Senior Accounting Clerk

Senior Accounting Clerk (Treasury) Location Kitchener, ON : Job Req ID: 1091 Department: Cash Management and Investments

Senior Accounting Clerk (Treasury)

Job Number: 1091 Job Type: Full-Time Temp Contract Length: Location: 150 Frederick St - Regional Admin Headquarters Job Category: Administration Number of Positions: 1 Department: Cash Management and Investments Division: Corporate Services Hours of Work: 35 Union: CUPE 1883 Grade: CUPE 1883 Grade 008 Salary Range: $31.80 to $36.00 per hour Our Story: Committed to fostering opportunities for current and future generations, the Region of Waterloo is an inclusive, thriving and sustainable region of connected rural and urban communities with global reach. Our mission is to serve, engage and inspire, by delivering quality services to a diverse population of 630,000+, while creating a healthy, collaborative environment of learning, respect and innovation. This is a place where employees are valued and recognized for their talents and contributions to our success. Our employees take pride in making a difference in people's lives through the work that we do. We are looking for people like you to help make it happen. The Role Performs accounting functions relative to banking activities in the Region's main bank account. Administers the general investment portfolio and prepares documentation for reporting requirements. Performs accounting and reconciliation functions relative to payroll and US dollar bank accounts. Duties/Responsibilities

• Analyzes, verifies, corrects, and records bank-initiated transactions from the general bank account into the financial accounting system. Downloads bank statements daily and reviews for errors. Acts as first point of contact with the bank regarding account problems and errors. Initiates investigations with the bank and client departments, using banking statements to identify errors, determine cause, and resolve. Monitors bank accounts to ensure program area accounts do not go into overdraft and arranges for transfer of funds to correct. Analyzes deposits to general bank account and allocates to accounts receivable or client department accounts. Investigates and initiates corrections to online bill payments made to the Region in error and monitors to ensure funds are returned. Investigates and responds to questions from auditors and other Finance staff regarding bank account transactions.
• Downloads daily information regarding cheques cashed through various bank accounts. Reconciles, investigates, and resolves discrepancies between cheques issued by Finance and cheques cashed against the general bank account. Verifies cheque authenticity as requested by the bank.
• Stops payment of cheques as requested by client departments and approved by the Supervisor or Manager. Ensures affidavits for lost or misplaced cheques are endorsed, cancels cheques where appropriate, and verifies banking transactions. Prepares documentation and letters to the bank in cases where cheque fraud has been claimed and follows up on investigating and resolving with client departments; monitors bank account and follows up until monies are received. Distributes and processes related information to accounts payable staff.
• Organizes and maintains files of banking documentation, agreements, signing authorities, correspondence, and other information related to bank accounts. Orders banking supplies for client departments (e.g., deposit bags, stamps, slips). Organizes and maintains monthly bank account records, statements, and summaries of charges and interest.
• Administers the general investment portfolio. Analyzes, verifies, records, and reconciles transactions, and calculates and accrues bond interest and amortization in the financial system. Ensures funds are transferred correctly through the general bank account for investment transactions generated by the investment team. Prepares investment purchase documentation for bank wire transfers, collects signatures, and sends documentation to the bank. Prepares monthly and yearly statements of investments for Manager and Director. Monitors investment maturities and interest payment due dates and follows up with investment dealers and/or bank on missing/delayed payments. Where appropriate, negotiates interest compensation, for approval by Supervisor or Manager and Director. Reconciles investments to monthly statements from investment firms or dealers. Reports market values. Prepares investment schedules for Committee reports, investment cash flow projections, and year end investment schedules. Investigates and responds to questions from auditors and other Finance staff. Maintains and secures filing system of original and matured investment documents.

Additional Duties/Responsibilities

• Reconciles US dollar cheques cashed from the bank to the financial accounting system. Monitors US dollar bank account and determines when funds need to be transferred from general account to US account to cover weekly cheque runs. Prepares documentation for Supervisor or Manager to execute transfers. Confirms transfers are complete and exchange rate is correct. Prepares journal entries to record transfers in the internal financial accounting system. Reconciles account, payroll bank account, and payroll general ledger clearing account to the financial accounting system.
• Performs critical functions of Accounting Specialists in their absence, including debenture and tile drain invoicing and payments, purchase document preparation for sinking fund investment purchases, and journal entries. Acts as backup to reconcile revenue information generated monthly and prepares and enters journal entries to allocate source revenue to budget accounts for client departments.
• As primary user of the cheque data loader is responsible for maintenance, updates, and operational issues. Provides recommendations to ITS to resolve issues.
• Analyzes, verifies, and reconciles monthly sales and revenue information generated by client departments (point of sale machines, returns, cheques, cash, pre-authorized payments) posted to various bank accounts. Prepares journal entries to record source revenue into the financial accounting system. Investigates discrepancies and responds to questions.
• Calculates share of monthly interest received for investment accounts held on others' behalf (i.e., Heritage Foundation) and prepares journal entries or cheque requisitions.
• Prepares bank confirmation and audit letters for investment holdings for external auditors annually.
• Arranges for certified cheques with the bank as requested weekly by user departments and follows up as required. Orders coin currency as requested by transit staff and resolves issues.
• Coordinates bank deposits for client departments with Creative Multimedia Services. Follows up with bank representative and local branches with any bank customer services issues.
• Administers the record keeping and safekeeping of the Region's letters of credit and coordinates their return to the issuing party.
• Plans and prioritizes work to meet deadlines per established timeframes and management direction. Works independently to resolve issues and consults with management on unusual/ complex issues without precedent. Prepares monthly reports for submission to the general ledger for management review and approval.
• Performs related duties as assigned.

Knowledge, Skills, and Abilities

• Knowledge and skills are acquired through a 2-year diploma in Accounting or a related field plus 3 years of related experience, or an equivalent combination of education and experience.
• Knowledge of finance and general accounting principles and procedures, investment accounting strategies and practices, financial analysis for understanding and calculating accrued interest and the amortization of bond premium/discount, and basic mathematical skills.
• Knowledge of and ability to comply with policies, procedures, generally accepted accounting principles, and related legislation. Ability to read, understand, and apply banking policies, procedures, and guidelines relative to banking contracts.
• Understanding of types of bond investments and related accounting calculations and entries.
• Analytical, organizational, and problem solving skills to organize daily workload, set priorities, deal with unanticipated requests, meet deadlines, prepare and post investment transactions, and make recommendations regarding the presentation of investment information. Ability to verify bank/ investment dealer statements and determine accuracy of cash/investment holdings and interest calculations.
• Ability to maintain confidentiality and discretion.
• Communication skills to interact with bank staff, investment dealers, and other staff; clearly communicate detailed investment information and instructions to staff, bank staff, and investment dealers and investigate to resolve issues; and participate as an effective team member.
• Ability to write notes, memos, standard and customized letters, and instructions to maintain investment transactions, write correspondence to investment dealers regarding purchases of investments, and request information. Ability to prepare investment sheets and schedules relative to investment holdings for management decision-making.
• Computer skills with ability to use software such as Microsoft Office, financial systems, and online banking platforms.
• Ability to support and demonstrate the Region's values.

Additional Knowledge, Skills, and Abitities The Region of Waterloo is an equal opportunity employer committed to an inclusive, barrier-free recruitment and selection process. At the Region, we respect, encourage and celebrate our diversity. The Region of Waterloo is committed to providing accommodations throughout the recruitment process. If you require an accommodation, please notify us and we will work with you to meet your needs. Alternate formats of this document are available upon request. Please contact the Service First Contact Centre at phone number , TTY number ) to request an alternate format. Original job Senior Accounting Clerk posted on GrabJobs . To flag any issues with this job please use the Report Job button on GrabJobs. #J-18808-Ljbffr

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