Trust Accountant (Financial Services)

Job Purpose

The Trust Accountant is responsible for the efficient operation of the Endowment, Investment and Special Purpose Account portfolios of Financial Services by providing exemplary customer service while working closely with account holders, funding agencies and External Relations and Advancement (ERA) to administer special purpose funds (primarily endowment and trust accounts), ensuring specified controls are exercised, meeting expected deadlines and maintaining appropriate records. 

The Trust Accountant maintains the endowment fund tracking, prepares audit schedules as required and assists with the preparation for Council of Ontario Finance Officers (COFO) Financial Report and Canadian Association of University Business Officers (CAUBO) reports.

Assists employees of the University in the application of accounting principles when processing transactions by providing advice in the proper accounting of complex or unique transactions related to special purpose funds, ensuring compliance with Trent and funding agencies’ policies and procedures as well as generally accepted accounting principles

Works collaboratively with colleagues to provide a team approach in support of the regular special purpose funds reporting to departmental account managers. 

Key Activities

Special Purpose Account Operations

  • Administers Special Purpose Fund accounts, including Trust, Special Project, Endowment and Fundraising by establishing the account numbers, monitoring revenue and expenditures, investigating any unexpected deficit balances and other historic issues.
    • Reviews expenses charged against special purpose accounts to ensure available funds, eligibility and appropriately approved
    • Accounts receivable management of Special Purpose Funds Accounts, reviewing agreements and preparing invoices when required, ensuring the timely remittance of funds by external agencies.
    • Identifies incoming electronic funds and wire transfers for special purpose fund accounts, and provides the appropriate general ledger account numbers to credit the funds against.
    • Prepares monthly journal entries for special purpose fund accounts, where necessary, to reflect an accurate balance in each account.
    • Closing of special purpose accounts
      • Ensure accounts reflect a zero balance.
      • Confirms financial reporting has been completed and all funding has been received.
      • Initiates return of residual balances to funders, if required.
    • Reviews fundraising journal entries prepared by ERA for posting to GL.
  • Interprets Trent University and external agency financial policies and procedures for special purpose fund account holders, providing information and advice to ensure activity is in compliance with the provided guidelines.
  • Updates the monthly distribution list for special purpose fund accounts on a timely basis.

Endowment Reporting

  • Maintain model to track Endowment account balances.
    • Record investment portfolio transactions.
    • Calculate annual payout to expendable trust accounts.
  • Prepare year-end reporting for ERA, respond to requests for information.
  • Submit documentation for investment purchases/sale according to requirements (For example, Sinking Fund contributions and Endowment payouts).

Financial Reporting

  • Prepare and submit, once approved:
    • Financial reports as required for external agency funding.
    • Internal financial reports as requested
    • Annual CAUBO Surveys related to investments and endowments.

Year-end Reporting

  • Prepare trust, fundraising, endowment and investment year-end audit schedules with supporting documentation for external audit.
  • Assist the Senior Manager, Financial Services in preparation of the Council of Ontario Finance Officers (COFO) Financial Report.


  • Maintain user access and signing authorities for special purpose accounts.
  • Process student awards for special purpose accounts when required.
  • Perform special tasks assigned by Senior Manager, Financial Services, Manager Budgeting Services or AVP Finance.

Education Required

  • Honours University Degree (4 year) Majoring in an accounting program.
  • Professional accounting designation.

Experience/Qualifications Required

  • Minimum of 3 years of recent, relevant public accounting experience, including a minimum of 1 year experience auditing financial information in a public practice.
  • Financial statement preparation in a highly computerized environment (university, fund or project accounting experience preferred).
  • Working knowledge and experience on PC, particularly within a Windows and LAN environment. Excellent spreadsheet and good keyboarding skills. Knowledge and experience with computers and software such as MS Office (Word, Excel, Access), Internet, E-mail. Experience with Colleague would be considered an asset.
  • Ability to interact and collaborate professionally and effectively with all/diverse constituencies of the University community, as well as with external contacts.
  • Proven ability to work both independently and as part of a team in a complex and multi-faceted work environment.
  • Strong organizational and professional communication skills.
  • Strong knowledge of budgetary procedures and meticulous attention to detail.
  • A clear understanding and demonstrated abilities for diplomacy and confidentiality.