Cost Optimization Manager

Thomson Reuters Corporation Ann Arbor , MI 48103

Posted 3 months ago

Job Description:

The Cost Optimization Manager will be part of a team that will undertake tasks associated with the financial management of vendors delivering service offerings to Thomson Reuters.

The function of the team is to:

  • Prepare budgets and provide accurate Forecasts

  • Actuals Vs Plan variance Analysis

  • Calculate Service Level Credits as per the contract

  • Deep dive Volume analysis for calculating Additional Resource units and Reduce Resource units cost impact

  • Prepare Financial Models to streamline overall reporting

  • Adhoc business case analysis - Calculating Return on Investments for new projects

  • Analyzing the Financial Impact of all Transformation Projects

  • Finance Dashboards for Senior Management

  • Facilitate benchmarking

  • Validate and process supplier invoices

  • Resolve Billing Queries

  • Ensure audit requirements are met for specific contracts

  • Understand and ensure compliance to regulations

  • Reporting

Key responsibilities include:

  • Preparation of Annual Budgets based on the contracts and provide accurate monthly/quarterly forecasts

  • Preparation of ramp down forecasts for service transition to new vendors

  • Analyze Actual Vs Budget variance and provide accurate commentary

  • Deep dive analysis of Measurable activities to calculate Additional Resource units and Reduce Resource units cost

  • Prepare Financial Models to calculate Service Level Credits, Volume Analysis and other reporting

  • Business case Analysis Comparison of business case with Actuals and highlight variances to the Management

  • Prepare and Analyze Financial impact of all the transformation projects regularly

  • Provide analysis and calculate Return on Investment for any new projects

  • Prepare monthly and Quarterly Financial dashboards for providing updates during Functional and strategic governance board meetings with Suppliers and Thomson Reuters Management

  • Ensure all charges are in line with relevant contract / Work Order

  • Verification of all invoices received from specific vendors. Many of these charges are variable and require a line by line review and liaison with other groups to verify

  • Identify areas of cost savings associated with invoices

  • Resolve queries associated with any relevant invoicing

  • All costs, forecasted and actuals, are tracked to enable accurate run rate reporting and assistance with subsequent years forecast

  • Control and Governance

  • Perform internal audits and facilitate external audits

  • Prepare monthly and quarterly Financial dashboard for Senior Management reporting

  • Analyze the data collected through any audit

  • Assist with both internal and external benchmarking exercises as appropriate

  • Detailed analysis of reference data provided by the relevant vendors

  • Track performance against both Internal and external Compliance requirements

  • Ensure adherence to Thomson Reuters processes and TR Sourcing / Supplier management operating model

  • Request purchase orders as appropriate

  • Documented process to be maintained

  • Identify opportunities for improvements to processes and data quality Reporting

  • Summarize service reporting provided by vendors

  • Deliver ad hoc reporting as required to support the function overall

Required Skills

  • Good knowledge of Thomson Reuters finance systems

  • Strong analytical and excel skills

Desired Skills

  • 8 10 years professional experience in the region

  • Flexibility to work with customers globally

  • Good communications skills

  • Ability to work and present to senior leadership

  • Experience managing vendors and other 3rd parties

  • Excellent customer service skills

  • Ability to handle multiple tasks

  • Good knowledge of Ms office Excel & PowerPoint

  • Must be self-motivated, dynamic and able to work with minimal supervision

At Thomson Reuters, we believe what we do matters. We are passionate about our work, inspired by the impact it has on our business and our customers. As a team, we believe in winning as one - collaborating to reach shared goals, and developing through challenging and meaningful experiences. With more than 25,000 employees in more than 100 countries, we work flexibly across boundaries and realize innovations that help shape industries around the world. Making this happen is a dynamic, evolving process, and we count on each employee to be a catalyst in driving our performance - and their own.

As a global business, we rely on diversity of culture and thought to deliver on our goals. To ensure we can do that, we seek talented, qualified employees in all our operations around the world regardless of race, color, sex/gender, including pregnancy, gender identity and expression, national origin, religion, sexual orientation, disability, age, marital status, citizen status, veteran status, or any other protected classification under applicable law. Thomson Reuters is proud to be an Equal Employment Opportunity/Affirmative Action Employer providing a drug-free workplace.

We also make reasonable accommodations for qualified individuals with disabilities and for sincerely held religious beliefs in accordance with applicable law.

Intrigued by a challenge as large and fascinating as the world itself? Come join us.

To learn more about what we offer, please visit thomsonreuters.com/careers.

More information about Thomson Reuters can be found on thomsonreuters.com.

Locations

Ann Arbor-Michigan-United States of America;Carrollton-Texas-United States of America;Culver City-California-United States of America;Eagan-Minnesota-United States of America

Req #: JREQ128233

Locations: Ann Arbor-Michigan-United States of America|Carrollton-Texas-United States of America|Culver City-California-United States of America|Eagan-Minnesota-United States of America

Job Function: Accounting & Finance


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Cost Optimization Manager

Thomson Reuters Corporation