Budget Officer

Schedule

Overview

This position assists in the development, monitoring, tracking, and reporting of organizational budget information. Analyzes budget patterns, income and expense drivers, and project expenditures. Assists in the development of departmental and divisional budgets. Develops and distributes financial reports for budget variance and forecast analysis. Analyzes and researches budget variances and works with the Budget Administrator to recommend income and expense improvements. Assists in the preparation of annual financial data to be presented to the Board of Directors. Works closely with the Budget Administrator and profitability analysts in developing and maintaining profitability models. Completes any surveys distributed by government agencies.

Responsibilities

1. Assists in the design, implementation, and maintenance of effective systems to collect and compile budgeting and forecast information.

a. Collects budget information from branch/department managers and vice-presidents and compiles inputs into an overall credit union budget.b. Collaborates with the Budget Administrator, treasury department, and capital planning committee to support and facilitate the capital planning process. c. Analyzes all general ledgers accounts to discover underlying drivers of income and expense for incorporation into the budgeting process to enhance budgeting precision. d. Assists in developing effective methods to collect budget information that will support project management and reporting.e. Assists in defining and building methodologies in the budgeting system to calculate income and expense amounts using drivers and other related metrics.f. Reports budget information to the Budget Administrator, Accounting Manager, senior management, and treasury department.

2. Monitors and reports on budget performance.

a. Integrates income and expense amounts from the general ledger into the budgeting system to facilitate the preparation of actual vs. budget performance information. b. Assists in the development and distribution of information through multiple formats including but not limited to dashboards, fixed reports, ad-hac reports, etc. to management for reporting on budget performance.c. Ensures reports are timely, accurate, and complete according to defined reporting schedules. Promotes the use of automation in the distribution of reports.d. Assists in the development and distribution of monthly and ad-hoc reports to the steering committee and project managers on the budget status of individual projects.e. Assists and advises branch/department managers and vice-presidents regarding budget information for their areas of operation.

3. Performs budget variance analyses.

a. Compares actual and budgeted financial results at the end of each reporting period at both credit union and branch/department levels to identify significant variances.b. Communicates with other employees and management as needed to gather information regarding the cause of significant variances.c. Assists in the development and implementation of mechanisms through which branch/department managers and vice-presidents can provide information about budget variances for individual operational areas and projects.d. Reviews income and expense to identify possible areas of income enhancement and cost savings. Communicates to Budget Administrator and management on identified areas of improvement for evaluation.e. Coordinates and collaborates with employees on the development and implementation of profitability analysis by providing information about drivers for income and expense items.

4. Calculates and prepares forecasted income and expenditure levels based on actual performance and future operational expectations.

a. Coordinates and works with various managers and vice-presidents to gather information about expected future performance of income and expense items.b. Assists in developing models and calculations to project income and expenses over a three-year planning period. Models and calculations should incorporate past performance and future expectations to create reasonable and supportable forecasts.c. Communicates and coordinates with the Treasury and Credit divisions in developing credit loss forecasts.d. Provides a descriptive analysis of assumptions used to forecast income and expense amounts incorporated into the three-year capital plan.

5. Other related duties as required or assigned.

a. Stays informed of market trends and changes in budgeting methodologies and preparation.b. Maintains effective working relationships with accounting department staff, branch/department managers, and vice-presidents.c. Keeps Budget Administrator informed of area activities and of any significant problems.d. Attends and participates in meetings as required.e. Reconciles general ledger accounts as assigned.f. Completes governmental agency surveys when received.g. Completes special projects as assigned.

Qualifications

Training/Education/Certification:

• Bachelor’s degree in accounting, finance, or other relevant business field.

Required Knowledge:

• Working knowledge of MS Excel (advanced formulas, pivot tables, and charts).
• Knowledge of different budgeting practices.
• Knowledge of financial statements and related financial ratios.
• Hands-on knowledge and familiarity with budgeting and accounting software applications.
• Knowledge of financial institution operations is desirable.

Experience Required:

• Previous experience in accounting or finance.
• Previous experience in budgeting, forecasting, and analysis is preferred.

Skills/Abilities:

• Strong analytical skills and attention to detail.
• Strong interpersonal skills and able to work well and communicate with others.
• Strong organizational skills with demonstrated ability to complete deliverables within established timelines.
• Ability to work under pressure with tight deadlines.