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Capital Financial Analyst

Department:

Finance

Effective Date: November 3, 2008
Grade:

USG 10

35 hr/wk

Reports to: Manager, Accounts Payable

General Accountability

The position of Capital Financial Analyst is a strategic, professional accounting position within Finance that manages one component of the University’s financial accounting and reporting, namely the capital fund (i.e. fund 104).  The capital fund is managed individually and collectively with other University’s funds.  Significant aspects of the capital fund include accounting and reporting the University’s capital assets, construction projects, and the capital fund deferred contributions.

Nature and Scope

Finance is responsible for the University’s strategic direction in accounting and reporting, manages the University’s enterprise-wide accounting and reporting systems, and implements best practices in business/accounting processes.  Accounts Payable and Capital Accounting, one section within Finance, contributes to Finance’s mission by accounting for and reporting on non-salary expenses, payments, liabilities, capital assets and the capital fund.  Results are achieved by managing related policies, procedures and processes, ensuring strong internal controls, implementing best practices, and keeping abreast of business and technological trends.

 

The Finance section known as Accounts Payable and Capital Accounting is the responsibility of a Manager.  Other positions reporting directly to the Manager of Accounts Payable and Capital Accounting include:

Finance is responsible for issuing the University’s audited financial statements.  Preparing the financial statements is a major, annual initiative that requires the co-coordinated and dedicated effort of University departments and professional accountants within Finance.  The financial statements cannot be released until audited by the University’s external auditors and approved by the Board of Governors.  The Capital Financial Analyst contributes to the financial statement process by accounting for and reporting on the capital fund.   The capital fund is dependent on other University processes, particularly the procure-to-pay process.  Also, accounting for and reporting on the capital fund is sensitive in terms of the significant dollar value and time sensitive given that closing Oracle Assets is one of the last major steps in a complex sequence of events.  Also, the capital fund accounting and reporting issues, such as inter-fund transactions, long-term debt, capital assets, construction funding/costs and deferred contributions, are complex and highly integrated in nature.  The incumbent is responsible to management and the University’s auditors for documenting processes, providing analysis and reports, and responding to inquiries related to the capital funds.

 

In order to achieve the strategic direction outlined in the University’s sixth decade plan, many new buildings are required both on the University’s main campus and off-site.  The funding and cost information related to construction projects is critical in managing construction projects.  Financial information is analyzed and reported to the Vice-President, Administration and Finance (V-P, A&F).   In turn, summarized information is reported by the V-P, A&F to the Buildings and Properties Committee of the Board and to the Board itself.   Also, summary information is essential to senior management to determine the University’s external financing requirements, if any.  The Capital Financial Analyst manages the summary reports related to construction projects ensuring completeness, accuracy and timeliness.  Also, the incumbent liaises with Faculty Executive Assistants and/or Faculty Financial Officers/Analysts to ensure that internal funding commitments for construction projects are fulfilled and processed.

 

The University’s Policy 74, Capital and Non-Capital Assets, provides the framework governing the University’s assets.  In particular, the Capital Financial Analyst recommends and conducts an audit plan to verify the University’s assets and to ensure that departments comply with the policy.  The incumbent reports audit findings to management and advises departments about the policy and related processes and procedures.  The incumbent is responsible for keeping abreast of business and accounting issues related to the policy and advising management of improvement opportunities.

 

In March 2005, the University implemented the Oracle Asset module to achieve efficiencies and effectiveness in managing capital assets, especially accounting for and reporting on depreciation.  The University realized significant productivity gains through the integration of the Oracle purchasing, accounts payable, asset and general ledger modules.   For the most part, transactions occur seamlessly amongst the various Oracle modules enabling the incumbent to manage the capital assets.  For example, the incumbent by identifies exceptions, resolves issues, reconciles the sub-ledger to the general ledger, and reports accounting information.

 

The Capital Financial Analyst manages the Oracle Asset module within the Oracle E-business Suite.  To this end, the incumbent participates on a cross-functional team responsible for Oracle system implementations and upgrades.  In addition, the cross-functional team is responsible for Cognos Impromtpu reports (web-based and/or desktop reports), which reports on accounting information resident in the Oracle E-business Suite.  The web-based, electronic reports, known as FORE, are provided to department managers. Typically, the cross-functional team comprises project managers from Information Systems and Technology, software/service providers and consultants.  Also, participating on the cross-functional team are peer representatives from each of the Oracle E-Business system modules.  Specifically, the incumbent is responsible for integrity and integration of the asset module.  In addition, the incumbent is expected to contribute to the successful completion of the entire project, as needed. 

   

Annually, the government provides funding for capital projects for the construction of new or betterment of existing assets.  Currently, the programs are referred to as “Facilities Renewal” or “Campus Renewal”.  Accordingly, the University is accountable to the government for spending in compliance with the program.  The incumbent is responsible for understanding the reporting requirements and for preparing the statements, where necessary.  In turn, the incumbent liaises with the University’s external auditor who audits the statement and files the necessary audited statement to government by the required date.

 

The Capital Financial Analyst is responsible for cross-training one Payables Accounting Analyst (at the expert level) in certain capital accounting responsibilities.  For the most part, the responsibilities relate to accounting for capital assets and long-term debt.  The Payables Accounting Analyst is assigned to Capital Accounting responsibilities up to approximately 25% FTE to ensure goals and objectives can be achieved and sustained.  The incumbent provides cross-training and leadership to the Payables Accounting Analyst and provides constructive feedback to the Manager for performance evaluation.     

 

As a professional accountant, the Capital Financial Analyst is responsible for assignments that require professional accounting knowledge.  Assignments may relate directly to responsibilities in Capital Accounting or more broadly to professional accounting knowledge.  For example, the incumbent may be assigned responsibility for developing a cross-functional, integrated business case that requires research, consideration of alternatives and a recommendation.  Upon approval of the business case the incumbent may lead the implementation of the business/accounting change including developing policy with senior management, documenting procedures and training those affected by the change current.

 

Finance cross-trains staff in order to promote professional development, to promote progressive and diverse experience, and ensure that objectives and goals are achievable and sustainable.  Breadth and depth of knowledge about the University and Finance are critical success factors in contributing to the University’s excellence.  In particular, the Capital Financial Analyst gains experience in Accounts Payable.  Also, Finance expects staff to continue professional development and keep abreast of relevant changes in business practices, accounting and technology.    Accordingly, the Capital Financial Analyst contributes as a professional accountant to the Finance team.

Statistical Data

Specific Accountabilities

Working Conditions