University of Waterloo

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Financial Officer

Financial Officer

Requisition ID 
Job Category  
5670 - Velocity - Student Innovation
Job Status 
Temporary Appointment (Contract)
Hiring Range 
$53,120 - $66,400

More information about this job


Term: 1 year

The Financial Officer (FO) provides financial information to the Director and Associate Director (AD) to support effective management and strategic planning of Velocity. Reporting to the AD and working with Velocity’s Administrative Assistant (AA), the incumbent’s main priority is to manage Velocity’s budget, which involves assistance with budget creation and evaluation, as well as day-to- day oversight. In addition, the incumbent is responsible for managing the Velocity fundraising program, which includes major corporate donations and sponsorships. The incumbent is also responsible for reporting to federal and provincial government partners including evaluating, reporting and speaking to trends and concerns.


This role is contingent on funding. 


Financial Management & Reporting

  • Works with the senior management, the FO assists in the development of the Velocity’s annual operating budget and long range financial plan
  • Develops and manages accounts financial reports on all Velocity controlled funds, including trust and special purpose government funding grants
  • Gathers, analyzes and reports on Velocity spending
  • Reviews same accounts on a monthly basis and identifies potential issues and initiates corrective action where required
  • Develops, improves and implements strong internal financial controls; ensures that Velocity adheres to the University’s financial policies, procedures, and guidelines
  • Executes the compliance function on all Velocity ORG accounts, communicates eligibility and compliance issues to Velocity staff and provides alternatives for non-conforming items
  • Collaborates with Associate Director on additional finance projects as required
  • Compiles revenue and expenditure summaries for Velocity Annual Report
  • Provides financial reporting of Velocity facilities spending to senior management
  • Oversee the payment of invoices, working closely with the Finance Office
  • Oversees the processing of micro-funding payments to students ($15K per year)
  • Leads the assembly, evaluation and reporting to our funding partners such as Canada Accelerator and Incubator Program, Campus Linked Accelerator Program and others, as required
  • Provides assistance to the Associate Director on other reports such as the University of Waterloo Strategic Plan and other university requests, international entrepreneurship surveys, the Waterloo Region entrepreneurship ecosystem, etc.
  • Manages donor/sponsorship relationships and executes on all related financial transactions
  • Creates contracts for new staff and coop students
  • Oversees the onboarding and exiting of staff (and coop students)

Analysis & Process Improvement

  • Investigates problems, provides analysis and suggests new or improved solutions on Velocity financials
  • Responds to inquiries related to financial issues
  • Creates effective processes and maintains updated documentation on such processes
  • Interprets and clarifies financial policies, procedures and guidelines.
  • Recommends guidelines to track and control expenses
  • Invests in continual process improvement of Velocity financial procedures, controls and reporting standards
  • Maintains clear and open communication with the Velocity team regarding finances



  • Bachelor’s degree with business, economics, accounting or finance orientation
  • 3-5 years of experience in a financial reconciliation and reporting role
  • Knowledge of university working environment and systems, or large, complex, multi-departmental organization
  • Analytical skills, interpersonal, organization and communications skills required
  • Comfort and clarity in explaining accounting information, as well as organizational procedures and policies
  • Thoroughness and accuracy in typing and written correspondence is required
  • Able to work in a small, high performance team environment
  • A strong amount of autonomy is required to monitor financial activity and take initiative to recommend continual process improvements
  • Flexibility is important to work at events after hours and assume tasks that arise as a course of business
  • Integrity, Confidence, Good Judgement and Initiative are valued on the Velocity team