Budget and Reporting Manager

JOB DESCRIPTION:

Responsible for formulating, presenting and monitoring the annual budget of SEHA by undertaking short and long term operating expense and capital cost budgeting through data based on statistical studies and analyses of past and current years. Assisting management in financial decision making by monitoring budgets and providing variance reports that can be acted upon by the senior management and will also assist the departments/sections to make efficient use of resources. Also responsible for cost accounting and cost allocation to accurate cost centers so as to analyze expenditures and variances.

RESPONSIBILITIES:

Key Responsibilities of the role Corresponding Key Activities performed by the role Supporting the development of policies and procedures for the department/section

• Defining company’s annual financial planning and budgeting process and designing resulting annual financial plan and budget
• Establishing strategic plan for the department/section
• Developing systems and internal processes as required
• Coordinating and participating in reviewing the policies and procedures on a regular basis
• Mentoring the departments/sections in budget preparation by explaining budget requirements, budget processes and budget guidelines
• Designing company’s budget control report that requires continuous comparison of actual performance with predicted budgetary performance
• Helping in the revision of budgets with changing circumstances
• Preparing timely budgets for individual business units and functions in the form of sales budget and administrative expense budget
• Conducting budget forecasting activities as input for next year budget and also for mid-year course correction

Ensuring the smooth working of the department/section

• Providing expert advice to the finance department/section on matters concerning budget for financial analysis and reporting
• Supervising the circulation of the approved budget to each department/section, along with the necessary details and providing advice and guidance on budget allocation
• Coordinating with purchasing/materials management/supply chain department/section for the approval of expenditures
• Monitoring and controlling the capital expenditure as per management guidelines
• Liaising with internal and external auditors as and when required

Preparing the annual budget of SEHA

• Initiating, coordinating, and monitoring the annual budget preparation process
• Interacting with all functions to get inputs on budget and preparation of financial reports and forecasts
• Reviewing, monitoring and analyzing the reasonableness and accuracy of budgetary requests and recommending appropriate usage of resources
• Monitoring and evaluating compliance with budgetary restrictions
• Preparing forecasts, projections, trends, revenues and cost analysis
• Preparing senior management budget presentations
• Coordinating the publication of the actual budget document for the concerned departments/sections

Monitoring and Reporting

• Providing advice to the departments/sections about the approved budget to ensure that the agreed budgets are understood
• Assisting in the monthly and quarterly financial analysis to determine significant budget variances
• Preparing ad hoc reports, budget scenarios and related reports for reference of the management
• Supervising the compilation and submission of information on expenditure and other related details in order to help departments/sections for proper expenditures control and future budget preparation all year round

Allocating costs to appropriate cost centers

• Advising on allocation of cost to each department/section and analyzing departmental/sectional performances with respect to return measures
• Providing cost analysis/ data to management in the form of reports as and when required

Anticipating management requirements and supervising the reportees in prepare necessary formats/reports

• Discussing with senior management about information/requirements to meet business needs
• Preparing feasibility studies on new projects/new lines of activities
• Performing other similar or related duties as and when assigned including assisting internal and external auditors as and when required

Managing the team

• Checking workload, performance management, day to day supervision, training and orientation of the staff
• Planning and supervising the day to day activities of the department/section; streamlining processes wherever possible
• Evaluating workload, conducting performance evaluation and initiating necessary disciplinary actions
• Providing on the job training and orienting the team during course of work
• Supporting the identification of the training requirements of the team and communicating the same for the benefit of the training department/section

Ensuring good customer service in the department/section

• Communicating effectively the budget philosophy of the facility to the current employees
• Answering department/section queries and concerns at the facility regarding compliance and regulations to be followed for budgets
• Maintaining collaborative and effective relationships with other key management personnel and keeping abreast of significant economic, social and technical trends, and regulatory guidelines which may influence assigned services

  QUALIFICATIONS: Qualifications, Certifications and Experience
  Required: Bachelor’s degree or equivalent in Accounting/Finance/Commerce/Business Administration or relevant field
  Desired: Master’s degree or equivalent in Accounting/Finance/Commerce/Business Administration or relevant field
  Required: N.A.
  Desired: Recognized accountancy qualification such as CMA,CPA,ACCA,ACA,CA,CFA or equivalent
  Experience Required in addition to the Qualifications mentioned above (Relevant to the Job)
  Required: 6-8 years of relevant progressive experience in a similar role with 3 years of supervisory experience
  Desired: Experience in a large healthcare facility