Budget Officer at the OPEC Fund for International Development

The OPEC Fund for International Development is a multilateral development finance institution established in 1976. Our 12 Member Countries are:  Algeria, Ecuador, Gabon, Indonesia, the Islamic Republic of Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates, and the Bolivarian Republic of Venezuela.

We are recruiting to fill the position below:

Job Title: Budget Officer

Location: Nigeria
Employment Type:  Fixed Term Contract
Department / Unit: Finance / Financial Administration Unit
Required Languages:   English
Grade:  Professional
Job Category:   F
Recruitment Status:  International

Job Description

• The Budget Officer performs tasks and activities related to the OPEC Fund’s three-year Administrative and Capital Expenditures Budgets cycle including planning, preparation, validation, consolidation, execution and monitoring.    

Duties and Responsibilities
Data collection & analysis:

• Performs standard projections and analysis on required budgetary resources; interprets raw data and information and prepare management budget reports
• Performs ad hoc analyses that drive strategic business and budgetary decisions
• Analyzes data and financial and business metrics to monitor budget performance and assists Management in achieving objectives with optimal utilization of resources
• Investigates variances between actuals and forecasts or estimated expenses to understand trends and potential risks and opportunities
• Monitors and assesses key budget performance indicators
• Develops and maintains strong understanding of the costs and budgetary performance of the organization at all levels of budget structure including cost centers, categories, elements

Stakeholder management, communication and engagement:

• Creates effective business relationships across the organization throughout the annual budget cycles to maintain accuracy of budget estimates and forecasts
• Cooperates and supports the preparation of the departments’ work plans, to ensure alignment between the business initiatives and the strategic objectives of the institution
• Communicates budget data and figures in reports, narratives and through visual representations
• Assists in the design of periodic budget reports to drive and promotes data driven and informed decision making
• Provides training and guidance to staff on budget-related processes, systems and tools

Reporting:

• Prepares periodic budget reports, dashboards, and analyses on the organization, including budget utilization, reallocations, annual budget performance or any ad hoc report as required
• Develops and maintains key budget metrics

Budget planning and preparation:

• Supports planning and preparing the Administrative and Capital Expenditures budget, in accordance with the institutional budget administration framework, guidelines and manual
• Assists in analyzing the departmental budget submissions, evaluation of the soundness of justifications, ensuring the adoption of activity-based budgeting, finalization of the budget proposals and preparing consolidated budget reports
• Prepares comparative and variance analysis on Budget implementation and utilization
• Supports application of the best financial management practices: budgeting standards, costing methodologies, resource projections, variance analysis and cost allocation
• Contributes to budget systems and processes enhancements, to improve the effectiveness and efficiency of delivering the organizational mandate

Capacity building

• Contributes to the strengthening and capacity building of the Fund by developing and improving management and organizational budget processes and procedures; automations and system enhancements and participates in the committee(s) relevant to these matters

Carries out other tasks assigned by the supervisor that are related to the job function. 

Qualifications and Experience

• A Master’s degree or equivalent in Finance or Business, majoring in Accounting, Financial Analysis, Business Administration or a relevant field
• Recognized accounting and/or financial certification such as the ACCA, CIMA and preferably CFA is desirable
• A minimum of five (5) years of relevant professional experience in a related field, of which at least three (3) should have been at an international development finance institution
• Ability to business convert concepts and objectives into sound financial/numerical logic, principally through modelling and projections
• Fluent in English. Good working knowledge of Arabic, French or Spanish, Russian or Portugese is an added advantage

Competencies:

• Ability to Work Under Pressure - The capacity to remain composed, focused and productive when facing tight deadlines, high-stakes situations and demanding workloads
• Cross-Cultural Sensitivity - The ability to take into account the variety of the human experience and how it contributes to the workplace and to demonstrate  respect for diverse cultures and viewpoints. 
• Effective Planning and Follow Up - The ability to set clear goals and priorities; skillfully organize tasks for efficiency; consistently follow through on commitments and plans
• Subject Matter Knowledge - The in-depth understanding and expertise in specific fields relevant to the OPEC Fund's operations and the individual's role
• Decision making - The ability to analyze information comprehensively to make well-informed decisions; assess both immediate and long-term ramifications

Application Closing Date
11th May, 2025.

How to Apply
Interested and qualified candidates should:
Click here to apply online