JOB TITLE: Head of Group Cost Insights
SALARY: £114,810 - £135,070
LOCATION(S): Edinburgh, Bristol and London
HOURS: Full Time
WORKING PATTERN: Our work style is hybrid, which involves spending at least two days per week, or 40% of our time, at one of our office sites.
About this opportunity
An exciting opportunity has arisen as the Head of Cost Insights reporting to the Group Financial Planning and Analysis Finance Director. You’ll work across Lloyds Banking Group, providing vital scrutiny and challenge across our £9bn cost base and contributing to the Group’s ability to deliver our target cost shape.
This role is responsible for the leadership of a team of c.10 finance professionals, delivering analysis and insight to optimise costs, shape operating models, influence key partners and contribute to broader strategic plans and business decision making.
As the Head of Cost Insights, you’ll have a strong sense of purpose, the diplomatic skills to influence senior people and the relationship skills needed to quickly build rapport to have meaningful conversations.
Collaborating with COO and Finance teams, you’ll find ways to improve efficiency, drive value and deliver cost savings. Leading on cost category insights and governance into Group Cost Management Committee, you’ll provide insights and identify new cost opportunities as they emerge.
Day to day you’ll be:
Leading the Group Cost Insights team to provide cost leadership, challenge and insight development
Cost Category Lead for several key areas including Professional Services, Negative Income and Operations
Utilising your deep understanding of costs to identify saving opportunities, based on data and analysis and other tools e.g. benchmarking, best practice case studies
Working with partners across the Group to progress cost saving, or unit cost efficiency ideas
Developing and supporting delivery of the Group cost strategy, working closely with Group Strategy, Group Cost & Investment, Group Cost & Conduct, as well as Business Unit Finance and COO teams
Leading key Group-wide cost related programmes e.g. indirect costs
Managing relationships with strategic internal customers, collaborating to deliver business value
Making authoritative technical and/or professional recommendations that have significant short-term and long-term impacts on the business
Taking ownership for crafting and delivering change management plans and achieving outcomes that support the organisation's overall strategy
Providing integrated long-term solutions and strategies for a significant area of responsibility, e.g. a function to support the execution of business strategy
Build and maintain a high performing team to ensure colleagues are led and developed effectively, utilising the Group’s Your Best principles
Part of the Financial Planning & Analysis Leadership Team, contributing to establishing a clear common purpose across the team of c.50 colleagues
About us
We’re on an exciting journey to transform our Group and the way we’re shaping finance for good. We’re focusing on the future, investing in our technologies, workplaces, and colleagues to make our Group a great place for everyone. Including you.
What you’ll need:
Strong financial and commercial mindset, with experience of identifying and progressing cost saving initiatives.
Extensive cost management experience and associated cost subject matter expertise.
Outstanding interpersonal skills, with a proven track record of presenting to and engaging with senior audiences at Group ExCo level in a clear, concise way.
Strong stakeholder management and influencing abilities, adept at managing relationships in a matrix-led environment
Strong technical, data analytical skills with clear ability to disseminate complex information into digestible and easy to understand reporting for multiple audiences.
Excellent leadership capabilities, able to motivate, drive delivery and empower teams to deliver in line with our cultural values.
Collaborator who can initiate and lead conversations to understand and challenge and thus advise on emerging issues and opportunities
Building strong working relationships across diverse partners, senior stakeholder management with a collaborative approach to delivery, but retaining willingness and ability to challenge
Breadth of knowledge across the relevant businesses of Lloyds Banking Group and wider Financial Services industry, including understanding economic, regulatory and social trends
And any experience of these would be really useful
Demonstrate resilience, adaptability, and openness to innovate and test new ideas.
Effective at managing trade-offs and conflicting objectives within the broader Group strategy.
Role models a desire to develop skills and experience, creating space to learn and collaborate.
Qualified Accounting/Finance professional with proven track record in financial analysis, demonstrating a strong understanding of commercial business drivers
About working for us
Our ambition is to be the leading UK business for diversity, equity and inclusion supporting our customers, colleagues and communities, and we’re committed to creating an environment in which everyone can thrive, learn and develop.
We were one of the first major organisations to set goals on diversity in senior roles, create a menopause health package, and a dedicated Working with Cancer Initiative.
We offer reasonable workplace adjustments for colleagues with disabilities, including flexibility in office attendance, location and working patterns. And, as a Disability Confident Leader, we guarantee interviews for a fair and proportionate number of applicants who meet the minimum criteria for the role with a disability, long-term health or neurodivergent condition through the Disability Confident Scheme.
We provide reasonable adjustments throughout the recruitment process to reduce or remove barriers. Just let us know what you need.
We also offer a wide-ranging benefits package, which includes:
A generous pension contribution of up to 15%
An annual performance-related bonus
Share schemes including free shares
Benefits you can adapt to your lifestyle, such as discounted shopping
30 days’ holiday, with bank holidays on top
A range of wellbeing initiatives and generous parental leave policies
If you’re excited by the thought of becoming part of our team, get in touch! We’d love to hear from you!
