Research Finance Assistant
To provide financial management and associated support for a portfolio of externally funded research projects from acceptance to closure.
To provide management information relating to financial management of projects within the portfolio.
Duties and Responsibilities
Maintain in-depth knowledge of funder’s detailed terms and conditions and communicate thereof to internal stakeholders:
• Ensure understanding of terms for new projects and highlight and make notes of key issues. Communicate to departments accordingly
• Maintain knowledge by reviewing funder websites and alerts. Notify departments of potentially significant changes
• As part of project reviews, remind departments about key terms and conditions and be proactive in identifying any potential issues. Maintain knowledge and understanding of the varied terms and conditions within the portfolio, providing advice to departmental stakeholders
• Respond independently to internal and external correspondence. Use judgement to decide when to escalate queries to the Finance Manager or the relevant funder
• Communicate project management requirements, encompassing reporting, audit, and cost eligibility to departmental staff
Prepare claims and invoices for portfolio of projects ready for Finance Manager review and submit approved documents:
• Produce timely claims with due regard to terms and conditions, funder eligibility rules and strict deadlines to prevent financial loss to the University
• Produce invoices in accordance with contract payment terms
• Complete claims on various external funder systems as required
• Produce complete, neat and accurate auditable working papers to ensure all claimed costs are substantiated
• Maintain work schedule for claims due and other project management tasks for full life of project and ensure that all deadlines are met
• Calculate and account for foreign exchange differences and revalue budgets where applicable
• Consult with departments as appropriate, including confirmation that any required documentary evidence is maintained
• Advise departments of any issues arising from review for claims and invoices
• Ensure adjustment items are processed in SAP in a timely manner
• Maintain ‘pending closure’ schedule for final claims and invoices and related activity
Promptly establish new projects following handover:
• Check all handover documents are present and correct
• Ensure all budget headings reflect departmental management and funder reporting requirements
• Promptly complete set up of projects on SAP (including requests for new profit centres and customers as required)
• Create and communicate project set up via Budget Memorandum or equivalent document
• Set up a neat file with key documents and contract terms clearly marked
• Calculate fixed recharges and salary reallocation percentages where applicable
Undertake project reviews as agreed with Finance Manager:
• Regularly review projects. This will include comparing spend against budget and investigating any material variances, identifying ineligible costs or costs under the incorrect category, reviewing any foreign currency consequences, and making any necessary adjustments
• Provide analysis for large balances and other key performance indicators on a quarterly basis (or as required) and assist with other management reporting
• Re-forecast costs to identify potential budget variances or changes required to staff appointments
• Work with departments to fully utilise awarded budgets by advising on budget requirements and staff appointments
• Where required, ensure accurate and complete monthly timesheets are submitted on a regular basis
• Liaise with members of the Departmental Services Team to assist with the five year planning process and quarterly variance commentary
• Maintain files in good order and highlight important documents
• Update schedule of projects pending closure for relevant information
• Promptly close finalised projects
Audit
• Submit approved working papers to auditors, obtain documentation as required for audit samples, respond in a timely manner to any queries
• Deal with external auditors queries during spot check audits
• Document retention – ensure all audit files and project information are clearly marked for the appropriate period
Other
• Work with colleagues to develop and improve existing procedure and processes
• Other ad hoc duties as required and commensurate with the role
Leave a Reply
You must be logged in to post a comment.