Senior Financial Planning Analyst

About the Department of Financial Services

Mount Royal University’s Financial Services is responsible for the accurate and timely recording, analysis and reporting of all financial information for the University, MRU Foundation, and Mount Royal Early Learning Centre. The Department comprises of functional areas and provides the following key services:

• Financial Reporting
• Commerce & Receivables
• Payables & Expense Management
• Procurement
• Budget & Resource Planning
• Treasury & Investment
• Internal Control Framework 

About the Role

Reporting to the Manager, Resource Planning, this position provides hands on support in coordinating and capturing the University’s budget through each three-year budget cycle, ensuring proper representation of the Institution’s approved annual business plan. As a Senior Financial Planning Analyst, you will be responsible for analyzing financial data, preparing budget reports, and managing budget systems and models, in support of efficient allocation of resources to support organizational objectives. You will work closely with stakeholder to support budget development, monitor spending, and identify areas for cost savings and improvement. The Senior Financial Planning Analyst, Resource Planning provides expert knowledge and advice from an institutional perspective on the financial planning and reporting needs of the University, ensuring relevant, timely and accurate financial analysis, reporting and accountability for the University and its' controlled entities. This position is involved in preparing the financial analysis of major components of the University, data management, and maintenance of budget systems. The incumbent is responsible for the development of budget and financial reports, developing procedures and supporting systematic tools to meet the changing requirements of the University and its stakeholders.

Responsibilities

BUDGET DEVELOPMENT AND DECISION SUPPORT

• Prepare and develop calculations, estimates, forecasting and variance analysis for key budget revenue and expense drivers.
• Perform analytical review and examination of divisional and departmental budget information for accuracy, compliance, completeness and reasonableness.
• Support preparation of complex detailed financial analysis and reports that capture the University's 3 year operating and capital budgets through the annual budget development cycle to ensure comprehensive, cohesive, accurate representation of the Institution's pre-Board approved budget plan.
• Develop and recommend new models and strategies for improving accuracy and efficiency related to significant financial budget estimates such as labour, benefit expenditures, grants, tuition and fees.
• Monitor and analyze significant financial components for future budget planning and variance analysis.
• Capture and support communication of the budget directions related to development of the upcoming operating and capital budget; direct distribution of preliminary budget projections to divisional offices.
• Review and maintain the budget account structure in accordance with Provincial government reporting regulations and management needs; maintain budget data to ensure auditability for subsequent budget development and revisions.
• Monitor and ensure compliance gaps are appropriately addressed in budget reporting and ensure that government requirements (Ministry of Advanced Education) are met through the development and reporting of the three-year budget.
• Assess and analyze business processes and system needs; identifying implications of issues and making recommendations for improvements or re-design to ensure optimal efficiency and effectiveness in reaching organizational objectives.
• Provide support as needed to project-based initiatives to improve the budget development and resource allocation processes at the University.

REPORTING, ANALYSIS AND REGULATORY COMPLIANCE

• Support strategic and operational decision making by developing and preparing financial analysis and reports required by internal users to support their decision- making needs. At the same time, ensuring that the required documentation standards are considered from both an operational and audit perspective.
• Analyze and compile data from a variety of sources and prepare long-range projections, as well as immediate impact analysis to support decision making related to operating performance, proposed program and service changes, capital expenditures, labour negotiation impacts, and any other ad hoc decision requirements.
• Review and recommend for consideration changes to significant financial projections and estimates, which impact the overall institutional financial position to inform the annual and three-year strategic and budget planning cycle.
• Develop and test financial estimates based on historical trends, apply profiles and analytics to ensure the most accurate presentation for the purposes of budgeting, variance reporting, and all other financial reporting; monitor and analyze significant financial components for future budget planning and variance analysis support.
• Design reporting to ensure accuracy, completeness and consistency; prepare accurate and complete analysis based on a solid understanding of the applicable business drivers and their related impact to operations and budget decision making.
• Monitor, and support communication of changes in accounting standards and Provincial reporting requirements for management to ensure compliance and accuracy in financial reporting.
• Bring an awareness and understanding of audience and purpose of deliverables to develop concise, effective, and impactful materials that can be understood by non-financial stakeholders.

SYSTEM SUPPORT AND TRAINING

• Provide expert level support to business areas through communication and training on available tools (budgeting software programs) and processes (budget development) whilst simultaneously ensuring accounting accuracy, efficient and effective monitoring, and understanding of financial information, whilst ensuring relevant compliance is achieved.
• Prepare and provide training sessions for management and administrative staff to ensure the most effective utilization of available financial software, and the proper maintenance and management of financial information within the system.
• Support business units on preparation of budget and forecast entries, related working papers, analysis and reporting.
• Prepare and upload approved budget balances to ERP systems, ensuring completeness, accuracy and consistency across all systems that report approved budget balances.
• Troubleshoot budget system issues that arise and work with ITS/system vendors, as needed, to address and make necessary changes to restore and/or enhance system performance in a timely manner.
• Management of budget and planning systems, including maintenance of master data and budget system access.
• Collaborate with business units and stakeholders to determine improvements to financial systems and processes and liaison with software providers in maintaining and improving system capability to meet ever-changing needs for budget development and reporting.
• Design, develop, review and recommend software tools, templates, resources and processes for optimal and efficient budget development and reporting in order to provide the most current, accurate and relevant budget information; recommend and develop process improvements to obtain best practice models for University budgeting; sustainability and maintenance of effective and efficient reporting practices despite evolving and strict Government imposed deadlines and requirements.
• Mentor and train within Finance and other business units by means of individual interactions related to all aspects of accounting, budgeting and institutional policies, practices and regulations.

Qualifications 

• University Bachelor of Commerce Degree or equivalent
• Canadian Chartered Professional Accountant (CPA) designation is required.
• 6 - 10 years of related experience, including:
  • In-depth knowledge of financial accounting, budgeting and progressive levels of experience in multiple and varied complex scenarios.
  • Strong experience in managing technology related controls in conjunction with financial accounting and other internal controls is required, along with a thorough understanding of the fundamental financial planning and accounting framework, and the many related accounting and regulatory requirements and their impact on the resulting reporting.
• Attention to detail, analytical, organizational, problem resolution and critical thinking skills
• Excellent financial forecasting, budget projection modeling and technical accounting skills
• Strong ability to prioritize amongst equally important requirements
• Strong interpersonal skills, high level of verbal and written communication skills with the ability to work independently
• Ability to understand reporting impacts related to specific decision making as it relates to resource planning and provide sound judgement and logic to financial scenarios
• Budget and financial management experience with the ability to provide sound professional judgment and logic to financial scenarios
• Applicable systems & technology experience in all MS Office products, in particular Excel, Word & PowerPoint

Salary: $105,215 - $119,134 per annum

Closing Date: Open until suitable candidate is found

A cover letter and resume should be submitted in one .pdf document. Please title your .pdf document as follows: [Last Name], [Requisition Number], [Document Title].pdf (ex. Smith, 4321, CV.pdf).