1. Background Information

Job Title: Officer, Financial Planning and Budgeting

Job Grade: 6

Department: Finance

Reports to: Senior Manager, Financial Information Management

2. Contract Terms: Open- Ended

Direct Reports: N/A

Indirect Reports: N/A

3. Purpose of the Job

The purpose of the job is to ensure proper financial planning for the Bank through examination of budget estimates for completeness, accuracy and conformity with procedures and regulations, and to analyze budgeting and accounting reports for the purpose of maintaining expenditure control as well financial projections that would hold in decision making

4. Main Responsibilities of the Job:

• Review internal budgets and transaction summaries for accuracy and rate of spending.
• Analyze financial information (e.g., revenues, expenditures and cash management) to ensure all operations are within budget.
• Preparation of Budget, forecasts and financial projections
• Prepare monthly forecast and variance analysis of income, cash flow and capital expenditure per cost center.
• Prepare and analyze actual versus budget and forecast information for use in monthly management meetings and meetings of the Board.
• Prepare monthly budget variance reports that identify trends and supporting recommendations on cost management.
• Consolidate departmental business needs and the associated financial impacts of those needs on the budget for facilitate success of the business.
• Implement departmental expenditure controls to enhance financial resource accountability for the bank.
• Provide advice and technical assistance to user departments on cost analysis, fiscal allocation and budget preparation.
• Periodically analyze the trends affecting budgets needs and use the information in budget preparation.
• Preparation and Analysis of the financial projections based on the strategic plan and  key assumptions.
• Prepare a detailed Budget analysis per Cost Center and Projects and their performance.
• Prepare projection on capital Planning of the Bank and the resource mobilization planning.
• Financial projection for new projects onboarding for viability and feasibility.
• Analysis of the Income streams to mitigate any income leakage

5. Operational Responsibilities

• Availability and reliability of Budget
• Bank’s performance against the budget set
• Financial Projection for decision making.
• Initiatives of efficiency in cost management of the Bank

6. Working relationships

• Heads of department

7. Professional, academic qualifications and experience

• Bachelor’s degree in finance, Commerce, Accounting, Business Administration/ or related field
• Association of Charted Certified Accountant (ACCA)/Certified Public Accountant (CPA) would be an added advantage.
• A minimum of three (3) years’ experience working in a commercial bank, auditing or similar institution

8. Core competencies

• Knowledge of Budgeting and Planning standards
• Cash flow management experience
• Experience using Accounting Systems
• Knowledge of International Financial Reporting Standards and GAAP
• Experience in Reconciliation of Financial Records
• Knowledge of relevant legislation including changing accounting standards
• Excellent knowledge of Cost accounting, modelling  and reporting