Cost Analyst - IT - Finance

Job Purpose

• IT cost overview including detailed project spends validation by coordinating with various stakeholders involved for decision-making.
• Ensure compliance with defined processes w.r.t RA, Stakeholder’s consensus, Business benefits are adhered for IT spends.
• Develop and maintained monthly dashboard / KPI reporting for IT application support verticals; coordinated reporting and analysis of expense, staffing and KPI’s to achieve cost / service performance targets.
• Assist in unit cost analysis and identification of cost savings opportunities in IT spend

Job Responsibilities :

Actionable

IT Process & Controls

• Examine if procurement process is being followed, business sponsor & cost code allocations are in line.
• Responsible for analyzing the trends/variances identifying business drivers for meaningful summary and analytics.
• Liaison effectively with Top management level stakeholders from compliance & process perspective.

IT Funding Cost Validation

• Validate the total cost of ownership for proposed CAPEX and liaison with other finance analysts to validate business justifications which may include :
• New solution implementation
• New Infra requirements (Capacity/ Tech Obsolescence)
• Product related enhancements in User Application
• Validate estimation of Banks IT recurring cost which includes :
• Software AMC
• Hardware AMC
• Professional/ Managed support service
• FM charges
• IT security spends
• Data center & Data Circuit related spends etc.

Budgeting & Reporting

• Coordinate for the IT annual budget, forecast, analysis and variance reporting processes & liaising with Tax, legal & Cost teams
• Maintain confidentiality and to protect privacy of information & Document work procedures as needed

Educational Qualifications

Key Skills

• Graduation: Graduate any
• Post-Graduation: CA / ICWA / MBA (Finance)

Certifications:

• JAIIB/ CAIIB (Optional)
• ITIL/ PRINCE2/ PMP/ COBIT (Optional)
• Understanding of IT services Management
• Process and quality orientation
• Banking Product & Process Knowledge
• Knowledge of Competition & Current trends in financial Industry.
• Planning and Organizing Skills
• Effective Communication.

Experience Required

• 10+ Years of experience as Finance analyst with good understanding of IT systems and IT infrastructure items.
• Should be able to validate, discuss proposed IT Spends with multiple and senior level stakeholders independently with minimum supervision.
• Financial acumen for detailed validation of proposed IT spends.
• Experience in financial analysis, strong quantitative and analytical skills for financial modeling.

Major Stakeholders (intra team and cross functional stakeholders, who would need to be interacted with for discharging duties)

• IT Strategy and Design
• IT Operations Team/ Business Technology groups
• IT Security Team
• Legal & Taxation Team
• IT procurement & Governance
• Other Support teams.