Financial Coordinator

  • Company:
    University of Waterloo
  • Location:
  • Salary:
    negotiable / month
  • Job type:
    Full-Time
  • Posted:
    17 hours ago
  • Category:
    Business / Mgmt

Term: 14 monthsThe Financial Coordinator (FC) oversees post-award administration for all Faculty research grants and assists the Administrative Officer with operating financial activities in Systems Design Engineering. This role is the key point of contact for financial and procurement support. The FC manages the operating and research accounting of all faculty members; responsible for the review of research grant transactions before they are approved and processed to ensure compliance with University and granting agency financial policies and procedures; provides guidance; and reporting, to reduce the liability to the department and University by proactive financial management. The grants/contracts can include but are not limited to any federal, provincial, institutional, corporation/business, association/society, foundation, or any other agency/organization. The incumbent will assist the Faculty (PI) to understand the constraints of specific granting programs; forecast and recommend strategies to maximize the use and leverage of the research funding.Research Financial Administrative ComplianceResponsible for the financial administration of all operating and research grants/contracts for faculty members in accordance with relevant university policies, granting agency guidelines, and negotiated sponsor agreementsDelegating signing authority up to $20,000.00 on assigned accountsProvide advice to Principal Investigators (PI) concerning University and/or granting agency’s policies and procedures (e.g. eligibility of expenses, preparation of forms) and comprehension of financial reportsProvide guidance to faculty members on University financial rules and policiesEnsure researchers and relevant research personnel are compliant with UW research finance policies and procedures, including external granting agenciesMonitor, review and reconcile accounts monthly, and advise PIs of discrepanciesReview expenses for approval and ensure budget allocations are appropriate and adequateConfirm eligibility of expenditures against agency guidelines and University policies and proceduresAssist with the procurement of research goods and services to ensure compliance with Procurement policies and procedures including determination of independent contractor statusMonitor spending levels on research project grants and provide PIs with budget and financial information enabling them to manage their accountsEnsure funds have been collected or returned, overspent balances have been transferred and grants/contracts have been inactivatedIdentify overspends and work with the PI to resolve through re-allocation of expensesMake recommendations to respective faculty members, the Administrative Officer and Office of Research regarding deficit resolution strategiesPrepares custom financial reports based on researcher needs and interprets financial data to answer queries from PIs, identifying potential issues and anomaliesResponsible for financial reporting as required including data analysis and create detailed and summary reports as appropriate to the funding agency, industry contract or auditorsReview purchase of equipment and supplies for research groups, including the sourcing and procurement of major equipment and is compliant with Policy 17Forward financial reports e.g. form 300’s received from Office of Research to PIs and obtains approval signatures by stipulated deadline dateFinancial AdministrationReview and process out-of-pocket expense and faculty professional expense reimbursement claims in financial system (Concur)Assist Faculty with understanding various financial reports, financial policies/procedures, financial terminology, and standard accounting practicesAdvise on budget and cost-recovery requirementsProcess all financial transactions including purchasing payables, and invoicing both internal and externalCreate and review journal entry transactions, including interdepartmental billings and ensure transaction is in compliance with the University’s policies on fund transfers, applicable tax rules and expense transfer approvalsReconcile general ledger accounts including accounts receivable, advances, etc. as assignedAnalyze details of budget, actual expenditures, encumbrances, and prepare reports as requiredProvide guidance to others on the use of financial systems including procurement (Unit4) and expense claims (Concur)Assist students (Undergraduate and Graduate) with the preparation of Expense Claims for travel and out-of-pocket expensesUpdate, maintain and verify information in a variety of spreadsheets and databasesHuman Resources AdministrationReview research funding (105) requests for non-faculty appointments (post-doctoral fellows, research associates, etc.) and ensure sufficient funds are available and eligibility is being metEnsure that contract end dates do not exceed the grant end date and prepare revised salary allocation forms as requiredReview Graduate Research Studentship and Graduate Research Assistants payment for available research fundsPrepare and coordinate payroll for Research Staff, Casual Employees and ensure sufficient funds are available and eligibility is being met before processing; including change of salary allocationsLiaise between PIs, the department and Human Resources on issues relating to research staff personnelOtherAct as backup to the Administrative Officer during absences or as requiredStay current on changes in granting agency regulations, University policies and procedures, research administration best practices, and new technology or programsAttend all training on new systems and procedures, and meetings as requiredAssist with internal and external audits as requiredSpecial projects analysis, reporting, or other duties as assigned by the Chair or Administrative Officer as required to meet the research goals and strategic objectives of the departmentUniversity degree in accounting, post-secondary accounting diploma, or equivalent combination of education and experience3 years of financial experience including financial monitoring and analysis, preferably in a university environmentResearch finance experience working with grants/contract administration an assetExperience in financial reporting, internal control, financial analysis, budgeting, forecasting and accounting preferredExperience with reconciliation, troubleshooting and resolving variances, and reporting on the sameStrong computer skills with advanced experience with MS Excel including pivot tables, look-ups, macros, scenario analysis, etc. is an assetExperience using University internal systems (Concur, Unit4, Workday) are assetsExperience with online financial reimbursement and procurement systems, and databasesWorking knowledge of online human resource management and payroll systems desirableSound knowledge of accounting principles and financial judgementStrong decision-making and critical thinking skillsDemonstrated ability to interpret policies, financial statements and apply guidelines and proceduresDemonstrated problem-solving skills with the ability to identify issues; investigate and seek creative solutionsAbility to analyze financial data and present it in an appropriate formatStrong client-service orientation with a focus on providing exceptional customer service in a team environmentExcellent interpersonal skills and ability to interact professionally and effectively with diverse constituencies of the university and external partnersStrong verbal and written communication skills are essentialExcellent organizational and time-management skillsAbility to work accurately, efficiently and effectively both independently and as part of a teamAbility to manage multiple demands with excellent attention to detailDemonstrated ability to handle confidential information with discretion and tactAbility to adapt to changing administrative and financial systems