Financial Services Accountant (Financial Services)

Job Purpose:

Under the general direction of the Senior Manager, Financial Services, The Financial Services 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 staff to administer special purpose funds, ensuring compliance with the University and funding agency’s financial administration policies and procedures and generally accepted accounting principles.

The Financial Services Accountant prepares and is accountable for financial reports as required and provides administrative support for account holders who have special purpose funding, interpreting both Trent and funding agencies’ policies and procedures. This position must have sound knowledge of fund eligibility and reporting requirements, applying professional judgement and analytical skills to ensure the accuracy of the information used for decision making and funding purposes. This position also assists external auditors in audit of sponsored funding and expenditures.

Reviewing applications and providing substantive financial feedback and advice on contract contents before applications are submitted to funding agencies, this position will work closely with departments to support pre-award activities.

This position ensures endowment fund tracking is maintained, 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.

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

Key Activities:

  • Works closely with the External Relations and Advancement Office to administer 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.
    • Accounts receivable management of Special Purpose Funds Accounts, reviewing agreements and preparing invoices when required, ensuring the timely remittance of funds by external agencies.
    • Reviews 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.
  • Interprets Trent University and external agency financial policies and procedures for special purpose fund account holders, providing information and advice to ensure activity follows the provided guidelines.
  • Ensures maintenance of model to track endowment account balances.
    • Record investment portfolio transactions.
    • Calculate annual payout to expendable trust accounts.
  • Prepare reporting for External Relations and Advancement Office, responding to requests for information.
  • Submit documentation for investment purchases/sale according to requirements (For example, Sinking Fund contributions and Endowment payouts).
  • Prepares and is accountable for financial reports as required internally and for funding from external agencies to ensure compliance of grant expenditures with the funding agency's guidelines or budget parameters.
  • 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 and annual CAUBO surveys related to investments and endowments.
  • 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).
  • Exceptional analytical skills and proven ability to provide sound professional judgement
  • 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.