Budget & Cost Control Manager (AGT)

JOB PURPOSE:

The Budget & Cost Control Manager is responsible for estimating costs, setting of an agreed budget and managing actual and forecast costs against that budget. This role also supports the Department Manager to prepare reports and analysis for the CFO and key management, as required for ADNOC Global Trading (AGT).

KEY ACCOUNTABILITIES:

Job Specific Accountabilities

General

• Implement and maintain a system of internal controls that will ensure all budget and financial reports are prepared in compliance with the general contractual terms & conditions and policies & procedures
• Support development of a budget, yearly and Five Year Business Plans: This includes gathering information, consolidation, reviewing discussions, calculations and final processing to ensure compliance with corporate budget instructions, agreed timetable and format.
• Assist with the preparation of revenue, operating, cash & logistic budgets and ensure their implementation
• Monitor, evaluate and recommend adjustments for budget allocations, expenditures, fund balances and related financial activities to ensure that allocations are accurate, revenues are recorded, expenses are within budget limits and practices are followed. Identify significant variances and deviations against the approved budget and ensure the availability of funds. Notify management of any under or over-run in costs through variance analysis reports.
• Support the statistical reports preparation in Trading quantities and prices as derived from analysis of lifting and delivery records and ensure availability of those statistics to management.
• Meet and interact with audit personnel for system audit and regular interaction as required with external and internal auditors, answering their technical and financial queries. Participate and recommend for development, customization and enhancement of financial systems including SAP & other systems.
• Develop formats based on professional accounting standards, identify strategies, objectives and action plans to improve work movement within the section and achieve targets.
• Review, analyse and comment for monthly management reporting pack and Financials
• Prepare rolling financial forecast its analysis with budget, actual and prior periods
• Prepare annual budgets and monthly cost centre wise analysis and reporting of variances
• Support Department Manager in managing budgets based on authority levels and limits and taking necessary actions to control and reduce cost
• Support month-end closing by ensuring that all expenses and provisions are booked to appropriate Accounts
• Prepare monthly Management Accounts and performance measurement reports
• Monitor and control of budgets through KPI development, scorecards, timely reporting and meeting with departmental heads

Competencies

• Management experience strongly preferred
• Exceptionally well organized with an aptitude for data
• Outstanding communications skills, both written and verbal
• Solid networking and interpersonal skills
• Able to generate budgets and reports
• Strong presentation skills, able to explain concepts concisely and accurately
• Able to develop strong, cooperative relationships with department heads
• Creative thinking skills and ability to solve problems

COMMUNICATIONS & WORKING RELATIONSHIPS:

Internal

• All internal functions
• Senior Management

External

• Government Authorities

Minimum Qualification

• Bachelor's Degree, in finance or relevant field.
• Certified Chartered Accounting Qualification e.g. ACMA, ACA, ACCA, CIMA, CPA, CFA or equivalent

Minimum Experience & Knowledge & Skills

• 6+ years' experience of in Budgeting, Business Planning a cost control function

• Communications - must have strong oral and written communications skills. Ability to clearly articulate and both support and challenge ideas and recommendations. Strong relationship skills and can proactively engage with senior management colleagues at all levels.
• Teamwork - aligns actions to promote achievement of team goals, influences others’ activities toward group goals, inspires self-confidence in others, places high priority on team performance, helps others be successful, resolves conflicts and removes obstacles 
• Analyzes problems - capable of analyzing problems in a logical manner and recommending solutions, considers both the long- and short-term impact of proposed solutions and develops workable solutions
• Accountable - takes responsibility for actions, makes decisions on best data available and follows through, remains focused on delivering to goals and managing risk
• Ethical and honest, high integrity and trustworthy

Physical Effort

Work Environment

• Minimal physical effort

• Normal office environment

Controls:

• CONTROL: TBC

Limits of Authority:

• Refer to the ADNOC Trading Limits and Delegation of Authority Structure document