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- Tasks: Lead cost management and efficiency strategies in Corporate and Institutional Banking.
- Company: Join a leading financial institution committed to diversity and inclusion.
- Benefits: Generous pension, performance bonuses, share schemes, and 30 days holiday.
- Other info: Hybrid working options and support for colleagues with disabilities.
- Why this job: Shape the future of finance while making a real impact on cost efficiency.
- Qualifications: 5+ years in cost management and financial stewardship within large organisations.
The predicted salary is between 80000 - 100000 ÂŁ per year.
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Agile Working Options: Job Share; Hybrid Working
About This Opportunity
We’re seeking a Director, Cost Management & Efficiency to play a key role in shaping how Corporate and Institutional Banking (CIB) delivers disciplined financial stewardship. This is a senior, high impact role with significant visibility across CIB, responsible for strengthening cost rigour, improving workforce and investment decisions and ensuring alignment to CIB’s North Star strategy. Working closely with CIB Finance and senior collaborators, you’ll provide executive level insight and leadership to support informed decision making and sustained efficiency outcomes.
About The Role
As the Director, you’ll oversee direct and indirect cost performance, workforce planning and investment evaluations within the Strategic Cost & Investment team. You’ll ensure disciplined financial management through robust FTE modelling, cost/benefit planning and business unit cost assessment. You’ll act as a key partner to CIB Finance and senior collaborators, aligning cost actions and investment decisions with strategic priorities. The role also provides clear governance, executive‑ready insights and leadership communication to enable timely decisions and the sustained delivery of savings and productivity improvements.
Responsibilities:
- Managing and maintaining a consolidated view of CIB direct and indirect costs, ensuring clear tracking against plan, forecast and outlook.
- Establishing and maintaining cost control routines: run‑rate monitoring, variance analysis, drivers, and corrective action planning.
- Partnering with Finance to ensure consistent treatment of costs, allocations/chargebacks, and standardised reporting definitions and methodologies.
- Leading identification of structural cost opportunities (vendor, discretionary, real estate, technology run, third‑party services), including scenario analysis and prioritisation.
- Leading workforce planning across CIB in partnership with HR and Finance, ensuring headcount/FTE plans align to strategy and capacity needs.
- Building and maintaining FTE models (run rate, hiring/attrition, redeployment, location mix, contractor vs. perm, spans/layers impacts where relevant).
- Transforming strategic plans into workforce demand and supply views, identifying risks, constraints and options (e.g., rebalancing, productivity levers, role rationalisation).
- Providing forward‑looking insight on workforce cost drivers (compensation, benefits, contractors, overtime, vacancies) and implications for budgets and targets.
What We Need From You:
- Senior cost and financial management expertise (5+ years) - Experience in cost management, financial stewardship, or investment governance within a large, complex organisation (financial services preferred), with a strong track record of applying financial discipline to improve cost, workforce and investment outcomes.
- Strong commercial and analytical judgement (5+ years) - Demonstrated experience applying commercial and financial judgement to complex cost and investment decisions, translating data, analysis and assumptions into clear options and recommendations for senior audiences.
- Senior partnering and influence - Proven ability to build credibility and effective working relationships with senior leaders across Finance, HR and the business, providing challenge, aligning priorities and influencing decisions without direct authority.
- Cost governance and control - Strong experience in cost governance, planning, tracking and reporting, with the ability to handle risks, dependencies and corrective actions through appropriate governance and executive forums.
- Workforce planning and FTE modelling capability - Experience leading workforce planning and FTE modelling activities, including run‑rate analysis, demand and supply modelling, scenario planning and evaluation of productivity and capacity options.
- Complex change and decision‑making in ambiguity - Experience operating in complex, evolving environments, making and standing behind decisions with incomplete information while sustaining progress across cross‑functional initiatives.
This Is A Place For You
Our ambition is to be the leading UK business for diversity, equity and inclusion supporting our customers, colleagues and communities, and we’re committed to creating an environment in which everyone can thrive, learn and develop. We were one of the first major organisations to set goals on diversity in senior roles, create a menopause health package, and a dedicated Working with Cancer Initiative. We offer reasonable workplace adjustments for colleagues with disabilities, including flexibility in office attendance, location and working patterns. And, as a Disability Confident Leader, we guarantee interviews for a fair and proportionate number of applicants who meet the minimum criteria for the role with a disability, long‑term health or neurodivergent condition through the Disability Confident Scheme. We provide reasonable adjustments throughout the recruitment process to reduce or remove barriers. Just let us know what you need.
Benefits:
- A generous pension contribution of up to 15%
- An annual performance‑related bonus
- Share schemes including free shares
- Benefits you can adapt to your lifestyle, such as discounted shopping
- 30 days’ holiday, with bank holidays on top
- A range of wellbeing initiatives and generous parental leave policies
Ready to make an impact? Apply today!
Director, Cost Management & Efficiency - CIB employer: Lloyds Banking Group
Contact Detail:
Lloyds Banking Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Director, Cost Management & Efficiency - CIB
✨Tip Number 1
Network like a pro! Reach out to current employees on LinkedIn or at industry events. Ask them about their experiences and any tips they might have for landing a role in CIB. Personal connections can give you the inside scoop!
✨Tip Number 2
Prepare for interviews by practising common questions related to cost management and financial stewardship. Use the STAR method (Situation, Task, Action, Result) to structure your answers. This will help you showcase your experience effectively!
✨Tip Number 3
Showcase your analytical skills! Be ready to discuss how you've used data to drive decisions in past roles. Bring examples of your work with FTE modelling or cost governance to the table – it’ll impress the interviewers!
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen. Plus, you’ll find all the latest opportunities there, so keep checking back for new roles that fit your skills!
We think you need these skills to ace Director, Cost Management & Efficiency - CIB
Some tips for your application 🫡
Tailor Your Application: Make sure to customise your CV and cover letter to highlight your experience in cost management and financial stewardship. We want to see how your skills align with the role, so don’t hold back on showcasing your achievements!
Showcase Your Analytical Skills: Since this role requires strong commercial and analytical judgement, include specific examples of how you've used data to make informed decisions. We love seeing numbers and results that demonstrate your impact!
Highlight Your Leadership Experience: This position is all about influencing and building relationships with senior leaders. Share stories that illustrate your ability to lead teams and drive change, especially in complex environments. We’re looking for those standout moments!
Apply Through Our Website: We encourage you to apply directly through our website for a smoother process. It’s the best way to ensure your application gets the attention it deserves. Plus, we can’t wait to see what you bring to the table!
How to prepare for a job interview at Lloyds Banking Group
✨Know Your Numbers
As a Director in Cost Management, you’ll need to demonstrate your financial acumen. Brush up on key metrics related to cost performance and workforce planning. Be ready to discuss how you've used data to drive decisions in previous roles.
✨Showcase Your Strategic Thinking
This role requires a strong alignment with CIB’s North Star strategy. Prepare examples of how you've successfully aligned financial management with broader business strategies. Think about times when your insights led to significant efficiency improvements.
✨Build Relationships
You’ll be partnering with senior leaders across Finance and HR, so highlight your experience in building credibility and influencing decisions. Share specific instances where you’ve navigated complex relationships to achieve cost governance and control.
✨Prepare for Scenario Analysis
Expect questions around identifying structural cost opportunities and scenario planning. Be ready to discuss how you’ve approached cost-benefit analyses in the past, and think through potential scenarios you might face in this role.