Assistant Finance Manager

McMaster University; Hamilton; On-site; CAD 85,000 - 105,000; Full time

Job summary

McMaster University’s Department of Family Medicine is seeking an Assistant Finance Manager to oversee AFP and Clinical Practice Plan funding. You will manage day-to-day budgets, support strategic financial planning, and collaborate with hospital partners to ensure compliant and accurate reporting.

You will supervise a small accounting team, implement financial controls, and provide clear analyses to guide decisions on university funds, MOH funding and CPP allocations across provincial networks.

Qualifications

• Undergraduate degree or college diploma in related area; accounting designation in progress.
• Minimum 3 years’ experience managing large financial portfolios.
• Proven experience leading/supervising teams toward departmental goals.

Responsibilities

• Manage AFP and CPP budgets and related operating programs.
• Coordinate payroll and liaise with partner institutions for funding.
• Prepare monthly/annual financial reports and forecasts.
• Ensure compliance with university and external funding policies.

Skills

Financial management

Budgeting

Financial analysis

Budget reporting

Communication of financial information

Education

Undergraduate degree or college diploma

Job description

Education Level

Undergraduate degree or College diploma in related area, and working towards accounting designation.

Minimum of 3 years’ experience effectively managing/working in a large financial portfolio.

Proven experience in leading and supervising teams with a focus on accomplishing departmental goals and objectives on a sustained basis.

Knowledge/Skills

Proven skills in financial Management, reporting and complex analysis.

Experience in the development, implementation and reconciliation of budgets.

The ability to effectively communicate financial information to audiences of varying size and acumen.

An excellent understanding of comprehensive financial information including annual personnel agreements, Academic Merit Systems, MOH funding and University operating and year end account reporting is required.

Superior oral and written communication skills, organizational, time management and interpersonal skills are essential.

High level of integrity.

Job Description

DepartmentDescription

The Department of Family Medicine (“DFM”) has over 240 staff and 1,500 faculty distributed throughout thirteen teaching sites and surrounding communities, teaching 214 residents and over 650 other health professional learners annually, and through its affiliated faculty members serving over 1,000,000 patients within southern/south Central Ontario. It is a recognized leader in family medicine teaching, research, and practice nationally and internationally. It is one of only two academic Family Medicine departments in Canada that directly operates primary care clinics, operating two large clinical teaching units (“CTU”) as a joint venture with Hamilton Health Sciences and the McMaster Family Health Organization Association. The CTUs encompass forty physician practices serving over 45,000 patients and training over 70 family medicine residents annually, supported by more than 40 administrative staff in addition to physicians and a team of more than 20 other health professionals.

DFM's annual budget exceeds forty million dollars with revenue sources encompassing university operating allocation, Alternative Funding Plan ("AFP") and Clinical Practice Plan ("CPP"), Family Health Team funding ("FHT"), a full spectrum of research funding (e.g. endowed Chairs, trusts, CIHR career awards, internal and external grants, etc.), program-specific education funding, real estate and commercialization proceeds, and clinical income from physician practices within the CTUs. Its Finance Team manages the full financial cycle and corresponding functions for all areas within the academic department as well as for the CTUs, the latter including patient care billings and physician remuneration.

Job Summary

The Assistant Finance Manager ("Manager") provides effective and efficient financial management of Alternate Funding Plan ("AFP") and operational funding for education and research under the direction and supervision of the department’s Finance Manager. The Manager will provide day-to- day management of the relevant budgets and accounts. The Manager will maintain decision-making authority in collaboration with the Finance Manager and the Director of Administration and will work collaboratively with the Finance Manager to ensure overall Department financial goals and strategic plans are attained and adherence to all related policies and procedures.

Accountabilities

Financial Management/Budgeting

• Determines financial priorities, in conjunction with the Finance Manager, Director of Administration, Department Leadership and the Financial Management Committee(s).
• Develops, implements, and monitors the budgets for the AFP, Clinical Practice Plans and operating programs in conjunction with the Finance Manager
• Determines effective use and reconciliation of various systems of financial data within partner institutions including Regional Medical Associates (RMA), Ministry of Health (MOH) and as required the University to ensure the accuracy of the Departments/Associations financial statements.
• Reconcile and allocate AFP funds amongst Physician Associations.
• Updates projections for revenue and expenditures and revises the financial plan accordingly.
• Develops and maintains adequate financial controls in accordance with university and external funders policies and procedures.
• Works collaboratively with the Finance Manager in the development of the Department’s Operating Budget.
• Supports the development of financial plans for new funding initiatives and business plans by providing accurate financial statements, forecasts and the status of the clinically driven finances (AFP’s, CPP and related external funding).
• Liaises with Financial Managers/Directors from partner institutions such as, but not limited to, Hamilton Health Sciences (HHS), St. Joseph’s Healthcare and Joseph Brant Hospital to manage financial transactions and ensure compliance with any contractual obligations.
• Develops, in collaboration with the Finance Manager, an annual financial budget calendar which is compliant with all internal and external reporting deadlines.
• Authorizes payroll expenditures on the above accounts.
• Reconciles RMA reports monthly.
• Maintains overall Department Financial knowledge in terms of funding, policies, and procedures in order to act as back up to the Finance Manager when required.

Compensation

• Implements physician compensation models, as developed by the Finance Manager, Director of Administration, the Physician Association and Department leadership.
• Maintains and monitors compliance with all physician and external contractual obligations.
• Monitors and adapts the compensation model in accordance with MOH, the Physician Associations and as required, University and other external policies and procedures.
• Prepares and facilitates the physician miscellaneous payroll via RMA
• Acts as a liaison with the RMA with regards to the appropriate set up of physicians, accurate RMA payments to physicians and the reconciliation of funding which flows through the RMA
• Implements and monitors the physician merit system and any academic participation payments.
• Develops workflow models around the merit/academic payment systems to improve efficiency.
• Provides all relevant physician compensation information and projections to the Finance Manager to ensure the timely submission and accuracy of the Department’s Global Budget

Audit Preparation

• Manages large sets of financial data for audit purposes.
• Prepares all financial statements and detailed reports required for external audit process related to AFP and specifically funded Ministry of Health accounts.
• Acts as the contact for external auditors and during the audit will support the day to day requests of the auditors as relevant.
• Assists the Finance Manager in any internal audit processes related to the University/Faculty of Health Sciences as required.

Reporting

• Manages large sets of financial data for internal and external reporting purposes.
• Prepares standard monthly and annual financial reports, which are compliant with multiple institutional policies, procedures and funding requirements, to support the governance entities in making informed financial decisions.
• Prepares quarterly variance reports providing updated projections for revenue and expenditures that will support the revision of the financial plans as necessary.
• Develops ad hoc management style reports for the Director of Administration, FMC and external stakeholders to support the development of business cases, strategic plans and initiatives.
• Delivers financial presentations at FMC meetings, Department meetings and Association governance meetings as required.
• Collaborates with the Finance Manager with regards to the preparation of overall Department, University and AFP reporting as required.

Policy, Procedures and Guidelines

• Provides strategic leadership as a member of the Department’s administrative team and works collaboratively with the other Department Managers, the Health Sciences Finance Office and members of partner hospital finance teams to develop policies, procedures and guidelines concerning the business related to the in-scope funding.
• Communicates newly developed policies, procedures and guidelines to relevant stakeholders.
• Actively ensures that they have all update information regarding internal and external institution’s policies and procedures.
• Ensures all financial transactions are compliant with all existing internal and external policies and procedures.

People Management/Supervision

• Responsible for the direct supervision of 3-4 accounting assistants and/or finance co-ordinators, and joint supervision with Finance Manager of a Budget and Financial Analyst and indirect accountability of the broader accounting team.
• Provides guidance to medical administrative assistants who process activity within the AFP.
• Lead the hiring of the accounting staff members directly supervised and support other hiring activity, as required, within the department.
• Lead labour relations issue that arise with direct report(s)
• Engage in performance management as required.
• Ensure effective and appropriate balance of workloads and oversee training needs.

Pay Transparency Statement

The posted hiring range represents McMaster's typical hiring range for this position. Actual starting salary will depend on factors such as relevant experience, qualifications, internal equity, and market conditions.

Individuals with extensive experience, deep specialized expertise, and/or those who can demonstrate exceptional past performance, as applicable, may be hired at a higher rate within the full range, in accordance with the University compensation policies.

Employment Equity Statement

McMaster University is located on the traditional territories of the Haudenosaunee and Mississauga Nations and within the lands protected by the “Dish With One Spoon” wampum agreement.

The diversity of our workforce is at the core of our innovation and creativity and strengthens our research and teaching excellence. In keeping with its Statement on Building an Inclusive Community with a Shared Purpose, McMaster University strives to embody the values of respect, collaboration and diversity, and has a strong commitment to employment equity.

The University seeks qualified candidates who share our commitment to equity and inclusion, who will contribute to the diversification of ideas and perspectives, and especially welcomes applications from indigenous (First Nations, Métis or Inuit) peoples, members of racialized communities, persons with disabilities, women, and persons who identify as 2SLGBTQ+.

As part of McMaster’s commitment, all applicants are invited to complete a confidential Applicant Diversity Survey through the online application submission process. The Survey questionnaire requests voluntary self-identification in relation to equity‑seeking groups that have historically faced and continue to face barriers in employment. Please refer to the Applicant Diversity Survey - Statement of Collection for additional information.

Interview Experience

At McMaster University, we believe in a comprehensive and inclusive interview process. Our interview methods encompass a variety of approaches that allow our hiring teams to provide a flexible and accessible experience for engaging with our candidates. Throughout your recruitment process at McMaster, you may be requested to participate in a variety of formats, that may include in-person, virtual or recorded interviews. If you have any questions as you move through the hiring process, please reach out to [e-mail] or the HR contact associated with your position of interest.

AI Statement

McMaster and its third‑party partners may use AI tools to screen, assess, or select applicants during the hiring process. Please note that currently our recruitment platform does not use AI nor is it part of our current recommended recruitment process.