Finance Head Costing

time left to apply End Date: April 17, 2025 (4 days left to apply)

job requisition id R31680

Job Description

To maintain strategic oversight of the cost management function, including costing attribution, cost control, finance business partnering and cost optimisation strategies.

Develop and implement sophisticated cost allocation methodologies, ensuring that costs are attributed correctly across various banking products, services, and departments.

Manage cost accounting systems, support strategic financial decision-making, and ensure that all costing processes are aligned with the bank’s broader financial strategy, regulatory requirements, and profitability goals.

Play a pivotal role in the financial planning and analysis process and provide insights into cost behaviour to support business decisions.

• Develop and implement financial strategies and frameworks that align with organisational goals, ensuring sustainable financial health and regulatory compliance.
• Ensure robust financial controls, governance, and compliance frameworks are in place to mitigate risks, adhere to regulatory requirements, and uphold the integrity of financial reporting.
• Provide strategic financial guidance, ensuring sound financial evaluation and risk assessment in support of corporate growth objectives.
• Champion financial technology and digital transformation initiatives to improve financial reporting, analytics, and operational efficiencies.
• Deliver presentations to relevant forums within the organisation, make formal representation at various finance forums.
• Lead the cost management function within the bank, focusing on cost reduction and efficiency improvements.
• Develop and oversee the costing strategy in alignment with the bank’s financial objectives, profitability targets, and growth strategies.
• Work closely with senior management to optimise the profitability of various banking products and services by improving cost efficiency and ensuring proper cost allocation.
• Gain functional enablement views across the bank collaborating with BU Finance teams to produce these reports with insights for Senior executives monthly.
• Oversee the preparation of comprehensive costing reports for internal and external stakeholders, highlighting cost drivers and cost allocations across various departments and services.
• Ensure accurate cost reporting related to both product-specific and bank-wide expenses, providing transparency and accountability in financial performance.
• Conduct detailed cost analysis, including variance analysis, to identify any discrepancies between projected and actual costs, recommending corrective actions where necessary.
• Ensure that all cost-related reports comply with regulatory and reporting standards (e.g., IFRS, Basel III).
• Implement cost control measures and track their effectiveness in improving profitability.
• Collaborate with the operations and risk management teams to ensure that cost control initiatives align with broader operational goals and risk management policies.
• Develop and monitor KPIs related to cost efficiency, ensuring that financial goals and cost-saving targets are met.
• Partner with Executives, senior leadership, business unit managers, and department heads to align cost structures with strategic business objectives.
• Provide costing insights to assist in strategic decisions related to investments, product launches, and financial planning.
• Lead and mentor the costing and finance team, providing guidance and development opportunities to ensure a high level of expertise.
• Oversee the training and development of staff in costing techniques, financial systems, and cost reporting practices.
• Foster a cost-conscious culture within the organisation, emphasising the importance of accurate cost attribution and financial stewardship at all levels.
• Ensure that all cost attribution practices comply with relevant financial regulations, including those specific to the banking sector (e.g., Basel III, IFRS 9).
• Oversee the internal control processes related to cost accounting and ensure robust systems or processes are in place to prevent misallocation of costs.
• Ensure adherence to financial reporting standards and other banking industry regulations to maintain transparency and integrity in cost reporting.
• Drive continuous improvement initiatives within the finance function, ensuring best practices, process efficiencies, and innovation in financial management.
• Promote innovation and thought leadership within the finance function, identifying opportunities to optimise financial processes and drive value creation.
• Enhance cross-functional collaboration by engaging with business leaders, risk teams, and operations to integrate financial insights into overall business strategy.

Job Details

Take note that applications will not be accepted on the below date and onwards, kindly submit applications ahead of the closing date indicated below.

17/04/25

All 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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About Us

A leading corporate and investment bank in South Africa and the broader Africa continent, RMB offers large corporate and institutional clients innovative, value-added advisory, funding, trading, corporate banking and principal investing solutions. RMB’s talent is expected to be high performing whilst fixing for real-world challenges such as funding the green economy through sustainable finance transactions; unlocking transformation with innovative BEE deals; providing financial and strategic support to management teams in the unlisted sector; financing infrastructure that will uplift economies and improve the lives of millions of people – all of this is about thinking big.

If you are invested in making a difference on a serious scale, RMB is where you should build your career and explore new ways to contribute to a better world.