Budget Officer (Recurrent)

JOB PURPOSE

Under the direction of the Senior Management Accountant, the Budget Officer –Recurrent (Level 4), is responsible for assisting with the operation of an effective cash management and budgeting system for the Authority. Accordingly the incumbent undertakes daily cash flow management activities, including analysis of the cash flow and makes recommendations for the implementation of cash flow strategies. The Management Budget Officer also compiles the draft budget and assists with the monitoring of the recurrent budget implementation. 

In addition, the incumbent assists the Senior Management Accountant with investment portfolio management and the management of all banking relationships. He/she conducts financial, statistical, and analytical studies; prepares and assists in the preparation of financial reports and statements and assists in the preparation of the Authority’s budget. 

KEY OUTPUTS

• Contribution to the Branch’s Corporate/Operational/Work plans made 
• Draft of the expenditure and revenue cash budgets prepared. 
• Cash allocations and cash management system implemented and operated. 
• Budget and cash resources allocated. 
• Monthly cash flow forecast prepared 
• Budget advice and assistance provided. 
• Estimate of miscellaneous revenue/appropriations-in-aid prepared. 
• Income and expenditure/balance sheet/cash flow prepared. 
• Bank accounts reviewed. 
• Budget Information disseminated. 
• Meetings attended. 

KEY RESPONSIBILITY AREAS

Technical/Professional Responsibilities 

• Assesses and advises management of the likely impact of problems such as late disbursements and inadequate cash flows. 
• Suggests measures to mitigate the negative impact of changes in these macro-economic variables. 
• Evaluates cost efficiencies of the Authority’s recurrent budget
• Suggests suitable amendments to division/branch/section/unit budgets. 
• Prepares a monthly statement of projected cash flows for the month. 
• Ensures that money held on deposit earns the highest possible rate of return.
• Participates in financial planning, procurement decisions, and short-term placement of surplus funds. 
• Evaluates the need for requesting disbursement of additional funds and the short-term investment of surplus funds. 
• Prepares Short, Medium and Long-term financial forecasts. 
• Prepares annual updates of medium-term financing plan. 
• Reviews financial performance each month and prepares monthly variance report.
• Makes use of spreadsheets and different statistical software in order to analyse financial results and track Key Performance Indicators. 
• Monitors changes in macro-economic variables such as; interest rates, inflation rates, exchange rates, fuel prices, etc and reports on the likely impact of these changes on projects, plans, programmes and financial projections of the authority. 
• Liaises with other division/branch/unit heads to compile, analyze, summarize and present the authority’s annual maintenance budget. 
• Reviews budget submissions from divisional heads for completeness, accuracy and reasonableness. 
• Provides advice and assists in performing cost benefit analysis for proposed projects.
• Assists in the determination of expenditure priorities. 
• Prepares monthly report of actual expenditure vs budgeted amounts. Advises management on and participates in the implementation of measures aimed at correcting adverse variances. 

AUTHORITY

• Certifies payment vouchers and other documents 
• Certifies budget corrections 
• Certifies changes to payroll deductions 

PERFORMANCE STANDARDS

• Contribution to the Branch’s Corporate/Operational/Work plans is accurate and comprehensive and is submitted within the established timeframe 
• Draft expenditure and revenue cash budgets prepared within established timeframe and in accordance with the FAA Act, Instructions and Regulations. 
• Cash allocations and cash management system implemented and operated in the established format and within the specified timeframe. 
• Income and expenditure/balance sheet/cash flow prepared within established timeframe and in accordance with FAA Act, Instructions and Regulations. 
• Advice and specialist assistance provided within the specified timeframe and in accordance with the stipulated guidelines. 
• Estimate of miscellaneous revenue/appropriations-in-aid prepared within the agreed timeframe and in accordance with the established format. 
• Budget and cash resources allocated are realistic and reflect the level of allocations and guidelines established. 
• Monitoring mechanisms for Bank Accounts up-to-date and effective. 
• Information and data are disseminated in a timely manner and are relevant to staff. 

REQUIRED COMPETENCIES

Core 

• Good communication skills 
• Good customer relations skills 
• Good problem solving skills 
• Good analytical and judgment skills 
• Good interpersonal skills 
• Good team building skills

Technical 

• Sound knowledge of the GOJ Financial Administration and Audit Act. (FAA), the Public Bodies Management & Accountability Act as well as other relevant Acts, Regulations and Guidelines 
• Sound knowledge of general accounting principles and practices 
• Good understanding of various investment instruments 
• Sound numeric skills 
• Good knowledge of the Authority’s policies and procedures and the Fisheries Bill 2018
• Proficiency in the use of relevant accounting software and Microsoft Office (Excel, Power point, Word) 

MINIMUM REQUIRED QUALIFICATION

• Association of Certified Chartered Accountant Level 2 (ACCA 11) or any equivalent recognized professional qualification in accounting or management 
• Completion of relevant Government Accounting Courses 
• At least four (4) years related accounting experience. 

OR 

• BSc Degree in Accounting or Management Studies or any equivalent relevant qualification from a recognized tertiary institution 
• Completion of relevant Government Accounting Courses 
• At least four (4) years’ related experience in Accounting. 

OR 

• Associate Degree in Accounting (MIND) along with the completion of the revised Certificate in Government Accounting. 
• At least six (6) years related accounting experience 

SPECIAL CONDITIONS ASSOCIATED WITH THE JOB

• Normal office environments 
• Periodically required to work beyond normal working hours, e.g. Budget preparation period
• Occasional island wide traveling

We appreciate your interest in these positions; however, only shortlisted applicants will be contacted.