Payments Associate

University of Waterloo•Waterloo, ON

1d•CA$56,494 - CA$70,618

About The Position

The University of Waterloo is seeking a Payments Associate for a temporary, two-year contract. This role is responsible for the accurate and timely processing and recording of non-salary expense payments to suppliers, employees, and students. The Payments Associate will ensure the safeguarding of university assets by adhering to established policies and procedures, reviewing documentation, ensuring compliance, and contributing to continuous improvement and best practices.

Requirements

Post-secondary courses in accounting or equivalent education and experience.
Previous experience in an enterprise-wide computerized accounting environment.
Previous experience in an Accounts Payable role within a Finance/Accounting department.
Experience in applying Accounts Payable processes, procedures, and controls in a workplace setting.
Demonstrated ability to prioritize and manage concurrent deadlines accurately and efficiently.
Excellent attention to detail.
Strong analytical and problem-solving skills.
Excellent interpersonal, written, and verbal communication skills.
Tact, judgment, diplomacy, and ability to handle confidential information.
Demonstrated ability to work independently.
Advanced MS Office skills including Excel and Word.
Excellent organizational and planning skills.
Comfort and clarity in explaining accounting information, organizational procedures, and policies to stakeholders with limited financial background.

Responsibilities

Process and apply payments in accordance with University policy, including reviewing payment transactions for accuracy, documentation, and authorization.
Issue payments to various payees in different currencies using multiple payment methods.
Apply payment transactions to the General Ledger and reconcile discrepancies.
Prepare foreign payment transactions, including IACH and wire payments.
Administer returned payments, void and re-issue as required.
Identify and/or prepare journal entries related to disbursements, stale dating of payments, and AP sub-ledger maintenance.
Resolve complex issues through interaction with the university’s bank, foreign payment service provider, Finance management, and Accounts Payable team members.
Maintain appropriate system configuration and accurate supplier account records, including updating supplier payment addresses and banking information.
Test payment processes within the ERP system during upgrades/updates to ensure optimal configuration.
Stay informed about advances in the procure-to-pay process and participate in implementing process improvements, including security enhancements and fraud prevention measures.
Participate in the month-end/year-end close process.
Provide advice, training, and direction to campus representatives regarding payment processing policies and procedures.
Investigate and respond to inquiries, communicating financial information to diverse client groups.
Communicate with stakeholders to answer questions regarding account status, outstanding invoices, or to obtain information for payment issuance.
Participate in and support other department projects as required.
Distribute incoming invoices to Expense Associates for processing.
Provide administrative support as required.