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What is the role of a strategy & business planning officer?

​By Mansour Baker, SHRM-CP

Posted  12 July 2020

​The Strategy & Business Planning Officer is responsible for leading the Strategy & Business Planning, coordinating the annual strategy review, all business planning activities, operating budget activities and annual performance planning & KPI setting activities.

Exhibit 1

Described below is the Functional Statement for the Strategy & Business Planning Team. 

Key Accountabilities 

1. Annual Strategy Review

• Facilitates the annual review of company’s vision, mission, and strategy by formulating & updating the strategic priorities for the year considering the current business & market situation and the overall company strategic objectives
• Coordinates & reviews the annual strategy update with the Board and communicates the outcome with Senior Management team
• Reviews, validates, and communicates the assessment of the impact of business strategies

2. Business Planning

• Reviews, approves, and issues guidelines for business planning activities
• Reviews business planning activities from the entire company and assesses their alignment with strategic priorities
• Reviews and validates the evaluation of cash flow implications
• Formulates recommendations for which activities should be approved for presentation to the Board
• Coordinates with the CEO, the relevant committee, and the Board to get necessary approvals
• Communicates the approved plan to relevant people in the company, ensuring that the annual budget process is adhered to

3. Annual Budget

• Directs, oversees, and controls the execution of company’s annual budget planning process, consolidates departments’ budgets, presents, and defends final annual budget plan to the Board for review and approval.
• Coordinates the development & review of the financial planning cycle
• Reviews and validates the evaluation of cash flow requirements
• Formulates recommendations for which activities should be approved & summarizes budgetary implications for presentation to the Board
• Coordinates with the CEO, the relevant committee, and the Board to get necessary approvals
• Communicates the approved plan the company leadership team

4. Performance Planning and KPI Setting

• Formulates and agrees appropriate KPIs for the company
• Reviews & validates the scoring (ranking) for KPIs and the balanced scorecards as prepared by the team
• Communicates the scoring (ranking) for KPIs and the balanced scorecards to the Board and company
• Reviews, validates, and communicates all the necessary management reports produced by the Strategy and Business Planning Team

Organizational Relationships

1. Receives direction on matters of company policy and strategic objectives from CEO & the Board
2. Keeps the CEO and members of the relevant committee informed as to his functional activities
3. Makes recommendations to the Board as regards to updated strategic priorities for the year and business activities that should be supported
4. Communicates budgetary & cash flow implications of recommendations to the Board

Independence of Operations and Decision-making Authority

1. Works independently guided by functional and company strategic objectives
2. Conducts independently all Strategy and Business Planning activities, provides priorities and expertise in Strategy to achieve company’s objectives
3. Sets business directions and working methods within his/her Team in accordance with established company policies
4. Judges current working methods and is free to initiate new approaches in which company’s objectives and practices are continuously improved
5. Advises the CEO and the relevant committee on major strategic issues or opportunities

Qualifications

• Undergraduate Degree in Business/Finance/Engineering/Science, and MBA from a globally recognized Business School or University
• Extensive experience in Strategy & Corporate Finance in the relevant industry
• Minimum 20 years’ experience with a successful track record in a similar position in a best in class peer group company, or a leading strategy consultancy 
• Excellent knowledge and experience of long-term strategic planning, budgetary planning & control
• Strong drive for results, able to communicate effectively with leaders

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