budget analyst job description
Budget Analyst Job Description
In the present times of cutthroat business competition, every organization wants to achieve maximum production and profit with the help of available resources. In this scenario, budget analysts play an important role by managing an organization's budget, thereby helping in managing the financial resources. Budget analysts are required by large multinational organizations, and needless to say, they have excellent career opportunities.
- Receiving the budget estimates from all the departments of the organization and critically examining them for correctness, accuracy and completeness.
- Studying the previous budget and taking into consideration the benefits and losses incurred during the previous financial year.
- Suggesting suitable amendments in the budget to the higher authorities and managerial staff of the concerned departments.
- Consolidating the data for budget presentation and providing an overview of the financial status of all the operations.
- Rendering financial advice to the management officials of different operations, to undertake proper financial planning and decision-making
- Submitting budget reports to the higher management of the organization for further scrutiny and approval.
- Monitoring the budget throughout the year.
- Preparing detailed reports about discrepancies and amendments that occurred in the budget, during the entire financial year also form an important part of the budget analyst's job description. However, this is done in coordination with the concerned managers of the department or the company.
- Budget analysts also help in projecting the future financial needs, taking into consideration the various projects undertaken by the organization, and help the higher officials in managing the financial resources.
- Sometimes, budget analysts are also responsible for cost benefit analysis, studying financial requests, and researching on alternative and reasonable funding methods for the benefit of the organization.
- A budget analyst also performs tasks such as analyzing policies, assessing related performance, and drafting appropriate legislation.
Budget Analyst | Approx Salary |
Associate | $60,000 |
Program | $65,000 |
Budget Analyst | $70,000 |
Senior | $75,000 |
Supervisory | $105,000 |
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