Research Financial Analyst - Greater Sudbury, Canada - Northern Ontario School of Medicine

Northern Ontario School of Medicine

Verified Company

Greater Sudbury, Canada

1 week ago

Posted by:

Sophia Lee

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Description

The Research Financial Analyst provides financial administrative support to NOSM University's research services.

These responsibilities include the oversight and analysis of research accounts, preparation of financial reports, management of the relationship between and requirements of internal and external stakeholders and ensuring adherence to financial requirements/guidelines specified by research sponsors and to the NOSM University policies.

This position will report jointly to the Director of Finance and to the Director, Research, Innovation and International Relations.

This position is covered by the Terms and Conditions of the OPSEU Unit 677 Collective Agreement (Unit 2). A copy is available on the NOSM University website.

Responsibilities:

Tasks include but are not limited to the following:

Manage and Foster Relationships with Internal and External Stakeholders:
Key point of contact between researchers and research administrators for financial advice, guidance and queries pertaining to research accounts
Communicate regularly and proactively with researchers to discuss progress on their accounts
Provide advice and assistance to researchers on sponsor guidelines or university policy as it pertains to their research finances
Communicate with external research sponsors regarding interpretation of guidelines or reporting requirements and resolution of specific project needs/concerns/issues
Liaise with pre

- and post-awards colleagues regarding clarifications or amendments to research proposals and agreements/contracts

Liaise with units to ensure appropriate management of research funds.
Financial Administration and Management of Research Accounts:
Performs routine to complex financial and accounting duties, including creation of financial transactions, and overseeing account management for research projects
Adheres to compliance and financial reporting requirements
Set up new accounts including budget, overhead and encumbrance journal entries in accordance with the specific requirements of the award agreement
Notify the researchers of key financial reporting requirements/dates and the sponsor guidelines of the research project
Ensure that all reporting requirements are met, that all funds have been received and that accounts are appropriately closed
Prepare invoice requests in accordance with invoicing schedules in the award agreement and liaise with Accounts Receivable regarding outstanding invoices to ensure that, if payment may be an issue, appropriate action can be taken
Prepare financial reporting as stipulated by the sponsor and collate appropriate supporting documentation to accompany reports
Liaise with representatives of funding and collaborating institutions to ensure that all data/reporting/supporting documentation for a specific project is received on a timely basis
Maintain accurate, well organized financial project files and ensures accuracy and integrity of related data within the financial system
Analysis of research accounts to assist researchers in efficiently managing and in appropriately spending their research funds, including conducting budget variance analysis to identify areas of concern, and recommending appropriate action
Monitor accounts that are coming close to their end date to ensure that all funds will be spent appropriately by the end date or that an extension request is submitted
Provide advice to researchers for resolving surplus or deficit account balances
Prepare journal entries to close out accounts ensuring that appropriate researcher authorization and supporting documentation is retained according to record retention guidelines
Facilitation of audits on research accounts, including preparation, reconciliation, and provision of all required documentation for auditors
Key point of contact with sponsor, NOSM University or collaborating institution auditors during the audits of research accounts
Assists in drafting, revising, and maintaining related research policies and research standard operating procedures
Performs all other duties as assigned.

Qualifications:

Education:

University undergraduate degree preferably in Accounting, Business Administration or Finance from a recognized university with Canadian accreditation or an equivalent combination of education and experience is required.
Professional accounting designation (CPA, CA, CMA, CGA) is required.

Knowledge, Skills and Abilities:

Minimum of three (3) years of related experience is required.
Knowledge of the academic research environment
Experience in postsecondary research administration
Knowledge of university administration policies and procedures
Generally Accepted Accounting Principles (GAAP) and Auditing Principles
Experience in financial reporting, account reconciliation and financial analysis
Working knowledge of auditing practices and procedures is an asset
Knowledge of the various sources of research fundi