Manager - Budget Monitoring and Controlling

Manager-Budget Monitoring/Controlling

About Nayara Energy:

Nayara Energy is a new-age downstream energy and petrochemicals company with a formidable presence spanning across the entire hydrocarbon value chain, from Refining to Retail. Nayara Energy operates in India for India driven by a relentless commitment to fuel the nation's energy aspirations. At the heart of our operations lies the Vadinar refinery, India's second-largest single-site refinery with a capacity of 20MMTPA.With over 6,300 Retail Outlets, we cater to the need for reliable and safe mobility across the length and breadth of the country. We have adopted a phase wise asset development strategy to enter the petrochemicals sector which will be a significant step in our crude to chemicals journey. Through sustainable development projects in Health and Nutrition, Education and Skill Development, and Sustainable Livelihoods, Nayara Energy enhances the quality of life in the communities it operates in. Delivering value for all our stakeholders is at the very core of our beliefs and we are committed to providing the energy that fuels the dreams of our employees, customers, partners and communities.

Job Purpose:

Accountable for budget preparation (Opex Budget) and various MIS-related activities.
Key responsibilities include preparation of the Annual Business Plan (Corporate Opex Budget for 5 years), bridge analysis, depreciation workings, and interest consolidation.
Also responsible for Debt Profile Analysis (~$3 Bn), Capex Budgeting & MIS, budget control through SAP Funds Management Module, cost optimisation, GL review, DOA & RACM compliance, and common cost allocation under Project Dexter.

Key Responsibilities:

1. Corporate Opex Budget Preparation
• Prepare 5-year Corporate Opex Budget (~$50 Mn) based on inputs from ~30 departments
• Critically review templates and inputs against historical spend and ABP
• Liaise with business units for corrections and monthly SAP updates
• Facilitate additional budget approvals

2. Controlling Budget via SAP Funds Management Module
• Map approved budget lines to Fund Centers and commitment items (~$400 Mn Opex)
• Upload and release budget in SAP across ~400 line items
• Guide users on DOA-based approvals and reallocation
• Resolve budget queries related to GL, cost centers, and system issues
• Ensure DOA and RACM compliance

3. Debt Profile Analysis (Additional)
• Prepare facility-wise budget vs. actual debt and interest analysis
• Coordinate with Finance for interest projections and assumption tracking
• Reconcile debt balances (~$3 Bn) with financials
• Consolidate long-term interest and working capital inputs for budget P&L

4. Capex Budgeting
• Prepare Capex Budget (~$200–$400 Mn) based on business inputs
• Analyze against historical spend and justify changes to management
• Finalize Capex Budget and Cashflow post management review

5. Capex MIS
• Prepare project-wise Capex MIS and report deviations
• Reconcile MIS with financials and report to shareholders
• Review quarterly Capex revisions and update monthly projections for cashflow

6. MIS Reporting
• Prepare detailed schedules for key Opex items and departmental consumption
• Report plan vs. actual to user departments and resolve queries
• Prepare lease-related Opex statements and common cost allocations (Project Dexter)
• Conduct financial reconciliation and trend analysis

7. Salary MIS (Additional)
• Prepare monthly Salary MIS (~$120 Mn) and compare with budget
• Reconcile payroll with books and explain deviations
• Ensure correct provisions and accounting for expat benefits and HR expenses
• Assist HR in salary budgeting for ABP

8. Cost Optimisation (Additional)
• Review Opex (~$450 Mn) and Capex proposals for optimisation opportunities
• Draft proposals and implement approved changes in SAP
• Respond to business queries on targets and historical spend

9. Opex Analysis & GL Scrutiny
• Submit monthly Opex reports with qualitative analysis to CEO/CFO
• Conduct deep-dive Opex 2.0 reviews and trend analysis
• Scrutinize GL items, provisions, and cost center allocations
• Identify and correct exceptional items
• Support internal audits of Opex budget and actuals

10. System Automation
• Develop SAP-based Budget vs. Actual reports
• Implement Dexter cost allocation logic
• Build systems for budget reallocation and control

Knowledge:

1. Educational Qualifications
• Chartered Accountant

2. Experience
• 4–5 years of relevant experience in budgeting and financial planning

Skills:

1. Functional Skills
• SAP Finance & Material Management Module
• Budget preparation and monitoring
• Opex & Capex knowledge, variance analysis

2. Behavioral Skills
• Time management
• Presentation skills
• Creativity and innovation
• Effective communication
• Team collaboration

Experience Level

Mid Level