Budget Analyst

A Budget Analyst evaluates and analyzes the organization’s financial plans and budgets. They ensure that the company’s resources are used effectively by monitoring expenses and allocating resources. They also maintain compliance with Indian Accounting Standards (Ind AS) and corporate tax requirements.

Why Hire a Budget Analyst?

• A Budget Analyst analyzes budget proposals, ensures efficient resource distribution, and maintains compliance with financial regulations and Indian Accounting Standards (Ind AS). 
• They help identify cost-saving opportunities, track spending trends, and make data-driven financial decisions. 
• They can reduce waste, improve financial transparency, and optimize the company’s financial health through detailed analysis and forecasting.

Job Description Template

We are seeking a skilled Budget Analyst to join the finance team. You will be managing and analyzing financial budgets to improve budgeting processes. This involves examining spending patterns and preparing financial reports. 

You must have a strong understanding of the  Indian Accounting Standards (Ind AS) and relevant financial regulations like GST and TDS. Ultimately, you will ensure that the company’s budgetary plans align with the established financial goals and vision for the future.

Responsibilities:

• Analyze budget proposals and financial data per company objectives.
• Monitor organizational spending to ensure compliance with approved budgets.
• Assist in the preparation of annual budgets, financial forecasts, and cash flow projections.
• Prepare detailed financial reports, highlighting variances and budget discrepancies.
• Conduct cost-benefit analysis for various projects and provide recommendations for resource allocation.
• Ensure compliance with various financial regulations, including GST, income tax, and corporate tax filings.
• Work with department heads to review budget requests and offer guidance on financial matters.
• Develop and improve budgeting tools and models to optimize financial planning and forecasting.
• Track and report on financial performance against budgeted targets.

Qualifications:

• Bachelor’s degree in Finance, Accounting, or Commerce; MBA (Finance) or CA (preferred).
• 3-5 years of experience in financial analysis, budget management, or a related role.
• Strong understanding of Indian financial regulations, including GST and corporate tax.
• Advanced proficiency in Microsoft Excel and financial software such as SAP, Tally, and/or Zoho Books.
• Excellent analytical and problem-solving skills with attention to detail.

Key Skills:

• Budgeting and financial planning
• GST and tax compliance
• Cost-benefit analysis
• Financial forecasting
• Proficiency in Excel and financial modeling
• Budget variance analysis
• Attention to detail and accuracy
• Communication and collaboration skills

Tips For Recruiters:

• Look for candidates with prior experience in managing financial budgets, especially within the relevant regulatory framework.
• Ensure that candidates have strong analytical skills and proficiency in budget forecasting tools.
• Focus on applicants who have experience working with cross-functional teams to manage department budgets.
• Prioritize candidates who can demonstrate experience in managing complex budgets and providing actionable insights.

Key Points to Mention About Your Organization:

• Highlight any financial planning software or tools used in the company to attract candidates with matching experience.
• Mention if your company operates in industries that require sector-specific budgeting (e.g., manufacturing, IT services) to find candidates with relevant experience.
• Outline any opportunities for professional development, such as training in advanced financial analytics or regulatory compliance.

Keywords For Recruiters:

• Budget management
• Financial analysis
• GST compliance
• Cost-benefit analysis
• Financial forecasting
• Budget variance analysis
• Resource allocation
• SAP/Tally/Zoho Books proficiency
• Tax compliance