Financial Analyst- Business Partner (Research Institute)

McGill University Health Centre; Montreal; On-site; CAD 60,000 - 80,000; Full time

Job summary

An esteemed research institute is on the lookout for a detail-oriented Financial Analyst to join their dynamic team. This role is crucial for managing the period-end closing process, preparing journal entries, and conducting insightful financial analyses. The successful candidate will act as a strategic partner, collaborating with various departments to optimize resource allocation and enhance financial reporting. This position promises an engaging environment where your contributions will directly impact the financial health of the institute. If you're passionate about finance and eager to make a difference in a research-driven setting, this opportunity is perfect for you.

Qualifications

• Strong analytical skills with a focus on financial data interpretation.
• Experience in preparing journal entries and managing account reconciliations.

Responsibilities

• Manage the period-end closing process and prepare financial statements.
• Conduct variance and cost recovery analyses to support decision-making.
• Collaborate with departments to identify cost-saving opportunities.

Skills

Financial Analysis

Journal Entries Preparation

Cost Recovery Analysis

Variance Analysis

Budgeting

Account Reconciliation

Financial Reporting

Collaboration

Education

Bachelor's Degree in Finance or Accounting

Professional Accounting Designation (e.g., CPA)

Tools

ERP Software

Financial Systems

Job description

RESEARCH INSTITUTE OF THE MUHC
The Research Institute of the McGill University Health Centre (RI-MUHC) is a world-renowned biomedical and hospital research centre. Located in Montreal, Quebec, the Institute is the research arm of the McGill University Health Centre (MUHC) affiliated with the Faculty of Medicine at McGill University. The RI-MUHC is supported in part by the Fonds de recherche du Québec - Santé (FRQS).

Position summary
The Research Institute of the McGill University Health Centre (RI-MUHC) is seeking a proactive and detail-oriented Financial Analyst. This role is pivotal in managing the comprehensive period-end closing process, including the preparation of journal entries and account reconciliations. The Financial Analyst will also conduct variance and cost recovery analyses, acting as a strategic business partner to various research and service departments. The successful candidate will develop cost models to support informed decision-making and optimize resource allocation within the Institute.

General Duties
• Prepare, review and post journal entries, process re-classes and accruals in compliance with accounting standards and RI-MUHC policies
• Perform balance sheet reconciliations, promptly addressing any discrepancies
• Compile and analyze financial data to ensure accurate and timely monthly, quarterly, and annual closes
• Support external audits, process open PO and Revenue accruals and prepares schedules, reconciliations and required documentation
• Maintain Principal Investigator commitments data base, process transfers and prepare commitments schedule for the annual audit file
• Maintain the fixed assets register, account for additions, disposals and retirement of assets as per the Fixed Asset Policy. Moreover, prepare the capital and depreciation budgets, and perform financial analyses for relevant capital expenditures.
• Perform detailed analyses of actual versus budgeted financial results, identifying trends, risks, and opportunities
• Collaborate with departmental leaders to interpret variances and provide actionable recommendations
• Present variance analysis findings to senior management, facilitating data-driven decision-making
• Develop and maintain cost recovery models to ensure accurate allocation of a shared and indirect costs across departments (CIM, ARD and Platforms)
• Work with the departments to identify cost-saving opportunities and enhance resource utilization
• Assist in establishing equitable cost-sharing mechanisms within the Institute
• Identify and implement enhancements to accounting and reporting processes, streamlining workflows for efficiency and accuracy.
• Leverage financial systems and tools to automate processes and improve the quality of reporting in preparation for a migration to a new ERP Solution
• Develop best practices for cost recovery workflows, ensuring seamless collaboration with various departments and internal teams.