Financial Officer

at  McGill University

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Position Summary:
Reporting to the Senior Financial Officer, Office of the Vice-President (Research & Innovation), the Financial Officer (FO) will manage all aspects of budgeting and accounting for I+P using generally accepted accounting principles, regulations, reporting and controls. The FO will prepare annual budgets, forecasts, expense analyses, and financial reports and present these to the Director (I&P), Senior Financial Officer, Office of the Vice-President (Research & Innovation) and other stakeholders at the University. The FO will execute a variety of accounting and budget transactions, ensure accounting and reporting goals are met and adhere to best practices and accounting principles.
The FO will ensure all existing financial procedures for the department to ensure that they adhere to generally accepted accounting practices, conform with I+P’s move towards a paperless environment, increase efficiency and accuracy, and ultimately allow conformance to findings from an internal audit. They will also be tasked with consolidating financial information from different sources into one central database and ensuring that existing information is accurate and complete.

Primary Responsibilities

• Manage the financial aspects of patents, licenses and other agreements.
• Responsible for preparing timely reports to the Director and the Senior Financial Officer on all administrative, statistics or financial matters that may be required to monitor or describe technology transfer and commercialization activities.
• Develop processes and procedures to ensure information in databases pertaining to patents, licenses and royalties is in line with information in the University’s financial system. Continue to implement new and improved practices.
• Ensure the proper segregation of duties for our financial transactions to adhere with best practices and internal audit findings.
• Ensure license payment terms are invoiced properly and mange the process with Accounts Receivable.
• Collaborate with the Patent Portfolio & Database Manager to design procedures that will harness the full potential of our software regarding automation of tasks, production of reports, license compliance and other aspects of our finances.
• Supervise a variety of accounting and budget transactions, including journal entries, accounts payable, accounts receivable and other functions.
• Develop annual fiscal year budgets and projections for patent expenses and core operating.
• Initiate cyclical control measures, including error reports, reconciliation of central funds, inactivity, variances, and over-expenditures.
• Manage the information related to university spinoffs, including incorporation documents, shareholder agreements and equity documents. Ensure that the University’s portfolio of spinoff equity is properly recorded and accounted for.
• Ensure documentation of financial procedures is in place. Provide training for staff regarding accounting concepts or procedures.
• Oversee revenue distribution to the relevant parties and ensure that it is carried out in accordance with university policies.

Other Qualifying Skills and/or Abilities:

• Function with an exceptional level of accuracy, strategic judgment, and efficiency.
• Excellent problem-solving skills.
• Experience with reconstructing incomplete financial records.
• Able to identify and analyze structural problems, determine root causes, and implement the appropriate solutions.
• Strong bookkeeping and organizational skills.
• Excellent computer skills and adaptability to new software.
• Proficiency in use of MS Office software in a PC environment, with excellent knowledge of Excel.
• Working knowledge or experience using Banner (FIS), Minerva, Crystal Reports, and other database systems is an asset.

« Connaissance du français et de l’anglais: L’Université McGill est une université de langue anglaise où les tâches quotidiennes peuvent nécessiter une communication verbale et écrite en anglais. Le niveau d’anglais requis pour ce poste a été déterminé comme étant de niveau # 4 sur une échelle de 0-4.»
“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 3 Years Related Experience with Bachelor’s Degree /
Annual Salary:
(MPEX Grade 05) $70,820.00 - $88,530.00 - $106,240.00
Job Profile:
MPEX-FIN2B - Accounting - Professional 2
Hours per Week:
33.75 (Full time)
Supervisor:
Senior Financial Officer
Position End Date (If applicable):
Deadline to Apply:
2025-02-07
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.

• Manage the financial aspects of patents, licenses and other agreements.
• Responsible for preparing timely reports to the Director and the Senior Financial Officer on all administrative, statistics or financial matters that may be required to monitor or describe technology transfer and commercialization activities.
• Develop processes and procedures to ensure information in databases pertaining to patents, licenses and royalties is in line with information in the University’s financial system. Continue to implement new and improved practices.
• Ensure the proper segregation of duties for our financial transactions to adhere with best practices and internal audit findings.
• Ensure license payment terms are invoiced properly and mange the process with Accounts Receivable.
• Collaborate with the Patent Portfolio & Database Manager to design procedures that will harness the full potential of our software regarding automation of tasks, production of reports, license compliance and other aspects of our finances.
• Supervise a variety of accounting and budget transactions, including journal entries, accounts payable, accounts receivable and other functions.
• Develop annual fiscal year budgets and projections for patent expenses and core operating.
• Initiate cyclical control measures, including error reports, reconciliation of central funds, inactivity, variances, and over-expenditures.
• Manage the information related to university spinoffs, including incorporation documents, shareholder agreements and equity documents. Ensure that the University’s portfolio of spinoff equity is properly recorded and accounted for.
• Ensure documentation of financial procedures is in place. Provide training for staff regarding accounting concepts or procedures.
• Oversee revenue distribution to the relevant parties and ensure that it is carried out in accordance with university policies