Project Budget Officer

Background

The Project Budget Officer is responsible for overseeing all budgeting and financial management activities for the Bahamas Debt Conversion Project for Marine Conservation (BDCPMC). Reporting directly to the Grants & Projects Manager, this role ensures efficient coordination of projects accounts. Responsibilities include maintaining accurate financial information, processing payments, preparing financial and operational reports, and participating in financial planning. The Budget Officer monitors spending, tracks expenses, prepares financial statements, and ensures compliance with the BDCPMC Standard Operating Procedures. They reconcile accounts, provide financial advice, and create budget reports. Working with minimal supervision, the Budget Officer work is reviewed quarterly by the Project Grants Manager. This role offers opportunities for growth in financial management.

Key Responsibilities

The BNT Project Budget Officer will undertake the following tasks:

Budget Development and Monitoring

• Develop, monitor, and update the project’s detailed budgets.
• Review requisitions and purchase requests to confirm alignment with the budget, ensuring proper coding for budgetary and accountancy management.
• Supervise and participate in the review of project-related budget requests for accuracy, completeness, and conformance to instructions.
• Make recommendations for changes in project requests to ensure project success.
• Evaluate the financial and operational efficiency of project requests, ensuring all needs are included and suggesting adjustments as needed.

Financial Analysis and Reporting

• Analyze project-related payment requests, ensuring they align with approved budgets and funding allowances.
• Contribute to the follow-up of project financial operations and reporting.
• Prepare quarterly financial reports on project budget transactions, including the status of budgetary accounts, capital projects, and expenditures.
• Assist in preparing documentation for project audits, financial reviews, and funder reports.
• Attend project budget review hearings; make presentations explaining and justifying budget requests; distribute budget adjustments according to project priorities.

Procurement and Expenditure Management

• Ensure proper documentation and archiving of all expenditures related to project activities and grant funding.
• Monitor project expenditures to identify potential overdrafts, surpluses, or cost savings opportunities.
• Review requisitions for conformance to the project’s budget and notify Project Managers of requisitions for non-budgeted items.
• Work closely with Project Managers, procurement officers, and external vendors to ensure budget adherence and operational efficiency.

Policy Development and Communication

• Support the development and implementation of financial policies and internal controls for project activities.
• Communicate effectively with team members regarding budget updates, procurement status, and financial procedures. 

Related Tasks

• Perform other related work as required.

Skills & Experience Requirements

• Bachelor’s degree in accounting, finance, or a related field, with a minimum of 5 years’ relevant experience, or a High School Diploma or equivalent, with a minimum of 10 years’ experience in accounting, budgeting, and financial management.
• Demonstrated experience managing project budgets and procurement.
• Proficient in financial software, including excel and budgeting tools to develop and maintain financial models and automated reports.
• Proficient in Microsoft Excel and other budgeting/financial software applications.
• Demonstrated outstanding analytical skills with the ability to interpret budgetary, financial, and project performance data.
• Ability to interpret and analyze complex financial information and generate meaningful insights.
• Strong critical thinking and creative problem-solving skills to address complex budget challenges.
• Keen attention to detail in all aspects of financial management and reporting.
• Working knowledge of general accounting principles and practices, with emphasis on university financial accounting.
• Proven ability to formulate and implement financial policies and standards to ensure accountability and compliance with project requirements.
• Excellent communication, interpersonal, and organizational skills.
• Demonstrated ability to build strong relationships with stakeholders at all levels of the organization.