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Cost Accounting Analyst

Employer
City National Bank
Location
Los Angeles, USA
Salary
Competitive
Closing date
Jul 23, 2024

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Job Function
Accounting/Audit/Tax
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
COST ACCOUNTING ANALYST

WHAT IS THE OPPORTUNITY?

The Cost Accounting Analyst will contribute to the Cost Accounting group by performing data analysis and reporting tasks including current production processing used to support the department's and bank's lines of business. This position will instrumental in the development and maintenance of cost allocation methods and systems to accurately and adequately analyze costs and identify opportunities for improvement. This role requires the ability to translate business problems into solutions driven by data analysis, business acumen, creativity, and clear, concise and effective communication.

What you will do

  • Analyze complex enterprise-wide problems and develop solutions with limited direction.
  • Uses judgement to resolve low to moderately complex questions and escalates highly complex issues to levels above.
  • Analyze and report on periodic variances and their causes to assess validity of costing methods, assumptions and inputs.
  • Work with data consumers to define and document explicit business requirements for cost and profitability reports.
  • Using Excel, Access and/or PL/SQL perform ad hoc analyses and reporting for a wide range of purposes, including cost accounting, profitability, reconciliation, and business metrics, among others.
  • Conducts monthly cost allocation processes and addresses questions related to monthly outputs.
  • Conducts quarterly and annual cost accounting updates including preparing expense pools.
  • Identify, analyze, and translate business requirements to technical specifications to enhance the multi-dimensional activity based costing system used to allocate standard costs to clients, products, and cost centers.
  • Provide and implement recommendations for improvements to the cost accounting process.
  • Participate in time study interviews that include identifying and analyzing organizational and process change needs, defining new activities and collaborating with the technology team to implement the system enhancements.
  • Collaborate with other team members maintaining on-going relationship with specific bank units to support the end to end cost accounting process from time study interviews to monitoring for operational changes and addressing adhoc questions.
  • Develop and maintain positive, productive, and professional relationships with key business partners to meet expected customer service levels.
  • Identify and recommend process improvements within assigned bank units to improve data availability and drive better costing results
  • Keep informed of existing and evolving best practice, industry standards and technologies.
  • Maintain all appropriate training and continuing education requirements for both internal programs and external licenses and certifications.
  • Comply fully with all Bank Operational policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Know Your Client, Community Reinvestment Act, Fair Lending Practices, Code of Conduct, etc.).

Must-Have*
  • Bachelor's Degree or equivalent
  • Minimum 5 years of financial analysis experience, preferably in a data-intensive financial company.
  • Minimum 3 years cost accounting experience, preferably using activity based costing.
  • Minimum 2 years working with large databases using Excel, Access and/or PL/SQL.
  • Minimum 1 years working in a client facing business support role.

Skills and Knowledge
  • General knowledge of accounting/finance principles and theory.
  • Prior experience in Financial Services industry a plus.
  • Possesses attention to detail and excellent problem-solving and analytical skills.
  • Good understanding of project management methodologies and procedures.
  • Able to prioritize tasks and handle multiple projects at the same time, working under tight deadlines. Relies on experience and judgment to plan and accomplish assigned tasks and goals.
  • Strong interpersonal, written and verbal communication skills with demonstrated ability to work in a team environment. Able to communicate clearly and professionally with all levels of an organization.
  • Ability to express complex technical concepts in business terms.

Compensation

Starting base salary: $37.96 - $60.64 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.

*To be considered for this position you must meet at least these basic qualifications
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.

Benefits and Perks

At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks.

INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.'

ABOUT CITY NATIONAL

We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies.

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