Senior Financial Analyst – External Funds Management
The Senior Financial Analyst, External Funds Management is responsible for performing a range of financial management work related to the financial administration of donor contributions. More specifically, the incumbent prepares all financial reports related to donor contribution agreements — whether the agreement covers a single project or an entire program.
In addition, the Senior Financial Analyst is responsible for properly recording all donor contribution receivables and revenues in accordance with the donor agreements and accounting principles.
The Senior Financial Analyst prepares the annual project-based operational budget. In doing so, the incumbent liaises with Program Managers to gather information on the planned activities of donor funded programs.
Primary Duties or Responsibilities
Financial Reporting on Donor Contribution Agreements
The Senior Financial Analyst is responsible for administering all financial reporting aspects of donor contribution agreements (whether project specific or program-wide). Which includes but is not necessarily limited to :
• Records donor agreement details in IDRC’s financial system as well as the grants and project management system;
• Assist the Manager in the development of the financial accounting structure for complex projects and externally funded programs;
• Prepares the financial accounting structure for donor-funded programs;
• Verifies allocations and commitments of external funds to ensure compliance with the donor agreement. When necessary, follow up with the relevant Grant Administration Officer in Ottawa or in the regional office;
• Prepare cash flow projections for donor funded projects and programs;
• Prepare donor financial reports and invoices as per the requirements of the agreements; and
• Establishes, in collaboration with the program manager, the annual operational budget of donor-funded programs.
Administration of Donor Contribution Receivables and Revenues
The Senior Financial Analyst is responsible for properly recording all donor contribution receivables and revenues in a timely manner for the monthly corporate financial statements to be produced. The Senior Financial Analyst ensures that the revenues for the recovery of the administrative costs are properly recorded. This includes the following duties:
• Identify and transfer the cost centre expenses funded by Donors to the appropriate project for revenue recognition and advise the responsible Grant Administration officer (in Ottawa or in the relevant regional office);
• Analyse project expenditures to determine the amount to chargeback against the donor agreement;
• Prepare monthly journal voucher to record the donor contribution revenue in accordance to the donor agreement and reconcile the deferred revenue accounts;
• Calculate any interest earned on donor funds and adjust the deferred revenue account accordingly; recommend adjustments to the project or program funding;
• Monitor the exchange rates fluctuations on each donor agreement and recommend adjustments to the project or program funding if necessary;
• Review, on a monthly basis, donor contribution portfolio reports to identify errors, discrepancies and variances and ensure follow-up is performed and necessary adjustments are processed;
• Review donor agreement files for closure action, ensuring that all donor requirements have been met, and follow up with Program and Grant Administration staff in Ottawa or in regional offices;
• Collaborate with Grant Administration staff on the closure of individual projects within Externally funded programs; and
• Enter cash receipts for donor agreement in the centre’s information system.
Program Management Support
The Senior Financial Analyst provides project management support to program and project staff on financial matters related to donor contribution agreements. In doing so, the Senior Financial Analyst liaises with the Grant Administration staff who is responsible for the overall project administration functions (in Ottawa or regional offices).
• Prepare, in consultation with program managers or project staff, the annual operational budgets of externally funded programs and cost centre based projects and revise them as required;
• Prepare various donor contribution reports, including a list of active donor-funded projects, current year allocations of external funds and contracts under negotiation and circulate these reports to program staff;
• Prepare various quarterly reports on donor contribution and externally funded programs;
• Monitor and analyse the project or program financial results and provide financial performance information to program managers;
• Advise managers responsible for externally funded programs of allocation targets established by Manager;
• Provide various reports on Donor contribution revenues, receivables and cost centre expenses to other areas of the Division and PPB; and
• Respond to ad hoc requests for information from program/project managers.
General Financial Management Support
• Provide guidance and direction to Regional Office staff on matters relating to the reporting and administration of donor partnerships;
• Support the Manager in the review and development of policies and procedures affecting the administration of External funds;
• Participate in the identification of the business requirements for the development and enhancement of financial information systems;
• Identify specifications for reports related to donor contributions;
• Perform user acceptance testing;
• Provide assistance to external auditors conducting audits of donor funded projects;
• Participate in year-end processes by gathering sample documents, answering queries and providing reports/schedules on donor contribution revenues to staff of the Office of the Auditor General;
• Prepare and send audit confirmation letters to donor partners selected by the Office of the Auditor General in its financial audit of IDRC;
• Assist the Manager in the preparation of regular and ad-hoc reports on donor contribution revenues for Centre management and the Finance and Audit Committee of the Board of Governors;
• Adhere to corporate policies and procedures regarding electronic filing;
• Support the Manager, External Funds Management in the discharge of his/her responsibilities; and
• Undertake other duties/assignments as required by the Manager.
The Senior Financial Analyst position is essential for the proper administration, financial management and financial reporting of donor agreements and related donor contribution revenues.
The Senior Financial Analyst ensures that all financial reporting to donors is accurate and in accordance with the agreements. As well, the Senior Financial Analyst must ensure that all donor contribution receivables and revenues are accurately recorded and reported.
Donor contributions represent an increasing portion of the Centre research development activities. The overall value of external funds agreements exceeds $250 million with annual revenues in excess of $50 million.