SunTrust Banks Strategic Expense Mgmt Analyst in Atlanta, Georgia
Req ID: W451732
The Financial Analyst will engage in all facets of the Strategic Expense Management function. SunTrust utilizes ABC/M management techniques and software for assisting our business partners in understanding their direct and allocated expense structure, and how the consumption of that expense impacts the costs of activities, products, services consumed by SunTrust clients. This requires a basic to advanced understanding of the respective businesses for each Segment/Function the incumbent has accountability. Responsibilities include detailed expense analytics, cost allocation methodologies and measurement techniques, service provider/service receiver analytics and reports, monthly production reporting, and business partner meetings. The incumbent will work closely with members of the Strategic Expense Management (SEM) and Cost Operations Teams in delivering consultative and analytical support to our business partners for making better informed and strategic decisions.
Among other responsibilities, the Financial Cost Analyst will be responsible for the following:
- Facilitates dialog with SFO’s in the discussion of potential changes or restatements, impacts to ABC rates/charges to service receivers, or allocation methodology changes and the related timing and impacts of such.
- Prepares and leads the monthly review of expense analysis for Actual, Plan and Forecast processes for their respective Segments and Lines of Business.
- Monitors and validates the monthly billing and chargeback processes performed in the various management reporting systems across the bank.
- Works with Finance community in the creation, alignment and monthly review of allocated expenses
- Ensure monthly statistics used in the allocation of costs are accurate and timely
- Adherence to and maintenance of internal control procedures, including implementation, evaluation, and documentation
- Coordinates and facilitates the scheduling of annual methodology reviews, collection and review of documentation, storage, and implementation activities.
- Supports costing techniques that are necessary to drive business decisions and facilitate service provider/service receiver dialogue and effective expense management
- Identifies appropriate data sources for gathering statistics in support of ABC/M management techniques.
- Advises Business SFO’s on coordinating Change Management activities. Actively participates in SEM and Cost Operations Teams discussions for the incorporation and use of new statistics and required allocation methodology changes
- Provide end user support for cost information; facilitating the effective usage and interpretation of cost allocations and unit cost data across a variety of uses
- Demonstrated ability to leverage cost systems supporting Standard and Forecast unit costs, variance reporting, cost maintenance, operational metrics and scorecards
Remains knowledgeable about industry-standard and best-in-class allocation methodologies and usage; incorporating into SunTrust processes where appropriate Qualifications
Experience in the financial services industry is needed. Must be able to demonstrate a clear understanding of how a Banks costs are derived. As well, a broad understanding of banking products and services is critical. Exposure to multiple business lines and/or product groups is helpful.
- Excellent financial analytic skills, verbal communication skills, and ability to communicate complex financial concepts to key clients in a concise and useful manner.
- Ability to develop a strategic vision and articulate a tactical game plan to achieve that vision is necessary. The ability to consider various alternatives and identify the solution that will deliver the highest value added results in the context of the relevant environment is essential.
- Ability to work well with others in a dynamic, team-oriented environment is required
- Demonstrated record of performance in working in both financial and operational business areas is required
- Ability to interpret financial and non-financial information into business improvement ideas required. Interpret and analyze cost information and apply to business needs.
- Proficiency with Word, PowerPoint, and Excel.
- Experience in detailed expense analysis leveraging Financial Management and ABC/M Systems in a financial or skill-transferable industry
- Bachelor’s degree or successful internship in relevant field
- Demonstrated skill in working with management in developing short and long term strategies.
- Strong skill and ability to make decisions and prioritize competing initiatives.
- Requires an independent thinker and someone willing to drive engagement
- ABC/M methodology expertise and proficiency
Equal Opportunity Employer: SunTrust supports a diverse workforce and is a Drug Testing and Equal Opportunity Employer. SunTrust does not discriminate against individuals on the basis of race, creed, color, gender, religion, national originTo review the EEO Poster, copy and paste the following link into your browser: http://www1.eeoc.gov/employers/upload/eeocselfprintposter.pdf http://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCPEEOSupplementFinalJRFQA_508c.pdf
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