Senior Financial Analyst – Budgeting And Reporting

Reports to: Senior Manager – Budgeting and Reporting

Job Purpose:

• To support Manager Budgeting & Reporting in overseeing the day-to-day activities of budgeting, forecast and reporting requirements.
• To execute all budgeting, forecast and reporting activities for Nakheel; and comply with the approved Delegation of Authority for evaluating, monitoring, and reporting on transactions requiring budgetary approval for the function.

Key Accountabilities and Tasks:

Governance

• Support the development, implementation and maintenance of systems, procedures and policies for Budgeting and Reporting function for Nakheel.
• Provide inputs on improvement measures to increase effectiveness and efficiency of budgeting and reporting processes based on handling day to day activities of the function.

Budget Planning

• Support in drafting strategic priorities and critical success factors for budget and medium-term plans.
• Support the Manager Budgeting and Reporting to design and tailor the budget templates to meet department and functional needs.
• Support in preparation of budget guidelines or assumptions for budget preparation to be circulated to Departments.

• Communicate budget calendar and share budget templates and guidelines with the Department heads.

Budget Preparation

• Coordinate with relevant departments and collect cost/revenue drivers for the preparation of operational budgets.
• Support in consolidation of all the inputs and generation of all financial reports including balance sheet, profit and loss and cash flow statements.
• Support in preparation of budget pack with consolidated reports and subsequent update of budget packs based on recommendations.

Budget Monitoring

• Prepare year to date performance reports, actual cash flow and cash flow forecast, capital expenditure incurred vs budgeted analysis and support in preparation of variance reports on a periodic basis (monthly, quarterly, and annual).
• Support the process of monthly accounts closure (support AP/AR/GL team monitoring of accruals/reversals) as per applicable accounting standards and policies.
• Support the preparation of variance analysis report with management accounts with and present it to senior management and departments as and when necessary.
• Conduct half yearly variance analysis by preparing relevant reports (Year to date performance reports, cash flow and cash flow forecast, capital expenditure incurred vs budgeted analysis).
• Prepare templates with observed variances and workings and seek information from heads of the department on the variances.
• Collect and compile approved and justified variances, determine if the budget amendment is necessary and develop recommendations for approval.
• Support preparation of annual analysis of overall variances by comparing finalized revised budget for the year against initial planned budget and medium-term plan and compute overall variances.
• Map the variances against applicable threshold and KPIs (General and department specific).

Other Duties

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Qualifications, experience and skills, communication and working relationships:

Qualifications:

• Bachelor of Commerce or a related field, preferably with qualifications such as ACCA, CMA, or CIMA.

Experience:

• 5 years of experience in community management, owners’ association accounting, and audit

Skills, communications & working relationships:

• Excellent communication and negotiation skills, coupled with the ability to work independently.
• Proficient in computer skills, including Microsoft Word, Excel, and Outlook.
• High work ethics, structured thinking, and excellent organizational skills.
• Capability to work under pressure, prioritize diverse tasks, and manage a varied workload.
• Strong commitment to honesty and integrity in both personal and professional life.
• Proficient problem-solving skills and adept at working in team-based environments.
• Willingness to explore and learn new areas, adapting to changes and new environments.