Financial Officer - Waterloo, Canada - University of Waterloo

University of Waterloo

Verified Company

Waterloo, Canada

2 weeks ago

Posted by:

Sophia Lee

beBee Recruiter

Description

Overview:

The Financial Officer is responsible for the day-to-day administration of financial matters and for the provision of financial reports and analyses that support the effective and efficient management of departmental finances.

This includes all operating, research, trust and endowment accounts.

The Financial Officer provides accurate and up-to-date financial information and advice in support of the department's strategic planning and resource allocation decisions and is responsible for the financial processes within the department.

Responsibilities:

Financial Management & Analysis

Responsible for financial management, analysis and reporting for the department's operating, trust, endowment, and research funds
Review expenditures to ensure accuracy, compliance and eligibility with university, and funding agency policies
Review departmental personal expense and Faculty Professional Expense (FPER) reimbursements claims
Process payroll expenses related to operating, trust, and research accounts, which include, but is not limited to parttime/casual staff, parttime faculty, and teaching and research assistants
Oversee departmental purchasing/shipping and order tracking made by faculty, adjuncts, staff, and students using department funds for operational, teaching and research purposes. Establish and oversee operational practices to ensure that all purchases have been received in good order and returned to the appropriate vendors when required
Manage the financial elements of departmental relationships with both internal and external Centres and Institutes. Oversee and/or execute resulting financial transactions as required including, but not limited to, invoicing the Centres and Institutes
Responsible for processing and tracking departmental internal charge outs
Improve existing and develop internal control procedures to support departmental adherence to relevant University and funding agency policy requirements and maintenance of a strong internal control environment in consultation with the Director, Faculty Financial Operations
Develop and maintain procedures to support sound financial monitoring of income and expenses on all accounts under the Department's responsibility
Reconcile monthly financial results and initiate correcting journal entries, as required
Manage and support departmental participation in any financial audits

Strategic Planning and Budgeting

Coordinate and organize call for proposals during the annual operating budget preparation
Prepare final submission in consultation with the Chair and the Administrative Officer
Prepare reports and analyses in support of the annual operating budget submission, as directed by the Administrative Officer and Chair
Provide ad hoc analysis and reporting as required by the Administrative Officer and Chair in support of department planning and management activity
Conduct short

- and long-term financial planning to project and ensure fiscal sustainability

Identify financial opportunities and consequences of longterm plans and proposals to facilitate effective strategic decisionmaking
Report monthly to the Administrative Officer on the financial status of all operating and research budgets identifying potential issues and suggesting resolutions

Operational Management Support

Assist with the identification, development, and implementation of financial projects to improve service quality, operational efficiency, stakeholder satisfaction, and timeliness
Identify and promote the sharing of financial and administrative best practices internally and with external department stakeholders
Train faculty, adjuncts, staff, research personnel and students on financial and budgetary procedures, ensuring that transactions and reporting adhere to UW policies and are executed efficiently
Develop and maintain financial and relevant administrative procedure documentation
Gather, update, and maintain financial and administrative data and prepare useful management reports to support decision making and efficient transaction processing
Build connections and maintain productive, collaborative relationships between the faculty and staff, Dean of Science Office, Waterloo Centre for Astrophysics, Perimeter Institute, Institute for Quantum Computing, Finance Office, Office of Research, and other Central Support units across campus on matters related to financial administration

Faculty Statistics and Research Reporting

Liaise with faculty researchers on financial matters relating to research accounts
Provide advice and consultation to all faculty members on the operation and control of individual grants and contracts, consistent with university policies, procedures and research sponsor requirements
Conduct monthly monitoring of research accounts and identifies to the PI and departmental management potential issues including, but not limited to accounts in deficit and Interim Research Account exposure
Work in c