A Budget Analyst, or Cost Analyst, analyzes a company’s budget and looks for ways to allocate resources more efficiently to maximize profits. Their duties include organizing finances, preparing budget reports, monitoring institutional spending and creating cost-benefit analyses for businesses with the goal of finding ways to run the company efficiently and effectively.
A Budget Analyst should be able to fulfill various duties and responsibilities. The following are some duties and responsibilities a Budget Analyst should be able to execute:
- Developing organizational budget with managers
- Reviewing proposals for completeness, accuracy and compliance with company standards
- Consolidating the organizational budget for review
- Vetting funding requests for merit and authenticity
- Monitoring spending and keeping the organization within its set budget
- Defending budget recommendations with data and evidence-based analyses
A competitive Budget Analyst will have certain skills and qualifications, including:
- Highly developed analytical skills
- The ability to analyze and solve problems while being able to clearly articulate complex ideas
- Work with and understand spreadsheets, financial analysis programs and database functions
