Financial Planning & Budgeting Manager at Deloitte

Job Purpose

The Financial Planning & Budgeting Manager will develop and implement comprehensive financial plans, budgets, and forecasts for AMCE, ensuring alignment with strategic objectives and compliance with healthcare regulations. The role holder will provide financial insights, identify areas for cost reduction, and optimize financial performance and maintain high levels of financial integrity, transparency & accountability.

Core Responsibilities

Financial Analysis

• Analyze financial statements (financial position, income statement, cash flow statement) to identify trends, strengths, weaknesses, opportunities, and threats.
• Calculate and interpret financial ratios (liquidity, profitability, efficiency, solvency) to assess AMCE’s financial performance.
• Conduct variance analysis to identify variances between AMCE’s actual and budgeted financial results to inform corrective actions.
• Develop financial models to forecast revenue, expenses, and cash flow, and to evaluate different business scenarios.
• Conduct cost structure analysis to identify areas for cost reduction and optimization and develop recommendations for improvement.
• Carry out an assessment and evaluation of AMCE’s financial performance against industry benchmarks and best practices.
• Identify trends and potential risks that may impact AMCE’s financial performance.
• Develop financial dashboards and reports to provide stakeholders with insights into AMCE’s finances to aid the decision-making process.
• Evaluate ROI on investments and assets to inform strategic decisions.
• Conduct special financial analysis projects as needed.

Financial Modelling

• Develop comprehensive financial projections by designing and developing financial models to forecast AMCE’s revenue, expenses, and cash flow.
• Conduct sensitivity analysis to test assumptions and identify potential risks in AMCE’s financial models and inform strategic decisions.       
• Develop financial models to evaluate investment opportunities to ensure alignment with AMCE’s strategic objective and assess return on investment (ROI).
• Develop and analyze scenario plans to evaluate different business scenarios and inform strategic decisions for AMCE.
• Design financial dashboards, conduct data analysis and visualization, and provide actionable financial insights to stakeholders.
• Update and maintain financial models, conduct regular reviews of the models and sensitivity analysis to ensure accuracy, relevance and compliance.
• Develop stress testing scenarios, conduct sensitivity analysis, evaluate potential outcomes and provide recommendations where necessary.

Forecasting and Budgeting

• Regularly predict AMCE’s financial performance by collaborating with the stakeholders to determine forecasting requirements, design forecasting models incorporating historical data and market trends, and conduct statistical analysis to ensure model accuracy.
• Analyze budget against actual performance to identify budget variances and causes, develop recommendations for budget adjustments, and collaborate with stakeholders to implement budget changes to ensure optimal budget performance monitoring.
• Collaborate with department heads to determine budget requirements, develop budget templates, and conduct budget reviews and approvals to ensure budget alignment with strategic objectives and maintain budget documentation.
• Collaborate with stakeholders to design and develop rolling forecast model requirements and ensure regular updates to enable provision of actionable forecasting insights.
• Analyze financial statements, identify trends and areas for improvement through recommendation and collaborate with stakeholders to implement financial changes for optimal financial performance.
• Collaborate with stakeholders to develop budget policy documents and ensure regular review and update of the budget policy.
• Carry out budget risk assessments and monitoring activities and develop and implement risk mitigation strategies.

Educational Requirements

• Bachelor’s degree in finance, accounting, or related field.
• MSc.in a relevant discipline will be an added advantage.

Professional Requirements

• Possession of a professional certification (such as Certified Financial Planner, or Certified Management Accountant) is an added advantage.
• Evidence of continuing professional and managerial development.

Experience Requirements

• Minimum 7 years of experience in financial planning and budget management.
• Experience in budgeting, forecasting, and management reporting.
• Experience in automation and use of appropriate tools

Competency Requirements

Knowledge Requirements

• A deep understanding of International Financial Reporting Standards (IFRS), especially as applied to healthcare organizations.
• Knowledge of various reimbursement methodologies, including Medicare, Medicaid, and commercial insurance.
• Strong analytical skills to interpret financial data, identify trends, and make informed decisions.
• Understanding of cost accounting principles to allocate costs to different departments and services.
• Knowledge of budgeting and forecasting techniques, including zero-based budgeting and scenario analysis.
• Proficiency in data analysis tools and techniques to extract insights from financial data.
• Ability to develop and use financial models to forecast future performance and assess the impact of different scenarios.

Skills Requirements

• Financial Analysis
• Financial Modeling
• Problem-Solving
• Communication
• Leadership
• Negotiation
• Attention to Detail
• Time Management

Personal Abilities

• Professional attitude towards work
• Shares the AMCE values
• Strong oral & written communication
• Outstanding report and presentation drafting skills
• Stakeholder management
• Problem solving
• Organization and planning
• Accountability
• High attention to detail with the ability to make sense of complex and high quantity information