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- Tasks: Lead cost management and efficiency strategies in Corporate and Institutional Banking.
- Company: Join a leading UK financial services organisation committed to diversity and inclusion.
- Benefits: Generous pension, performance bonuses, share schemes, and 30 days holiday.
- Other info: Flexible working options and support for colleagues with disabilities.
- Why this job: Make a significant impact on financial stewardship and strategic decision-making.
- Qualifications: 5+ years in cost management and financial expertise required.
The predicted salary is between 80000 - 100000 ÂŁ per year.
LOCATIONS: Edinburgh / Bristol / London
HOURS: Full-Time
WORKING PATTERN: Our work style is hybrid, which involves spending at least two days per week, or 40% of our time, at one of our office sites. Colleagues with disabilities can be supported with workplace adjustments including hybrid working expectations in line with our Flexibility Works policy.
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.
The role will have a focus on:
- 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. 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
Director, Cost Management & Efficiency - CIB in London 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 in London
✨Tip Number 1
Network like a pro! Reach out to your connections in the finance and cost management sectors. Attend industry events or webinars, and don’t be shy about introducing yourself. You never know who might have the inside scoop on job openings!
✨Tip Number 2
Prepare for those interviews by researching the company’s recent projects and financial strategies. Tailor your insights to show how your experience aligns with their goals. We want to see you shine as a candidate who understands their vision!
✨Tip Number 3
Practice your pitch! Be ready to discuss your past achievements in cost management and efficiency. Use specific examples that highlight your analytical skills and ability to influence decisions. Confidence is key, so let us help you nail that delivery!
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who take the initiative to engage directly with us. Let’s get you on board!
We think you need these skills to ace Director, Cost Management & Efficiency - CIB in London
Some tips for your application 🫡
Tailor Your Application: Make sure to customise your CV and cover letter for the Director, Cost Management & Efficiency role. Highlight your relevant experience in cost management and financial stewardship, and don’t forget to mention any specific achievements that align with our goals at StudySmarter.
Showcase Your Analytical Skills: We want to see your strong commercial and analytical judgement in action! Use examples from your past roles where you’ve successfully applied these skills to make complex decisions. This will help us understand how you can contribute to our team.
Demonstrate Leadership Experience: As a senior role, we’re looking for someone who can influence and build relationships with senior leaders. Share instances where you’ve led teams or projects, especially in cross-functional settings, to show us you can thrive in our collaborative environment.
Apply Through Our Website: Don’t forget to submit your application through our website! It’s the best way for us to receive your details and ensure you’re considered for this exciting opportunity. 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 cost actions with strategic priorities in the past. Think about specific scenarios where your insights led to improved efficiency outcomes.
✨Build Relationships Before You Walk In
Since this position involves significant collaboration with senior leaders, it’s crucial to show your ability to build credibility. Research the company’s leadership team and their backgrounds. If possible, connect with them on LinkedIn before the interview to establish rapport.
✨Prepare for Complex Scenarios
Expect questions that test your ability to make decisions in ambiguous situations. Think of examples where you’ve navigated complex environments and made impactful decisions despite incomplete information. Highlight your analytical judgement and how it has benefited your previous employers.