Budget Managers are required to evaluate financial requirements of programs, to develop and implement organizational budget strategies and to make professional presentations to top executives.
During the implementation and developmental stages of the budget processes, they may be asked to review proposals, assemble financial documents and ensure that the company maintains financial goals, industry regulations and final budget compliance. Budgets Managers may also be expected to estimate future profits, revenues and expenses in addition to provide financial advice to staff members or managers.
Depending on the company they work for, a Budget Manager may be responsible for managing budgets for more than one client account. And for each account that they work on, it is often required for them to compare the budgeted results at each reporting period end and report any significant variances.
Due to the day-to-day tasks of budget management, budget managers should have strong analytical and judgment skills.
Additionally, they should be proficient in data mining, spreadsheet programs and financial applications. Relevant coursework in statistics, finance and ethics, mathematics, and macro and microeconomics will help you succeed in a budget manager position.
There are a myriad of other responsibilities and skill requirements:
- Have excellent planning, organizing and decision making skills.
- Able to clearly communicate budget ideas and plans to coworkers.
- Knowledgeable of mathematical and financial formulas to calculate future budget requirements.