IT Service Cost Analyst

Financial Ombudsman Service; Greater London; Hybrid; GBP 34,000 - 46,000; Full time

Benefits offered by this job

25 days holiday entitlement

Generous pension

Private medical insurance

Gym membership

On-site gym London

Job summary

The Financial Ombudsman Service is hiring an IT Service Cost Analyst in London for a 12-month maternity cover. The role focuses on centralising IT purchases, raising requisitions, matching invoices, and tracking spend against budgets in a hybrid working environment.

You will collaborate with IT and Finance colleagues, ensuring timely payments, contract renewals, and accurate cost data in the CMDB, while driving cost-efficiency and compliance across IT services.

Qualifications

• Experience in IT procurement and cost management.
• Knowledge of Hornbill, Workday, Excel, Word and PowerPoint.
• Understanding of tax and accounting terminology.
• Experience with purchase orders and invoices.
• Experience tracking IT contract spend.
• Familiarity with ITIL service cost management.

Responsibilities

• Raise purchase requisitions in Workday and receipting invoices.
• Manage purchase orders and monitor spend against budget.
• Ensure timely supplier payments and resolve invoice queries.
• Support contract renewals and liaise with resellers/service providers.
• Maintain procurement and asset records and generate management reports.
• Identify opportunities to improve cost efficiency and compliance.

Skills

IT procurement

Hornbill

Workday

Excel

Word

PowerPoint

Zero Based budgeting

Purchase orders

Invoices

Budget monitoring

Tax terminology

ITIL service cost management

Tools

CMDB

Job description

IT Service Cost Analyst

Join a team where Purpose drives everything we do, Ambition fuels our growth, Respect shapes our culture and Trust builds our foundation. We're not just hiring we're inviting you to build the future with us. If you're curious, driven, and ready to leave your mark, this is your invitation to make your next move.

Contract: 12 months maternity cover. Working hours: 35 hours per week is full time. Salary: Circa £40,000 Location: London Reporting to: Service Management Manager

By joining our team, you'll enjoy the best of both worlds – hybrid working and the collaboration of a great office environment. Our permanent hybrid policy sees us all working at least four days across a fortnight in the office. As well as extensive opportunities for personal and career development.

About Us

At the Financial Ombudsman Service, we make decisions on a range of complex and difficult issues. Every year we resolve thousands of disputes between consumers or small businesses and their financial service providers.

The purpose of your role Service management provide a centralised function to IT, raising all Requisitions, purchase orders and receipting of invoices. Working closely with IT colleagues as well as Finance business partners, Accounts payable and project managers this role will help improve the way in which we as a department manage and track spend. It will work to improve the processing or all IT purchases. As well as purchasing, this role will work to associate costs to services and components of the CMDB to give a holistic view of our costs at providing services.

You’ll be responsible for Raising purchase requisitions in Workday, validating and receipting invoices, managing purchase orders, monitoring spend against budget, and ensuring suppliers are paid in line with agreed payment terms. managing the IT procurement queue, engaging with resellers and service providers to obtain quotes and resolve invoice queries, supporting contract renewals, and building strong relationships with colleagues, project teams, suppliers and customers across the organisation. maintaining accurate procurement and asset records, auditing cost data within the CMDB, producing management reports, documenting processes, sharing knowledge with colleagues, and identifying opportunities to improve service quality, efficiency and compliance. This role plays a key part in ensuring the smooth and effective management of IT purchasing, supplier relationships, financial controls and contract administration, while supporting projects from initial concept through to business-as-usual delivery.

Minimum Criteria

• Working in an IT environment and having an understanding of technology estates.
• Having knowledge of tools such as Hornbill, Workday and Microsoft apps such as excel, word and powerpoint.
• Experience following a Zero Based budgeting methodology.
• Working with purchase orders and invoices.
• Spending tracking across IT contracts and purchases.
• Understanding of Tax and accounting terminology.
• An understanding of service cost management in an ITIL framework.

It would also be nice for you to have

• Effective planning and organising skills to meet key deadlines around reporting – including creating the reports in Microsoft Excel, PowerPoint and tailoring them to stakeholder needs.
• Communication skills to suggest improvements, share knowledge and understand feedback from our people.

Why You’ll Love Working With Us

We are a values led organisation. Our values define our culture, influence our decisions, and underpin our vision and strategy. They set out how we play our PART through Purpose, Ambition, Respect and Trust. You can learn more about our values here: https://www.financial-ombudsman.org.uk/who-we-are/aims-values

Flexibility: Work your way — remote, hybrid, or in-office

Wellbeing: [Health plan, gym memberships, mental health support]

Growth: We invest in your future with [courses, mentorship, promotions]

Culture: Diverse. Inclusive. Collaborative. Fun.

We also offer an attractive, competitive salary and flexible benefits to suit our people.

Here’s a list of some of the many benefits and perks you can get for working with us:

• 25 days holiday entitlement, with the option to buy extra or sell days
• Generous pension
• Various Family Friendly Policies, including enhanced maternity pay, carers and dependants leave
• Employer provided benefits such as Private medical insurance, virtual GP, Critical illness cover, Life assurance cover, to name a few
• Choice of voluntary benefits including Technology scheme, Cycle to work scheme, Will-writing service amongst others
• Gym membership discounts, and a fully equipped on-site gym open 24/7 in London only

We are proud to be a Disability Confident Leader and, under the scheme, will progress a fair and proportionate number of disabled applicants who meet the minimum criteria to interview.

Interviews may be conducted via video, telephone, or a panel Interview, with some vacancies requiring an online assessment to measure the minimum criteria.

The Financial Ombudsman is an Equal Opportunity Employer. We celebrate diversity and are committed to creating an inclusive environment for all team We view diversity as fundamental to our success and welcome applications from underrepresented groups across all communities.

We are proud to be a Disability Confident Leader. Disabled applicants who fulfil the minimum criteria for the role will be progressed to the next stage of the process. Do let us know of any reasonable adjustments you need. You will need to demonstrate that you meet the minimum criteria in order to qualify for the Disability Confident scheme.

We are a diverse organization; we embrace difference and treat everyone as equals. We’re a diverse organisation, but something we all share is our values. They’re central to the way we work – and work together. We’re an independent, not-for-profit organisation that sorts out disputes between financial businesses and their customers. We do this by making decisions that are fair – and feel fair to both sides. The Financial Ombudsman Service is an equal opportunities employer. All applicants will be treated in a fair and equal manner and in accordance with the law, regardless of gender, marital status, race, religion, colour, age, disability or sexual orientation. We’re committed to being a great place to work – attracting and developing people from the widest possible range of backgrounds. We want everyone to perform at their best and feel able to be themselves. We understand that if we’re diverse and inclusive, we’ll better understand different perspectives, which is fundamental to our job resolving financial complaints.