Research Financial Analyst

1 week ago

Sudbury, Ontario, Canada Northern Ontario School of Medicine Full time
The Research Financial Analyst provides financial administrative support to NOSM University's research services.

These responsibilities include the oversight and analysis of research accounts, preparation of financial reports, management of the relationship between and requirements of internal and external stakeholders and ensuring adherence to financial requirements/guidelines specified by research sponsors and to the NOSM University policies.

This position will report jointly to the Director of Finance and to the Director, Research, Innovation and International Relations.

This position is covered by the Terms and Conditions of the OPSEU Unit 677 Collective Agreement (Unit 2). A copy is available on the NOSM University website.

Responsibilities:

Tasks include but are not limited to the following:

  • 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 to discuss progress on their accounts
  • Provide advice and assistance to researchers on sponsor guidelines or university policy as it pertains to their research finances
  • Communicate with external research sponsors regarding interpretation of guidelines or reporting requirements and resolution of specific project needs/concerns/issues
  • Liaise with pre
- and post-awards colleagues regarding clarifications or amendments to research proposals and agreements/contracts

  • Liaise with units to ensure appropriate management of research funds.
  • Financial Administration and Management of Research Accounts:
  • Performs routine to complex financial and accounting duties, including creation of financial transactions, and overseeing account management for research projects
  • Adheres to compliance and financial reporting requirements
  • Set up new accounts including budget, overhead and encumbrance journal entries in accordance with the specific requirements of the award agreement
  • Notify the researchers of key financial reporting requirements/dates and the sponsor guidelines of the research project
  • Ensure that all reporting requirements are met, that all funds have been received and that accounts are appropriately closed
  • Prepare invoice requests in accordance with invoicing schedules in the award agreement and liaise with Accounts Receivable regarding outstanding invoices to ensure that, if payment may be an issue, appropriate action can be taken
  • Prepare financial reporting as stipulated by the sponsor and collate appropriate supporting documentation to accompany reports
  • Liaise with representatives of funding and collaborating institutions to ensure that all data/reporting/supporting documentation for a specific project is received on a timely basis
  • Maintain accurate, well organized financial project files and ensures accuracy and integrity of related data within the financial system
  • Analysis of research accounts to assist researchers in efficiently managing and in appropriately spending their research funds, including conducting budget variance analysis to identify areas of concern, and recommending appropriate action
  • 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 is submitted
  • Provide advice to researchers for resolving surplus or deficit account balances
  • Prepare journal entries to close out accounts ensuring that appropriate researcher authorization and supporting documentation is retained according to record retention guidelines
  • Facilitation of audits on research accounts, including preparation, reconciliation, and provision of all required documentation for auditors
  • Key point of contact with sponsor, NOSM University or collaborating institution auditors during the audits of research accounts
  • Assists in drafting, revising, and maintaining related research policies and research standard operating procedures
  • Performs all other duties as assigned.

Qualifications:

Education:

  • University undergraduate degree preferably in Accounting, Business Administration or Finance from a recognized university with Canadian accreditation or an equivalent combination of education and experience is required.
  • Professional accounting designation (CPA, CA, CMA, CGA) is required.

Knowledge, Skills and Abilities:

  • Minimum of three (3) years of related experience is required.
  • Knowledge of the academic research environment
  • Experience in postsecondary research administration
  • Knowledge of university administration policies and procedures
  • Generally Accepted Accounting Principles (GAAP) and Auditing Principles
  • Experience in financial reporting, account reconciliation and financial analysis
  • Working knowledge of auditing practices and procedures is an asset
  • Knowledge of the various sources of research fundi

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