COO Finance is the department responsible for the central processing and reporting of all accounting events globally for ING Bank. These activities are executed in both Amsterdam, and other Hub centers like Manila. The latter location is in a growing phase, and the number of activities is expected to grow further in Manila in both depth and broadness.

We are looking for a highly analytical and detail-oriented Cost Allocation & Analysis Expert to support our monthly closing activities, planning, and reporting. This role is responsible for ensuring the accurate execution of cost allocation models across products, services, regions, and business units. The ideal candidate also has strong analytical skills, solid understanding of allocation methodology and the ability to work with cross‑functional teams to ensure timely and accurate customer invoicing.

Key Responsibilities

Cost Allocation

• Execute monthly, quarterly, and annual cost allocation cycles following approved methodologies (e.g., driver-based, activity-based).

• Maintain and update allocation drivers, master data, cost centers, and allocation rules.

• Ensure accuracy and completeness of allocations in financial systems.

• Perform root‑cause validation of unusual allocation results and correct issues proactively.

Cost Analysis & Reporting

• Analyze cost trends, variances, and allocation impacts across departments and services.

• Prepare reports and dashboards that illustrate cost structure and financial performance.

• Support budgeting and forecasting with cost allocation inputs and scenario modeling.

• Provide insights that help identify cost-saving and efficiency opportunities.

Data Management & Process Improvement

• Ensure data integrity and alignment between financial systems (ERP, cost models).

• Support enhancements in allocation methodologies, automation, and modeling tools.

• Partner with Support, (e.g. OPEX) and other Finance teams to improve end-to-end cost allocation processes.

Stakeholder Collaboration

• Work with business units to validate drivers, cost pools, and cost-to-serve outputs.

• Communicate insights in a clear and structured way to finance partners and leadership.

• Provide guidance to teams to improve understanding of cost transparency and allocation logic.

Compliance & Process Improvement

• Ensure compliance with financial policies, internal controls, and audit requirements.

• Identify and recommend process enhancements to improve efficiency and billing accuracy.

What we’re looking for

Skills

• Strong attention to detail and high level of accuracy.

• Experience with cost allocation methodologies.

• Proficiency in Excel and financial systems.

• Familiarity with Power BI, Advanced Excel, or other BI tools.

• Knowledge of IFRS/GAAP cost principles.

• Ability to adapt to different cultures and business environments, demonstrating flexibility and resilience.

• Strong analytical and problem-solving skills; results-driven and comfortable working under tight deadlines.

• Good communication skills for interacting with internal and external stakeholders.

• Ability to manage multiple deadlines and work with minimal supervision.

• Skilled in communicating on complex topics and solutions and must be open to ideas from others.

• Comfortable working in an international context.

Qualifications

• Bachelor’s degree in Accounting, Finance, or related field.

• Experience in Banking is a plus.

• Professional certifications (CPA, CMA, CFA) are an advantage.

• Minimum of 5 years’ experience in Cost Management & Allocation

• Experience working with ERP systems or financial tools is an advantage.

Work Environment

• Office/Hybrid setup (adjust as required).

• Reports to: Finance Lead in Manila.

• Mid shift, following Amsterdam (CET) time.

• Supports regional or global invoicing processes.

• Amenable to work in Makati City, Metro Manila Philippines.

Why Join Us

• Become part of a global, diverse, and purpose‑driven organization that empowers both customers and employees to stay a step ahead in life and in business.

• ING offers continuous learning opportunities, development programs, and the freedom to carve out a career path aligned with your passions.

• ING promotes flexibility, trust, and autonomy. Employees are encouraged to work in ways that best support their productivity, well‑being, and growth

• An opportunity to join a high‑performing finance team while gaining exposure to complex cost structures and collaborating across multiple business functions.