JOB SUMMARY
This is a 12-month contract with the Bank.
The Cost Simplification Programme is a Bank wide initiative funded by Fit For Growth. This initiative aims to simplify, elevate and transform the efficiency and effectiveness of cost management processes in the bank –through simplifying, standardising, and digitising performance management activities relating to costs and redesigning processes to enable front to back visibility of profitability across multiple dimensions, directly correlated spend to cost drivers and business activities. This sets the foundation for product level costing which will enable better frontline pricing decisions, as well as greater cost ownership across the firm. We will leverage technology to scale this capability and transform how costs are consumed and managed (amplifying the ethos of Fit for Growth) via sustainable cost containment, transparency and management across the Bank.
The Project Manager for Cost Simplification will lead the strategic transformation of cost management processes and architecture within the organization, with a focus on Asia delivery and stakeholder management. Additionally, the role will drive the transformation of our intra-group allocation and recharge processes and associated benefit case including the implementation of a strategic intercompany solution. The successful candidate will also play a key role in partnering with related and dependent programs including Phoenix, Mitto, E-invoicing and Ariba.
RESPONSIBILITIES
Strategy
• Understand and align the Cost Simplification strategy with the bank’s overall business and digital transformation goals.
• Support the delivery of program initiatives in line with these strategies to simplify, standardize, and digitize cost management processes.
• Assist the GCFO CFO and Cost Simplification initiative leads in delivering all aspects of the Cost Simplification Programme and benefits in line with the approved business case
Business
• Build strong, effective relationships with the workstream leads, project teams and key stakeholders across multiple locations
• Lead and manage workstreams focused on the successful standardization of cost reporting across the organization.
• Optimize intra-group allocation and recharges to enhance financial efficiency and transparency, leading to improved financial outcomes.
• Implement a strategic intercompany solution aligning to the needs of Cost Simplification, the Aspire General Ledger Strategy and dependent programs.
• Work with PMO team in Bangalore and GCFO FFG Programme to ensure that all internal and external reporting requirements are met in a timely manner and at appropriate quality
Processes
• Define and monitor key performance indicators (KPIs) to ensure continuous improvement and sustainable cost process improvements.
• Regularly report on progress, challenges, and successes to senior leadership, ensuring transformation efforts are on track and delivering expected outcomes.
• Develop and implement comprehensive change management plans to support the transition to new systems and processes.
• Facilitate communications, training, and coaching for impacted teams to ensure alignment with the new operating model.
People & Talent
• Lead through example and build the appropriate culture and values across the team.
• Set appropriate tone and work in collaboration with all partners.
Risk Management
• Track and manage risks and issues associated with the Cost Simplification initiatives, ensuring timely resolution and mitigation.
• Identify risks and issues early, plan mitigating steps and communicate these to programme lead and business stakeholders in a timely manner.
• Work closely with delivery leads to ensure stakeholders are fully engaged and expectations managed.
• Cleary document and agree on assumptions, shortfalls, and timelines to resolve the known constraints and dependencies.
Governance
• Ensure that the programme delivery is in line with the Bank’s Change Governance Policy and compliant with the Change Delivery Standards
• Awareness and understanding of regulatory framework, in which the Group operates, and the regulatory requirements and expectations relevant to the role.
• Develop and track key performance indicators (KPIs) to measure the success of implemented changes.
Regulatory & Business Conduct
• Display exemplary conduct and live by the Group’s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Key Stakeholders
• CFO, TTO and Functions
• CFO, GCFO
• Head of Strategic Initiatives, T&O & Functions Finance
• Cost Simplification workstream Leads
• GCFO Fit for Growth Programme Director
Our Ideal Candidate
• 10+ years of banking experience with specialisation in project or cost management
• Bachelor’s Degree ideally in Finance or Accountancy
• Proven experience in project management, particularly in cost management transformation or similar strategic programs.
• Expertise in cost allocation and recharges
• Strong understanding of cost reporting, data
• Centralization, and financial optimization processes.
• Excellent communication and leadership skills, with the ability to influence and engage stakeholders at all levels.
• Experience in change management and the ability to drive organizational change effectively.
Role Specific Technical Competencies
• Cost Transformation
• Inter company allocations and recharges
• Tax Transfer pricing
• Strategic Architecture