Financial Analyst - Hamilton, Canada - Mohawk College

Mohawk College

Verified Company

Hamilton, Canada

3 weeks ago

Posted by:

Sophia Lee

beBee Recruiter

Description

Financial Analyst Status**:
Full Time

Hours:
Monday - Friday, 35 hours/week

Home Campus:
Fennell

Payband: 10

Rate of Pay:
$78,295 - $97,869

Posting Date:
June 26th, 2023

Closing Date:
July 7th, 2023 at 7:00 pm EST

We support and encourage the contributions of our diverse employees.

We are committed to nurturing an equitable, diverse and inclusive (EDI) environment for everyone who learns and works at Mohawk College.

We believe the rich diversity among our students and the communities we serve should be reflected within our workforce.

As educators we believe it is important to act and show leadership in advancing the principles of equity, diversity and inclusion in our community.

Mohawk College is currently recruiting for our next

Financial Analyst
Reporting to the Controller, the incumbent provides essential financial management services and technical expertise.

More specifically, the incumbent is responsible for:

Forecasting and managing the College's operating and trust funds cash flow requirements and initiate investments in or withdrawals from various invested funds
Researching the appropriate accounting treatment for complex business transactions with third parties and new College initiatives
Performing financial analyses and reporting on Collegewide special program/project initiatives, and other specific areas as assigned by the Controller
Financial analysis and reporting of ongoing new initiatives and opportunities as well as the financial reporting and audit of the Mohawk College Foundation

Responsibilities:

The duties of this position include, but are not limited to:

Cash flow forecasting and investment monitoring
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Researches and forecasts the College's cash flow requirements for the upcoming fiscal year for the general fund and endowment funds.

Invests surplus funds to earn interest income and withdraws funds from investment accounts to meet operating needs.
Analyses and investigates discrepancies between forecasted and actual cash flows.
Researches and assesses the reasons for increases and decreases of cash flows from both the previous month and the previous year.
Allocates interest income from various investment sources to appropriate College general ledger accounts.
Monitors the College's bank accounts to ensure desired operating levels.
Monitors the College's investments to ensure that compliance with College and Ministry policies.
Analyses and researches economic and market conditions and trends to produce budgets and forecasts of investment income.
Meets periodically with the outside investment managers to discuss investment performance, the market, and future trends.

Financial Oversight of Mohawk College Foundation
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Ensures monthly journal entries are properly recorded in the general ledger.

Prepares financial statement reporting packages for presentation at Board meetings. Including detailed analysis on results year over year and budget to actual.
Prepares pledge reports.
Reconciles balance sheet accounts associated with the Foundation.
Prepares yearend financial statements and associated working papers and is the main point of contact with the auditors.
Assists Foundation staff in budget preparation, budget analysis and, budget versus actual discrepancy reporting.
Leads Foundation staff in determining budget requirements, where information may be used in business plans and project proposals for review by senior management and external bodies.
Documents all financial processes and policies for the Foundation and ensures they are kept current.
Reviews the quarterly financial reports from the Raiser's Edge fundraising tracking system and ensures reconciliation with the college's financial records.
Coordinates and quality assures interim and yearend reconciliations of fundraising activities and the Foundation activities.
Ensures internal controls are in place for the safeguarding and issuance of charitable tax receipts.
Advises the college community on Canada Revenue Agency (CRA) rules for the issuance of charitable tax receipts.
Reviews partnership project proposals with a donation component and ensures compliance with CRA rules and proper reporting with the partner.
Proposes changes to college's policy and procedure manual on donations and fundraising for external legislation changes and internal control and/or procedure changes.
Monitors the college's donations and awards to ensure compliance with college and Ministry policies.
Determines allowable student award spending levels and provides budget allocations.

Financial analyses and reporting
-
Prepares the annual charitable information returns for submission to the CRA.

Researches and recommends the appropriate accounting treatment for complex business transactions with third parties and new College initiatives.
Coordinates and quality assures interim and yearend financial reports fo