At a Glance
- Tasks: Analyse costs and provide insights to support McLaren Racing's finance team.
- Company: Join the iconic McLaren Racing team, where innovation meets excitement.
- Benefits: Hybrid working, private healthcare, gym access, and generous pension contributions.
- Other info: Dynamic environment with opportunities for personal and professional growth.
- Why this job: Be part of a pioneering team that sets high-performance standards in racing.
- Qualifications: Degree in economics or business; analytical skills and Excel proficiency required.
The predicted salary is between 35000 - 45000 £ per year.
Find out more about this role by reading the information below, then apply to be considered. At McLaren Racing, we’re not just here to try to take the chequered flag. We’re here to excite our fans, inspire our people and deliver for our partners. And we’re also committed to evolving our sport, our industry, and our technology, too.
Purpose of the Role: We have a fantastic opportunity for an Analyst to join the McLaren Racing F1 Finance Partnering Team. The successful candidate will possess an innovative ‘can-do’ attitude, with a high level of attention to detail, enabling the preparation of high quality, data driven insight, analysis and commentary to support the Finance Team and the wider Operations Function.
Role Dimensions: This role will be working in a fast-paced multi-tasking environment, and you will be comfortable dealing with high volume of workload and will require flexibility in working hours. You will work closely with Director / Head of level colleagues and all those with cost of car budget ownership responsibilities.
Principal Accountabilities:
- Provide projects costing to Project Managers for different car areas.
- Provide comparison of project costs for parts made in-house vs in supply chain.
- Support manufacturing departments in order to understand best their cost base and their efficiency.
- Drive better budget allocation within different car/manufacturing areas.
- Support cost review of proprietary parts, raw materials and consumables.
- Deliver frequent insight to promote cost collaboration from design to manufacture.
- Create and prepare weekly, monthly, and annual summaries related to Cost of Car.
- Compile, analyse, and evaluate data to inform financial projections and support Cost Cap compliance.
- Develop strong partnerships between Operations, finance and other business functions.
- Recommend and support implementation of process changes and system enhancements based on findings.
- Communicate findings effectively and follow through with actions to help drive improvements.
Job requirements Knowledge, Skills and Experience:
- Bachelor's or Master’s in economics, business, econometrics or equivalent experience.
- Part-qualified/appetite to commence qualification (ACCA/ACA) desirable.
- Experience in Manufacturing industry is beneficial.
- Excellent Excel & IT skills, Power BI desirable.
- Appreciation of advanced statistical techniques.
- Good analytical skills and attention to detail.
- Ability to prioritise and organise in order to work effectively to deadlines.
- Excellent interpersonal and communication skills.
- Eager to learn and enthusiastic.
Personal Attributes:
- Ability to work well under pressure and demonstrate emotional resilience and intelligence in the face of competing demands.
- Creative problem solver able to use technical skills and relationships to implement solutions.
- The drive, determination and commitment to get things done and get results.
- Displays a professional curiosity to seek opportunities for continual improvement.
- Recognising key relationships and making conscious effort to build rapport irrespective of status.
- Energetic and willing to drive challenge into the team.
What can McLaren offer? We constantly strive to be better tomorrow than we are today. Our ambition is to be the most pioneering and exhilarating racing team in the world, and our collective task is to set the standards for high performance in sport. We show up every day with energy and enthusiasm, ready to play our part. We encourage and support diversity, equity and inclusion. We will actively promote a culture that values difference and eliminates discrimination in our workplace. McLaren Racing is based at the iconic McLaren Technology Centre (MTC) near Woking. Here at McLaren, we offer hybrid working with 3 days a week based in the MTC. Our state of the art, sustainable campus offers many facilities including a gym, restaurant and indoor and outdoor break-out areas, as well as direct access to park and common land. The MTC is connected to Woking mainline station via regular shuttle buses, from which London Waterloo is a 30 minute train ride.
We offer a comprehensive package of benefits including private healthcare, car schemes, life insurance and generous pension contributions.
Cost Analyst employer: McLaren Racing
At McLaren Racing, we pride ourselves on being an exceptional employer, offering a dynamic work environment at our iconic McLaren Technology Centre near Woking. Our commitment to innovation and excellence is matched by our dedication to employee growth, providing opportunities for professional development alongside a comprehensive benefits package that includes private healthcare and generous pension contributions. With a culture that values diversity, equity, and inclusion, we empower our team members to thrive and contribute to our mission of setting the standards for high performance in motorsport.
StudySmarter Expert Advice🤫
We think this is how you could land Cost Analyst
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like McLaren Racing. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Cost Analyst
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to McLaren Racing.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on McLaren Racing's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at McLaren Racing
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with McLaren Racing.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at McLaren Racing will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former McLaren Racing employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
