Head of Budgeting & Reporting
The Manager Budgeting and Reporting will have the responsibility for effectively organizing, monitoring and overseeing all budgeting and reporting related processes which include budget initiation, budget preparation, budget review & consolidation, budget finalization, budget monitoring, budget variance management and management reporting.
· Contribute towards the formulation of strategy, annual business plans, policies and procedures of department, to support divisional and organizational business strategy.
· Oversee implementation of procedures and controls in the department. Ensure that all Budgeting & Reporting activities are in compliance policies, procedures, regulatory requirements, and international financial and accounting reporting standards.
· Build and maintain strong and effective relationship with the all other related units to achieve the Department’s goals/objectives.
· Keep the Director Finance informed of significant issues related to budgeting, forecasting and reporting processes.
· Allocate work to employees, nominate for training, conduct performance reviews and manage leave and overtime to ensure efficiency.
· Provide in coordination with the Business Area Partners guidance to the Heads of Units and Budget Holders in the preparation of their respective annual budgets.
· Notify Business Units and Department Directors of their respective approved final budget.
· Review Requests for Budget Overrun/Transfer from Budget Holders.
· Continuously identify, follow and analyze trends in the market. Review statistical analysis and current trends to identify risks and opportunities to the business.
· Support in the development of demand and capacity planning models and other forecasting models.
· Review and adopt new forecast processes, tools and models that will enhance performance, where needed
Key skills required
· Sound knowledge of ERP with emphasis on Budgeting module
· Expertise in Budgeting & Reporting best industry practices
· Knowledge of accounting standards
· Team Management skills
Education and requirements
· Masters Degree in Business Administration or Finance from a recognized university.
· Internationally recognized professional accounting qualification is required like:
· - Association of Chartered Certified Accountants (ACCA)
· - Chartered Accountant (CA)
· - Certified Institute of Management Accountants (CIMA)
· United States (US)
· - Certified Public Accountant (CPA)
· - Certified Management Accountant (CMA)
· - Chartered Financial Analyst (CFA)
About 5-7 years of post-qualification related experience of which a minimum of 2-3 years should be in a similar position / responsibility.