How To Hire the Best Budget Analyst
A budget analyst helps an organization determine how they will organize their finances. Although top executives usually make the final decision on an organization’s budget, they rely on the work of budget analysts to prepare the information for that decision.
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A budget analyst helps an organization determine how they will organize their finances. A superior budget analyst keeps company finances and goals on track by running regular financial reports, analyzing data to determine the costs and benefits of various programs, collaborating with executives about funding requirements, and assessing budget decisions about special programs or unique expenses. Although top executives usually make the final decision on an organization’s budget, they rely on the work of budget analysts to prepare the information for that decision.
An effective budget analyst job description clearly lists the functions that the role is expected to perform. Additionally, it’s important to stress the importance of data crunching skills versus the ability to build consensus goals.
How To Hire the Best Budget Analyst
Copy this template, and modify it as your own:
Company Introduction
Write a short and catchy paragraph about your company. Make sure to provide information about the company’s culture, perks, and benefits. Mention office hours, remote working possibilities, and everything else that you think makes your company a compelling career choice.
Job Description
As a budget analyst, you will work with managers to develop appropriate departmental budgets, review budget proposals, prepare regular [insert how often] financial reports, analyze data to determine spending recommendations, and monitor company spending. Additionally, you will review all budgets to ensure they are accurate and comply with appropriate laws.
Responsibilities
- Work with managers to develop appropriate departmental budgets.
- Review managers’ budget proposals for accuracy, reasoning, and compliance with laws.
- Combine department budgets together into a consolidated budget report and review all funding requests for worthiness.
- Present recommendations for funding requests to others in the organization.
- Help top managers analyze proposed plans and find alternatives if the projected results are unsatisfactory.
- Monitor organizational spending to ensure that it is staying within budget.
- Keep program managers informed of the status and availability of funds.
- Work with finance managers to estimate future financial needs.
Skills
- Bachelor’s degree in Accounting, Business, or Data Analytics.
- Between two and five years of experience in federal financial management, budget, or financial analysis.
- Between two and five years of experience in the development of budget justification statements.
- Advanced knowledge of MS Office applications, specifically in Excel, macros, data analysis, and pivot tables.
- Extensive financial statement modeling experience.
- Ability to problem-solve, both autonomously and within teams.
- Approachable and confident personality type, comfortable within a wide range of organizational environments.
- High integrity and natural desire to assume responsibility.
Recent Budgeting Articles by Toptal Finance Experts
How to Hire a Great Budgeting Consultant
A proper budget lays everything out in the open. Every expenditure, investment, and expansion plan is broken down and tallied up. The right budgeting consultant can turn a time-consuming process into a positive experience to refocus a company's strategy. This guide presents the best way to track and test the right skills in top candidates.
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