IT Consultant – IT Cost Optimization

About the job Contract Duration: 3-4 months Start Date: Immediately Work Mode: On-site, full-time — Riyadh, Saudi Arabia Role Overview: As an IT Consultant, you will join a dedicated team delivering a large-scale cost optimization engagement, with a specific focus on IT spend across both CapEx and OpEx. You will work alongside a team of high-performing professionals driving cost-saving initiatives, bringing deep technical and commercial understanding of banking IT environments to identify, quantify, and help implement savings opportunities. This role sits at the intersection of technology and finance — you will need to speak the language of IT vendors and infrastructure as fluently as the language of cost structures and business cases, translating technical complexity into clear, actionable recommendations for senior stakeholders Key Responsibilities: - Analyze IT contracts (software licensing, hardware, telecom, cloud, outsourcing/managed services, maintenance and support agreements) to identify cost-saving and renegotiation opportunities. - Review the client’s existing IT architecture and application landscape to understand what is deployed, how heavily it is used, and which banking products run on which platforms. - Break down IT cost structures into relevant cost drivers and variables, distinguishing fixed vs. variable costs, and identifying root causes of cost inefficiencies. - Collect and analyze usage and consumption data (licenses, infrastructure capacity, cloud consumption, support tickets, etc.) to detect overuse, underuse, and optimization potential. - Engage directly with IT vendors and internal IT stakeholders to gather information, validate assumptions, and support negotiation strategies. - Build clear, structured, and data-driven business cases and savings trackers to quantify identified opportunities. - Support the implementation and PMO follow-up of validated initiatives, tracking savings realization against target and flagging risks or delays. Qualifications & Experience: Previous experience at a top-tier consulting firm - Previous experience with a top-tier consulting firm or within the Banking & Financial Services sector. - Have proven experience assessing IT contracts and identifying cost-saving opportunities (renegotiation, rightsizing, consolidation, etc. - Bring a minimum of 4-6 years of professional experience in IT cost management, IT procurement, IT infrastructure, consulting, or a related field within financial services or banking. - Are able to interact confidently with senior stakeholders and C-level executives and can summarize complex findings clearly and communicate them effectively - Hold a Bachelor's or Master's degree in Information Technology, Engineering, Business, Finance, or a related discipline. - Are fluent in English (Arabic is a strong plus). - Are proficient in MS PowerPoint and Excel at an advanced level. If you are interested in this opportunity, please click “Apply” to submit your application.