At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.
Job Description
We are seeking a Strategic Costing Analyst to join the Enabling Functions Shared Services team. In this role, you will be a vital contributor to supporting cost review and challenge sessions, executing costing studies, conducting financial analysis, developing advanced financial models and reports, creating multi-dimensional reporting, and providing essential support for shared service allocations. Your analytical skills will play a pivotal role in optimizing our cost structures and driving financial excellence.
Key Responsibilities:
- Shared Service Allocations: Provide key support in preparing for shared service allocation methodologies, ensuring the accurate distribution of costs.
- Activity-Based Costing (ABC): Support the implementation and management of Activity-Based Costing methodologies to accurately allocate costs and enhance cost visibility.
- Costing Study Management: Offer critical support in the analysis of costing studies, enhancing cost transparency, and facilitating data-driven decision-making.
- Cost Review and Challenge Sessions: Collaborate effectively with cross-functional teams to lead cost review and challenge sessions, identifying opportunities for cost optimization and efficiency improvements.
- Financial Analysis: Conduct comprehensive financial analysis, including variance analysis, trend analysis, and scenario modeling, providing actionable insights to senior leadership.
- Allocation Financial Forecasting and Budgeting: Lead the analysis of financial allocation forecasts and annual budgets, providing cost-related input and recommendations.
- Financial Modeling and Reporting: Develop and maintain advanced financial models and reports that support strategic decision-making, financial planning, and forecasting.
- FASB Compliance and Corporate Accounting Policy: Lead FASB (Financial Accounting Standards Board) compliance and corporate accounting policies in all cost accounting and reporting activities.
Location Expectations
The role offers a hybrid/flexible schedule, which means there's an in-office expectation of 3 or more days per week and the flexibility to work outside the office location for the other days.
Basic Qualifications
- Bachelor's degree, or equivalent work experience
- Three or more years of related experience
Preferred Skills/Experience
- Bachelor’s degree in finance, Accounting, Business, or a related field.
- Minimum of 5 years of proven experience in cost analysis, financial analysis, and financial modeling, preferably within the banking or financial services industry.
- Proficiency in data analysis tools and software (e.g., Excel, SQL, data visualization tools).
- Strong communication, presentation, and data consolidation skills to efficiently summarize financial data and communicate complex financial concepts.
- Ability to work collaboratively in cross-functional teams and independently when required.
- Conduct ad hoc cost analyses utilizing advanced data analysis techniques and tools.
- Strong critical thinking skills and an initiative-taking mindset to identify cost opportunities.
- Knowledge of FASB compliance and corporate accounting policies is a plus.
If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.
Benefits:
Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours):
Healthcare (medical, dental, vision)
Basic term and optional term life insurance
Short-term and long-term disability
Pregnancy disability and parental leave
401(k) and employer-funded retirement plan
Paid vacation (from two to five weeks depending on salary grade and tenure)
Up to 11 paid holiday opportunities
Adoption assistance
Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law
EEO is the Law
U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors. Applicants can learn more about the company’s status as an equal opportunity employer by viewing the federal KNOW YOUR RIGHTS EEO poster.
E-Verify
U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.
The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $83,810.00 - $98,600.00 - $108,460.00Job postings typically remain open for approximately 20 days of the posting date listed above, however the job posting may be closed earlier should it be determined the position is no longer required due to business need. Job postings in areas with a high volume of applicants, such as customer service, contact center, and Financial Crimes investigations, remain open for approximately 5 days of the posting listed date.
