Financial Coordinator

Term: ~1.5 Years / 20 months

The Financial Coordinator (Coordinator) is responsible for all research and administrative activities of an assigned group of faculty members and research groups in the Department of Mechanical & Mechatronics Engineering (MME). They are the key point of contact for financial and procurement support. The Coordinator manages the operating and research accounting of assigned faculty members and groups, ensures 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 of external research funding. 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 understands the constraints of specific granting programs, and forecasts and recommends strategies to maximize the use and leverage of the research funding.

This position reports to the Financial Officer. The Coordinator also supports the Financial Officer in managing the School’s operating budget and ensures compliance with financial management policies necessary to ensure effective and efficient operations.

Responsibilities

Research Financial Administration and Compliance

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

Financial Administration

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

Human Resources Administration

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

Other

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

Qualifications

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

Equity Statement

The University of Waterloo acknowledges that much of our work takes place on the traditional territory of the Neutral, Anishinaabeg and Haudenosaunee peoples. Our main campus is situated on the Haldimand Tract, the land granted to the Six Nations that includes six miles on each side of the Grand River. Our active work toward reconciliation takes place across our campuses through research, learning, teaching, and community building, and is co-ordinated within the Office of Indigenous Relations.

The University values the diverse and intersectional identities of its students, faculty, and staff. The University regards equity and diversity as an integral part of academic excellence and is committed to accessibility for all employees. The University of Waterloo seeks applicants who embrace our values of equity, anti-racism and inclusion. As such, we encourage applications from candidates who have been historically disadvantaged and marginalized, including applicants who identify as First Nations, Métis and/or Inuk (Inuit), Black, racialized, a person with a disability, women and/or 2SLGBTQ+.

All qualified candidates are encouraged to apply; however, Canadians and permanent residents will be given priority.

The University of Waterloo is committed to accessibility for persons with disabilities. If you have any application, interview, or workplace accommodation requests, please contact Human Resources at or, ext. 45935.

Full-Time