Assistant Manager - Budget Control & Procurement

Job Purpose

This position is to ensure the availability and proper allocation of budgets for procurement, distinguishing between Opex and Capex in accordance with accounting policies, and meticulously tracking budgets from approval to transaction booking. The role involves preparing detailed reports on Capex utilization, monitoring and recording budget reallocations for both Opex and Capex and ensuring comprehensive budget availability for these transfers. A key responsibility includes maintaining records for audit and monitoring purposes, as well as liaising with all divisions on budget-related issues.

Key Responsibilities

• Ensure budget availability for procurement. This involves verifying the budget requested for the purchase before initiating procurement processes. The assistant manager will need to confirm that the funds are earmarked and available, reducing the risk of financial oversights or shortfalls during procurement.
• Classify expenses as Opex or Capex according to accounting policy. The role requires a thorough understanding of the company's financial policies to correctly categorize expenses as Operating Expenditures (Opex) or Capital Expenditures (Capex). This classification impacts financial statements and tax implications, making accuracy in this area crucial.
• Track budget from approval to transaction booking. This function involves overseeing the budget's journey, starting from management's approval(MAP), through the stages of purchase requisition, issuance of purchase orders, and ultimately to the recording of the transaction as either Opex or Capex.
• Prepare reports on utilized and unutilized Capex budget. The assistant manager is responsible for compiling detailed reports that reflect how much of the Capex budget has been spent and what remains unused. These reports are vital for strategic planning and effective resource allocation.
• Monitor and record Opex and Capex budget reallocations. This task involves overseeing any shifts in budget allocations between Opex and Capex, ensuring that such reallocations are justifiable, recorded accurately, and that there are sufficient funds available for the new allocation. This process is essential for maintaining financial integrity and compliance.
• Record reallocations for monitoring and audit purposes. Keeping detailed records of all budget reallocations serves dual purposes: for internal monitoring of budget/financial movements and for external audit requirements. This documentation helps in maintaining transparency and facilitates audits.
• Liaise with all divisions on budget matters. Acting as a key point of contact, the assistant manager will communicate and coordinate with different divisions regarding budget-related issues. This role requires strong interpersonal skills and the ability to provide clarity and guidance on budget/financial matters to various stakeholders within the organization.
• Ensures accrual and prepayment are accounted accurately in Oracle System according to supporting schedules.
• Ensures no major complaints from internal customers.
• Ensures delivery of the report/analysis as requested by internal or external customers timely and accurately, i.e. budget tracker and quarterly capital commitment.
• Point of contact with ARB KSA (HQ) for the management of ARB Malaysia's capex via Clarity System (Capex System)
• The particular duties and responsibilities attached to posts may vary from time to time without changing the general character of the duties or the level of responsibility entailed.
• In addition to the responsibilities listed above, the job holder may be required to perform other duties as assigned by his immediate leader or any senior manager from time to time.
• This job description is to be read in conjunction with the relevant Roles and Responsibilities.