Job Details

• Job Purpose
  
  To supervise, plan, develop and coordinate all budgeting activities including budget preparation, monitoring and reporting; providing technical accounting and budgeting expertise to all departments. To lead the development of the master budget for Company and to support the executive management in obtaining the necessary approvals and allocations. 
  
  Key Responsibilities
  
  Managerial Responsibilities 
  
  • Develop the operational plans for the Budgeting, Planning & Reporting Section in line with the stated department priorities to be able to contribute to the achievement of organisation’s goals.
  • Prepare and manage the annual budget for the Budgeting, Planning & Reporting Section in conjunction with the department budget; secure subsequent approval and track expenditure to ensure adherence to the budget.
  • Support the development of the workforce plan for the Finance Department by providing inputs for own section, to ensure availability of required resources to deliver department’s goals.
  • Provide necessary operational information for the development of the operating framework and policies for the Finance Department to ensure that implementation issues are highlighted and addressed.
  • Set up a dynamic reporting platform to ensure Company Management receives accurate and timely reports to ensure proper planning throughout the year and support any strategic shifts. 
    
    
  Core Responsibilities
  
  Evaluation and Forecasting: 
  
  • Analyse and report on external economic trends.
  • Lead special projects such as economic evaluations and financial effectiveness of internal operations, and product/profit performance. 
    
    
  Budget Planning
  
  • Manage all activities related to Company budget preparation such as defining policies and procedures, providing advice and technical analysis to budget makers, issuing clarifications, cost analysis, compilation, and forwarding final budget proposals to senior management for approval.
  • Examine budget estimates from each department for completeness and accuracy to ensure adherence with procedures and regulations.
  • Prepare overall budgets and mid-year forecasts based on past performance and the strategic direction of Company.
  • Lead the consolidation and review of the budgets and business plans into a master document for endorsement and final approval by the Management.
  • Manage the disbursement of budget in accordance with planned budget requirements and approvals.
  • Coordinate with Financial Controller to develop and update the policies and procedures for Budgeting & Planning Section to maintain alignment and compliance to the financial standards and statutory requirements.
    
  • Respond to the queries raised during internal and external audits, and ensures implementation of any corrective action points raised by auditors to ensure adherence to audit requirements. 
    
    
  Monitoring And Adjustments
  
  • Supervise the monitoring of budgets on a routine basis and the incorporation of all such modification in the final budget as required, for prudent financial control.
  • Oversee the preparation of periodic management reports on budget utilisation and variances, and review the investigation of related variances for control and corrective actions purposes.
  • Monitor the analysis of all expenditure proposals to ensure that sufficient provision exists or requisite alternatives are explored.
  • Highlight the potential risks in the Section and develop strategies or techniques to avoid, mitigate or prevent such risks. 
    
    
  Financial Reporting
  
  • Oversee timely and accurate preparation and communication of management reports, Audit Committee & Board reports, and monthly dashboards in order to facilitate awareness of spend vs. budget, thereby supporting decision making on an ongoing basis.
  • Direct the various financial and organisational studies in order to analyse and suggest optimal utilisation of resources.
  • Lead the preparation of financial forecasts, document issues / findings in financial analysis reports and propose recommendations. 
    
    
  Cash Flow Management
  
  • Oversee all aspects of cash flow management in order to accurately forecast daily cash requirements and to execute daily financing decisions.
  • Guide and monitor various cash flow forecasts and review the financial models to ensure prudent planning and management of cash.
  • Participate in conducting financial due diligence and feasibility analysis on any partnerships and sponsorships to ensure proper corporate financial planning. 
    
    
  People Management / Self-Management Responsibilities
  
  • Define goals and key performance indicators (KPIs) for each member of the team and ensure effective implementation of Company performance management process to promote a performance driven culture.
  • Lead performance evaluations of direct reports, and recommend linkages of performance with Company reward and development programs in line with established policies and procedures to ensure differentiation between high performers and average performers.
  • Develop talent within the team by providing guidance and coaching to achieve the defined goals. 
    
    
  Qualifications
  
  JOB SPECIFICATIONS 
  
  Qualifications
  
  • Bachelor’s Degree in Accounting, Finance or related field
  • Master’s Degree in Accounting / Finance / Business Administration or equivalent preferred
  • Professional Qualification (CMA, CFA, CPA) Preferred 
    
    
  Preferred Experience
  
  • 10-15 years of relevant experience
  • Prior experience in budget and control
  
  
  Skills And Abilities
  
  • Attention to details
  • Strong communication/ interpersonal skills
  • Strong analytical skills
  • Strong report writing skills
  • Strong level of ability to work under pressure
  • Strong multi-tasking ability
  • Excellent understanding of accounting standards
  • Ability to interpret instructions and accounting issues