City : Hamilton

Category : Other

Industry : Education

Employer : McMaster University

About McMaster University

Ranked as one of the world’s top universities, McMaster University is known for teaching and research excellence. Our purpose is the discovery, communication, and preservation of knowledge. We seek to create a Brighter World through research, focused on the health and well-being of all. Through our teaching, research, and scholarship, we are committed to creativity, innovation, and excellence. We value integrity, quality, inclusiveness, and teamwork in everything we do. We inspire critical thinking, personal growth, and a passion for lifelong learning. We serve the social, cultural, and economic needs of our community and our society.

About Financial Affairs

Financial Affairs provides financial leadership serving the University with strategic performance oversight, financial outlook analysis, and reporting. Financial Affairs manages the University’s financial internal control environment, including regulatory compliance, while also driving continuous improvement initiatives and providing change leadership.

About the Position

Responsible for the record keeping and maintenance of the accounting process for University’s investments, including investment pool, pension funds, compliance reporting and/or monitoring of all Treasury activities including, but not limited to, investment, trading, and financing operations. The ideal candidate would require a basic knowledge of accounting principles, rating agency, regulator and University policies and procedures.

Representative Duties & Responsibilities

• Process various accounting activities within the department including, but not limited to, analysis and record keeping of investment activity (e.g., recording of gains/ losses), income, expenses and accounting, investment manager/consultant related expenses and HST recoveries and the preparation of year-end audit working papers for external audit relating to University investments.
• Perform a range of accounting and record keeping functions for the University Investment Pool, Salaried Pension Plans and Hourly Pension Fund including, but not limited to, the determination of the investment pool unit value, preparation of working papers supporting investment pool, investment returns, and unitization, monitoring, accounting, and settlement of allocated investment and administration expenses charged to the investment pool and pension plans.
• Analyse and develop solutions for complex securities and derivatives transaction settlement issues.
• Prepare monthly and year-end pension fund schedules including contributions, income, gains/losses, termination payments, and expenses.
• Resolve financial statement discrepancies.
• Prepare monthly cash flow forecast for pension funds.
• Prepare monthly and year-end investment schedules including income, gains/losses, and expenses.
• Calculate annual rates of return to determine annual pension payment increases.
• Record and balance Investment Pool income, expenses, gains and losses, and accruals.
• Coordinate with bank and custodian monthly employer and employee pension contribution transfers.
• Provide guidance and make recommendations on the transfer of funds to maintain positive cash position in pension plans.
• Prepare HST Rebate schedules and reports used to calculate refunds for University pension funds.
• Complete Trust Annual Reporting requirements associated with investments.
• Review University and pension funds invoices and submit for payment.
• Write a variety of documents, including, but not limited to, performance reports for University and pension funds on a semi-annual basis.
• Adhere to established departmental and University deadlines.
• Prepare reconciliation of custodial reports to investment manager monthly statements.
• Create and update spreadsheets to input and track financial information.
• Adapt to changes in software and policies by attending courses and exchanging information with field experts.
• Act as a resource to staff and departments and external agencies and respond to inquiries and transactions pertaining to financial issues.
• Answer inquiries via telephone and e-mail regarding financial matters.
• Utilize standard mathematical skills to generate formulas and equations to perform a variety of calculations

Qualifications

• Bachelor's degree in Investments Accounting, Finance, Auditing, or related field.
• Requires 3 year of relevant experience.