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 day-to-day financial administration and supports senior departmental management through the provision of financial reports and analysis as required.

The Financial Officer also provides direct support to faculty members to assist with the management of financial components of research activity.

The Financial Officer is responsible for ensuring timely processing, accuracy, and integrity of the department's financial transactions, and ensures there is adherence with UW and Faculty financial policies, guidelines, and internal control requirements.

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

Responsibilities:

Budgeting, Reporting and Financial Planning:

Prepares reports and analyses in support of the annual operating budget submission, as directed by the Administrative Officer and Department Chair;
Supports coordination of the annual departmental budgeting process;
Provides confidential advice and strategies relating to financial and budget sensitive activities;
Supports Administrative Officer with carryforward budget analysis and allocation;
Provides financial analysis in support of current and long term projects;
Identifies financial consequences of longterm plans, proposals, or changes to enrollment patterns to facilitate effective strategic decision making;
Prepares financial documentation to aid decision making (e.g., budget allocations for various departmental initiatives, teaching resource summaries);
Reviews and advises on agreements and memoranda of understanding for relationships with internal and external agencies/institutes regarding management and internal control of research funds;

Financial Management and Administration

Responsible for reimbursement requests and faculty professional expense reimbursement claims to ensure accuracy, compliance and eligibility;
Monitors research accounts and report potential liability of research accounts in deficit;
Responsible for departmental research compliance review;
Provides expert guidance and assistance to researchers and research staff regarding sponsor guidelines and UW policies relevant to their grants and contracts;
Works closely with the Engineering Research Office and the UW Office of Research to ensure grant proposals are accurate, complete, and submitted by the deadline;
Manages the internal control of research grants and ensure research activity is in compliance with university policies and procedures as well as those imposed externally by granting agencies;
Identifies and address issues concerning compliance with sponsor agreements;
Provides financial oversight for CRC and IRC accounts, including financial risk assessment to ensure spending is aligned with the budgets;
Reviews hiring documentation relating to the payment of faculty, staff, parttime/casual staff, teaching/research assistants;
Handles new user requests for procurement and invoicing purposes;
Processes departmental payroll executed through Workday for casual staff, coop students, short term staff hires, honorariums and other onetime payments as required;
Reviews expenses to ensure compliance with university policies and procedures, including those imposed externally by donors and granting agencies;
Liaises with other units where interdisciplinary or institutional activity are being performed;
Assists with the management of CEE's trust and endowment funds;
Signing authority up to $10,000 on all operating, trust, and endowment accounts within the department;
Supports effective financial planning, management and internal control and best practices for cost recovery labs;
Collaborates with the Office of Research to ensure faculty reporting requirements are met;
Executes departmental purchasing as required;
Prepares and process all external invoices for the department;

Consultation:

Provides financial leadership and direction to CEE faculty and staff to ensure compliance and best practices;
Assists researchers with management of their research accounts and provide necessary direction and information as required;
Provides guidance on scholarships, research chair agreements, etc.;
Provides direction to cost recovery labs on establishing financial structures compliant with finance requirements and University policies, guidelines and procedures;
Provides accounting advice and support to individual researchers and research groups regarding management and internal controls of research funds

Training Development and Administrative Support:

Supports activities of the senior staff operations committee with respect to strategic planning, and issues resolution as needed;
Acts as backup to Administrative Officer with regard to financial matters;
Assists with implementation of new financial initiatives within the department and provides suggestions on process and organizational improvements;
Participates in ad hoc financial projects as r