The OPEC Fund for International Development is a multilateral development finance institution established in 1976. Our 12 Member Countries are: Algeria, Ecuador, Gabon, Indonesia, the Islamic Republic of Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates, and the Bolivarian Republic of Venezuela.
We are recruiting to fill the position below:
Job Title: Senior Budget Officer
- The Senior Budget Officer is responsible for planning, negotiating and preparing the budget, and for maintaining accurate records of utilization and cost centre allocation, all in accordance with the institutional strategy and framework.
Duties and Responsibilities
- Leads the preparation of the Fund’s annual Administrative Budget, taking into consideration Management’s and Board’s decisions and their short to medium-term financial impact.
- Reviews, analyzes and finalizes the preparation of the annual work plan, working closely with other departments, and taking into account recommendations and decisions of relevant committees.
- Prepares budget proposals, other analytical information and regular reports and submits them for approval to Senior Management, Budget and Strategy Committee and the Governing Board.
- Supports budget discussions with Senior Management, with special emphasis on the link between resources, outputs, performance indicators, work programs, and strategy.
- Provides advice on best financial management practices: budgeting standards, costing methodologies, resource projections, variance analysis, cost allocation and performance reporting.
- Continuously monitors budget implementation, cost drivers, financial projections and prepares comparative and variance analysis.
- Works with the Senior Accountant to enhance budget and financial management systems and processes, to improve the effectiveness and efficiency of delivering the organizational mandate; pays particular attention to financial management and reporting, cost allocation and activity/output based performance indicators.
- Analyzes divisional budget submissions, evaluates the soundness of justifications, ensures performance measures are accurately translated into the budget, finalizes budget proposals and prepares utilization reports for regular budget and special funds.
- Contributes to the strengthening and capacity building of the Fund by developing or improving management and organizational processes and procedures; supports management in the budget and strategy committee.
- Carries out other tasks assigned by the supervisor that are related to the job function.
Qualifications and Experience
- Master’s Degree or equivalent in Finance / Business, majoring in Accounting, Financial Control, Business Administration or other immediately relevant fields
- Recognized accounting certification such as the CA or CPA
- A minimum of 10 years relevant professional experience
- Preferably 3-5 years of budget preparation experience within an international financial institution
- Fluent in English
- Good working knowledge of French, Arabic, German or Spanish is a plus.
- Capacity for conceptual and strategic analysis and good command of budgetary, operational management and performance monitoring matters
- Competence in the use of ERP Systems (preferably SAP), Business Intelligence (BI) tools (preferably Business Information Warehouse (BIW) and Dashboards), and standard MS office applications (Word, Excel, Access and PowerPoint), and a good knowledge of operational and project management systems
- Knowledge of financial and budgetary principles and practices, budget management and financial administration of resources.
- Proven analytical skills and ability to provide technical advice in budget management to managers.
- Demonstrates professional competence and mastery of subject matter;
- Conscientious and efficient in meeting commitments, observing deadlines and achieving results;
- Shows persistence when faced with difficult problems or challenges; Remains calm in stressful situations.
- Operates in compliance with organizational regulations and rules.
Application Closing Date