IDFC FIRST Bank – Analyst (Cost Management)

Job Description:
IDFC FIRST Bank is seeking a proactive and analytical Cost Management Analyst to join its Finance division in Mumbai. This role is an integral part of the Cost Management Team, responsible for driving cost optimization initiatives and enhancing operational efficiency across the organization. The ideal candidate will work closely with various business units and support teams to analyze cost drivers, identify areas for improvement, and recommend strategic actions to reduce the cost-to-income ratio while maintaining performance and service quality.

In this position, you’ll be involved in systematic cost tracking, data collection, and analytical reporting that supports the bank’s long-term financial goals. You will collaborate with multiple stakeholders to ensure data accuracy, develop insights on expenditure trends, and assist in formulating practical cost-control strategies. This role offers a unique opportunity to learn financial data analytics, business process optimization, and cost governance in one of India’s fastest-growing private sector banks.

Working in IDFC FIRST Bank’s high-performance finance environment, you’ll gain exposure to strategic financial management, budgeting, and efficiency-driven transformation projects. As part of a dynamic and forward-thinking team, you will play a crucial role in maintaining fiscal discipline and contributing to the organization’s profitability and sustainability.

Roles & Responsibilities:

• Conduct detailed trend analysis of expenses by category, business unit, vendor, and nature of cost to identify inefficiencies and optimization opportunities.

• Collaborate with cross-functional stakeholders for accurate data collection, validation, and analysis of cost metrics.

• Prepare monthly and quarterly cost reports, highlighting key variances, patterns, and insights for senior management review.

• Partner with business and operations teams to review existing workflows and suggest measures to improve efficiency and reduce overheads.

• Support the implementation of cost optimization initiatives, monitoring their impact on financial performance and business operations.

• Develop and maintain cost databases, dashboards, and models to track performance metrics.

• Participate in budgeting and forecasting exercises, aligning them with cost control goals and corporate strategy.

• Assist in creating and documenting standardized procedures for cost analysis and expense tracking.

• Provide actionable recommendations for reducing the cost-to-income ratio without compromising quality or compliance.

• Continuously identify emerging cost trends and report potential risks or inefficiencies to leadership.

Requirements & Eligibility:

• Bachelor’s degree in Commerce, Business Administration, Computer Applications, Science, or Technology (B.Com, BBA, BCA, B.Sc., or B.Tech).

• Postgraduate qualification such as MBA or PGDM is preferred.

• 0 to 2 years of relevant experience in cost analysis, data analytics, financial management, or process optimization.

• Strong analytical mindset with proficiency in MS Excel, data visualization, and financial modeling.

• Ability to work effectively with large datasets, ensuring accuracy and attention to detail.

• Excellent communication and collaboration skills to interact with cross-functional teams and senior stakeholders.

• Understanding of financial performance indicators, budgeting, and cost allocation methodologies.

• Proactive, self-motivated, and capable of working in a fast-paced, dynamic business environment.

• Strong problem-solving approach with the ability to provide data-driven recommendations.

• Familiarity with automation tools or analytics platforms (e.g., Power BI, Tableau) will be an advantage.

Expected Salary:
The expected salary for the Analyst – Cost Management role at IDFC FIRST Bank in Mumbai ranges between ₹5.5 – ₹8.5 LPA, depending on educational background, technical skills, and relevant experience. Fresh graduates with strong analytical and financial aptitude can also expect structured learning opportunities, career progression pathways, and exposure to strategic cost transformation projects within the bank.

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