Manager - Financial Planning and Budgeting

Role Objective

The Financial Planning and Budgeting Manager is responsible for overseeing and revamping Oman Air's financial planning and budgeting process. This role is essential to ensure accurate financial planning, budget development and monitoring, while finding effective ways to optimize/minimize spending. Furthermore, the Financial Planning and Budgeting Manager will ensure that funding is properly allocated to the different departments as per the plan and maintain accurate and up-to-date records. The Manager will take charge of evaluating budget needs and ensuring effective distribution of funds while aligning to Oman Air's new direction and transformation.

Area of Responsibility

General Responsibilities

1. Develop financial forecasts for the organization and identify trends, risks, and opportunities in line with Oman Air's new direction and strategy.
2. Develop and maintain the dynamic model to analyze the trends, variance, ratios, etc.
3. Bring new initiatives and automation in the reporting.
4. Manage the organization annual financial budgeting process in collaboration with all departments to understand their budgeting needs and ensure accuracy in the forecasting.
5. Manage the annual, quarterly and monthly projections (i.e., business plan, income statement, etc.).
6. Conduct benchmarking and market analysis to ensure each department's budget is in line with best practices.
7. Analyze and benchmark exercise of previous budgets, comparing financial allocations and performance against industry standards and identifying areas of improvement for future budgeting.
8. Monitor and track the annual budget against actuals, on a periodic basis, to track variances and deviations and mitigate as required.
9. Assess the budget to identify cost-saving opportunities and provide recommendations on how to optimize costs (e.g., through implementing a zero-based budgeting approach where all expenses must be justified for each new period, starting from a "zero base", with every function within the organization analyzed for its needs and costs).
10. Support in reviewing the CapEx investment budget needs and proposals.
11. Assess the current models/tools/templates used to conduct financial planning and budgeting and implement an improved approach to conducting the budgeting.
12. Continuously evaluate, drive and identify improvements to the financial planning and budgeting process.
13. Prepare regular financial reports and other decision models as required by the Financial Planning and Analysis Function Head.
14. Work closely will all departments to address their budgeting needs and issues.
15. Work closely the departments and stakeholders on developing and updating financial policies and procedures.
16. Work closely with the Digital, Data, and IT team to automate the financial planning and budgeting.

Education & Experience

➢ 8+ years of financial experience with a minimum of 3 years' experience in a managerial role focusing on financial planning and budgeting in aviation (mandatory).

➢ Bachelor's degree in finance, accounting or related field and a professional accounting accreditation (e.g., CA, ACCA, CIMA, CPA, etc.) is a must. Modeling certification will be an added advantage.

➢ Strong ethical conduct with dedication to maintaining ethical standards across all corporate matters and adhering to the aviation industry laws and Code of Conduct.

➢ Demonstrated outstanding organizational and leadership abilities.

➢ Strong organizational and time-management skills.

Special Skills & Knowledge

1. Strong financial acumen and familiarity with aviation finance practices including managing annual budgeting process in complex organizations.
2. Ability to analyse business decisions based on value creation and option analysis.
3. Experience in financial planning and budgeting roles, with a track record in budget development and monitoring.
4. In-depth knowledge of analyzing costs and expenses including driving financial results and cost-saving initiatives.
5. Knowledge in zero-based budgeting.
6. Demonstrated organizational and leadership abilities.
7. Deep business knowledge, strategic thinking, and ability to derive financial insights for decision making.
8. Experience aligning budget with strategic objectives including strategic thinking and financial planning skills.
9. Familiarity with reviewing and enhancing financial policies and procedures.
10. Experience driving large financial transformations with proven track record of driving financial success.
11. Proven track record collaborating with cross-functional teams and stakeholders to achieve financial objectives.
12. Knowledge in building and leading high-performing financial planning teams.
13. Dynamic leader able to manage a multi-cultural team, with a commanding presence and excellent communication skills.
14. Strong financial analysis skills, including cost analysis and forecasting including proficiency in financial modeling and data analysis tools.
15. Strong presentation skills including attention to detail and a high level of accuracy.
16. Self-starter, entrepreneurial mindset with experience in implementing disruptive and innovative business models.
17. Ability to work in a fast-paced environment / transformational setting.
18. Drive change and in the budget/business plan process to eliminate waste and therefore improve the timeline of budgeting and forecasting.
19. Organized and efficient and a strong problem solver and decision-maker.
20. Proficiency in English (must) and Arabic (preferred).