The Specialist - Financial Control is a critical role that supports the financial integrity and management of functional budgets within the organization. The successful candidate will be responsible for overseeing the implementation and execution of budgets to ensure that they align with our strategic financial plan and organizational priorities. This role requires meticulous monitoring of budget utilization, tracking of expenditures against allocated amounts, and proactive identification of potential overruns or underspending. The Specialist will also review all budget submissions, transfers, and change requests to ensure compliance with established financial governance and control policies. Conducting rigorous assessments of budget modification requests, including analyzing business cases and securing necessary approvals, will be essential. In addition, evaluating deviations from budgeted amounts through variance analyses will help identify financial risks and operational inefficiencies, driving recommendations for corrective actions to optimize budget compliance. The incumbent will be tasked with ensuring the timely update of the annual budget and will review periodic reports to reflect the defined budget, securing relevant approvals in the process.
Job Requirements:
- A minimum of 4 years of relevant professional experience in financial control or budget management.
- Demonstrated knowledge of financial governance, control policies, and budgetary processes.
- Proficiency in conducting variance analyses and identifying financial risks.
- Strong analytical skills to assess budget submissions, transfers, and changes strategically.
- Familiarity with financial management systems and tools for effective tracking and reporting.
- Excellent communication skills to interact with various stakeholders, ensuring clarity on budgetary issues.
- Capacity to work collaboratively across departments while maintaining financial accountability.
- Strong attention to detail with the ability to manage multiple tasks effectively under deadlines.
- Proven ability to recommend corrective measures based on financial assessments.
- Knowledge of compliance standards and regulations pertinent to budgeting and financial reporting.
Job Responsibilities:
- Oversee the execution and implementation of functional budgets in accordance with the approved financial plan.
- Monitor budget utilization against allocated amounts to identify potential overruns or underspending.
- Review and evaluate budget submissions, transfers, and change requests for compliance with financial governance.
- Conduct assessments of budget modification requests, ensuring adequate support and obtaining necessary approvals.
- Perform variance analyses to detect financial risks and operational inefficiencies impacting budget performance.
- Review budget increase/change/transfer requests, providing approvals as required and reflecting updates in financial systems.
- Recommend and follow up on corrective actions needed to optimize budget compliance.
- Update the annual budget in a timely manner, ensuring all changes are accurately reflected.
- Review periodic financial reports, securing relevant approvals as required, to reflect the defined budget parameters.
- Collaborate with departmental teams to ensure a comprehensive understanding of budgetary impacts on operational goals.
Required Skills:
- Strong analytical and quantitative skills to interpret financial data accurately.
- Ability to communicate complex financial information simply and effectively.
- Proficiency in budget management software and financial modeling tools.
- Effective organizational skills to manage multiple projects simultaneously while meeting deadlines.
- Excellent negotiation skills to handle discussions regarding budget amendments.
- High level of integrity and ethical standards in managing financial data.
- Competence in utilizing Excel and other financial analytical tools for data analysis.
- Capability to work independently and as part of a team in a fast-paced environment.
- Adaptability to changing financial priorities and stakeholder demands.
- Strong problem-solving skills to address budgetary issues and recommend viable solutions.
