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Lead - Cost Management

Lead - Cost Management

NMD Placement Consultancy Pvt. Ltd.tirupati, India
7 hours ago
Job description

Job Description

  • Lead - Cost Management is a pivotal role for optimizing the cost structure of the Bank for allocated Departments.
  • This position requires a combination of financial acumen, operational insight, and strong communication skills to successfully manage costs, improve efficiency, and contribute to the division's overall financial performance and success.

Responsibilities

  • Analyze & assess the department's operating costs, identifying areas of inefficiency and opportunities for cost reduction.
  • Monitor & review monthly to track performance against budget.
  • Collaborate with the business leadership to develop, maintain, and manage the department's budget.
  • Provide input for financial forecasts & cost projections.
  • Control & manage day-to-day departmental expenses, including personnel costs, software subscriptions, marketing expenses, and other operational costs.
  • Identify cost-saving initiatives & implement them to achieve cost reduction targets.
  • Continuously evaluate vendor performance & consider alternative options when necessary.
  • Work closely with departmental management to identify opportunities to streamline processes and reduce operational costs.
  • Implement process improvements and oversee their successful execution.
  • Allocate costs to specific business units or product lines within the allocated divisions, helping to pinpoint areas with the highest expenditure.
  • Develop cost allocation methodologies that reflect actual resource consumption.
  • Ensure adherence to cost control policies & compliance with relevant regulations in the retail assets space.
  • Prepare & submit regular reports on cost management to departmental and senior management.

    • CTC MAX 30 L

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    Cost Lead • tirupati, India

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