Associate Director, Financial Reporting and Endowment & Restricted Accounting

at  McGill University

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Position Summary:
Reporting to the Controller, the incumbent will play a pivotal role in the internal and external reporting of the University’s financial position and fiscal year-end audits. Major responsibilities include overseeing administration of restricted and endowment funds, ensuring compliance with policies and regulations, and the preparation of financial statements and reports. This includes quarterly and annual profit and loss statements, financial statement analysis, the compilation of specialized reports involving the University’s affiliated hospitals, and the preparation and delivery of governmental and statistical reports. Provide professional expertise and support in the development, implementation and enforcement of University accounting and reporting policies and procedures and special projects. The incumbent will also work closely with senior administration in several high-profile units such as University Advancement, Office of Investments, Research Financial Management Services and Analysis Planning and Budget Office.

Primary Responsibilities:

• Provide accounting services to support the recording and internal and/or external reporting of the University’s financial position and ensure an accurate reflection of the University’s financial position through the formulation, administration, and implementation of generally accepted accounting principles, regulations, and controls.
• Oversee quarterly analysis of profit and loss results of Endowment and Restricted funds to explain variances, look for inconsistencies and trends, communicate results to various levels of management.
• Lead and supervise a team of 2-4 employees (unionized and management); develop performance measurements, provide coaching.
• Works in partnership with all units within Financial Services, Faculties/departments, Affiliate Universities, as well as other appropriate units within the University
• Participate in establishing strategic direction of the unit and oversee implementation of short and long-term plans required for the efficient delivery of accounting services.
• Advise Controller and other senior professionals on development and implementation of policies, processes and guidelines that support unit initiatives.
• Oversee Restricted and Endowment year-end and interim audit.
• Resource person for Faculty Financial Officers in faculties and units
• Monitor progress and results of the University on a quarterly and annual basis.
• Deliver or support the delivery of accounting services in situations involving diverse practices and precedents.
• Approve opening and closure of all non-research and endowment funds, including the review of new donation agreements and coding all Non-research and Endowment funds to ensure funds characteristics reflect the donors and McGill’s guidelines for usage of funds and financial reporting requirements.
• Undertake in-depth analysis of highly complex accounting issues, assess impact to the University/unit, articulate alternatives and recommend/implement solutions.
• Ensure implementation of new initiatives that support the strategic direction of the department/unit by keeping abreast of new developments and trends in field of expertise.
• Represent unit at internal and/or external meetings.
• Manages and participates in the preparation of internal and external financial reporting requirements (quarterly financial statements, annual financial statements, US GAAP financial statements, SIFU, Bill 95, FIUC/CAUBO questionnaire, AFMC, Statistics Canada reports, IRS returns, Charity returns, other ad-hoc reports)
• Directs and prepares the annual “Financial Statement Analysis” with respective Financial Services fund owners;
• Performs ad-hoc analyses of financial information as required by management.
• Oversee and prepare the financial reporting of Restricted and Endowment funds.
• In conjunction with Reporting Services, recommends and implements financial reports for senior-management to facilitate the review and monitoring of operations at various levels of the University.
• Review all Non-Research Restricted and Endowment Fund donor financial statements.
• Oversee accounting for all short-term investments in collaboration with Treasury department
• Oversee the year-end endowment carry-forward and capitalization process.
• Final approver on all journals, LOG’s, requisitions, deposits & payment requests in excess of $100,000 on all non-research restricted and endowment funds, to ensure MOA’s and donors requests for fund usage is maintained.
• Prepare and perform the accrual-based accounting adjustments for all restricted (research and non-research) and endowment funds.
• Evaluates Banner and other system upgrades changes in order to maintain efficiencies in Endowment and Non-research restricted fund modules.
• Subject matter expert on all matters pertaining to endowment accounting:
• Oversee all endowment accounting functions. Ensure capital is preserved, McGill endowment policy is maintained and units/income assigned on a per fund basis are accurate.
• Calculate McGill Investment Pools (MIP) unit rate on a quarterly basis and MIP distribution rate on an annual basis.

Other Qualifying Skills and/or Abilities
Professional accounting designation required (CPA), CPA Auditor preferred. Previous experience as a Financial Auditor is considered a definite asset. Excellent knowledge of generally accepted accounting principles (GAAP) and auditing standards, including university and non-profit accounting practices to provide valuable input to management. Highly organized and proven ability to delegate appropriately. Proven leadership and team building skills and demonstrated ability to supervise, train, motivate and evaluate staff. Ability to work under pressure, to prioritize and meet specific deadlines, to work autonomously and as part of a team. Resourceful, with the capacity to make decisions independently. Excellent communication and interpersonal skills with all levels of staff. English and French spoken and written. Good knowledge and facility in working in a PC environment using Excel spreadsheets, databases. Demonstrated knowledge of McGill policies and procedures, as well as the chart of accounts along with Crystal Reports and BANNER FIS will be considered a definite asset.
Knowledge of French and English: McGill University is an English-language university where day to day duties may require English communication both verbally and in writing. The level of English required for this position has been assessed at a level # 4 on a scale of 0-4.
Minimum Education and Experience:
Bachelor’s Degree 5 Years Related Experience /
Annual Salary:
(MPEX Grade 07) $88,830.00 - $111,040.00 - $133,250.00
Job Profile:
MPEX-FIN3B - Accounting - Senior Professional/Manager
Hours per Week:
33.75 (Full time)
Supervisor:
Controller
Position End Date (If applicable):
2025-09-30
Deadline to Apply:
2024-07-31
McGill University hires on the basis of merit and is strongly committed to equity and diversity within its community. We welcome applications from racialized persons/visible minorities, women, Indigenous persons, persons with disabilities, ethnic minorities, and persons of minority sexual orientations and gender identities, as well as from all qualified candidates with the skills and knowledge to productively engage with diverse communities. McGill implements an employment equity program and encourages members of designated groups to self-identify. Persons with disabilities who anticipate needing accommodations for any part of the application process may contact, in confidence,
accessibilityrequest.hr@mcgill.ca.

• Provide accounting services to support the recording and internal and/or external reporting of the University’s financial position and ensure an accurate reflection of the University’s financial position through the formulation, administration, and implementation of generally accepted accounting principles, regulations, and controls.
• Oversee quarterly analysis of profit and loss results of Endowment and Restricted funds to explain variances, look for inconsistencies and trends, communicate results to various levels of management.
• Lead and supervise a team of 2-4 employees (unionized and management); develop performance measurements, provide coaching.
• Works in partnership with all units within Financial Services, Faculties/departments, Affiliate Universities, as well as other appropriate units within the University
• Participate in establishing strategic direction of the unit and oversee implementation of short and long-term plans required for the efficient delivery of accounting services.
• Advise Controller and other senior professionals on development and implementation of policies, processes and guidelines that support unit initiatives.
• Oversee Restricted and Endowment year-end and interim audit.
• Resource person for Faculty Financial Officers in faculties and units
• Monitor progress and results of the University on a quarterly and annual basis.
• Deliver or support the delivery of accounting services in situations involving diverse practices and precedents.
• Approve opening and closure of all non-research and endowment funds, including the review of new donation agreements and coding all Non-research and Endowment funds to ensure funds characteristics reflect the donors and McGill’s guidelines for usage of funds and financial reporting requirements.
• Undertake in-depth analysis of highly complex accounting issues, assess impact to the University/unit, articulate alternatives and recommend/implement solutions.
• Ensure implementation of new initiatives that support the strategic direction of the department/unit by keeping abreast of new developments and trends in field of expertise.
• Represent unit at internal and/or external meetings.
• Manages and participates in the preparation of internal and external financial reporting requirements (quarterly financial statements, annual financial statements, US GAAP financial statements, SIFU, Bill 95, FIUC/CAUBO questionnaire, AFMC, Statistics Canada reports, IRS returns, Charity returns, other ad-hoc reports)
• Directs and prepares the annual “Financial Statement Analysis” with respective Financial Services fund owners;
• Performs ad-hoc analyses of financial information as required by management.
• Oversee and prepare the financial reporting of Restricted and Endowment funds.
• In conjunction with Reporting Services, recommends and implements financial reports for senior-management to facilitate the review and monitoring of operations at various levels of the University.
• Review all Non-Research Restricted and Endowment Fund donor financial statements.
• Oversee accounting for all short-term investments in collaboration with Treasury department
• Oversee the year-end endowment carry-forward and capitalization process.
• Final approver on all journals, LOG’s, requisitions, deposits & payment requests in excess of $100,000 on all non-research restricted and endowment funds, to ensure MOA’s and donors requests for fund usage is maintained.
• Prepare and perform the accrual-based accounting adjustments for all restricted (research and non-research) and endowment funds.
• Evaluates Banner and other system upgrades changes in order to maintain efficiencies in Endowment and Non-research restricted fund modules.
• Subject matter expert on all matters pertaining to endowment accounting:
• Oversee all endowment accounting functions. Ensure capital is preserved, McGill endowment policy is maintained and units/income assigned on a per fund basis are accurate.
• Calculate McGill Investment Pools (MIP) unit rate on a quarterly basis and MIP distribution rate on an annual basis