Who is a budget manager?
A budget manager is a professional responsible for ensuring that the expenses of the accounts that are being managed do not exceed the unit’s allocated budget limit. They are also responsible for requesting budget changes, submitting transfers, approval of transactions, and requesting payments.
What does a budget manager do?
Budget managers are also known as budget supervisors are responsible for implementing and evaluating budgets and cost projections within an organization. They ensure that the project and accounts are managed cost-effectively to maintain adherence to the organization’s financial objectives in the short, medium, or long term.
Job brief
We are looking for a budget manager who will be on our team and will be taking care of the company’s budget and overseeing its implementation. You will also be reviewing the budget proposals and preparing financial documents and reports.
An ideal candidate will consist of a degree in finance or accounting and is familiarized with legal regulations related to accounting and budgeting. To be a successful budget manager, you need to be able to think critically while also creating financial forecasts and making budgeting decisions.
Duties and Responsibilities
The duties and responsibilities of a budget manager can be provided as follows:
- Suggesting spending improvements that will help increase profits
- Reviewing the company’s budget for compliance with legal regulations
- Presenting annual budgets to senior management
- Forecasting future budget needs
- Identification of variances between actual and budgeted financial results at the end of each reporting period
- Ensure that the department managers meet budget submission deadlines that are set
- Review budget requests for approval
Key requirements
The key requirements can be provided as follows:
- Proven work experience as a budget analyst or budget manager
- Excellent knowledge of MS office
- Familiarity with forecasting methods and data analysis
- Ability to explain budgeting and financial information in simple terms
- Strong analytical skills
- Excellent numeracy skills with great attention to detail
- Hands-on experience with accounting software and statistical packages
- Knowledge of best accounting practices and regulations
- Bachelor's or master’s degree in finance, accounting, or relevant field
