Budget Analyst Officer at Ralds & Agate

Purpose of the Job

• The role holder is responsible for managing the full budgeting cycle and implementing robust cost control frameworks to ensure alignment of expenditures with approved financial and operational targets.
• This role provides management with accurate cost reports, variance analyses, and forecasts, enabling proactive decision-making. It serves as a bridge between Finance, Project Managers, and Asset Teams to promote accountability, transparency, and cost efficiency across projects and operations.

Job Responsibilities

• Budgeting & Planning
  • Lead the development and consolidation of annual budgets in collaboration with asset managers, department heads, and project teams.
  • Translate operational and project plans into financial budgets, ensuring consistency with corporate objectives.
  • Develop and maintain budget models, templates, and guidelines to support accurate planning.
• Cost Control & Monitoring
  • Implement and oversee detailed cost control systems, tracking actual spend against approved budgets and AFEs (Authorizations for Expenditure).
  • Investigate variances, identify root causes, and recommend corrective actions.
  • Ensure that all cost data is accurate, timely, and aligned with company accounting policies and JV requirements.
• Forecasting & Reporting
  • Manage monthly and quarterly expenditure re-forecasting, providing early warning of potential overruns or underspending.
  • Prepare and deliver timely cost performance reports and dashboards for senior management.
  • Support decision-making by providing actionable insights on expenditure trends, cost efficiency, and resource utilization.
• Stakeholder Engagement
  • Partner with project managers and asset teams to monitor project expenditures and improve financial accountability.
  • Liaise with JV finance, auditors, and regulatory bodies to support transparent reporting and compliance.
  • Provide training and guidance to non-finance staff on cost control principles and practices.
• Process & Systems Improvement
  • Continuously improve budgeting, forecasting, and cost reporting processes, tools, and methodologies.
  • Leverage ERP systems and analytical tools to enhance data accuracy and reporting efficiency.
  • Promote standardization and best practices across cost management processes.

Requirements

• Bachelor’s Degree in Finance, Accounting, Engineering, or a related field. A Master’s Degree or MBA is an advantage.
• Professional certifications such as CPA, CMA, ACCA, or PMP are highly desirable.
• A minimum of 4 years of experience in budgeting, cost control, or financial management within the oil and gas industry.

Knowledge and Skills:

• Knowledge, experience and proficiency demonstrated in all the activities described above.
• Proficient in financial modeling, cost management software (e.g., SAP, Oracle), and MS Excel.
• Strong knowledge of upstream oil & gas project economics, AFEs, and cost control frameworks
• Ability to present complex financial data in clear, actionable insights for decision-making.
• Familiarity with IFRS/GAAP and JV accounting practices.
• Excellent communication and interpersonal skills, with the ability to collaborate effectively in a team environment.