Payments Associate

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Posting Information:
This posting is for an existing vacancy.

This role is being offered as a temporary contract

Term - 2 years

Job Description:

Primary Purpose

The Payments Associate is accountable for the timely and accurate processing and recording payments of non-salary expenses to suppliers, employees and students. The individual is responsible for safeguarding the university’s assets, by adhering to established policies and procedures. Objectives are achieved by reviewing documentation, ensuring compliance, contributing to continuous improvement and influencing best practices.

Key Accountabilities

Process and apply payments in accordance with University policy:

• Review payment transactions for accuracy, appropriate documentation and authorization, in keeping with UW policies and procedures

• Issue payments to suppliers, employees, students and other individuals in various currencies using multiple payment methods

• Apply payment transactions to the General Ledger and reconcile any discrepancies

• Prepare foreign payment transactions, including IACH and wire payments

• Administer returned payments, void and re-issue, as required

• Identify and/or prepare journal entries related to disbursements, stale dating of payments, AP sub-ledger maintenance, etc.

• Resolve unusual or complex issues through interactions with the university’s bank, foreign payment service provider, management within Finance and other Accounts Payable team members

Maintain appropriate system configuration and accurate supplier account records:

• Update supplier payment addresses and banking information, ensuring that University control procedures are followed, and assist in resolving related issues

• Test the payments processes within the ERP system during scheduled upgrades/updates, ensuring the system is optimally configured for payment processing, and assist with issue resolution

• Keep abreast of new advances in the procure to pay process and participate in implementing process improvements, including, but not limited to, security enhancements and fraud prevention measures initiated by financial institutions

• Participate in the month-end/year-end close process

Provide advice, training and direction:

• Work with representatives campus-wide to ensure that university policies and procedures related to payment processing are understood and followed

• Investigate and respond to inquiries and communicate financial information to a diverse set of client groups

• Communicate with stakeholders to answer questions related to the status of the University’s account, outstanding invoices, or obtain information in order to issue payment

Other Duties:

• Participate in, and support other department projects, as required

• Distribute incoming invoices to Expense Associates for processing on a daily basis

• Provide administrative support, as required

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Required Qualifications

Education

• Post-secondary courses in accounting or equivalent education and experience

Experience

• Previous experience in an enterprise-wide computerized accounting environment

• Previous experience in an Accounts Payable role within a Finance/Accounting department

• Experience in applying Accounts Payable processes, procedures and controls in a workplace setting

Knowledge/Skills/Abilities

• Demonstrated ability to prioritize and manage concurrent deadlines accurately and efficiently

• Excellent attention to detail

• Strong analytical and problem solving

• Excellent interpersonal, written, and verbal communication skills

• Tact, judgment, diplomacy and ability to handle confidential information are essential

• Demonstrated ability to work independently

• Advanced MS Office skills including Excel and Word

• Excellent organizational and planning skills

• Comfort and clarity in explaining accounting information, as well as organizational procedures and policies to stakeholders with a limited background on financial matters

Equity Statement

The University of Waterloo acknowledges that much of our work takes place on the traditional territory of the Neutral, Anishinaabeg, and Haudenosaunee peoples. Our main campus is situated on the Haldimand Tract, the land granted to the Six Nations that includes six miles on each side of the Grand River. Our active work toward reconciliation takes place across our campuses through research, learning, teaching, and community building, and is coordinated within the Office of Indigenous Relations.

The University values the diverse and intersectional identities of its students, faculty, and staff. The University regards equity and diversity as an integral part of academic excellence and is committed to accessibility for all employees. The University of Waterloo seeks applicants who embrace our values of equity, anti-racism and inclusion.  As such, we encourage applications from candidates who have been historically disadvantaged and marginalized, including applicants who identify as First Nations, Métis and/or Inuk (Inuit), Black, racialized, a person with a disability, women and/or 2SLGBTQ+.

Positions are open to qualified candidates who are legally entitled to work in Canada.

The University of Waterloo is committed to accessibility for persons with disabilities. If you have any application, interview, or workplace accommodation requests, please contact Human Resources at [email protected] or 519-888-4567, ext. 45935.