BUDGET & FINANCIAL ANALYST

About Faculty of Engineering

Ranked among the top engineering schools in Canada and worldwide, the Faculty of Engineering has a reputation for innovative programs, cutting-edge research, leading faculty, and aspiring students. Engineering faculty, staff and students at McMaster pursue research and learning in more than 22 research centres, institutes and networks whose interdisciplinary pursuits cross departmental and faculty boundaries. Outside the University, we regularly collaborate on research projects with partners in universities, the government and more than 100 companies in Canada and abroad.

About the position

The Budget and Financial Analyst (II) will support the financial activities within the Faculty of Engineering, with a particular emphasis on providing budgetary and financial reporting support for operating and trust accounts.

Responsible for managing the financial activities within a unit or department including tracking revenue, authorizing expenditures, developing and implementing budgets, and reconciling and reporting year end financials. Ensures financial activities are performed effectively and all relevant policies, procedures, contracts and legislations are adhered to. Provides supervision to other staff.

• Develop financial policies and procedures.
• Analyze financial information to aid in the development and implementation of short-term and long-term financial planning.
• Develop multi-year budgets for review and approval.
• Project revenues and prepare detailed calculations of projected compensation costs and other expenditures.
• Prepare budget appropriation adjustments required after the approval of the original budget.
• Prepare working papers and consolidate information in accordance with financial auditor requirements.
• Develop estimates of time, resources, and budgets for various program activities and events.
• Plan and coordinate timetables and budget processes for budget review with various departments.
• Meet with departments to review resource plans in order to prepare financial projections.
• Coordinate and schedule data flow and financial information required for the preparation and development of detailed financial statements.
• Scrutinize, analyze, and reconcile detailed financial reports and records.
• Monitor and investigate error and exception reports.
• Analyze business processes to ensure efficiency and proper controls for accurate financial reporting and the safeguarding of assets. Recommend changes to improve processes.
• Act as a resource to staff, departments, and external agencies, and respond to inquiries, questions and concerns pertaining to financial issues.
• Provide advice on the restructuring of accounts for proper management control and streamlined reporting.
• Coordinate the collection, verification, analysis and reporting of financial data.
• Interpret and communicate applicable financial policies, procedures and guidelines to others.
• Assist with internal and external audits by preparing audit files and responding to auditor inquiries.
• Develop and deliver training and information sessions.
• Analyze data and assess for reasonableness.
• Develop budgets for review and approval.
• Implement and maintain budgets. Create financial projections and make adjustments to budgets throughout the fiscal year.
• Exercise appropriate controls, monitor, and reconcile accounts.
• Write a variety of document and reports such as procedure manuals, accounting reports, and financial statements.
• Perform various analyses and reconciliations of accounts.
• Generate reports and account statements and review for accuracy.
• Provide training and guidance to others on relevant accounting procedures and the use of financial systems.
• Calculate, prepare and issue invoices, cheques, account statements and other financial statements according to established procedures.
• Receive, send, sort, verify, process and prepare various documents such as purchase orders, invoices, cheque requisitions, receivables, and payables.
• Process, verify, and balance financial records and business transactions, such as accounts payable, accounts receivable, and payroll.
• Investigate discrepancies using established procedures.
• Monitor and reconcile statements and participate in the reconciliation of accounts.
• Prepare and generate a variety of scheduled and ad hoc reports.
• Update, maintain, and verify information in a variety of spreadsheets and databases.
• Balance and control cash receipts, including floats, petty cash and cheques.
• Apply standard mathematical skills such as calculations, formulas, and equations to perform a variety of calculations.
• Create spreadsheets including complex formulas and equations.
• Answer complex inquiries via telephone, email, and in person that are specific in nature and require a specialized knowledge of policies and procedures.
• Maintain filing systems, both electronic and hard copy.

Supervision: Supervise and direct the activities of up to 4 continuing employees.

Requirements:

Bachelor's degree in Finance, Accounting, Economics, or relevant field of study.

Requires 5 years of relevant experience, including one year of supervisory experience

Assets:

Advanced spreadsheet and data management skills.

A recognized Canadian professional accounting designation (or working towards completion).

To apply for this job, please submit your application online.

McMaster University is located on the traditional territories of the Haudenosaunee and Mississauga Nations and within the lands protected by the “Dish With One Spoon” wampum agreement.

The diversity of our workforce is at the core of our innovation and creativity and strengthens our research and teaching excellence. In keeping with its Statement on Building an Inclusive Community with a Shared Purpose, McMaster University strives to embody the values of respect, collaboration and diversity, and has a strong commitment to employment equity.

The University seeks qualified candidates who share our commitment to equity and inclusion, who will contribute to the diversification of ideas and perspectives, and especially welcomes applications from indigenous (First Nations, Métis or Inuit) peoples, members of racialized communities, persons with disabilities, women, and persons who identify as 2SLGBTQ+.

As part of McMaster's commitment, all applicants are invited to complete a confidential Applicant Diversity Survey through the online application submission process. The Survey questionnaire requests voluntary self-identification in relation to equity-seeking groups that have historically faced and continue to face barriers in employment. Please refer to the Applicant Diversity Survey - Statement of Collection for additional information.

Job applicants requiring accommodation to participate in the hiring process should contact:

• Human Resources Service Centre at -HR (22247), or
• Faculty of Health Sciences HR Office at ext. 22207, or
• School of Graduate Studies at ext. 23679

to communicate accommodation needs.

To ensure an ongoing and vibrant University community that meets the needs of our students, staff and faculty and supports the University mission, ability to work on-site continues to be a requirement for most University positions. The University is supportive of exploring flexible work arrangements that effectively balance operational needs and employee interests.