Financial Analyst - 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 Analyst - Societies is accountable for the provision of essential financial information and internal controls related to the Societies, Orientation and Student Refugee Program funds.

The incumbent is also responsible for the integrity of financial processes and practices amongst all 10+ Societies to ensure conformity with GAAP (generally accepted accounting principles), and WUSA policies, guidelines and practices.

Accountable to the Financial Officer, the Financial Analyst - Societies also works closely with the Financial Systems Specialist and Accountant.

Responsibilities:

Financial Management and Internal Control

Maintains an overall picture of Society, Orientation and Student Refugee Program financial performance (10+ Societies and ~$1M annual revenues/budgets each)
Provides leadership, coordination and management of Society financial statements, annual budgets, annual yearend reports and financial position
Prepare monthly financial reports for each Society, analyzing results and discussing with Society representatives
Review and monitor inventory tracking and recording systems to ensure accuracy, recommending improvements where appropriate
Ensure complete and accurate records are maintained by monitoring expenditures and commitments against budgets
Identify gaps in internal controls, suggest and implement improvements, and establish new financial structures and processes to ensure that activity is properly managed and reported on, and appropriate stewardship of funds is maintained
Accurate and appropriate assessment and recording of HST and rebates taken
Ensure that all WUSA and Society financial/accounting obligations are completed on schedule and in compliance with the Societies Agreement
Provide oversight and conduct periodic audits on all cash handling and point of sale procedures throughout all Societies to ensure fiscal accountability
Review reimbursement requests to ensure accuracy, compliance, eligibility, appropriate account coding and inclusion of required supporting documentation
Maintain productive working relationships with all WUSA Societies and provide guidance on processes that impact fiscal management, financial compliance and stewardship of assets
Participate in and provide information for annual external audit, working directly with External Auditor as required
Serves as a primary point of contact regarding all Society financial matters and WUSA policies and procedures; anticipates, identifies and resolves discrepancies, communicating as required with all stakeholders

Financial Strategy and Long Term Planning

Maintain an overall picture of each Society's financial performance
In collaboration with the Financial Officer, provide expert information management and financial analysis for Society budgets and accounts in support of current and longrange planning, taking into account implications of commitments such as temporary staff appointments, ongoing nonsalary expenses, and special projects
Facilitate the optimum use of Society funds by preparing regular status reports of financial position, both by identifying opportunities for expense control and reduction, and by identifying anomalies and opportunities to bridge funding gaps
Prepare an annual report for each Society on financial stability, operational issues and compliance with regulatory and audit requirements
Familiarity with Societies constitutions, bylaws and governing documents
Work closely with each individual Society executives to provide guidance in areas of financial matters such as reviewing and monitoring budgets
Communicate accounting information to clients, often with little or no accounting experience, in order to achieve accurate financial accounting and reporting, and resolve issues
Participate in crossfunctional projects providing appropriate accounting, business and technical expertise. This may include policy/procedure development, championing a new program, change management, providing training, etc. May be expected to assume responsibility for specific functional aspects of the project
Demonstrate professional judgment in situations where clear direction is not available and/or interpretation of policies and procedures is required
Ensure frequent and ongoing reconciliation of all accounts for accuracy and completeness

Provide Leadership and Direction

Oversee the daytoday activity and assignments of the team member(s)
Manage the hiring, development and performance of staff and provide strategic direction to the team member(s)
Promote opportunities for training and professional development, through goalsetting and support
Hold employees accountable for performance through informal methods, such as regular feedback and coaching, as well as the formal performance appraisal process

Professional Development