Budget Controller

1 day ago


Doha, Baladīyat ad Dawḩah, Qatar Rigzone Full time
Roles and responsibilities

Responsible for all Financial Planning, Budgeting & Cost Control for the OE(I) (Engineering & Construction) and OH(I) (HSE) departments in OI including the preparation of Work Program & Budget for the next 5 years as per QatarEnergy's Corporate Budget Guidelines. Responsible to carry out other 'Business support' activities, planned /unplanned, as required by higher management or by contingent situations.
Budget Planning and Management:
Develop Budget Plans: Create detailed budget plans for projects, departments, or the entire organization, ensuring alignment with strategic goals and objectives.
Coordinate Budgeting Process: Collaborate with department heads and other stakeholders to gather financial data, understand needs, and prepare comprehensive budget proposals.
Monitor Budget Variances: Track actual spending against budgeted amounts, identifying any discrepancies, and addressing any budget variances promptly.
Control Spending: Ensure that all expenses stay within approved budgets by monitoring expenditure and implementing cost control measures.
Financial Forecasting:
Project Future Budgets: Use historical data, trends, and performance metrics to forecast future budget requirements for upcoming periods.
Estimate Revenues and Expenses: Analyze revenue streams and operational costs to predict future financial needs, helping to ensure the financial health of the organization.
Adjust Forecasts: Regularly update forecasts based on changing circumstances, such as market conditions, project delays, or unforeseen expenses.
Cost Control and Recovery:
Identify Overspending: Review financial reports to identify areas where the budget is being overspent, and determine the causes of the overspending.
Implement Cost Recovery Plans: Create and implement strategies to recover funds from overspent or mismanaged budgets. This may involve reducing unnecessary costs, negotiating better deals with suppliers, or reallocating resources.
Track Recovery Actions: Monitor the effectiveness of cost-recovery initiatives and ensure that they are achieving the desired financial improvements.

Desired candidate profile

1. Preferably 7+ years of experience with at least 4 years in supervisory position with relevant work experience in a similar position including Economics, Management /Financial Accounting, Reporting, Budgeting, Estimating, Planning and Costing functions in Oil and Gas Industry.2. Good interpersonal, problem solving, analytical, communication and presentation skills.3. Good command of English (both verbal and written skills).4. Knowledge in Microsoft applications and good working experience in integrated database system is essential (SAP preferred).5. Works with confidentiality, integrity and work ethics; follows policies and procedures of the Corporation; proactive, innovative, improvising and seeks opportunities for continuous improvement.6. Ability to effectively manage diverse and multi-cultural task force. Readily available to assimilate information and highly flexible in approach to adjust in changing environment.

Educational Qualifications

Bachelor's degree in commerce / accounting / finance / economics or science, from an accredited University OR Professional Qualification such as ACA, ACCA, CPA, CMA etc. (Post graduate qualifications are desirable).



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