Role Overview The Budget team, as part of Financial Strategy and Business Planning (FSBP), is responsible for establishing the Bank’s administrative and capital expenditure budgets (GBP279m) and monitoring their execution. This includes assessment of the medium term resource framework and preparation of the budget framework, for discussion with senior management. The key document co-ordinated by the team is the Bank’s Annual Business Plan and Budget (BP&B) document that is approved by the Board of Directors in December each year.
Main responsibilities include:
  • active managing the business plan and budget execution directly with departments as necessary and reporting of expenditure, staffing and cost recovery to senior management on a monthly basis and to the Board of Directors on quarterly basis;
  • direct support to the Vice President’s in budget management across the Bank’s departments, including staff resource planning;
  • playing a critical role in working with and challenging senior management to define the strategy for each annual budget, by identifying relevant themes, trends, needs, approaches and effectively reconciling top down ambitions with bottom up requirements.
  • mid-year review (semi-annually) with detailed full year forecasts to be discussed with individual departments resulting in possible reallocation of budgets and identification of issues to be considered in the next year’s budget;
  • detailed review of the cost base of the Bank in order to identify initiatives for potential cost savings and efficiency gains;
  • dealing with budget issues in respect of individual departments; and
  • working with IT and Administration Departments in establishing and monitoring the Bank’s capital expenditure on IT, headquarters facilities and resident offices.
  • The Budget team is also responsible for analysis of resource utilisation issues, including productivity across functions, analysis of key expenditure items such as travel and consultancy, involvement in new IT systems and design and maintenance of required data warehouse reporting which relate to expenditure control.
  • This role reports to directly to the Head of Budget.​
​Key Responsibilities and Deliverables
The successful candidate would have budget management responsibilities for a number of Bank departments, with the ability to communicate at a senior management level being a pre requisite. The position requires strong intellectual leadership, influencing skills and drive in support of delivery objectives.
Understanding of the strategic role of the budget as an enabler of a business strategy and understanding of the important trade-off between maintaining efficiency and facilitating the organisation, are key characteristics of the role.
This will also involve managing, leading and mentoring certain budget team members in a number of tasks.
Responsibility for budget-related client management for a number of departments within the Bank. Taking the lead in:
  • Establishing the Bank’s administrative and capital expenditure budgets
  • Assess of the medium term resource framework and preparation of initial budget framework proposals
  • Manage of the Bank’s budget preparation process for the internal client base
  • Lead discussions and negotiations with Senior Management on resource requirements and other costs based on thorough analysis of financial data, productivity statistics and a deep understanding of the underlying business requirements and the Bank’s long term strategic objectives
  • Play a key role in aggregating the inputs from department and units in the Bank while at the same time exercise a critical challenge function
  • Budget monitoring
  • Reporting of resource framework: co-ordinating reporting to management on a monthly basis (MMR) and to the Board on a quarterly basis (Institutional Performance Reports);
  • Co-ordination of the overall Mid-Year Budget Review exercise;
  • Close monitoring of client or expense line item expenditure, with issue resolution asserting delegated authority in (re)assigning funds
  • Provide input to senior management and working groups on compensation and benefits policy issues;
  • Manage utilisation of institutional budgets;
  • Leading ad hoc analysis of resource utilisation issues. Examples include review of key expenditure items such as travel and information costs and of productivity across functions;
  • Lead in ensuring accuracy of delivery of budget reporting, systems maintenance and modelling.
  • Manage, supervise and coach the team members on overall budget issues
  • Take a leading role in running the cost efficiency track as part of the Bank’s modernisation agenda. In addition to the key responsibilities and deliverables described above, the individual may be requested to perform other relevant duties as required by business needs. These will either the planned in advance as part of the allocation of the team’s annual objectives across individuals, or will be established during the year.
In this senior role the individual will be expected to represent the department in a number of Bank wide committees and working groups.
Essential Skills, Experience & Qualifications
This is a high level and demanding position requiring a finance professional with significant experience, including the management of large and complex budgets, ideally in an international financial institution or similar environment.
  • The budgeting experience should cover areas such as operating expenses, capital expenditures, staffing (compensation and benefits), retirement plans, planning and management of inflation risk and currency devaluation, productivity and efficiency measurement, headcount management;
  • A background in finance and/or accounting is required; A
  • Advanced degree in Finance, Economics, Business Administration or Mathematics. A reputable accountancy qualification, preferably from a leading university, is a plus;
  • Demonstrable experience of managing teams and interaction with internal clients at a senior level;
  • Computer literacy (MS Office and accounting and budgeting software tools);
  • Very good written and oral communication skills in English. 
Competencies & Personal Attributes
The following attributes will be required:
  • Technical and Professional Expertise –technical and professional knowledge and experience required to be credible with the internal clients, the shareholders, peer organisations and the outside financial community.
  • Strong analytical capabilities and political sensitivity are essential;
  • Management Skills - ability to manage and develop a team of professional staff within a complex environment. Solution oriented management and negotiation skills;
  • Motivation – motivation and commitment to the job, tenacity with drive and ambition to achieve the departmental goals;
  • Decisiveness – ability to listen to internal clients while preserving the capacity to make firm decisions even when under pressure;
  • Communications skills – highly developed written and verbal communications skills that are critical in persuading stakeholders;
  • Team spirit and interpersonal skills – ability to work well with team, sharing ideas and information supporting the team members and valuing their contribution.