Financial Planning & Budgeting Director

JOB PURPOSE

Direct the development of financial and budget plans for all company functions in order to efficiently track budget expenditure, handle change requests and provide necessary recommendations within set guidelines and timetables.

ROLES AND RESPONSIBILITIES

Planning and Strategy

• Design and implement Financial Planning and Budgeting directorate’s strategy and roadmap in alignment with Finance and Investment business unit’s strategy
• Establish Financial Planning and Budgeting directorate’s plans and provide input to Finance and Investment business unit’s goals that support its overall strategic plans
• Collaborate with other Directors to identify Financial Planning and Budgeting directorate’s required initiatives to meet future business demands
• Manage and drive the achievement of Financial Planning and Budgeting directorate’s strategy, objectives and KPIs within the accountabilities of the directorate
• Prepare and present regular reports on the directorate’s progress and outputs to be shared with relevant stakeholders in line with reporting requirements

Guidelines and Timetable

• Manage the development of the financial planning timetable and ensure communication to relevant stakeholders
• Manage the development of budget policies, procedures and timetable based on overarching strategy
• Oversee the development of financial forecasting and budgeting forms, models and tools and provide final approval in order to initiate utilization trainings for relevant stakeholders in Company functions

Budget Management

• Manage Financial Planning and Budgeting directorate’s budgeting cycle and provide input to the budgeting process
• Manage Financial Planning and Budgeting directorate effectively within budget, and report accurately on progress made and challenges encountered
• Formulate initiatives that result in positive financial impact for Financial Planning and Budgeting directorate and mitigate financial and operational risks

Financial Planning and Budget Development

• Oversee the development of financial plans and forecasts for Company products and services ensuring all demand drivers are taken into consideration
• Manage negotiation and validation activities for financial forecasts and budget setting with relevant stakeholders to reach consensus and estimate expenditure requirements
• Identify CAPEX and OPEX inputs in order to determine budget caps based on financial forecasts
• Review developed budget proposal based on developed plan, provide recommendations and needed amendments, and secure approval
• Guarantee and ensure budget implementation according to set guidelines and provide guidance when necessary

Budget Tracking and Reporting

• Ensure purchases requests are within set budget and guidelines for budget expenditure
• Conduct periodical budget tracking and review budget usage reports in order to monitor institutional spending and ensure effective use of budget resources
• Manage variance analyses highlighting discrepancies between forecasted and actual expenses and propose appropriate corrective actions
• Oversee departmental assessments and business case analyses in order to manage budget modifications
• Manage budget change requests and provide recommendations ensuring alignment with applicable rules and regulations
• Manage the development of annual coding plan defining relationships between all account structures and make necessary adjustments when needed

Process Management

• Develop and oversee the implementation of Financial Planning and Budgeting directorate’s policies, procedures and controls covering all areas of activity, ensuring all relevant procedural/legislative requirements are fulfilled while delivering high quality and cost-effective results
• Lead and direct change management through continuous improvement of Financial Planning and Budgeting directorate’s systems, processes and practices, proactively taking into account leading practices, changes in international standards and changes in the business environment
• Monitor day-to-day activities to ensure compliance with stipulated policies and procedures, including risk management rules and regulations
• Oversee the development and implementation of Service Level Agreements (SLAs) with other functions

People Management

• Help instill a culture of development, guidance and performance within Financial Planning and Budgeting directorate
• Guide, mentor and develop the Financial Planning and Budgeting directorate team to take larger and more complex responsibilities
• Identify and recruit key talent for the Financial Planning and Budgeting directorate
• Provide clear top-down communication to employees and bottom-up feedback to top management
• Set performance objectives, provide necessary support, evaluate / appraise direct reports, and provide regular feedback on performance
• Establish a high-performance working environment within the Financial Planning and Budgeting directorate

JOB QUALIFICATIONS AND REQUIREMENTS

Knowledge & Experience

8 to 10 years of relevant experience, with at least 4 years of experience in a managerial position

Education & Certifications

Bachelor’s degree in Finance or equivalent is required

Master’s degree in Finance or equivalent is preferred