BoB to have cost control framework
Bank of Baroda is to appoint a consultant to advise it on implementation of a ‘Unit Costing, Product Profitability and Expense Control Framework’. The bank wants to implement the project in two phases: design of the Unit Costing, Product Profitability and Expense Control Frameworks and a well-defined dashboard for reporting the same to the top management and implementation and institutionalization of the frameworks. The consultant would be required to ensure that the unit costing exercise is comprehensive and covers all costs across the bank. The consultant will have to identify all the costs and activities at the most granular level practically possible, and ensure that the designed framework is best in class.