Financial Management

Roles and Responsibilites

Administrative/Financial Officers (at all levels)

Administrative/financial officers provide financial management expertise to their units. They are responsible for implementing and monitoring appropriate systems of internal controls within their units.  They are also responsible for providing appropriate training and support to other staff within their units who have been assigned financial management responsibilities.  These individuals must be well versed in established university policies and procedures and must ensure that their units are in compliance.  This includes ensuring that funds are spent in accordance with university policy as well as sponsor or donor guidelines and that all financial activity is recorded consistently and accurately in the university financial system in accordance with the guidelines established by the Financial Services Division.  Specific financial management responsibilities include the following:

• Act on behalf of financial manager of funds if delegation of authority has been provided
• Establish appropriate internal controls within the unit
• Monitor and review financial activities associated with all projects/initiatives of the unit on a monthly basis
• Provide summary financial reports to the head of the unit on a monthly basis
• Identify financial issues of concern to the head of the unit
• Ensure that unit staff responsible for financial management activities are appropriately trained for their role
• Establish appropriate documentation for all departmental procedures relating to financial management activities
• Ensure all financial management procedures of the unit are in compliance with university policies and procedures
• Create college and unit financial administration structures that provide support, direction and guidance for the college/unit's financial activities
• Communicate key university and unit financial policies to faculty and staff