Budget Analyst Job Description
The given Budget Analyst Job Description can be a real life-saver for those who are looking for a high-qualified specialist to land the position in their company. If used properly, our sample will considerably optimize your quest for a suitable candidate and will help you reduce recruitment expenditure. Please revise our template and make some amendments to make it fit for your company.
Budget Analyst Duties
In brief, budget analyst duty is all about allocation of financial resources. These specialists are responsible for evaluating budget needs for a company. However, this job is not just limited to budget examination and analysis. After the research and all the necessary calculations are done, the budget analyst is expected to develop new strategies that will improve efficiency and boost revenues. When it comes to non-profit organization budget analyst duty is to efficiently distribute resources among the departments. As part of their duties, these specialists are also eligible to provide assistance in budget legislation drafting, performance evaluation, and policy analysis with the following adoption. Sometimes, they conduct professional training as well as develop, apply new budget procedures, and monitor their efficiency.
Budget Analyst Responsibilities
In general, budget analyst responsibilities are clustered around organizing finances of a certain organization. They compile finance reports and oversee spending. More specifically, budget analysts do the following:
- Analyze funding requests and budget proposals
- Respond to these requests or proposals by making budget recommendations
- Explain these recommendations and if necessary, defend them to the upper management or stakeholders
- Work in partnership with the upper management in order to elaborate final budget
- Make sure that a company’s budget complies with all budget related legal regulations
- Carry out cost-benefit analyses
- Monitor company’s spending and detect expenditure tendencies
- Detect budget needs
- Inform the upper management about the budget status
- Foresee potential finance needs
- Suggest measures on improving profits
- Compile routine and special reports
Budget Analyst Requirements
Bachelor’s degree is typically a must for entry-level candidates. However, if your candidate can boast a master’s degree in Budget Analyses or any other related field (Finance, Statistics, or Economics), it will be an unbeatable plus. Also, they must possess some proven finance-related experience. However, if the candidate lacks experience, their finance-related coursework may come in handy.
Nevertheless, all these do not matter if your applicant doesn’t possess knowledge of forecasting methods, data analysis, regulatory requirements, and budgeting, which are vital for budget analyst job. Also, proficiency in MS Office, databases, and graphic software is always advisable.
Budget Analyst Key Skills
- Ability to get into details
- Superior interaction skills, both written and verbal
- Decent mathematical skills and analytical thinking
- Result-oriented nature
- Decision-making abilities