City National Bank
Cost Accounting Analyst
City National Bank, Los Angeles, California, United States, 90079
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 be 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.Use judgment 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 the 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.Conduct monthly cost allocation processes and address questions related to monthly outputs.Conduct 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 ongoing relationships with specific bank units to support the end-to-end cost accounting process from time study interviews to monitoring for operational changes and addressing ad hoc 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 practices, 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.2+ years of financial analysis experience, preferably in a data-intensive financial company.3+ years cost accounting experience, preferably using activity-based costing.2+ years working with large databases using Excel, Access and/or PL/SQL.
Skills and KnowledgeGeneral knowledge of accounting/finance principles and theory.Prior experience in cost accounting a plus, preferably using activity-based costing.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: $78,970 - $126,140 per year. 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 qualificationsThe 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
City National Bank, a subsidiary of Royal Bank of Canada, is the largest bank headquartered in Los Angeles with $92.03 billion in assets as of April 30, 2024. Founded in 1954, City National provides personalized banking, investment, and trust services in select markets including Los Angeles, Orange County, San Diego, the San Francisco Bay Area, New York City, Nashville, Atlanta, Delaware, Las Vegas, Washington D.C., and Miami. In addition, the company and its investment affiliates manage or administer $96.83 billion in client investment assets. City National is dedicated to strengthening communities, and in 2023 alone, the company made more than $11 million in charitable contributions to nonprofits that support the communities it serves.
For more information about City National, visit cnb.com.#J-18808-Ljbffr
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 be 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.Use judgment 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 the 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.Conduct monthly cost allocation processes and address questions related to monthly outputs.Conduct 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 ongoing relationships with specific bank units to support the end-to-end cost accounting process from time study interviews to monitoring for operational changes and addressing ad hoc 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 practices, 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.2+ years of financial analysis experience, preferably in a data-intensive financial company.3+ years cost accounting experience, preferably using activity-based costing.2+ years working with large databases using Excel, Access and/or PL/SQL.
Skills and KnowledgeGeneral knowledge of accounting/finance principles and theory.Prior experience in cost accounting a plus, preferably using activity-based costing.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: $78,970 - $126,140 per year. 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 qualificationsThe 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
City National Bank, a subsidiary of Royal Bank of Canada, is the largest bank headquartered in Los Angeles with $92.03 billion in assets as of April 30, 2024. Founded in 1954, City National provides personalized banking, investment, and trust services in select markets including Los Angeles, Orange County, San Diego, the San Francisco Bay Area, New York City, Nashville, Atlanta, Delaware, Las Vegas, Washington D.C., and Miami. In addition, the company and its investment affiliates manage or administer $96.83 billion in client investment assets. City National is dedicated to strengthening communities, and in 2023 alone, the company made more than $11 million in charitable contributions to nonprofits that support the communities it serves.
For more information about City National, visit cnb.com.#J-18808-Ljbffr