Strategy Cost Analyst

at  US Bank National Association

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.

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.

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.

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 la