Senior Cost Strategy Analyst

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

This job posting represents 2 open roles, and we’re excited to consider candidates for both opportunities.

Join the Enabling Functions Shared Services team as a Senior Cost Strategy Analyst, specializing in supporting Banking Operations Finance allocations. In this role, you will play a pivotal role in enhancing cost efficiency, conducting cost review and challenge sessions, managing costing studies, and performing in-depth financial analysis for Banking Operations Finance allocation initiatives. Your expertise will be instrumental in developing financial models, multi-dimensional reports, and contributing to process development and governance. As a Senior Cost Strategy Analyst in shared service allocations, you will ensure accurate cost distribution, driving financial excellence across the organization.

Key Responsibilities

• Shared Service Allocations: Lead the development and execution of shared service allocation methodologies, ensuring accurate distribution of costs among various business lines.
• Cost Review and Challenge Sessions: Drive cost review and challenge sessions with business partners, analyzing cost structures, identifying cost-saving opportunities, and offering valuable insights for decision-making.
• Costing Study Management: Perform Activity-Based Costing studies in partnership with business partners and stakeholders to facilitate informed decision-making and enhance cost efficiency.
• Financial Analysis: Lead in-depth financial analysis, including variance analysis, trend analysis, and scenario modeling, providing actionable insights to leadership.
• Cost Efficiency Improvement: Identify and lead opportunities to improve cost efficiency and enable sustainable business growth through data analysis and process enhancements.
• Multi-Dimensional Reporting: Develop and maintain multi-dimensional reporting providing insights into cost objects of spend and opportunities for cost optimization.
• Allocation Financial Forecasting and Budgeting: Lead the analysis of financial forecasts and annual budgets, providing cost-related input.
• Financial Modeling and Reporting: Lead the design and maintenance of complex financial models and produce reports that facilitate strategic decision-making at both the operational and executive levels.
• Process Development and Governance: Lead the development, implementation, and enhancement of processes, systems, and controls, ensuring governance and oversight in cost and allocation processes.
  
  
  

Basic Qualifications

• Bachelor's degree, or equivalent work experience
• Six or more years of related experience
  
  
  

Preferred Skills/Experience

• Bachelor’s degree in Finance, Accounting, Business, or a related field. Master's degree or relevant certifications are a plus.
• 6 years of relevant experience in cost analysis, shared service allocations, and cost strategy, with a background in Banking Operations Finance.
• Domestic travel up to 15% of the time
• Strong quantitative and data analysis skills with a solid commitment to accuracy.
• Proficiency in data analysis tools and software (e.g., Excel, SQL, data visualization tools).
• Exceptional communication and presentation skills, with the ability to convey complex financial concepts effectively.
• Demonstrated leadership and the ability to work collaboratively in cross-functional teams and independently when required.
• Strong critical thinking skills and an initiative-taking mindset to identify cost-saving opportunities.
• Knowledge of banking products and services is highly desirable.
• This role requires working from a U.S. Bank location three (3) or more days per week.
  
  
  

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:

• 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
  
  
  

Review our full benefits available by employment status here.

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

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: $119,765.00 - $140,900.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Posting may be closed earlier due to high volume of applicants.