Associate, Cost Management FP&A

Job Posting Organization:
The European Bank for Reconstruction and Development (EBRD) is a pioneering international financial institution established in 199

• The mission of the EBRD is to foster the transition towards open market-oriented economies and to promote private and entrepreneurial initiative in countries from Central Europe to Central Asia and the Southern and Eastern Mediterranean. The EBRD operates in over 30 countries and has a workforce of approximately 2,000 employees. The organization is committed to promoting sustainable development and inclusive growth, ensuring that its operations contribute positively to the economies and communities it serves.

Job Overview:
The Associate, Cost Management FP&A plays a crucial role in managing cost-related activities for various departments within the Bank. This position is integral to the Budget team's mandate, which involves establishing and monitoring the Bank's overall administrative and capital expenditure budgets. The Associate will provide direct support to the Associate Director, Head of Cost Management, by advising budget holders on budget utilization and preparing resource proposals and analyses as required. The role includes conducting detailed expenditure analysis as part of the annual budget process, productivity analysis, and monitoring budget execution. Additionally, the Associate will contribute to the preparation of key Bank documents for senior management and the Board, ensuring compliance with relevant policies and procedures related to resource management, budget, and accounting guidelines.

Duties and Responsibilities:
The Associate will be responsible for actively monitoring the business plan and budget execution for assigned departments, providing first-line advice and guidance to budget holders, and developing resource analysis for senior management and the Board. Monthly monitoring and reporting of expenses against agreed budgets will be required, along with regular forecasts and tracking of agreements. The Associate will analyze cost performance, coordinate the annual budget proposal and forecast process, and support the Head of Cost Management in developing cost allocation methodologies. Additional responsibilities include reviewing staff costs budgets, tracking contingency budget utilization, and conducting productivity analysis across teams. The Associate will also manage small projects related to resource analysis and collaborate with businesses to develop models for new initiatives, as well as participate in training Budget Officers and undertake financial modeling for strategic decisions.

Required Qualifications:
Candidates must have proven experience in cost management issues and should be a qualified accountant, CFA qualified, or possess a relevant Master's degree along with strong practical experience in finance. A solid accounting knowledge and financial background are essential, along with excellent numeric and analytical skills. Stakeholder management and negotiation skills are critical, as is a commitment to continuous improvement and innovative solutions. Proficiency in IT systems, particularly accounting packages and Excel for modeling, is required. Strong relationship management skills, the ability to work under pressure, and excellent drafting and presentation skills are also necessary.

Educational Background:
The ideal candidate should possess a degree in finance, accounting, or a related field. Advanced qualifications such as a Master's degree in finance or accounting, or professional certifications like CPA or CFA, are highly desirable. A strong academic background that demonstrates a solid understanding of financial principles and practices is essential for this role.

Experience:
The position requires candidates to have a significant level of experience in cost management and financial analysis. A minimum of 3-5 years of relevant work experience in a finance-related role, preferably within a corporate or banking environment, is expected. Experience in budget management, financial reporting, and stakeholder engagement will be advantageous.

Languages:
Fluency in English is mandatory, with excellent written and oral communication skills. Knowledge of additional languages is considered a plus, particularly those relevant to the regions in which the EBRD operates, as it may enhance communication with diverse stakeholders.

Additional Notes:
This position is a full-time role with a short-term contract lasting 12 months. The EBRD promotes a hybrid workplace model that emphasizes flexibility and connectedness among teams. The organization values diversity and encourages applications from all qualified candidates, regardless of their background. The EBRD offers a comprehensive suite of competitive benefits and prioritizes employee wellbeing.