University of Waterloo

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Financial Analyst

Financial Analyst

Requisition ID 
2017-2090
Job Category  
Finance
Department 
6050 - Bookstore
Job Status 
Regular Full-Time
Hiring Range 
$44,335 - $55,419

More information about this job

Overview

The Financial Analyst is accountable to the Financial Officer for analyzing financial data, populating financial models to conduct analysis and benchmarking against the departmental budget and goals. In addition, the incumbent will be responsible for processing AP invoices, credits, and investigating any outstanding vendor balances.

Responsibilities

Accounts Payable

  • Processes all invoices and credits, ensuring the proper authorization is in place and appropriate backup is provided. Follows up with Retail Services business unit managers as needed if either is not provided, and defers to the Financial Officer when necessary
  • Analyzes and calculates prices, taxes, and discounts on goods received from vendors
  • Keeps up to date on all university accounts payable (AP) policies as applicable
  • Establishes and maintains a filing system for all AP records, both electronic and hard copy, according to university and Retail Services financial policies
  • Resolves any discrepancies on vendor statements through analyzing backup correspondence with vendors, buyers, and receiving personnel in order to resolve differences

Daily Deposit and Reconciliations

  • Reconciles daily sales transactions, ensuring any overages and shortages are investigated and resolved in a timely manner. Total revenues for Retail Services are over $14 million annually. Retail Services uses 19 different tender types including cash, credit cards, department charges, and e-commerce transactions
  • Ensure cash controls are followed in all areas of Retail Services
  • Gain understanding and efficiency in fully integrated Point of Sale (POS) and inventory tracking system to investigate and recommend solutions on any variances
  • Oversight of Retail Services loyalty program, including redemption of reward points and analysis of yearly cost vs benefit
  • Independently resolve any interdepartmental queries regarding charges made to department account numbers
  • Manages the petty cash fund for the department, including reimbursement and safe keeping
  • Ensures adequate cash floats are maintained, including oversight and periodic audits of total safe counts

Financial Analysis

  • The incumbent is responsible for understanding transactions that are applied to the income statement and will post journal entries to correct misallocations
  • Assists the Financial Officer with forecasting expenses monthly and engages with business unit managers to answer questions and/or assist with understanding financial reports
  • Responds to inquiries from the campus relating to charges applied to their monthly expense statements issued by the university
  • Assists with updating Key Performance Indicator dashboards
  • Maintains up-to-date knowledge of accounting procedures, best business practices, and government and university policies and procedures, in order to apply sound judgment and recommend improvements
  • Constantly evaluates internal processes for opportunities for improvement and provides leadership in implementing these improvements where approved
  • Provides training, mentoring, and/or leadership to Retail Services team members in order to meet objectives, improve processes, and upgrade systems.
  • Performs ad-hoc reporting as various business needs arise
  • Reviews accounting reports prepared by Finance including, but not limited to, annual credit reports to resolve any outstanding AP items
  • Creates reports for analysis and trending of expenditures as requested by the Financial Officer or other managers within Retail Services. Reconciles invoices where required for internal reporting
  • Posts month-end journal entries, as required
  • As a key member of the Accounting team, the incumbent will assist in other areas including cash reconciliations, inventory procedures, providing audit support, and providing general administrative support as required

Collaboration

  • Interacts regularly with all Retail Services staff and supports cross-promotion of products and services wherever possible
  • Establishes and maintains strong partnerships and relationships with units throughout the university and the affiliated colleges that help Retail Services achieve its goals, while ensuring that Retail Services is represented professionally
  • Communicates accounting information to clients who often have little or no accounting experience, in order to achieve accurate financial accounting and reporting and to resolve issues
  • Participates in evaluating business and accounting-related issues (identifying problems, researching alternatives, preparing analyses, and making recommendations)
  • Represents the Accounting team on cross-functional projects, providing appropriate accounting, business, and technical expertise. Participation may include developing policies/procedures, effecting change, providing training, testing, etc. The incumbent may be required to assume functional responsibility for specific aspects of the project

Customer Service

  • Commits to positive interactions with all customers and provides appropriate level of assistance regardless of situation or location
  • Ensures that all customer inquiries are handled in a professional, timely manner; and in cases when customers should be redirected to other staff, the incumbent will ensure that the redirection is complete and that the customer is not left without service

Qualifications

  • University degree with a focus on accounting, and business courses, or equivalent combination of education and/or experience
  • Progression toward or completion of an accounting designation is preferred
  • At least three years of relevant experience in a computerized accounting environment
  • Understanding of Generally Accepted Accounting Principals, internal controls, budgeting and Accounts Payable processes
  • Business acumen and exceptional analytical skills
  • Critical thinking
  • Excellent written and verbal communication skills
  • Interpersonal skills and relationship-building
  • Technical skills:
    • MS Word: Intermediate
    • MS Excel: Advanced
    • Familiarity with Sharepoint
    • Proficiency with computerized accounting module (within a retail environment preferred)