Specialist, Cost Strategy & Management MY

Job Purpose

Responsible for planning, monitoring, and analysing the bank’s cost performance to ensure financial discipline, efficiency, and alignment with strategic priorities. The role provides clear visibility on cost drivers, supports cost optimisation initiatives, and partners with business and functional units to deliver sustainable cost outcomes while maintaining strong governance and controls.

Key Responsibilities

Cost Planning & Budgeting

• Assist the Lead of Cost Strategy & Management in cost budgeting and forecasting processes, including annual budget, rolling forecast, and outlook updates.
• Assist in developing cost plans aligned with strategic initiatives, productivity targets, and cost‑to‑income objectives.
• Support allocation of resources across business units and functions.

Cost Performance Monitoring & Analysis

• Monitor actual costs versus budget, forecast, and prior periods.
• Perform variance and trend analysis across key cost categories (staff, IT, premises, marketing, professional fees, etc.).
• Identify cost drivers, risks, and opportunities for efficiency improvements.

Cost Optimisation & Productivity

• Support design, tracking, and governance of cost optimisation and productivity initiatives.
• Track benefits realisation and savings delivery against approved targets.
• Provide insights on fixed vs variable cost structures and scalability.

Business Partnering & Challenge

• Act as a finance partner to business and support functions, providing cost transparency and constructive challenge.
• Review and assess cost proposals, investments, and headcount requests.
• Support prioritisation of spend in line with strategic and financial objectives.

Management Reporting & Insights

• Prepare clear cost management reports and dashboards for senior management and committees.
• Highlight emerging cost pressures and recommend mitigating actions.

Key Dimension of Impact

Financial impact with best in class cost-to-income ratio.

Job Specification

Qualifications

Bachelor’s Degree in Accounting/Finance/Engineering or equivalent

Professional Qualification and/or Regulatory, Licensing requirements

ACCA/ MICPA/ CPA/ ICAEW/ MIA (added advantage)

Relevant Work Experience

• Minimum 3 to 8 years of experience in large and established commercial or service-based organisation, financial institution or public accounting firm with strong focus in strategic cost management, budgeting, forecasting and financial analyses
• Working knowledge of a broad spectrum of banking operations
• Experience in project managing, deploying or participating in cost control initiatives for business or organisation
• Ability to interpret and present business results and provide meaningful insights for improving cost efficiency strategically
• Experience in using integrated models in the financial planning framework with well-structured analytics

Required Competencies and Skills

Technical/Functional skills

• Financial Planning i.e. Cost Planning, Forecasting and Budgeting
• Cost Management Framework
• Industry Best Practices on Cost Control Initiatives
• Banking Products, Operations and Environment
• Financial and Accounting Expert Knowledge
• End-to-end Finance Processes
• Accounting Standards (FRS/ MFRS)
• Financial Modelling, Analytics and Planning Tools
• Macro and Micro Economics Knowledge
• Commercial/ Business Acumen
• Project Management Principles

Non-Technical Skills

• Strategic Thinking
• Innovative
• Creative
• Influence
• Stakeholder Management
• Change Management
• Facilitation