Accounting Specialist

Fanshawe Toronto@ILAC•London, ON

9d•Hybrid

About The Position

Payment Services plays a vital role within Fanshawe College’s Finance team, supporting the effective, accurate, and secure processing of both payments and cash receipts across the institution. The team ensures that vendors, customers and employees are transacted with in accordance with established policies, regulatory requirements, and financial controls—enabling the College to operate smoothly and responsibly. As a collaborative and service‑oriented group, Payment Services works closely with departments across the College to provide guidance, resolve inquiries and support financial integrity. By delivering reliable finance operations and continuous improvement, the team helps safeguard public funds, strengthen stakeholder relationships, and contribute to the overall financial health and mission of the College. Under the supervision of the Manager, Finance Operations, the Accounting Specialist will be responsible for payment settlement processes and performing independent compliance reviews of payments, deposits/receivable transactions and reconciliation of related general ledger accounts. The role supports the integrity of financial operations through internal control review, tax reporting, reconciliation activities, and administration of the Purchasing Card program (P-Card), ensuring transactions are processed in accordance with college policy, accounting standards, and regulatory requirements.

Requirements

3-year diploma or degree in Accounting, Finance, or related field
Must be enrolled in an accredited introductory‑level accounting program and progressing toward a professional accounting designation (e.g., CPA)
Minimum 3 years’ experience in accounts payable and receivable processes, including reconciliation of sub-ledgers and general ledger accounts
Proven ability to review and analyze financial transactions for compliance with policies, delegated authorities, and accounting standards
Familiarity with banking processes, including electronic payments, Positive Pay, and cheque/wire administration
Experience in preparing journal entries, reconciliations, and year-end working papers in accordance with Generally Accepted Accounting Principles (GAAP) or Public Sector Accounting Standards (PSAS)
Experience with Enterprise Resource Planning (ERP) systems (preferably Workday)
Strong background in internal control review, audit working paper preparation, or financial compliance within a complex or public sector organization
Demonstrated ability to interpret and apply financial policies, identify process risks, and recommend improvements
Proven collaboration and communication skills for working with cross-functional teams and external auditors

Nice To Haves

Experience with commodity tax (HST/GST) and T4A reporting is an asset

Responsibilities

Perform independent system routed review of payment transactions processed by accounting clerks
Approve deposits or withdrawals for cash/cheque/EFT/wire, POS sale, card/online payments, refund or chargeback
Identify trends, control gaps or recurring errors and recommend corrective actions
Escalate high-risk or non-compliant transactions to the Manager
Ensure transactions comply with college policy, accounting standards, and regulatory requirements
Initiate settlement runs in Workday and Colleague to meet cash requirements, College and departmental deadlines & payee/supplier payment terms
Monitor and resolve rejected or returned payments
Respond to positive pay exceptions and banking correspondence
Coordinate stale-dated cheque review and issuance
Provides support to the Manager and submits recommendations for improving Payment Services related accounting processes
Prepares commodity tax returns and act as a tax resource for department under the direction of the Manager
Prepare and review T4A analyses; make corrections to the T4A file throughout the year
Reconciles Finance Operations general ledger, subledger, clearing and suspense accounts
Prepares corrective journal entries while monitoring adherence to GAAP (Generally Accepted Accounting Principle) and PSAS (Public Sector Accounting Standards)
Prepares monthly/quarterly journals
Prepares year-end working papers with appropriate backup and assist with audit inquires
Administers the College’s P-Card program, including creating new cards, cancelling cards, and updating user limits or information
Assesses user compliance with the P-Card policy and follow up on exceptions
Other duties as assigned

Benefits

Comprehensive Pension & Benefits
Defined-benefit pension plan (through the CAAT Pension Plan) that delivers predictable lifetime retirement income
Dental coverage
Disability coverage
Travel insurance
Extended health coverage
Paid time off
Scheduled holiday closure that offers additional rest and time with family during the winter season
Tuition & Professional Development (eligible employees and their dependents can take select Fanshawe programs or courses at a reduced cost)
Inclusive, Meaningful Campus environment
Competitive compensation
Comprehensive Benefits Package
Defined benefit pension plan
Generous vacation and holiday entitlements (Full-time employees start at a minimum of 3 weeks of vacation per year in addition to our paid college closure from Dec. 25 – Jan. 1)
Prepaid leave/salary deferral plan
Subsidized maternity and parental leave
Family tuition program
Flexible work policy
Employee and Family Assistance Program
Corporate Discounts through CAUBO
Professional development and training opportunities
Tuition reimbursement and subsidy programs
Professional development leave
Fanshawelearns
LinkedIn Learning
Lifetime retirement pension