Budget Monitoring Officer

Job Summary

The Budget Monitoring Officer will be responsible for overseeing and monitoring the company’s expenditures to ensure they align with the company’s budget guidelines. This role includes analyzing budget performance, identifying variances, providing recommendations for financial efficiency, and ensuring compliance with the company’s standard policies and procedures. This position requires a high level of accuracy and attention to details and the ability to work under pressure while managing multiple priorities.

Job Details

Budget Monitoring

Track and Monitor Budget Utilization across all departments.
Prepare variance reports on actual and budgeted expenditures.
Preparation of Branch Profitability Report.
Provide recommendations to management to address budget deviations.
Ensure adherence to AIICO Insurance budget policies and procedures.
Follow up on transactions to ensure payments are disbursed when queries are made.
Prepare payment schedule to disbursement unit.
Properly assessing support documents.
Ensure treatment of requisition in due time.
Aligning of quote approvals.
Ensuring appropriate approvals are gotten for all purchase requisitions.
Ensuring all requisitions are aligned to appropriate codes.

Process Improvement and Automation

Identify areas for process improvement on the expense and budget monitoring software to ensure complete and accurate reporting.
Identify and recommend general improvements to budgeting processes.

Collaboration and Reporting

Provide support to the team on overhead and budget related matters.
Execution of any other Ad hoc task assigned.

Requirements

Bachelor's degree in any Management Science Courses.
Any finance related qualification (ICAN or ACCA) will be an added advantage.
2- 3 years of relevant experience in a budget monitoring role.
Experience in the preparation of overhead analysis reports.
Experience in budget monitoring processes and tracking expenditures.
Proficiency in Microsoft office tools such as MS excel, MS power point, etc.

Benefits

Thrive Professionally and Personally at AIICO Insurance Plc.

At AIICO Insurance Plc., we believe in fostering an environment where individuals excel, both personally and professionally. We offer a comprehensive employee value proposition designed to empower you, support your well-being, and fuel your career aspirations.

We offer:

Stress-Free Work-Life: Hybrid work schedules, competitive leave, and reliable transportation.

Holistic Wellbeing: Health & and wellness programs, and subsidized gym memberships.

Grow with Us: Sponsorship for professional certifications, coaching, learning and development opportunities, and more.

At AIICO, we recognize that our employees are our greatest asset. We are committed to fostering a supportive culture where you feel valued, respected, and empowered to achieve your full potential.

Join us and embark on a rewarding career journey that makes a difference.

About Company

AIICO Insurance Plc

https://aiicoinsuranceplc.seamlesshiring.com

AIICO Insurance Established in 1963, AIICO Insurance Plc (NSE Ticker: “AIICO”) is a financial services group with market-leading positions in its key business lines; Insurance, Health Maintenance and Asset Management. Background AIICO commenced operations in Nigeria in 1963 as an Agency office of American Life Insurance Company (“ALICO”) – at the time, a subsidiary of American International Group (“AIG”). The Company was incorporated, registered and licensed in Nigeria as American Life Insurance Company Limited – as a wholly owned subsidiary of ALICO/AIG – in 1970 – to offer Life and insurance services. The Company was renamed American International Insurance Company Limited (“AIICO”) upon the acquisition of a 60% stake by the Federal Government of Nigeria, and later listed on the Nigerian Stock Exchange in 1990, after which both shareholders – the Federal Government of Nigeria and AIG divested. 1. Life and general insurance are strategic business divisions within AIICO. 2. AIICO Capital Limited – a subsidiary of AIICO providing asset management services for AIICO and 3rd parties. 3. AIICO Multishield Limited – a leading health maintenance organisation. Following the insurance industry's consolidation in 2007, the Company acquired NFI Insurance PLC and Lamda Insurance Company Limited (both cumulatively accounting for less than 30% of AIICO's pre-acquisition gross premiums). The Company subsequently re-certified as both a General Insurance and Life Assurance Company – taking advantage of its legacy, brand, franchise and strong retail distribution network to grow a leading General Insurance business.