Lead Planning

2 months ago


Jeddah, Saudi Arabia Islamic Development Bank Full time

Job Purpose

Undertake a lead role in conceptualization of the annual planning and formulation of annual budget including the preparation and circulation of Guidance Notes on planning and preparation of annual Integrated Work Program (IWP) of IsDB and facilitate the submission of departmental/divisional budget requests. Lead in the design and preparation of periodic budget implementation reports for submission to management and Board of Executive Directors. In addition, to manage, oversee and coordinate the work and deliverables of the budget team based on management / departmental priorities. Lead in the formulation and development of budget policies, methods, procedures consistent with approved IsDB policies and adherence to best industry practices. Promote dialogue and cooperation with departments and provide support in implementation of approved budgets as a catalyst to the operationalization of IsDB Strategy.

Key Accountabilities
**Planning & Budgeting Process**
- Conceptualise, design and promote appropriate suitable budgeting mechanisms / methodologies to establish strong linkages between budgetary resources requirements and departmental objectives for effective achievement of key strategic objectives of the bank
- Lead in the conceptualization, planning and designing procedures / methodology for the Integrated Work Programme & Budget leading to the development of Work Programme and Budget document for BED approval
- Lead role in the division’s continuous efforts to implement the IsDB Strategy in collaboration with the Strategy and Corporate Performance Divisions by ensuring that departmental business plans, KPIs and budget proposals are linked to IsDB Strategy.
- Lead the Budget Division team and oversee the consolidation and evaluation of the annual administrative budget proposals based on departmental agreed objectives, business plans and KPIs.
- Lead the Budget team and oversee the consolidation and evaluation of the Capital Investment budget proposals submitted and ensure that the Capital Investment Programme (CIP) is periodically reviewed while incorporating recommendations on best practices for improvements
- Lead the drafting of the Work Programme and Budget document for submission to Management and BED for approval by incorporating both the Administrative and Capital Investment Budget proposals.
- Oversee, follow up the incorporation of the decisions of the Budget Committee within the Budget Process prior to clearance of the President, IsDBG and submission to the Board of Executive Directors for approval
- Lead in consolidating allocated budgeted post BED approval in EPM and ensure consistency with BED resolution for upload in SAP-FM
- Ensure that approve budget is accurately uploaded in SAP-FM one week post BED approval.
- Identify and initiate relevant initiatives/ strategies and present recommendations on potential areas that will result in maximizing cost efficiencies, and realigning resources to priority areas, advise management on issues related to complex budgetary matters to address emerging departmental budget issues.
- Conceptualize modern budgeting techniques consistent with industry best practices through research and collaboration with other Multi-Lateral Development Banks (MDBs) and International Financial Institutions (IFIs) and ensure successful implementation of such budgeting techniques to operationalise the IsDB Strategy and annual work plans of business units for realisation of key strategic objectives of the Bank.

**Guidelines, Policies, Procedures & Manuals**
- Initiate the review and development of budgeting policies, guidelines methods and procedures governing the formulation, implementation and monitoring of Budget utilization
- Responsible for the development, update and maintenance of Budgeting guidelines, policies, methods and procedures in conformity with agreed policies of the Bank as well as migrate best practice budget methodologies and practices.
- Responsible for the development, updating and maintenance of policies, procedures and rules governing the Capital Investment Programme
- Lead in the development of guidelines in the creation of new Funds in the Bank and ensure consistency across all funds
- Lead in the review and development of Cost allocation methodology/mechanism and ensure OCR is not charged with unnecessary expenditures
- Lead in the conceptualization, development and implementation of Activity Based Costing (ABC) and Profit Centre Accounting (PCA) in the Bank.

**Budgeting Function Profile**
- Promote the establishment and maintenance of a high profile budgeting function in the institution so that appropriate recognition and weight are given to the function by Management, Board of Executive Directors and staff as the principal tool for strategy implementation
- Ensure that existing guidelines, policies (cultural model & integrity policies) are adhered to at all times while engaging clients.

**Communication, Collaboration & Innovation**
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