Financial Analyst (Transportation, Strategic Initiatives and Asset Management)

The Role

Provides and supervises the provision of budgeting, accounting, and financial analysis services and support for clients (Transportation, Strategic Initiatives, Asset Management). Provides financial analysis and reports for senior staff, Council, and Committee. 

Duties/Responsibilities

• Supervises an Accounting Specialist. 
• Trains clients on policies, procedures, and using accounting and budgeting systems.
• Prepares base operating and capital budgets for client review and approval. Prepares initial budgets, reviews, and updates based on decisions made by clients, leaders, and other levels of government. Provides input into budget issue papers, including projecting financial impacts.  
• Analyzes, interprets, and communicates financial information, including developing forecasts, summaries, cost benefit analysis, fees, charges, and continuity schedules. Participates in budget planning, coordination, organization, preparation, and approval.
• Develops and administers capital financing plans for clients, including debentures, development charges, reserve funds, and other types of financing. Updates capital budgets based on Council approvals. Determines year-end carry forward budget amounts and financing requirements for capital projects. 
• Administers reserve and reserve funds to ensure adequate funds are available to finance capital projects. Develops long term strategies, scenarios, and projections to fund capital budgets. 
• Monitors actual expenditures and revenues monthly against approved budgets and implements financial control procedures. Works with clients for forecasting and planning purposes; identifies possible variances; investigates and develops strategies to mitigate variances; and reports to senior management and Council as appropriate. Ensures budget reports are available for clients as requested. 
• Administers/oversees the administration of financial accounts for clients, ensuring accurate financial reporting. Undertakes required analysis.  
• Reviews and reconciles information to assist in the preparation of yearly financial statements, including trial balances, financial information returns, and financial statement notes. Records tangible capital asset accounting information in the general ledger. 

Additional Duties/Responsibilities

• Prepares detailed financial analyses to determine the impact of program changes resulting from policy and legislative changes, and makes financial policy recommendations to senior management.  
• Provides financial information, analyses, recommendations, and advice to clients, senior management, and Council, through standing committee and procurement report development and  review, and as part of project teams with senior management, area municipalities, and other stakeholders (e.g., the Province).  
• Administers the developer security function. Ensures work undertaken by the Region on behalf of developers and other external parties is properly secured prior to expenditures being incurred.  Oversees monthly security reporting, and the increase / release
• of security as appropriate to ensure the Region is fully protected at all times.
• Participates in the periodic review of the regional development charge by-law. 
• Prepares budget submissions, financial reports, and claims to other levels of government for client programs receiving funding and subsidy, ensuring compliance with requirements. Reviews agreements to ensure compliance with terms and agreements. 
• Prepares financial information for external audits as part of government funding agreements. 
• Participates on special project teams as required.
• Participates as a financial representative on the management negotiating team for collective agreements to analyze financial impacts of proposals. 
• Exchanges information with local municipalities, other municipalities, and other levels of government. 
• Responds to inquiries from external auditors. 
• Authorizes purchase orders, invoices, and cheque requisitions. Reviews expenditures over $10,000 for compliance before payment. 
• Reviews and makes recommendations on system needs. 
• Backs up the Manager as required.
• Performs related duties as required.

Knowledge, Skills, and Abilities

• Knowledge and skills are normally acquired through an undergraduate degree in a related field (such as but not limited to Business, Economics, Mathematics, Commerce), plus progressively responsible related experience applying principles and techniques in cost/benefit analysis, present values, statistical analysis, and forecasting. 
• Must hold a professional accounting designation (CPA).
• Knowledge and skill in budgeting, management control systems, planning, accounting principles, and financial modelling.
• Knowledge of and ability to comply with policies, procedures, legislation (e.g., financial management, purchasing, municipal, development charges, asset management, public sector accounting board), and collective agreements.
• Analytical, problem-solving, and continuous improvement skills to plan, develop, and achieve objectives; conduct analyses; provide input on guidelines and procedures; make recommendations and decisions; and resolve issues independently or in consultation with senior leaders.
• Leadership skills to supervise, train, develop, motivate, and support staff.
• Human relations and communication skills to communicate complex, politically sensitive information to senior leaders and clients; obtain and promote cooperation while exercising financial control; assist clients in adapting to changed legislation, regulations, and systems; respond to questions and concerns; and participate as an effective team member.
• Ability to read and interpret Council/Committee reports, legislation, guidelines, technical proposals, policies, by-laws, and legal/funding agreements. 

Additional Knowledge, Skills, and Abilities

• Ability to write clear, concise letters and reports to management, Council, and external contacts, and draft/provide input into by-laws and legal agreements.
• Computer skills with ability to use software such as Microsoft Office and financial information systems. 
• Must provide an acceptable Criminal Record and Judicial Matters Check for bondability.
• Ability to travel within and occasionally outside Waterloo Region. 
• Ability to support and demonstrate the Region’s values.