Financial Coordinator
University of Waterloo
- Waterloo, ON
- $54,119-67,649 per year
- Temporary
- Full-time
- Responsible for the financial administration of all operating and research grants/contracts for assigned faculty members in accordance with relevant university policies, granting agency guidelines, and negotiated sponsor agreements
- Delegated signing authority up to $20,000.00 on assigned accounts
- Provide advice to Principal Investigators (PIs) concerning University and/or granting agency’s policies and procedures (e.g. eligibility of expenses, preparation of forms) and comprehension of financial reports
- Provide guidance to faculty members on University financial rules and policies including overhead allocation, release time stipend allocation, etc.
- Ensure researchers and relevant research personnel are complaint with UW research finance policies and procedures, and those set forth by external granting agencies
- Monitor, review and reconcile accounts monthly, and advise PIs of discrepancies
- Review expenses and ensure budget allocations are appropriate and adequate
- Confirm eligibility of expenditures against agency guidelines and University policies and procedures
- Assist with the procurement of research goods and services to ensure compliance with Procurement policies and procedures including determination of independent contractor status
- Monitor spending levels on research project grants and provide PIs with budget and financial information enabling them to manage their accounts
- Ensure funds have been collected or returned, overspent balances have been transferred and grants/contracts have been inactivated
- Identify overspends and work with the PI to resolve through re-allocation of expenses
- Make recommendations to respective faculty members, the Financial Officer and Office of Research regarding deficit resolution strategies
- Prepares custom financial reports based on researcher needs and interprets financial data to answer queries from PIs, identifying potential issues and anomalies
- Answers non-routine and complex inquiries that are specific in nature and require specialized knowledge of policies and procedures, and may require follow-up with granting agencies
- Responsible for financial reporting as required including data analysis and create detailed and summary reports as appropriate to the funding agency, industry contract or auditors
- Review purchase of equipment and supplies for research groups, including the sourcing and procurement of major equipment and is compliant with Policy 17
- Responsible for fixed asset inventory of all research equipment and furniture purchases and asset disposals associated with all research activities of assigned faculty and research groups
- Forwards financial reports e.g. form 300’s received from Office of Research to PIs and obtains approval signatures by stipulated deadline date
- Assists the Principal Investigator in the preparation of research budgets for major contracts and research grants
- Work with assigned principal investigators and research personnel on the preparation of research proposals including budget review
- Review and process out-of-pocket expense and faculty professional expense reimbursement claims in financial system
- Assist client groups with understanding various financial reports, financial policies/procedures, financial terminology, and standard accounting practices
- Advise on budget and cost-recovery requirements
- Prepare internal lab billings ensuring compliance with internal policies, external funding agency requirements, and accounting standards
- Process all financial transactions including purchasing payables, and invoicing both internal and external
- Create 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 approvals
- Reconcile general ledger accounts including accounts receivable, advances, etc. as assigned
- Analyze details of budget, actual expenditures, encumbrances, and prepare variance analysis reports
- Provide guidance to others on the use of financial systems including procurement and Concur
- Update, maintain and verify information in a variety of spreadsheets and databases
- Review requests for non-faculty appointments (post-doctoral fellows, research associates), temporary employment authorizations, casual payments, and change of salary allocations for eligibility and available funds
- Ensure that contract end dates do not exceed the grant end date and prepare revised salary allocation forms as required
- Review Graduate Research Studentship and Graduate Research Assistants payments for available funds
- Coordinate payroll for research staff and ensure sufficient funds are available before processing
- Prepare supporting documentation for non-faculty appointments and coordinate hiring documentation for research staff
- Liaise between PIs, the department and Human Resources on issues relating to research staff personnel
- Update hiring for URA and URSA appointments
- Act as backup to other Financial Coordinators during absences or as required
- Stay current on changes in granting agency regulations, University policies and procedures, research administration best practices, and new technology or programs
- Attend all training on new systems and procedures, and meetings as required
- Assist with internal and external audits as required
- Special projects analysis, reporting, or other duties as assigned by the Financial Officer or Administrative Officer as required to meet the research goals and strategic objectives of the department
- University degree in accounting, post-secondary accounting diploma, or equivalent combination of education and experience
- Working towards CPA designation is an asset
- 3 years related accounting experience including financial monitoring and analysis, preferably in a university environment
- Research finance experience working with grants/contract administration an asset
- An understanding of the academic environment, in particular research environment is preferred
- Experience in financial reporting, internal control, financial analysis, budgeting, forecasting and accounting
- Experience with reconciliation, troubleshooting and resolving variances, and reporting on the same
- Strong computer skills with advanced experience with MS Excel including pivot tables, Vlook-ups, macros, scenario analysis, etc.
- Previous experience in an enterprise wide computerized accounting environment. Experience using University internal systems (Concur, Unit4, Workday, SharePoint, Power BI) are assets
- Experience with online financial reimbursement and procurement systems, and databases
- Working knowledge of online human resource management and payroll systems desirable
- Knowledge of federal and provincial funding sources and related guidelines for institutional awards preferred
- Sound knowledge of accounting principles and financial acumen
- Strong decision- making and critical thinking skills, and maturity of judgment
- Demonstrated ability to interpret policies, financial statements and apply guidelines and procedures
- Demonstrated problem-solving skills with the ability to identify issues; investigate and seek creative solutions
- Ability to analyze financial data and present it in an appropriate format
- Strong client-service orientation with a focus on providing exceptional customer service in a team environment
- Excellent interpersonal skills and ability to interact professionally and effectively with diverse constituencies of the university and external partners
- Strong verbal and written communication skills are essential
- Excellent organizational and time-management skills
- Ability to work accurately, efficiently and effectively both independently and as part of a team
- Ability to manage a high volume of work, multiple demands with excellent attention to detail
- Flexibility and initiative is necessary to work in a dynamic and challenging work environment
- Demonstrated ability to handle confidential information with discretion and tact
- Ability to adapt to changing administrative and financial systems