Date:	December 2016
Reports to (Job Title):	Financial Administrator
Jobs Reporting (Job Titles):	None
Department:	Electrical & Computer Engineering
Location:	Main Campus
Grade:	USG 6 35 hr/wk

Primary Purpose

The Financial Coordinators are a key resource in maintaining the department’s financial well-being and upholding the department’s financial practices, University policies and accounting practices. They contribute to the operation of a dynamic, multi-faceted department and ensure that operating cost allocations support our key activities of undergraduate and graduate teaching, research, and service. The transition to a new resource allocation budget model increases the department’s accountability in managing its budget. The scope and nature of the department’s non-salary expenses are extensive and varied, requiring a broader understanding of allowable operating expenses, and the accounting requirements and financial business of the University.

The Coordinators are accountable to the Financial Administrator for managing departmental accounts payable and accounts receivable, as well as monitoring and reconciling large and complex operating accounts. The Coordinators support the Financial Administrator by ensuring accurate and up-to-date financial information is available for strategic academic priorities and resource allocation decisions.

The Financial Coordinator is also responsible for producing invoices to both internal and external customers of the department’s cost recovery labs and computer support services. The incumbent works closely with various Lab Managers in lab facilities to ensure the accuracy of services billed to users such as industrial researchers. As cost recovery units, the labs are required to balance their budget and resources with the ever-changing research needs of faculty. These positions play a strategic role to avoid operating deficits that result in monetary loss to the department.

Key Accountabilities:

1. Financial Administration

Reviews reimbursement claims, travel advances, etc. for reasonableness, appropriate documentation, authorization, and expense categorization in keeping with UW policies and procedures.
Reviews vendor invoices and validates goods received or services delivered before processing.
Verifies that transactions comply with University policies and procedures, and other governing regulations e.g. Broader Public Sector Expenses and Procurement Directives.
Reviews journal entry transactions, including Interdepartmental Billings, ensuring that the transaction is in compliance with the University's journal entry policy, fund transfer rules, fund definition rules, applicable HST input tax rules and accounting entries, and that the appropriate expense transfer approvals are in place;
Assesses non-salary expenses and assigns expense codes.
Works in conjunction with the Research Finance Coordinators to ensure appropriate research finance compliance.
Monitors and reconciles vendor statements and analyzes requests for payment.
Review Faculty Professional Expense reimbursement claims, some of which may be complex and substantial, for eligibility, accuracy, and completeness.
Prepares and submits purchase requisitions and systems contracts.
Monitors and reconciles P-card transactions monthly.
Exercises appropriate internal controls and resolves any problems prior to forwarding for payment.
Scrutinizes operating accounts and reconciles against UW’s accounting system FORE.
Investigates discrepancies requiring detailed analysis and knowledge of FORE, and resolves erroneous transactions.
Reconciles monthly IST telephone bill, reviews changes, monitors charges, and resolves discrepancies;
Liaises with Facilities Coordinator to facilitate telephone bill reconciliations.
Reconciles all expenses associated with the cost recovery labs.
Reviews reimbursement claims from faculty starter grant, overhead, research operating, or matching funds accounts for appropriateness and compliance with operating budget contribution rules; brings issues to the attention of the Financial Administrator.
Reconciles starter grant/research operating accounts, monitors balance available for spending, and updates associated faculty accordingly.
Maintains new department research accounts, overhead operating, and starter grant database.
Manages Petty Cash as the Petty Cash Custodian.
Assists with year-end and other accounting processes.
Reviews commitments at year-end and matches vendor invoices to purchase orders if not applied and report to Finance to clear encumbrances.
Assists with capital asset audit as required.

2. Accounts Receivable and Cost Recovery Administration

Prepares research computing cost recovery invoices for technical support to all faculty members, including their graduate students, research staff, and visitors.
Works with Lab Managers to record charges and prepare the appropriate entries.
Generates invoices to departments on campus and for companies off campus for lab services rendered.
Ensures appropriate taxation treatment for invoices issued.
In conjunction with the Research Finance Coordinators, ensures that proper account numbers are provided and charges are an allowable research expense.
Maintains an interrelated database and financial process to track revenue for the cost recovery labs.
Processes expense transfers for charge-outs for cost recovery of research related expenses to research, or other interdepartmental accounts.
Ensures correct coding of all submitted invoices to the system and balances A/R entries.
Monitors accounts receivable to ensure collection of outstanding internal accounts receivables and takes appropriate action as necessary.
Provides support for the collection of usage/service charges of all cost recovery labs and works with lab managers on the collection of payments.
Processes payment of invoices received from clients and ensures allocation to the appropriate department account(s).
Handles inquiries and complaints from clients regarding outstanding invoices and account receivable problems.
Investigates problems and resolves billing discrepancies or misapplied payment transactions.
Monitors cost recovery (invoices), actual expenses and balances for all cost recovery or research labs.
Maintains all appropriate documentation supporting accounts receivable to support audit and any other statutory requirements.

4. Client Support

Liaises and follow up with UW Finance, Procurement and other applicable departments.
Provides support to faculty, staff, students, visitors, etc. in the preparation of claims, reimbursements, and purchase requests.
Provides guidance to faculty and other staff on financial-related matters to ensure compliance with UW’s policies and procedures, and government legislation.
Interprets and clarifies applicable financial policies, procedures and guidelines to various audiences.
Provides financial assistance to the lab managers and technical staff on financial management of their labs.
Provides guidance to others on relevant accounting procedures and the use of financial systems, processes and forms.
Communicates financial information to diverse clients, who often have little/no accounting knowledge or experience.
Responds to vendor inquiries related to outstanding invoices and requests for payment.
Researches and resolves a variety of complex internal and external inquiries that are specific in nature and require a specialized knowledge of relevant policies and procedures and regulatory and legislated requirements.
Assists with internal or external audits or auditor inquiries as required.

4. Other Duties

Acts as backup to the other Financial Coordinator during absences or as required.
Acts as backup to the Financial Administrator during absences.
Attends all training on new systems and procedures, and meetings as required.
Remains current on University procedures, changes in tax legislation, and software upgrades.
Updates procedure documentation as required.
Acts as back up for office supply ordering.
Assists with back-up support for front desk during Department Assistant breaks and absences.
Assists with special projects and other duties as assigned by the Administrative Officer or Financial Administrator.

Position Requirements

Education:

Post-secondary diploma or degree in Accounting, Finance or Business, or equivalent education or experience.

Experience:

Minimum 2 years of recent experience in financial reporting, account reconciliation and financial analysis.

Experience manipulating large amounts of data and synthesizing financial information to prepare reports.

Qualifications:

Demonstrated ability to explain financial information, policies and procedures effectively to a non-financial audience.
Excellent interpersonal and communication skills, with ability to interact with people from a wide variety of backgrounds and cultures in a professional and collegial manner.
Independent judgment in areas of decision-making responsibilities.
Proven ability to manage a large volume of work, conflicting priorities and deadlines.
Ability to adapt to changing administrative and financial systems.
Understanding of University of Waterloo’s policies, procedures and business systems preferred.
Knowledge of the academic and research environment is an asset.

Technical: Experience with computerized accounting systems, specifically online accounts payable and receivables. Intermediate/advanced experience with Microsoft Office, especially Excel including features such as databases and pivot tables.

Technical:

MS Word	Excel	PowerPoint	Other
Intermediate	Advanced	Not required	FileMaker Pro, FORE, Outlook, SharePoint

Nature and Scope

Interpersonal Skills:

This position communicates internally with faculty, staff, students, and department finance team members, as well as various departments across the campus community e.g. Finance, Procurement, Chem Stores, Engineering Machine Shop, etc. The Coordinator must communicate accounting information to clients, often with little or no accounting experience, in order to achieve accurate, financial accounting and reporting, and resolve issues.

Externally, this position communicates with vendors in order to resolve account issues for accounts payable and with clients to resolve accounts receivable discrepancies.

Level of Responsibility:

The Financial Coordinator require a high level of financial skill and the ability to apply professional judgment to ensure compliance with the University’s travel, purchasing and financial procedures and policies. A high degree of accuracy, a thorough understanding of policies and practices, the ability to anticipate, investigate and resolve problems, and the ability to meet conflicting demands are expected. Failure to do so may result in overpayments, duplicate payments, lost discounts, interest charges, deficits or inappropriate charges which must be covered using department funds.

They must address issues and resolve discrepancies with internal and external client groups.

Decision-Making Authority:

The Financial Coordinator is expected to work independently and establishes own priorities in accomplishing job duties. She/he will identify issues, resolve and receives instructions only on unusual problems. In complex or unusual situations, issues may need to be escalated to the Financial Administrator for resolution. The Coordinator must apply knowledge of policies, procedures, business and accounting to process vendor invoices and expense claims or issue invoices.

Physical and Sensory Demands:

The job requires exercise of judgment and knowledge of University and accounting policies and procedures. It requires mental concentration and the incumbent must listen carefully to client concerns or circumstances and read into and between the lines of emails or correspondence to identify issues or problems daily. Concentrated attention to detail is required in an environment with competing priorities. The Coordinator must be able to manage concurrent assignments and prioritize workload in order to meet deadlines.

Working Environment:

Due to the nature and complexities of the department’s business activities, disagreements and contentious issues and situation may arise from time to time due to differing interpretations of policies and procedures. This role deals with angry clients and provides information/ explanation that may not be well received by the recipient. There may be ambiguity of situations and shortcomings in data, and some internal clients may be demanding, may request breaking policy, and some situations may require escalation. This role responds to situations where there is a lot of pressure to find a solution quickly. There may be periods of irregular/high volumes e.g. year-end.

Financial Coordinator (2 positions)