Job DescriptionTo generate systems and costing models based on actual activities in the relevant business areas, by consulting and liaising with managers to identify cost drivers.To find situation-specific solutions whilst using technology and systems in the most efficient way possible.Analyse activities, products, and services of all cost centers to identify critical cost drivers in collaboration with business managers.Provide input into costing projects involving a segment, business unit, function, or country/region (as applicable).Generate systems and tools that enable line managers to understand the cost drivers of all activities in the area.Influence creative business solutions, optimize processes, and inform strategic decisions through cost modeling and data analysis.Build, run, and execute cost models and provide required reports for business.Provide feedback to the business on monthly and ad hoc analysis and reports from the cost models to support decision-making.Build and calculate cost models and work within established work and service processes.Prevent wastage and identify process improvements to contain and reduce costs within their area.Conduct reviews and scenario planning to provide guidance on the budgetary process in terms of spending and forecast adjustments, and analyze previous data to motivate future budget requirements in line with cost models to be run and distributed.Source relevant data in line with the operating process, based on specific model and inventory requirements, and continue to improve the data gathering process through continuous efficiencies and automation.Once data has been made available, create a dashboard to track inputs received against deadlines to completion as well as the quality thereof, or error rate.Maintain and expand a database of contacts who can provide specific inputs, ensuring contacts are aware of their role in correcting data issues raised and providing signed-off inputs for the model runs.Maintain and update existing measured object and cost codes.Maintain and update existing principles and drivers together with inputs from the finance business partners on the selected portal.Ensure relevant data inputs have been validated and signed off by input owners as data sources in the costing models.Partner with data owners to cleanse and streamline data sources as part of the process to continuously refine and improve the quality of data being used as inputs into cost model runs.Partner with cost model custodian to automate and improve the process by which data is sourced and fed into a model for the cost model runs, ensuring minimum manual intervention of data.Build working relationships across teams and functional lines to enhance work delivery, collaboration, and innovation.Deliver internal and external customer service excellence through adherence to quality service standards.Continuously assess own performance by seeking timely, and clear feedback and requesting training where appropriate.Qualification:Minimum qualification: Relevant Degree in Finance, Costing, Mathematics or similar.Preferred qualification: Relevant postgraduate degree, Financial or analytical modeling qualifications, CIMA or ACCA.Experience and Skills:3 to 5 years experience in a similar environment, of which 1 to 2 years ideally at a junior specialist level.Strong understanding of cost accounting principles and methodologies, including standard costing, activity-based costing, and variance analysis.Proficiency in preparing financial statements and reports.Proficiency in managing large datasets, data cleaning and transformation, and data integration techniques.Experience with database systems for sorting and retrieving data efficiently.Proficiency in data scripting tools for data manipulation, analysis, and automation.Experience using ERP system(s).Proficiency in data analysis, understanding trends, and providing insights to support decision-making.Knowledge of local accounting standards and regulations.Familiarity with cost accounting practices within the corporate and investment banking industry.Job Details:Application Closing Date: 07/08/24All appointments will be made in line with FirstRand Group's Employment Equity plan. The Bank supports the recruitment and advancement of individuals with disabilities. In order for us to fulfill this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.
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