Financial Administrator

SUMMARY:

The Financial Administrator’s position is intended to provide Planning, Organization and Direction of the financial affairs of the company.

PRIMARY RESPONSIBILITIES:-

• The Finance Administrator has to prepare annual budget of the organization.
• Attending Finance / Audit Committee meetings as required.
• Providing advice to the Board’s Financial/Audit Committee as requested.
• Maintaining and updating charter of accounts.
• Maintaining an up-to-date asset register for the organization.
• Maintaining adequate and appropriate insurance cover for the organization.
• Receipting and banking of all monies as required, payment of accounts, preparation and filing of cheque requisitions.
• Should monitor the budget to ensure conformance with provisions of the budget.
• Should establish/maintain appropriate accounting procedures that comply with rules and regulations of the organization.
• Prepare reports for the various entities requiring reports.
• The Finance Administrator shares ultimate responsibility for compliance.
• This position has the responsibility of managing organization’s finances.
• The Finance Administrator should reconcile individual expenses to the award amount.
• Prepares non-financial reports.
• Seeks the advice and approval of higher authority resources for guidance on proper procedures and resolution of compliance issues, Resources include:
  1. Pre-Award Office(s).
  2. Office of Sponsored Programs.
  3. Management Centers.
• Prepares and/or approves documents for sponsored projects:
  1. Financial.
  2. Human resources.
  3. Other documents.
• Ensures proper documentation is maintained.
• Serves as an advisor to the Chief Financial Officer on financial/administrative matters.
• Reports/investigates instances of unresolved financial non-compliance.
• Oversees all monies received and the investment of those monies.
• Exercises budgetary control including payrolls, purchasing of supplies and equipment.
• Supervises employees engaged in the preparation and maintenance of financial records, budgets, inventories, accounts receivable, accounts payable and other specialized activities.
• Reviews cost reports, cost based reimbursement programs to monitor the financial and operating efficiency of the agency based on existing funds and advises the director and/or other program staff.
• Some of the duties a Financial Administrator may be required to undertake include:
  1. Protecting assets.
  2. Dealing with personal property and real estate.
  3. Collecting income, such as dividends from shares, rents, pension entitlements or
  Interests.
  4. Developing a budget management plan.
  5. Paying bills and accounts.
  6. Developing and maintaining an appropriate investment portfolio.
  7. Completing tax returns.
  8. Liaising with government, community and private agencies.
  9. providing full financial statements to appropriate authorities.
  
  

KNOWLEDGE AND SKILLS REQUIRED:

• Must possess considerable knowledge of the various requirements of revenues for appropriate expenditures and reporting requirements.
• Knowledge of the basic principles and standard practices of governmental accounting.
• Knowledge of budget preparation and control.
• Knowledge of grant procedures and practices.
• Familiarity with computers and computer applications.
• Ability to effectively communicate and deal with people.
• Four year degree from a college or university with a major in accounting, business administration, public administration or a directly related field.
• Five(5) years of experience in accounting, business administration, public administration, which includes experience in budgeting, accounting, payroll and accounts payable is mandatory.
• Proficient financial administration skills.
• Experience in working in a team based culture and contributing positively to team based decision making.
• Previous experience in accounting and budget preparation including forecasting and reviews.