Senior Accounting Specialist
About The Position
Financial Services is a department within the Chief Financial Officer portfolio. The University’s decentralized management model places financial management responsibility within every division of the University as well as within Financial Services. The academic goals and objectives of the University are supported through excellent financial management and effective and appropriate use of all financial resources. Within Financial Services, the Receivables & General Accounting Office is responsible for policies, procedures and processes for both student and trade receivables and general accounting; oversight and supervision of the University’s student and student financial systems; administration and accounting for the University’s pension and benefit plans; preparation of schedules for the University’s annual financial statements; and special ad-hoc projects. The busy office works with both central and divisional offices across the University and external groups such as banks, collection agencies, actuaries and government agencies. Under the general direction of the Associate Director, Receivables and General Accounting, the Senior Accounting Specialist performs a variety of complex analyses and interpretation of confidential data relating to benefits budgeting and forecasting such as trend analyses, development of benefit costs models and sensitivity analysis. In addition, he/she prepares a variety of financial statements, reports and filings for benefits plans and provides auditable data and schedules relating to employee future benefits for the University’s annual financial statements. The incumbent is responsible for account reconciliation, identifying and resolving financial discrepancies, recording accounting entries, and verifying the accuracy and completeness of information on HRIS/FIS. The Senior Accounting Specialist is also involved in special ad-hoc projects for the Financial Services Department which support various business needs.
Requirements
- University degree and a professional accounting designation from a recognized professional accounting program (i.e. CGA, CMA, CPA, CA) or an equivalent combination of education and experience.
- Minimum 3 years experience accounting for benefits and/or pensions in higher education or large public sector organization.
- Experience with preparing financial statements, including preparation of reconciliation and analysing large amounts of financial data.
- Thorough knowledge of generally accepted accounting principles, especially as related to pension and benefits accounting.
- Demonstrated related experience with U of T's Administrative Management System (e.g. FIS), or equivalent systems.
- Experience maintaining and organizing administrative and financial records.
- Solid understanding of accounting for benefits and/or pensions.
- Proficient with Microsoft Office (Excel, Word, SharePoint, Teams and Outlook).
- Demonstrated high level of organization and attention to detail and ability to maintain accuracy under pressure of deadlines.
- Demonstrated ability to exercise tact, good judgment and diplomacy.
- Knowledge of the University’s financial procedures and guidelines, or other similar procedures.
Nice To Haves
- Related experience in a university environment or higher educational institution
- Previous experience in a high-volume processing environment
- Demonstrated experience with developing and implementing forecast models
- Knowledge of SAP
Responsibilities
- Preparation of the Annual and Long-Range benefits budget submission
- Presenting recommendations and forecasts to various influential stakeholders within the University
- Preparation of various benefit reports and working with existing models and/or developing new models to perform various analysis and evaluate change assumptions
- Monitoring monthly financial position of benefit plans
- Monitoring any new information on changes to the cost of legislative benefits
- Coordinating with actuaries for periodic valuation of benefit plans for various internal requirements
- Preparing working papers and reconciliations relating to benefits for external auditors
- Assisting other areas in Financial Services upon request and participates in Special Projects
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What This Job Offers
Job Type
Full-time
Career Level
Senior
