Finance Head Costing

Rand Merchant Bank; Johannesburg; On-site; ZAR 60 000 - 100 000; Full time

Job summary

An established industry player is seeking a skilled finance professional to oversee cost management functions, focusing on cost attribution and optimization strategies. This pivotal role involves developing methodologies for cost allocation, managing accounting systems, and providing strategic financial guidance. The ideal candidate will lead digital transformation initiatives, ensuring compliance with financial regulations and fostering a culture of cost efficiency. Join a dynamic team where your insights will directly influence financial health and growth objectives, making a significant impact on the organization’s success.

Qualifications

• Experience in cost management and financial planning.
• Strong analytical skills for financial reporting and compliance.

Responsibilities

• Oversee cost management function and develop allocation methodologies.
• Lead financial planning and analysis to support strategic decisions.

Skills

Cost Management

Financial Planning

Cost Accounting

Financial Reporting

Data Analysis

Regulatory Compliance

Risk Assessment

Digital Transformation

Education

Bachelor's Degree in Finance

Master's Degree in Business Administration

Tools

Cost Accounting Systems

Financial Software

Job description

Job Location : Gauteng, Johannesburg
Deadline : May 09, 2025

Job Description

The role involves overseeing the cost management function within the bank, focusing on cost attribution, control, and optimisation strategies. Key responsibilities include:

1. Developing and implementing cost allocation methodologies that accurately assign costs across banking products, services, and departments.
2. Managing cost accounting systems to support strategic financial decision-making, ensuring alignment with financial strategy, regulatory standards, and profitability goals.
3. Playing a pivotal role in financial planning and analysis, providing insights into cost behaviour to support business decisions.
4. Developing financial strategies that promote sustainable financial health and regulatory compliance.
5. Implementing robust financial controls, governance, and compliance frameworks to mitigate risks and ensure accurate financial reporting.
6. Providing strategic financial guidance, including risk assessment and evaluation to support growth objectives.
7. Leading digital transformation initiatives to enhance financial reporting, analytics, and operational efficiencies.
8. Delivering presentations and representing the finance function at various forums within the organization.
9. Leading cost reduction and efficiency improvement initiatives.
10. Overseeing costing strategies aligned with financial objectives and growth plans.
11. Collaborating with senior management to optimize product and service profitability through cost efficiency and allocation.
12. Working with Business Unit Finance teams to produce insightful reports for senior executives.
13. Preparing comprehensive costing reports for stakeholders, highlighting cost drivers and allocations.
14. Ensuring accurate cost reporting and regulatory compliance (e.g., IFRS, Basel III).
15. Implementing cost control measures and monitoring their effectiveness.
16. Collaborating with operations and risk management to align cost initiatives with operational and risk policies.
17. Developing KPIs related to cost efficiency and monitoring progress against targets.
18. Partnering with leadership to align cost structures with strategic objectives.
19. Providing insights for strategic decisions on investments and product launches.
20. Leading and mentoring the finance team, fostering development and a cost-conscious culture.
21. Ensuring compliance with financial regulations and internal control standards.
22. Driving continuous improvement and innovation within the finance function.
23. Promoting cross-functional collaboration to integrate financial insights into business strategy.