VP – Corporate Budget Job Description
VP – Corporate Budget Job Profile and Description
Reporting to the CFO, the VP for Corporate Budget is responsible for developing and implementing the system-wide budget plan and ensuring its compliance across all departments and affiliates of a large company. The position oversees a team of budget planners and analysts who aggregate the various departmental and affiliate budgets to ensure they are within the board-approved budget limits. From time to time, the VP – Corporate Budget can approve budget deviations in excess of allowable amounts when sufficiently justified.
VP – Corporate Budget Job Duties and Responsibilities
- Develop the implementing guidelines for the corporate-wide budgeting process from the templated submissions, defense, iteration, approval, and implementation
- Maintain continuing coordination with accounting to ensure that actual expenses are within approved budgets and for non-zero based budget planning purposes.
- Oversee a team of internal auditors to ensure they perform their duties and responsibilities as expected.
- Conduct meetings with department and affiliate heads to ensure compliance with internal controls as required.
- Coordinate with HR in hiring and firing managers and directors in the department.
VP – Corporate Budget Skills and Specification
- Must have excellent organizational, supervisory, leadership and managerial skills
- Must have excellent communication, presentation and negotiation skills.
VP – Corporate Budget Education and Qualification
- A college degree in accounting with CPA accreditation is basic
- An MBM. MBA or masters degree in the management sciences is basic
- At least 16 -20 years of experience in the corporate accounting and finance management with the last 8 years in a corporate budget management position.
VP – Corporate Budget Salary
The average annual salary of a VP for Corporate Budget Management is in line with most finance executive positions and varies depending on the business nature, value of budgets being controlled, state, and holder‘s qualification. In general, a VP in this function can received a high of $200.000 excluding bonuses and perks.