for the integration of Cost Framework in P2P

Ensure collation / summarization of cost budget on quarterly/annual basis. Work on presentations for management analysis/review.

Participate in automation initiatives for the function.

Qualifications

Optimal qualification for success on the job is:

Chartered accountant with 3+ years of experience with reputed financial institutions (Banks / NBFCs/ Insurance companies preferred).