A Budget Analyst provides vital financial insight to support decision-making. The role centres on preparing budgets, forecasting future expenditure and ensuring resources are allocated efficiently. You will work closely with finance teams and departmental managers to maintain robust financial controls and improve fiscal performance.
The Budget Analyst role requires strong analytical skills, attention to detail and the ability to communicate financial information clearly to non-finance colleagues. Candidates must be comfortable working with large data sets and financial systems to produce timely, accurate reports.
Budget Analyst Job Profile
The Budget Analyst prepares, monitors and analyses organisational budgets to ensure alignment with strategic objectives. They coordinate budget submissions, forecast variances and recommend corrective actions to keep spending within approved limits.
Typical responsibilities include financial modelling, producing monthly budget reports and liaising with budget holders to explain trends and variances. The role supports senior finance staff in annual planning and ad hoc financial reviews.
Budget Analyst Job Description
A Budget Analyst manages the preparation and consolidation of departmental budgets, collaborating with managers to gather assumptions and validate forecasts. They analyse historical expenditure, identify cost drivers and build models to project future spending. Regular monitoring of actuals against budget enables timely identification of variances and supports prompt remedial action.
The post holder prepares monthly and quarterly budget reports, presents findings to stakeholders and recommends efficiency measures. They maintain budget control documents and ensure compliance with internal policies and external regulations. The analyst also assists with year end processes, budget revision requests and capital expenditure planning.
Strong IT skills are essential, including experience with spreadsheet modelling and financial systems. Effective communication is required to translate technical financial analysis into actionable guidance for non-finance colleagues. Continuous improvement and process automation are important aspects of the role to increase accuracy and reduce reporting lead times.
Budget Analyst Duties and Responsibilities
- Prepare, consolidate and maintain departmental and organisational budgets.
- Develop and maintain forecasting models and scenario analyses.
- Monitor actual expenditure against the budget and report variances.
- Produce monthly, quarterly and ad hoc financial reports for senior management.
- Liaise with budget holders to validate assumptions and investigate discrepancies.
- Recommend cost control measures and efficiency initiatives.
- Support the annual budgeting process and long-term financial planning.
- Assist with capital budgeting, project appraisal and business case evaluation.
- Maintain budgetary control documentation and audit trails.
- Implement process improvements and support financial system upgrades.
Budget Analyst Requirements and Qualifications
- Bachelor's degree in Finance, Accounting, Economics or related discipline.
- A professional qualification such as CIMA or ACCA is desirable.
- Proven experience in budgeting, forecasting and variance analysis.
- Strong Excel skills, including modelling, pivot tables and advanced functions.
- Experience with financial systems such as SAP, Oracle or similar.
- Excellent analytical and numerical skills with close attention to detail.
- Effective written and verbal communication skills for stakeholder engagement.
- Ability to prioritise, meet deadlines and manage multiple projects.
- Knowledge of public sector or corporate budgeting practices, where applicable.
- Commitment to continuous improvement and data-driven decision-making.
