Budgeting - #25179

Bupa Arabia


Date: 2 weeks ago
City: Jeddah
Contract type: Full time

Job Description

Role Purpose:

To manage the Bupa Arabia annual planning cycle by forecasting key financial variables and reporting shortfalls against it to provide management with tools and information to make informed business decisions.


Key Accountabilities:

1- Annual Operating Plan;

  • Prepare Annual Operating Plan (AOP), 3 Year Plan (3YP),Forecast 1 (F1) and Forecast 2 (F2) on a detailed cost center level with coordination between all department managers
  • Complete Bupa Group Templates for AOP, 3YP, F1 ,F2 and YoY reconciliations and ensure that all group requirements for the planning cycle are completed on a timely basis
  • Develop AOP and 3YP scenarios including what if analyses with recommendations

2- Funding Shortfall;

  • Prepare 12-month rolling forecast for Bupa Arabia Solvency, Income Statement, Balance Sheet and Free Cash Flow on a monthly basis to facilitate top management decision making
  • Prepare monthly analysis on regulatory/IFRS solvency, risk and opportunities to budget and balance to achieve schedule
  • Supervise preparation of contribution forecasts on a monthly basis to monitor volumes, pricing and risk cost against plan and ensure top management has the required data and opportunity to act on a timely basis
  • Calculate the impact of payment flexibility and prospective major accounts on bad debt expenses and solvency

3- Opex Management;

  • Carry out a regular review of headcount and staff related costs against plan. Present staff costs outlook to top management on a monthly basis clearly explaining key assumptions behind the forecasts
  • Maintain a master list of all approved headcount positions in the organization and ensure all exceptions are approved by top management
  • Supervise monthly reporting of Opex against budget to cost center managers and identify key issues/variance
  • Supervise controls on activity driven Opex by managing the approval process relating to purchase orders (PO) and supplier invoices. Brainstorm ideas within planning team for cost saving initiatives and process improvement

4- Commission Schemes;

  • Support the design and organization of the commission scheme for new business, renewals and retail segment. Coordinate with underwriting committee to make sure that commission scheme is aligned with company objectives
  • Review monthly commission payment prepared by commission accountant to ensure accuracy of payments

5- Corporate Finance;

  • Supervise updates on retail channel profitability including passport branches.
  • Supervise preparation of feasibility reports for new products and ventures
  • Prepare business plans for new products

6- People Management;

  • Leads team goal setting, manages and constantly reviews team and individual performance and provides regular feedback, coaching and development
  • Motivates, empowers and enables direct reports by providing the necessary tools and support required to achieve business objectives

Skills

  • Forecasting
  • Budgeting
  • Scenario Development
  • Accounting
  • Industry certification e.g. CFA

Education

Bachelor in Finance

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