Research Financial Analyst

University of Waterloo•Waterloo, ON

1d•CA$61,954 - CA$92,119•Onsite

About The Position

The Research Financial Analyst (RFA) is responsible for the financial administration and management of a portfolio of research accounts for a specific group of researchers. These responsibilities include problem-solving with respect to the management and analysis of a portfolio of research accounts, preparation of financial statements, management of the relationship between and requirements of internal and external stakeholders, and ensuring adherence to financial requirements/guidelines specified by sponsors and to University policies.

Requirements

University undergraduate degree preferably in Accounting, Business or Finance or equivalent combination of experience and education
Experience in financial reporting, account reconciliation and financial analysis
Experience of effectively communicating with key stakeholders
Intermediate to advanced knowledge of Excel
Intermediate knowledge of Word
Beginner to intermediate knowledge of PowerPoint
Intermediate to advanced knowledge of Unit4, Adobe, Outlook

Nice To Haves

Enrolment in a professional accounting designation (i.e. CPA or international equivalent) is recommended as progression to USG 10 requires completion of said designation
Working knowledge of auditing practices and procedures is an asset
Knowledge of the academic and research environment is an advantage

Responsibilities

Manage and Foster Relationships with Internal and External Stakeholders
Key point of contact between researchers and research administrators for financial advice, guidance and queries pertaining to research accounts
Communicate regularly and proactively with researchers in person, by e-mail or by telephone to discuss progress on their accounts
Provide advice and assistance to researchers and their departmental/faculty administrators on sponsor guidelines or university policy as it pertains to research
Communicate with external research sponsors regarding interpretation of guidelines or reporting requirements and resolution of specific project needs/concerns/issues
Liaise with Office of Research pre-awards colleagues regarding clarifications or amendments to research agreements/contracts
Liaise with other UW academic support units to ensure appropriate management of research funds
Financial Administration and Management of a Portfolio of Research Accounts
Set up of new research accounts
Review, gain an understanding of and approve new research projects through the research awards management system (InfoEd)
Liaise with Office of Research pre-awards colleagues regarding new or unusual areas of the research agreement
Set up budget, overhead and encumbrance journal entries in accordance with specific requirements of the award agreement
Notify the Principal Investigator (PI) of the key financial reporting requirements and sponsor guidelines of the specific research project
Financial administration and management of research accounts
Ensure that reporting schedules are met by proactively tracking project schedules and reporting deadlines for assigned accounts to ensure that reporting deadlines are met
Prepare invoice requests in accordance with invoicing schedules in the award agreement
Prepare financial reporting in the format stipulated by each individual research sponsor
Collate appropriate supporting documentation to accompany reports
Liaise with representatives of collaborating institutions to ensure that all data/reporting/supporting documentation for a specific project is received on a timely basis
Liaise with PIs and/or research project managers and administrators to ensure that any in-kind supporting documentation has been collected from external partners
Review in-kind provided by external partners to support research projects to ensure that the documentation provided is appropriate and calculated in accordance with the specific sponsor’s requirements
Maintain accurate, well organized financial project files
Conduct budget variance analysis to identify areas of concern and in conjunction with PI’s take appropriate action
Analysis of PI’s research accounts to assist them in efficiently managing their portfolios and in appropriately spending their research funds
Monitor outstanding invoices to ensure that researchers are advised on a timely basis if payment may be an issue so that appropriate action can be taken
Closing Research Accounts
Monitor accounts that are coming close to their end date to ensure that all funds will be spent appropriately by the end date or that an extension request submitted
Ensure that all reporting requirements have been met and all funds have been received
Provide advice to PIs over options for resolving surplus or deficit account balances to an alternative eligible account
Prepare journal entries to close out the project account ensuring that appropriate PI authorization and supporting documentation is retained
Finalize the print and/or electronic research files ensuring that all appropriate documentation is kept according to record retention guidelines
Facilitation of audits on research accounts
Key point of contact with sponsor, UW or collaborating institution auditors during the audit of research accounts in their portfolio
Provision of an overview of sponsor program details and UW policies and procedures to the auditors
Preparation and reconciliation of audit support listings to auditors
Provision of supporting documentation for transactions being audited
Co-ordination and reconciliation of supporting documentation from collaborating institutions
Responding to audit queries