The Manager, Finance will play a lead role in managing Athletics & Recreation’s finances and operations. The Manager serves as a strategic budgeting, planning and finance professional providing expertise, guidance and support. The role is responsible for developing, implementing, and overseeing all the financial resource structures and related activities in the department, in accordance with University policies and procedures and in support of Athletics & Recreation’s goals and objectives. Reporting to the Director, Finance & Administration, Student Affairs, with a dotted line to the Director, Athletics & Recreation, the Manager is responsible for all facets of financial management of the department, including operating funds, budgetary planning, and ensuring timely and detailed financial reporting within the University and to external agencies. The Manager will recommend policies and procedures for implementing changes and will work, closely with the Directors, to secure the appropriate supports for planning, funding and implementation of appropriate systems and processes required for the department to fulfill its strategic mandate. The Manager will supervise a team focused on providing specialized knowledge and understanding of financial policies and procedures to coordinate and process financial transactions for the unit.
Financial Management
In this capacity, the Manager works closely with the Directors to determine financial priorities and plans for the department, and develops, recommends, implements, and monitors the annual budget to ensure that adequate financial controls are in place and that they are in accordance with University policies and procedures. Additionally, the Manager: Budget & Projection Preparation - Effectively plan and coordinate activities to support budget preparation. Develop a budget preparation timeline and take initiative to compile and confirm information
- Compile budgetary information and recommendations from each department within Athletics & Recreation while at the same time balancing the broad departmental vision and providing strategic insight & direction accordingly
- Working collaboratively with area leaders, plan operational and project budget needs by understanding and analyzing plans and fiscal requirements on both a short-and long-term basis.
- Prepare operational and project budgets, review draft financial reports, finalize budgets to meet deadlines, and assist in presentation to the Budget Committee
- Enter all budgets and projections in Hyperion Budgeting System
- Review pre-populated labour data for accuracy and prepare forecasts of cost and FTEs based on discussions with managers
- Prepare budgets and projections for all other revenue and expenses to enable monthly tracking of actuals
- Create detailed back-up schedules for budgeted revenue and expenses
- Explain material changes in budget including year-over-year analysis of revenues, expenses and FTE counts to support historical understanding and future planning.
- Suggest options, strategies and approaches for operational and procedural improvements and cost saving measures
- Comment on risks and opportunities; suggest options
- Provide expert guidance and input on the financial content of the budget narrative; complete required financial schedules-Interpret budget guidelines and advise on matters related to budget presentation and submission
Analyze Actual Results - Monitor and maintain financial obligations, verify and reconcile expenditures of budgeted funds using various financial systems to ensure the accuracy of the department’s financial statements
- Monitor and maintain budgets to ensure operational, including projects, activities are delivered with minimum variance to approved budgets and projections.
- Monitor and address currency and inflation issues impacting the department’s budget
- Produce financial reports to analyze variances compared to budget, projection, and prior year, delivered within five working days of month-end close
- Overall monthly state of finances for the unit and detail by area of responsibility, including analysis of labour charges by employee against the most recent projection
- Quarterly updated projections for revenue and expenditures
- Year-end documentation, including monitoring and interpreting accounts and making financial recommendations
- Schedule monthly meetings with the Director and department managers to review budget status, accounts, budget requests, and identify related financial areas requiring attention
- Provide early warning of projected variances to enable preventive measures
- Arrange for transactions and anomalies requiring correction to be processed, including Mosaic processing items, journal entries, and year-end accruals; identify potential issues of compliance with University and department budget policies and financial procedures
- Communicate any delay in delivering actual results
Strategic Leadership - Provides tactical leadership to the unit as a member of the management team in the department’s on-going strategic planning process
- A true leader who role models leadership behaviours aligned with departmental values focused on inclusive excellence, accountability, and integrity
- A team player who demonstrates an ability to work well with others across the department and the institution more broadly
- Works collaboratively with leaders in support of financial planning and associated recommendations regarding the business of the department
- Develops and reviews strategic business operation plans required for business segments and facilities as units within the department
- Oversees the on-going development and regular production of all relevant data, projections and forecasts that are required to be prepared to support the department’s strategic financial planning process in collaboration and consultation with the department
- Works to develop policies and recommendations in support of the financial success of the business segments within the unit
- Develops sound evaluation methods and mechanisms to demonstrate the achievement of strategic initiatives of the department and demonstrate added value of contribution of business segments to the overall success of the department
Financial Accountability - Directly accountable for the profitability of the business segments within the department
- Ensures strict adherence to and alignment with university policies, procedures, systems, and expectations
- Oversees the establishment and continuing development of department practises to produce financial projections, forecasts, policies and systems for developing budgets, statistical, variance and financial reports as required
- Responsible for implementing all approved decisions to achieve the department’s strategic objectives and desired outcomes related to its budgeting and financial planning
- Oversees the development of systems and processes to identify and resolve problems and improve management of the department’s financial resources
- Recommends strategies for 5 year plan and ensures the strategies are within the parameters established by department, university and other trust funds
- Manages the annual facility operating budget and liaises with the Manager, Facilities regularly
Operational Infrastructure - Responsible for the development, implementation, and monitoring of financial and administrative policies of the department and ensure that all department and university systems in place are operating effectively and efficiently to meet the department’s goals and objectives
- Ensure that all finance and administrative staff are given the continuing direction, guidance and development to contribute effectively with growing efficiency to the department’s strategic objectives and outcomes
- Responsible for developing recommendations and successfully implementing changes in the department’s business and financial processes
Qualifications - Completion of post-secondary education in business, finance, accounting or a related field that supports the role requirements
- Completion of an accounting designation (CPA, CMA, CGA, CA), or 10+ years direct experience in this type of role
- 5+ years working in financial and/or budget management in a public sector environment (or 10+ years direct experiences in this type of role in the absence of an accounting designation)
- Superior facility with data analysis tools such as Excel
- Advanced knowledge of control techniques
- Encourages collaboration and operates in a manner that inspires collaborations with internal and external partners, and the values of teamwork, service excellence, respect, integrity, accountability and inclusivity
- Demonstrates a commitment to equity, diversity and inclusion through the engagement of broad and diverse perspectives to enrich the working environment
- Illustrates exceptional communication skills, with the ability to effectively articulate and explain financial information to a diverse community
- Provides senior leaders with honest, forthright and objective advice in a collegial manner consistent with University culture
- Demonstrates well-developed conceptual, analytical and collaboration skills
- Proven success with analysis and management of new initiatives
- Very strong analytical, quantitative, problem solving and interpersonal skills
- Sets priorities and deadlines to ensure multiple projects and objectives are achieved in a timely manner
- Self-directed with a capacity for managing, executing and evaluating complex, competing projects and initiatives in evolving environments.
- Must be a self starter, independent, and detail-oriented
- Excellent written and verbal communication skills, including active listening skills
- Strong customer service orientation
- Able to exercise judgment and take appropriate action
- Excellent understanding of the organization’s goals, objectives, policies and procedures
- Solid interpersonal and relationship building skills
- Demonstrated ability to work in a collaborative, multi-stakeholder environment
- Ability to be flexible, work in a fast-paced environment and deal with multiple priorities
In the spirit of transparency, please note that the hiring range for this role is typically between $75,373 - $94,216.
For more information, visit McMaster University for MANAGER, FINANCE
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