Financial Processing Specialist

2 weeks ago

Vancouver, Canada University of British Columbia Full time

Staff - Union

Job Category

CUPE 2950

Job Profile

CUPE 2950 Salaried - Financial Proc. Spec 5 (Gr7)

Job Title

Financial Processing Specialist

Department

Administration | Department of Materials Engineering | Faculty of Applied Science

Compensation Range

$4,594.00 - $4,827.00 CAD Monthly

Posting End Date

June 1, 2024

Note: Applications will be accepted until 11:59 PM on the day prior to the Posting End Date above.

Job End Date

At UBC, we believe that attracting and sustaining a diverse workforce is key to the successful pursuit of excellence in research, innovation, and learning for all faculty, staff and students. Our commitment to employment equity helps achieve inclusion and fairness, brings rich diversity to UBC as a workplace, and creates the necessary conditions for a rewarding career.
- Job Description

Job Description Summary

Oversees the Financial Resources of the Department, reports to Business Operations manager. Provides administrative support to the Manager, Administration when required.

The department has a complex finance-related function with an average of $13 Million in funds per annum in 170 project grants covering general purpose funds, research funds, endowment funds and research chairs, Tier 1 & Tier 2. Administers contract and grant accounts for complex sponsored research and specific purpose funds, requiring the exercise of judgment and knowledge of University, granting agency and accounting policies and procedures. The faculty and graduate student populations are very active in research and travel.

Organizational Status

Reports directly to the Manager, Administration. Liaises with staff, students and faculty on financial matters relevant to the position.

Organization Chart: PI Request ] Financial Specialist Processor ] Financial Reviewer ] PI Approval

Work Performed

Financial Duties

Responsible for the all financial processing covering journal vouchers, invoices, travel claims, purchase requisitions, honorariums, purchase requisitions and cash deposits. Ensures timely payments. Investigates complex problems and reconciles financial discrepancies.

Manages the maintenance of grant accounts, control of expenditures, Monitors financial progress of research and contract accounts to ensure funds are expended during the contractual agreements. Ensures expenditures do not exceed the funding available, works closely with account holders. Ensures account holders are expending funds in compliance with funding guidelines; works closely with researchers ensuring that funds are properly accounted for and that budget anomalies are brought to their attention, with guidance for resolution; monitors financial progress of research and contract accounts to ensure funds are expended during the contractual agreements. Oversees the management of all research accounts, including NSERC, CFI and other grants and contract agreements

Exercise judgement and knowledge of University, granting agency and accounting policies and procedures ensuring reporting is correct. Assesses impact of surpluses/deficits and reviews variances; ensures cost effectiveness of expenditures. Audits departmental accounts to ensure financial integrity and sufficient controls are maintained as per university guidelines

Reconciles monthly financial statements, ledgers and deposits; preparing corrections of deposits and verifying deposits have been allocated to proper cost & revenue centers. Preparing and distributing monthly statements; ensuring accuracy of accounting records.

Manages year-end reconciliation of all accounts. Ensures it meets audit requirements.

Maintains files of all financial transitions, documents and supporting material. Analytical reporting of monthly expenses and revenue.

Responsible for continually streamlining the financial dynamics to ensure increased efficiency and accuracy of reporting.

Administrative Duties

Assists business Operations manager when needed

Responsible for taking the minutes of the monthly faculty meetings.

Covers the reception of the front desk, when required.

Other duties as requested.

Consequence of Error/Judgement

Failure to work effectively would result in delays in processing important financial materials. Failure to maintain confidentiality would seriously impair the integrity of the department. The position demands confidentiality and responsibility.

Supervision Received

The position reports to the Manager, Administration of the Department and is expected to work independently with mínimal supervision. Overall objectives are determined in consultation with the Manager. Within these guidelines, the Financial Specialist works independently, determining priorities as necessary. The position requires independent executive decision making, ability to assess and implement work required and strong organizational skills. Consultation is sought on decisions of strategic significance.

Supervision Given

Formally trains new staff on work procedures, and/or overse

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