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Urgent Opening for Cost Analyst - Mumbai - Leading banking sector

Keywords / Skills : Costing, Costing Officer, Costing MIS, Project Costing, Cost Controlling, Cost Management

2 - 7 years
Posted: 2018-05-16

Banking/ Financial Services
Finance & Accounts
Financial/ Business Analyst
Any graduate
Posted On
16th May 2018
Job Description
Job Description:

  • 1. Prepare realistic budgeting which goes in line with actual of prior periods by engaging with businesses, functions and business MIS teams 
  • 2. Analysis of expense wise variance on a monthly basis for internal reporting as well as quarterly for statutory auditors 
  • 3. Follow-ups with different departments on a monthly basis for providing expense provisions/accruals and validation of the same 
  • 4. Release of branch level expense reports on a monthly basis. 
  • 5. Compiling and providing all cost related information necessary for SOX compliance 
  • 6. Daily scrutiny of expense movement to a have pulse of unplanned movements 


Expenses covered for analysis

a. Printing and Stationery
  • b. Postage 
  • c. DSA Cost 
  • d. Facility Management 
  • 1. Expenses showing abnormal variances are analyzed at GL level by reviewing the vendor dump, CRS provisions, FAG adjustments, trends, drivers, etc. 
  • 2. Further analysis takes place as per the requirement of Senior Management while reviewing the OPEX Analysis. 

Cost Center Templates
  • 1. This activity involves in analysis of the cost budget numbers provided by businesses. The numbers viewing abnormal is considered only after receiving justification basis trends, income budget, productivity, competition, mandate from RBI or senior managements, etc with requisite Group Head approvals. 

Branch Banking Budgets
  • 1. Preparing branch level budgets for branch banking cost centers. Budgeting basis quarterly sanctioned staff and past trends for expenses related to staff and transactions respectively. 

ADFC Manpower Cost Budget
  • 1. Budget prepared for existing and additional ADFC employees basis average monthly salary which includes the impact of yearly bonus, increment and performance awards. 
  • 2. The focus of this program is to prepare a more realistic cost budget that is in line with the trend by engaging business, MIS teams, functions, etc. 

Expense Level budget
  • 1. Budget for dealing room expenses 

Monthly Provisioning
  • 1. Provisioning for expenses related to Printing and Stationery and Postage on

Revert me back with updated CV, if interested. Feel free to contact me on +91 8347144424, if you have any queries.

About Company

Welcome to Forret India a leading professional service giving company that helps organizations improve performance through effective people.
The effective relationship between the employer and employee is the key to any organizational structure.
Our core competency is in field of HR consultancy and Recruitment solutions. Forret India is a professionally managed Recruitment Consulting Company focusing on the growing needs of staffing solutions like Permanent Staffing, Temporary Staffing, Executive Search and Assessment Center in the field of HR.
The company has nurtured varied resources for offering solutions as per the exact requirements of the clients. Owing to these resources that are efficiently managed by our team of domain experts, we have been able to device industry specific recruitment solutions. Our professionally developed screening process is designed in such as way that only the best in class talents are selected possessing right skill sets for the particular job.
Continual upgradation of our services to match up with the changing global industrial and business needs has been our sole effort. Competent handling of a number of infrastructure projects in an economical way has added another feather to our cap. Assisted with the in-house computer hardware and software, we have redefined computer aided feasibility studies.
We are always open for long term relationships and see your business touching the sky of success.
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