At a Glance
- Tasks: Manage research accounts, provide financial advice, and ensure compliance with sponsor guidelines.
- Company: Join the University of Waterloo, a place that values potential and inclusivity.
- Benefits: Competitive salary, supportive work culture, and opportunities for career advancement.
- Other info: Temporary position with excellent growth opportunities in a dynamic environment.
- Why this job: Make a real impact in research finance while working with diverse teams.
- Qualifications: Experience in financial administration and strong communication skills.
The predicted salary is between 61955 - 77444 $ per year.
At the University of Waterloo, we create and promote a culture where everyone can reach their full potential. As an employee, you get support & opportunities that empower you to advance your career. The University is a welcoming workplace for those of all abilities, interests, and expertise.
Primary Purpose
The Research Financial Analyst (RFA) is responsible for the financial administration and management of a portfolio of research accounts for a specific group of researchers. These responsibilities include problem-solving with respect to the management and analysis of a portfolio of research accounts, preparation of financial statements, management of the relationship between and requirements of internal and external stakeholders and ensuring adherence to financial requirements/guidelines specified by sponsors and to University policies.
Key Accountabilities
- Manage and Foster Relationships with Internal and External Stakeholders
- Key point of contact between researchers and research administrators for financial advice, guidance and queries pertaining to research accounts.
- Communicate regularly and proactively with researchers in person, by e-mail or by telephone to discuss progress on their accounts.
- Provide advice and assistance to researchers and their departmental/faculty administrators on sponsor guidelines or university policy as it pertains to research.
- Communicate with external research sponsors regarding interpretation of guidelines or reporting requirements and resolution of specific project needs/concerns/issues.
- Liaise with Office of Research pre-awards colleagues regarding clarifications or amendments to research agreements/contracts.
- Liaise with other UW academic support units to ensure appropriate management of research funds.
- Financial Administration and Management of a Portfolio of Research Accounts
- Set up of new research accounts.
- Review, gain an understanding of and approve new research projects through the research awards management system (InfoEd).
- Liaise with Office of Research pre-awards colleagues regarding new or unusual areas of the research agreement.
- Set up budget, overhead and encumbrance journal entries in accordance with specific requirements of the award agreement.
- Notify the Principal Investigator (PI) of the key financial reporting requirements and sponsor guidelines of the specific research project.
- Financial administration and management of research accounts.
- Ensure that reporting schedules are met by proactively tracking project schedules and reporting deadlines for assigned accounts.
- Prepare invoice requests in accordance with invoicing schedules in the award agreement.
- Prepare financial reporting in the format stipulated by each individual research sponsor.
- Collate appropriate supporting documentation to accompany reports.
- Liaise with representatives of collaborating institutions to ensure that all data/reporting/supporting documentation for a specific project is received on a timely basis.
- Liaise with PIs and/or research project managers and administrators to ensure that any in-kind supporting documentation has been collected from external partners.
- Review in-kind provided by external partners to support research projects to ensure that the documentation provided is appropriate and calculated in accordance with the specific sponsor's requirements.
- Maintain accurate, well organized financial project files.
- Conduct budget variance analysis to identify areas of concern and in conjunction with PIs take appropriate action.
- Analysis of PIs' research accounts to assist them in efficiently managing their portfolios and in appropriately spending their research funds.
- Monitor outstanding invoices to ensure that researchers are advised on a timely basis if payment may be an issue.
- Closing Research Accounts
- Monitor accounts that are coming close to their end date to ensure that all funds will be spent appropriately by the end date or that an extension request submitted.
- Ensure that all reporting requirements have been met and all funds have been received.
- Provide advice to PIs over options for resolving surplus or deficit account balances to an alternative eligible account.
- Prepare journal entries to close out the project account.
Research Financial Analyst employer: uwaterloo
At the University of Waterloo, we foster a vibrant and inclusive work culture that empowers our employees to thrive and reach their full potential. As a Research Financial Analyst, you will benefit from comprehensive support and professional development opportunities, all while contributing to impactful research initiatives. Located in a dynamic academic environment, you'll enjoy collaboration with diverse stakeholders and the chance to make meaningful contributions to the university's mission.
