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Financial Reporting and Insurance Analyst

Department: Financial Reporting and Insurance Analyst Effective Date: February 2011
Grade: USG 11 - 12 Reports to: Manager, Financial Reporting

General Accountability

The Financial Reporting and Insurance Analyst is accountable to the Manager, Financial Reporting for internal and external financial reporting requirements.  In addition, the incumbent will manage all property and liability insurance needs of the university. 

Nature and Scope

The Financial Reporting group is responsible for internal and external financial reporting, including the annual audited financial statements; treasury; general revenue; trust and endowment funds; and the university’s insurance program.  Other positions reporting directly to the Manager, Financial Reporting include:

Preparing financial reports for the university requires advanced accounting and analytical skills to deal with complex financial reporting, accounting and business issues.  An understanding of the university’s business processes and financial system are also necessary.  The individual will need to be familiar with Canadian and U.S. tax laws as they relate to charities.

The incumbent will be responsible for several annual reporting requirements including

the Financial Report of Ontario Universities for the Council of Ontario Universities (COU) and Canadian Association of University Business Officers (CAUBO), the Charity Information Return for Canada Revenue Agency and the Return of Organization Exempt From Income Tax (Form 990) for the U.S. Internal Revenue Service.

In addition, the incumbent will assist with the preparation of the annual audited financial statements and provide supporting documentation to the university’s external auditors.  This position is responsible for preparing the financial statements and related IRS statements for the Friends of University of Waterloo Foundation (a U.S. foundation).  Internal reporting requirements include G13 reporting and ad hoc reports as required.

University financial activity is tracked through the Oracle E-Business Suite system and UW's web-based financial reporting package is the Financial Online Reporting Environment (FORE).  Cognos is the business intelligence tool used for reporting and analysis. The incumbent must possess a good working knowledge of these systems and software to extract the data necessary to respond to internal and external financial reporting requirements.

Each year several audits are required by external granting agencies for various projects or funds received.  The person in this role will be responsible for coordinating these audits for the university.

The replacement cost of the university’s property is in excess of $2.4 billion. In addition to the over 50 buildings on the main campus, there are several satellite campuses and research activities occurring worldwide.  It is the incumbent’s responsibility to ensure adequate insurance coverage exists to cover these assets and to ensure the effective operation of the university’s general insurance program in order to mitigate the economic impact from loss or damage to its physical assets and from third party allegations of liability.  The incumbent must be extremely knowledgeable about insurance policies,  rules and regulations and will be the primary contact working with staff and faculty in various university departments responding to coverage and claims needs. 

The University is a member of Canadian Universities Reciprocal Insurance Exchange (CURIE), which provides insurance for property and third party liability claims.  The university also has a number of separate policies that provide additional coverage including fleet insurance and travel/accident insurance.

The university owns 1,000 acres of land and leases other property for specific needs at various locations.  The incumbent will be responsible for reviewing the property tax assessments and associated bills and responding to reporting requirements for the university’s properties.

The individual in this position must develop collaborative working relationships and liaise with staff and faculty in various departments across campus, students, auditors, insurance brokers, government agencies and other external contacts

Statistical Data

Total Assets (09/10)

$1.3 billion

Total Revenue (09/10)

$745 million

# UW Staff and Faculty


# UW Students


Acres of property


# of buildings

Over 50

Replacement cost of UW property

$2.4 billion


Specific Accountabilities

Working Conditions

The ideal candidate will be a self-starter able to work independently and produce accurate results.  You must be able to manage concurrent assignments and prioritize workload in order to meet deadlines.