Payments Associate

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Posting Information:
This posting is for an existing vacancy.

This role is being offered as a temporary contract

Term - 2 years

Job Description:

Primary Purpose

The Payments Associate is accountable for the timely and accurate processing and recording payments of non-salary expenses to suppliers employees and students. The individual is responsible for safeguarding the universitys assets by adhering to established policies and procedures. Objectives are achieved by reviewing documentation ensuring compliance contributing to continuous improvement and influencing best practices.

Key Accountabilities

Process and apply payments in accordance with University policy:

Review payment transactions for accuracy appropriate documentation and authorization in keeping with UW policies and procedures

Issue payments to suppliers employees students and other individuals in various currencies using multiple payment methods

Apply payment transactions to the General Ledger and reconcile any discrepancies

Prepare foreign payment transactions including IACH and wire payments

Administer returned payments void and re-issue as required

Identify and/or prepare journal entries related to disbursements stale dating of payments AP sub-ledger maintenance etc.

Resolve unusual or complex issues through interactions with the universitys bank foreign payment service provider management within Finance and other Accounts Payable team members

Maintain appropriate system configuration and accurate supplier account records:

Update supplier payment addresses and banking information ensuring that University control procedures are followed and assist in resolving related issues

Test the payments processes within the ERP system during scheduled upgrades/updates ensuring the system is optimally configured for payment processing and assist with issue resolution

Keep abreast of new advances in the procure to pay process and participate in implementing process improvements including but not limited to security enhancements and fraud prevention measures initiated by financial institutions

Participate in the month-end/year-end close process

Provide advice training and direction:

Work with representatives campus-wide to ensure that university policies and procedures related to payment processing are understood and followed

Investigate and respond to inquiries and communicate financial information to a diverse set of client groups

Communicate with stakeholders to answer questions related to the status of the Universitys account outstanding invoices or obtain information in order to issue payment

Other Duties:

Participate in and support other department projects as required

Distribute incoming invoices to Expense Associates for processing on a daily basis

Provide administrative support as required

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Required Qualifications

Education

Post-secondary courses in accounting or equivalent education and experience

Experience

Previous experience in an enterprise-wide computerized accounting environment

Previous experience in an Accounts Payable role within a Finance/Accounting department

Experience in applying Accounts Payable processes procedures and controls in a workplace setting

Knowledge/Skills/Abilities

Demonstrated ability to prioritize and manage concurrent deadlines accurately and efficiently

Excellent attention to detail

Strong analytical and problem solving

Excellent interpersonal written and verbal communication skills

Tact judgment diplomacy and ability to handle confidential information are essential

Demonstrated ability to work independently

Advanced MS Office skills including Excel and Word

Excellent organizational and planning skills

Comfort and clarity in explaining accounting information as well as organizational procedures and policies to stakeholders with a limited background on financial matters

Equity Statement

The University of Waterloo acknowledges that much of our work takes place on the traditional territory of the Neutral Anishinaabeg and Haudenosaunee peoples. Our main campus is situated on the Haldimand Tract the land granted to the Six Nations that includes six miles on each side of the Grand River. Our active work toward reconciliation takes place across our campuses through research learning teaching and community building and is coordinated within the Office of Indigenous Relations.

The University values the diverse and intersectional identities of its students faculty and staff. The University regards equity and diversity as an integral part of academic excellence and is committed to accessibility for all employees. The University of Waterloo seeks applicants who embrace our values of equity anti-racism and inclusion. As such we encourage applications from candidates who have been historically disadvantaged and marginalized including applicants who identify as First Nations Métis and/or Inuk (Inuit) Black racialized a person with a disability women and/or 2SLGBTQ.

Positions are open to qualified candidates who are legally entitled to work in Canada.

The University of Waterloo is committed to accessibility for persons with disabilities. If you have any application interview or workplace accommodation requests please contact Human Resources or ext. 45935.