U.S. Bank

Cost Strategy Analyst

U.S. Bank • $92K — $109K *
Charlotte, NC 28269In-Person
Finance & Insurance
Less than 5 years of experience
Today
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Job Overview by Ladders

Qualifications

  • Bachelor's degree or equivalent work experience
  • 3+ years of related experience in cost analysis or financial modeling
  • Proven expertise in cost analysis, particularly in the banking or financial services sector
  • Proficiency in data analysis tools (e.g., Essbase, Power BI)
  • Strong communication and presentation skills for financial data summarization

Responsibilities

  • Provide support for shared service cost allocation methodologies
  • Implement and manage Activity-Based Costing (ABC) strategies
  • Analyze costing studies to enhance cost transparency
  • Collaborate in cross-functional cost review and challenge sessions
  • Conduct comprehensive financial analyses including variance and trend analysis
  • Lead financial forecasting and budgeting for allocations
  • Develop advanced financial models and reports for decision-making

Benefits

  • Healthcare (medical, dental, vision)
  • Term life insurance options
  • Short- and long-term disability coverage
  • Pregnancy disability and parental leave
  • 401(k) with employer contribution
  • Paid vacation (2-5 weeks based on tenure)
  • Up to 11 paid holidays
  • Adoption assistance
  • Sick and Safe Leave accruals
Full Job Description
Job Description

We are seeking a Strategic Costing Analyst to join our Cost Allocations team. In this role, you will be an essential contributor, executing costing studies, performing financial analyses, supporting review and challenge sessions, and creating multi-dimensional reports. Additionally, you will provide critical support for cost allocation processes. Your strong analytical skills will be instrumental in optimizing our cost structures and driving financial excellence.

Primary Responsibilities

  • Cost 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 support 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.

Basic Qualifications

  • Bachelor's degree, or equivalent work experience

  • Typically three or more years of related experience

Preferred Skills/Experience

  • 3+ 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., Essbase, Power BI, 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.

*This role requires working from a U.S. Bank location three (3) or more days per week.

Benefits:

Our approach to benefits and total rewards considers our team members9 whole selves and what may be needed to thrive in and outside work. Thats 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.

About U.S. Bank

U.S. Department of the Treasury is a government agency responsible for promoting economic prosperity and ensuring financial security. The department is responsible for a wide range of activities such as advising on economic and financial issues, encouraging sustainable economic growth, and fostering improved governance in financial institutions.

U.S. Bank Careers

Join the dynamic team at U.S. Bank, one of the nation's top banking institutions, where your career journey is as promising as the services we provide to our customers. At U.S. Bank, we are committed to fostering a culture of innovation, leadership, and diversity that is unmatched in the industry.

Explore Job Opportunities and Growth

At U.S. Bank, we offer a variety of job opportunities that cater to a range of skills and professional interests. Whether you are looking for a position in finance, technology, customer service, or management, U.S. Bank is hiring talented individuals who are eager to contribute to our mission and grow with us.

Internship Programs

Kickstart your career with U.S. Bank’s internship programs. These opportunities are designed for ambitious students who want to gain hands-on experience and develop essential skills in a real-world setting. Our internships provide a platform to engage with experienced professionals and explore potential career paths within the company.

Benefits and Employment Perks

Choosing a career at U.S. Bank means more than just employment. We offer comprehensive benefits designed to enhance your life and well-being. From health and wellness programs to retirement plans, we ensure our team members are supported both personally and professionally.

Our Commitment to Diversity and Inclusion

Diversity and inclusion are at the core of our values at U.S. Bank. We are dedicated to creating an environment where all employees feel valued and included. Our diversity training programs are part of our commitment to an inclusive workplace, where everyone can thrive.

Leadership and Professional Development

Leadership at U.S. Bank is about more than guiding teams – it's about inspiring them. We invest in leadership training and professional development programs that help our employees become the best in their fields. By fostering a culture of learning and growth, we prepare our team members to take on new challenges and leadership roles.

Networking and Innovation

Networking at U.S. Bank goes hand in hand with innovation. Our employees are encouraged to connect with colleagues and industry leaders through various networking events and professional groups. This collaborative environment fuels innovation and allows us to stay ahead in a competitive industry.

Join Our Team

Are you ready to take the next step in your career? Explore the open positions at U.S. Bank and find where your skills and passions align with our needs. Prepare your resume, sharpen your interview skills, and get ready to join a team where your career can flourish.

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Discover the exciting and rewarding career opportunities waiting for you at U.S. Bank. Search and apply for jobs that match your skills and interests. Join us and be part of a team that values growth, leadership, and innovation.

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Stay ahead in your career with U.S. Bank – where your growth is our priority.
Learn more about U.S. Bank
Size
68,796 employees
Market Cap
$66.2 billion
Industry
Finance & Insurance
Net Income
$4.9 billion
5 Year Trend
+0.5%
NASDAQ
USB
* Ladders Estimates

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