The Budget Analyst is responsible for developing, monitoring, and analyzing budgets for the company. The Budget Analyst will work with management to develop budget plans, track budget performance, and identify areas where costs can be saved.
Develop budget plans. This includes working with management to gather data, develop budget assumptions, and prepare budget proposals.
Gather data from various departments and sources to understand the company’s financial needs.
Develop budget assumptions based on historical data, economic forecasts, and other factors.
Prepare budget proposals that outline the company’s financial goals and objectives.
Monitor budget performance. This includes tracking actual expenses against budget, identifying variances, and reporting to management on budget performance.
Track actual expenses against budget on a monthly and quarterly basis.
Identify variances between actual expenses and budget and investigate the reasons for the variances.
Report to management on budget performance on a monthly and quarterly basis.
Analyze budget data. This includes using financial analysis tools to identify trends, develop forecasts, and make recommendations for improving budget performance.
Use financial analysis tools to identify trends in expenses and revenue.
Develop forecasts for future budget periods.
Make recommendations for improving budget performance.
Identify areas where costs can be saved. This includes reviewing budget data, identifying areas where costs are excessive, and making recommendations for cost savings.
Review budget data to identify areas where costs are excessive.
Make recommendations for cost savings, such as negotiating better prices with vendors or reducing unnecessary expenses.
Prepare budget reports. This includes preparing budget reports for management, the board of directors, and other stakeholders.
Prepare budget reports that are clear, concise, and easy to understand.
Highlight the key findings of the budget analysis.
Make recommendations for future budget periods.
Other duties as assigned. This may include a variety of other tasks related to the budget function, such as preparing presentations, conducting training, and providing support to other departments.
Prepare presentations to management and the board of directors.
Conduct training on budgeting procedures.
Provide support to other departments with their budgeting needs.
Bachelor’s degree in accounting, finance, or a related field.
Experience in budget analysis.
Strong understanding of accounting principles and procedures.
Excellent analytical and problem-solving skills.
Ability to work independently and as part of a team.
Excellent written and verbal communication skills.