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Job title
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Senior Specialist Budgeting
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Grade
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Stream
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CFO
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Function
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Budgeting & Reporting
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Location
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Oman – Muscat
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Budget control
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*OPEX and/or CAPEX and/or Revenue amount as relevant*
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Reporting to
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Head of Budgeting & Reporting
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Direct Reports
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Job purpose
Provide strong support and execute a range of Budgeting services, at OQ8 under Head of Budgeting & Reporting scope’s as determined by business need, acting as lead of budgeting policies and standards, through (1) the provision of tailored, business budgeting services (2) contribute to continual improvement initiatives, projects and process reviews at OQ8 in order the enhance the offerings and delivery of service to key stakeholders and end users, (3) Execute the changes to the budget if it needs to improve over time; in order to verify how the funds are being spent, ensuring that the company's plans that require funding are possible within the budget limits and that the monthly report for the company is created with truthful and reliable figures.
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Main tasks and responsibilities
- Execute Budgeting, forecasting tasks and improve the accuracy of financial information and processes
- Support Head of Budgeting & Reporting in budgeting, monitoring, and reporting systems. This includes the support on the production of timely, meaningful and accurate monthly reports
- Undertake a range of financial management responsibilities aligned to the business needs of the client group, including budgeting, planning, modelling & forecasting.
- Undertake tasks to support business decision-making, including analysis to inform financial capability, operating performance and business growth improvements, and identify and responding strategically to issues, trends and opportunities
- Build and sustain effective relationships with an extensive and stakeholders
- Actively contribute to and support the Budgeting & Reporting network
- Contribute to the planning, management and effective implementation of continuous improvement activities relating to financial management practices and procedures
- Identify and contribute to planning and managing issues and risks associated with implementing financial management initiatives and changes to policies, procedures and legislation
- Ensure compliance with statutory and regulatory obligations, business protocols and standards
- Provide additional support where requested to a range of operational tasks, projects and activities in order to contribute to the focus of continuous improvement, operational excellence and workplace safety
- Support in establishing automated process for ongoing reporting including reporting formats
- Improve the accuracy of financial information and processes
- Review periodic financial statements including profit and loss accounts, budgets, cash flows, variance analysis and commentaries;
- Inform department managers of due dates for the submission of budget information;
- Review proposed budget submissions from department managers for accuracy and completeness;
- Propose enhancements to the budget model;
- Review the final creation of consolidated budget version for management approval;
- Propagate the approved budget and explain issues as requested;
- Identify variances between actual revenues and costs with budgets and investigate reasons;
- Provision of timely and valuable management and operational information across the business, maintaining and expanding a range of reports in order to assist budget holders in the effective management of their costs and revenue targets;
- Review the profit & loss account and relevant sections of the Balance Sheet on a timely basis, and to provide supplementary reporting, analysis and support to all budget holders and the Executive team;
- Ensuring spending is kept in line with the budget;
- Informing key strategic decisions and formulating business strategies;
- Advising on the financial implications and consequences of business decisions;
- Interpreting and communicating financial data to non-financial managers;
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Key interactions
Internal: Finance departments and team. End users from operation areas and Leadership Team.
External: Oman Investment Authority (OIA)
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Notable Working Conditions. Office based, moderate to intensive computer screen use.
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Education requirements
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- Minimum qualification is a bachelor’s degree in bachelor’s degree in Accounting or Finance.
- Professional accounting qualification such as CA/ACCA/CPA
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Language
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Excellent in reading, writing, and speaking English Language (Required), Arabic Language is desired.
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Background and experience
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Competencies and skills
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- 8+ years of experience
- Working knowledge of IFRS standards.
- Experience in Budgeting, reporting, cost & product accounting.
- Working knowledge of Microsoft Access, Excel, Power Point, Hyperion, and ERP Financial systems.
- Experience in Reporting and Presentations such as (Management Reporting, Treasury Reporting, KPI Reporting)
- Exposure to banking related environment and knowledge of banking transactions, communications and language.
- Financial modelling experience is an added advantage.
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- Strong communication skills (Written and Verbal)
- Time Management and able to handle workload
- Proactive person
- Ability to meet tight deadlines and able to work under pressure
- Attention to detail,
Technical:
- SAP finance module proficiency: Working knowledge of ERP system and advanced MS Office applications skills
- Budgeting, reporting, cost & product accounting,
- Tracking of discrepancies in statement and reports
- Financial analysis,
- Demonstrated effective Bank relation skills and bank procedure knowledge.
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