Assistant Manager Business Finance (Budgeting & Reporting)

Purpose

The position contributes in the analysis of departments Key areas & helps in better decision making through preparation of different analytical reports. Releases / Supplement the budget amount in accordance with financial mandates and SOPs also explore the opportunity for process improvement and paperless environment.

Education

ACMA/ ACCA or similar qualification

Years of Experience

At least 1 year of experience

Functional Competencies

Area of Responsibilities

1. Budgeting (25%)
   -Prepare and monitor annual O&M budgets aligned with business investment plans and regulatory requirements.
   -Collaborate with cross functional teams to collect budget inputs and ensure consistency with organizational objectives.
   -Monitor MYT allowances and ensure budgets remain aligned with NEPRA approvals.
   -Develop comprehensive budget reports and presentations for management review and Board approval.
   -Coordinate with the Budgeting and Planning team to respond to queries from management, the Board, and investors.
   -Create and maintain WBS structures in SAP ensuring accurate integration of all budget related data.
   -Prepare and update budget manuals for user departments, consolidating guidelines and procedures for effective budget management.

   2. Reporting (30%)
   -Conduct variance analysis on budgets to identify and explain deviations.
   -Monitor financial performance against targets, providing insights for resource allocation and expenditure control.
   -Manage budgetary approvals in line with financial mandates and SOPs.
   -Ensure financial compliance across O&M projects.
   -Prepare monthly O&M commitments including cash flow forecasts, utilization reports, and variance analysis.
   -Support monthly reporting activities by contributing to commitment tracking, cash spending, and finance reports.
   -Reconcile actual O&M expenses with budgeted amounts and analyze variances.
   -Develop monthly O&M performance reports highlighting key plant level financial and operational metrics.
   -Act as a finance business partner by supporting all user departments with financial analysis, guidance, and compliance.

   3. P&L (15%)
   -Prepare monthly plant wise P&L statements based on tariff structures and detailed cost breakdowns.
   -Collaborate with the reporting team to allocate central costs including O&M, finance costs, other expenses, and income.
   -Coordinate with plant teams to manage cost allocations within generation plants for central expenses.
   -Perform revenue and cost reconciliations to identify drivers of losses or gains, proposing measures to minimize losses and maximize value.
   -Issue plant wise P&L reports and liaise with plant management to identify gaps and opportunities for value addition

Areas of Responsibilities (Contd)

1. 4. MYT: (10%)
   -Ensure compliance with investment plan limits and report any variations promptly.
   -Develop and maintain long term financial models to analyze plant lifecycle revenue, O&M expenses, and net reserves, providing actionable insights.
   -Review long term business planning and investment forecasts, highlighting risks and recommending solutions.
   -Prepare regulatory submissions and ensure compliance with NEPRA guidelines.
   -Conduct impact analysis of tariff changes on plant profitability and cash flows.
   -Coordinate with regulatory bodies to address queries and provide supporting documentation.
   -Develop scenario analysis for tariff adjustments, investment plans, and risk mitigation.

   5. Ad-hoc Support: (10%)
   -Provide support for regulatory and internal audit engagements.
   -Assist in preparing board requirements and investor analysis.
   -Assist in compliance documentation and regulatory submissions as required.
   -Provide ad hoc variance analysis for leadership decision making.
   -Coordinate with cross functional teams to deliver urgent data requests and reports.
   -Support special projects such as cost rationalization, benchmarking, or policy reviews.

   6. Policies, Process Improvements, Automation: (10%)
   -Implement budget policies to achieve desired financial outcomes.
   -Collaborate with teams to identify and execute process optimization opportunities.
   -Conduct risk assessments and audits to highlight compliance gaps and recommend corrective actions.
   -Develop and update SOPs while ensuring compliance with accounting standards.
   -Design automated workflows to streamline processes and improve efficiency.
   -Evaluate business processes for automation opportunities, while monitoring major project statuses.
   -Support IT automation projects to enhance efficiency and effectiveness across operations.
   -Optimize approval management and team performance by improving accountability and energy levels.
   -Lead team management initiatives, devising measures for continuous skill improvement and professional growth.