Budget Officer
Vacancy Number: 2242
Department/Unit: Finance / Financial Administration Unit
Date of Issuance: April 7, 2025
Deadline of Applications: May 11, 2025
Required Languages: English
Contract Type: Fixed Term Contract
Grade: Professional
Job Category: F
Recruitment Status: International
Job Profile
The Budget Officer performs tasks and activities related to the OPEC Fundโs three-year Administrative and Capital Expenditures Budgets cycle including planning, preparation, validation, consolidation, execution and monitoring.
Duties and Responsibilities
Data collection & analysis
Performs standard projections and analysis on required budgetary resources; interprets raw data and information and prepare management budget reportsPerforms ad hoc analyses that drive strategic business and budgetary decisionsAnalyzes data and financial and business metrics to monitor budget performance and assists Management in achieving objectives with optimal utilization of resourcesInvestigates variances between actuals and forecasts or estimated expenses to understand trends and potential risks and opportunitiesMonitors and assesses key budget performance indicatorsDevelops and maintains strong understanding of the costs and budgetary performance of the organization at all levels of budget structure including cost centers, categories, elementsStakeholder management, communication and engagement
Creates effective business relationships across the organization throughout the annual budget cycles to maintain accuracy of budget estimates and forecastsCooperates and supports the preparation of the departmentsโ work plans, to ensure alignment between the business initiatives and the strategic objectives of the institutionCommunicates budget data and figures in reports, narratives and through visual representationsAssists in the design of periodic budget reports to drive and promotes data driven and informed decision makingProvides training and guidance to staff on budget-related processes, systems and toolsReporting
Prepares periodic budget reports, dashboards, and analyses on the organization, including budget utilization, reallocations, annual budget performance or any ad hoc report as requiredDevelops and maintains key budget metricsBudget planning and preparation
Supports planning and preparing the Administrative and Capital Expenditures budget, in accordance with the institutional budget administration framework, guidelines and manualAssists in analyzing the departmental budget submissions, evaluation of the soundness of justifications, ensuring the adoption of activity-based budgeting, finalization of the budget proposals and preparing consolidated budget reportsPrepares comparative and variance analysis on Budget implementation and utilizationSupports application of the best financial management practices: budgeting standards, costing methodologies, resource projections, variance analysis and cost allocationContributes to budget systems and processes enhancements, to improve the effectiveness and efficiency of delivering the organizational mandateCapacity building
Contributes to the strengthening and capacity building of the Fund by developing and improving management and organizational budget processes and procedures; automations and system enhancements and participates in the committee(s) relevant to these mattersCarries out other tasks assigned by the supervisor that are related to the job function.
Qualifications and Experience
A Masterโs degree in Finance or Business, majoring in Accounting, Financial Analysis, Business Administration or a relevant fieldRecognized accounting and/or financial certification such as the ACCA, CIMA and preferably CFA is desirableA minimum of five (5) years of relevant professional experience in a related field, of which at least three (3) should have been at an international development finance institutionAbility to business convert concepts and objectives into sound financial/numerical logic, principally through modelling and projectionsFluent in English. Good working knowledge of Arabic, French or Spanish, Russian or Portugese is an added advantageCompetencies
Ability to Work Under Pressure - The capacity to remain composed, focused and productive when facing tight deadlines, high-stakes situations and demanding workloadsCross-Cultural Sensitivity - The ability to take into account the variety of the human experience and how it contributes to the workplace and to demonstrate respect for diverse cultures and viewpoints. Effective Planning and Follow Up - The ability to set clear goals and priorities; skillfully organize tasks for efficiency; consistently follow through on commitments and plansSubject Matter Knowledge - The in-depth understanding and expertise in specific fields relevant to the OPEC Fund's operations and the individual's roleDecision making - The ability to analyze information comprehensively to make well-informed decisions; assess both immediate and long-term ramifications