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Senior Financial Analyst
3 months ago
The Senior Financial Analyst collaborates closely with both academic and administrative leaders, as well as support personnel within their designated service areas. This role is a vital component of the university's Central Financial Services, functioning within one of the primary Finance teams, specifically in Financial Planning & Analysis.
Leveraging a high degree of technical proficiency, accuracy, and meticulous attention to detail, the incumbent will deliver strategic insights and support for financial and operational initiatives in alignment with the university's Financial Services standards, processes, and applicable legislation. The position entails conducting extensive analysis, data entry, process evaluations, and applying robust accounting knowledge across several key financial domains.
Key Responsibilities
The responsibilities associated with this role may vary depending on the assigned service areas:
- Engages with leaders from both academic and administrative sectors, offering practical financial guidance and support for budgetary obligations.
- Assists in the formulation of budgets, oversees budget performance and financial trends, anticipates future requirements, identifies potential issues, and maintains ongoing communication with leadership.
- Prepares consolidated forecasts for divisions, aids leadership in financial report presentations, and evaluates external financial partnership agreements.
- Drafts and reviews budgetary information, projections, and participates in informed discussions regarding budget planning.
- Supports specific projects or initiatives as directed by leadership, collaborating with Central Financial Services on enrollment and tuition revenue forecasting.
- Monitors financial activities with stakeholders, interprets financial reports, and provides advice to inform decision-making.
- Conducts a diverse range of financial activities in support of designated service areas.
- Prepares, reviews, and authorizes internal departmental charges, purchase requisitions, and reconciles work orders. Manages journal entries and salary transfer requests.
- Collaborates with colleagues and leadership on invoice requests, ensuring the establishment of purchase orders, and prepares monthly and year-end accounting entries.
- Offers guidance and support on financial processes, forms, and budgets, including training and updates.
- Generates financial reports and performs variance analysis, providing detailed insights into significant financial variances.
- Maintains ledger balances, tracks accounting records for general ledger accounts, prepares segments of annual financial statements, and collaborates with external auditors.
- Monitors and prepares reconciliations for specific accounts, manages capital requests, and corrects inaccuracies.
- Assists in the development of internal controls, reporting, and new initiatives, streamlining processes for greater efficiency.
- Educates and supports users of financial systems, enhancing their understanding of financial reports and resource management.
- Conducts reviews of business processes and policies, optimizing procedures for efficiency and implementing best practices.
- Analyzes financial areas, documenting issues, recommending actions, and executing solutions.
- Ensures compliance with financial requirements in contracts related to consulting, construction, and services.
- Tracks and records overload/additional-hours appointments and cost distribution changes for HRIS entry.
- Completes data entry, resolves discrepancies, and escalates unresolved issues to leadership.
- Designs and develops financial processes, accounting structures, and reporting frameworks for new initiatives, consulting with business owners and Enterprise Systems.
- Cross-trains to provide backup support for other analysts or functions within the Finance department.
- Financial Analysts assigned to campus development divisions will have additional responsibilities related to the maintenance of project management systems.
A Bachelor's degree in a relevant field (e.g., Accounting, Finance, Business, Economics) along with a minimum of 5 years of experience in managing complex cost recovery and revenue-based budgets, including budget preparation, development, monitoring, extensive data entry in Excel, analysis, quarterly reviews, and year-end reconciliation. An equivalent combination of education and experience may be considered.
- Proven ability to plan, organize, and develop effective systems work instructions and procedures to support financial functions.
- Demonstrated capacity to manage multiple tasks, meet deadlines, and prioritize effectively.
- Exceptional critical thinking skills.
- Exhibited initiative and independence while working collaboratively as part of a team.
- Proven ability to provide confidential service.
- Experience working with a diverse range of external audit clients and integrated system experience.
- Strong understanding and application of current accounting principles for not-for-profit, public sector, and charitable organizations.
- Proven ability to produce concise and complex financial reports.
- Ability to interpret, explain, report on, and provide advice regarding various accounting, budgetary, and financial management issues.
- Effective oral and written communication skills, with the ability to maintain strong working relationships with all levels of faculty and staff.
- Superior investigative and analytical skills with the ability to identify and implement strategies for improvement.
- Proficient in Microsoft Office, with exceptional skills in Microsoft Excel and demonstrated ability to apply Excel to complex financial analysis.
- Self-motivated and capable of working with minimal supervision within tight deadlines.
All qualified candidates are encouraged to apply; however, Canadians and permanent residents will be given priority.
Vancouver Island University is a comprehensive teaching university with a commitment to fostering student success, strong community connections, and meaningful collaborations through a diverse range of programs.