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
