Senior Cost Financial Specialist - Openbank
Join Openbank the 100% digital bank of the Santander Group, where innovation meets opportunity! With over 2 million customers across Spain, Germany, the Netherlands, Portugal, we're leading the way in digital banking. From loans and mortgages to a cutting-edge, fully automated investment platform, our products are transforming the industry.
At Openbank, we pride ourselves on simplicity, agility, and security, earning us the title of the most recommended Spanish bank among our customers. And we're not stopping there! As we expand internationally, with plans to launch in Mexico and the United States, there's never been a more exciting time to join our team.
If you're passionate about digital innovation, eager to make an impact, and ready to be part of a dynamic and forward-thinking company, then we want to hear from you! Join us and be part of our journey to redefine banking for the digital age!
Mission:
The Senior Cost Financial Specialist will be responsible for managing and analyzing cost structures within the organization to enhance financial performance. This role involves coordinating with the rest of areas in the bank, evaluating cost drivers, developing forecasting and allocation cost models, and providing actionable insights for management to optimize costs.
The ideal candidate will have a strong background in financial analysis, cost management, and a deep understanding of banking operations.
Responsibilities:
Cost Analysis & Reporting:
Analyze and report on banking-specific cost data, including personnel expenses, operational costs and IT systems.Conduct detailed cost variance analysis to monitor trends, investigate discrepancies, and recommend corrective actions.Prepare regular cost reports for senior management, highlighting key financial metrics and areas for improvement.Cost Control & Optimization:
Collaborate with various banking departments (T&O, Risk, Marketing, etc.) to identify inefficiencies and optimize cost structures.Implement cost-saving strategies across the organization while maintaining service quality and compliance with regulatory standards.Cost allocation: Define and implement a cost allocation methodology per country, business, product and client.Budgeting & Forecasting:
Support the preparation and ongoing management of budgets and 3 years plans, focusing on cost drivers specific to banking operations.Develop cost forecasts and track performance against budgeted targets, adjusting for changes in business strategy or market conditions.Provide cost projections for new initiatives, such as branch openings, technology upgrades, or regulatory compliance investments.Internal & External Reporting:
Prepare and present cost performance reports for internal stakeholders, including the executive team, department heads, and board of directors.Assist in preparing financial reports for external stakeholders, including regulators, auditors, and investors.Data Management & Systems:
Leverage banking-specific financial systems (e.g., core banking systems, financial planning software) to collect, manage, and analyze cost data.Ensure the accuracy and integrity of financial data, working with IT and other departments to streamline systems and processes.Continuously evaluate cost data collection methods to improve financial analysis and reporting accuracy.Collaboration & Support:
Work closely with other departments (e.g., Risk Management, Compliance, Operations) to align cost data with the broader business strategy.Support project teams in evaluating the financial impact of strategic initiatives, such as product launches or digital transformation projects.Provide financial analysis to support key decision-making processes within the bank, especially related to operational efficiency and cost management.Ad-hoc Analysis:
Lead or support ad-hoc financial analyses related to cost structure changes, operational audits, or efficiency initiatives.Analyze financial risk exposure related to cost drivers and propose mitigation strategies to senior management.To be successful in the role you must have:
Bachelor’s degree in Business administration, Finance, Accounting, Economics, or a related field.5+ years of experience in cost analysis, financial management or audit/consultancy works, with a focus on the banking or financial services industry.Strong understanding of banking operations, preferably in digital retail banking and IT costs.Experience in budgeting, forecasting, and financial modeling for financial institutions.Strong analytical skills with the ability to interpret financial data and provide strategic insights on cost management.What do we offer?
Immediate incorporation to a dynamic and agile company with a growth and expansion project.Working in start-up mode with the support of Grupo Santander.Competitive remuneration and attractive benefits package.Possibility of growth within the company and the Group.Collaboration in international projects and possibility of contact with different countries.Excellent work environment, social clubs and frequent events.Would you like to grow with us? Join our team!
Openbank is an equal opportunity employer. All applicants will be considered as equal without paying attention to gender identity, sexual orientation, ethnicity, religion, age, political orientation, union membership nor disability status.
We make recruiting decisions based on your experience and skills. We value your passion to discover, invent, simplify and build.
If you´re not currently living in Madrid or Valencia and you are open to relocate yourself, we would still love to consider your application
The personal data you provide as well as any data generated during the selection process are confidential and will be processed by Open Bank, S.A./ Open Digital Services, S.L. with registered office at Plaza de Santa Bárbara 2, 28004 (Madrid), for the sole purpose of managing your participation in the selection processes and, where appropriate, to formalise your recruitment.
For further information about your rights and data protection, please read the ODS/Openbank Privacy Policy applicable to this type of data processing here.
#OPENBANK