| Department: |
Institute for Quantum Computing |
Effective Date: |
June, 2012 |
| Grade: |
USG 11
35 hr/wk
|
Reports to: |
Director, Strategy and Operations |
General Accountability
The incumbent, a strategic thinker, is responsible for financial planning, analysis, reporting and performance management and compliance functions of IQC’s accounts including research grants, endowments and donations.
The incumbent will
- Identify, analyse, prepare and communicate financial reporting and analysis including variance analysis for research accounts, endowments and donations.
- Be responsible for (faculty and institutional) research grant support and related reporting for IQC, including grants/funding from jurisdictions that span around the world (US, EU, UK, Asia). This includes a strong understanding of
- eligibility and compliance terms,
- funding agencies,
- university, government and industry interactions,
- regulations impacting IQC research.
The incumbent will
- be the primary research office contact,
- provide oversight on surpluses, deficits, and time extensions,
- be able to understand and interpret requirements for many international jurisdictions.
- Design and execute monthly, quarterly and annual reporting for internal (faculty and IQC leadership), and support the Office of Research, as required related to external needs. Industry Canada grant reporting is an exception to the rule for external reporting; it’s coordinated by the incumbent.
- Is the project leader for Industry Canada grant annual reporting. This is a major undertaking involve the collection of 50 metrics and the compilation of a 100 plus page annual report
- Lead the development of IQC’s annual budget.
- Prepare long term analysis of the Institutes financial sustainability including an annual update to the long term sustainability plan.
- Build/implement tools and models to support internal reporting requirements e.g. budgets for the IQC committees and teams, and administer a cost allocation billing system for the clean room which will impact both WIN and IQC researchers.
- Develop and maintain internal procedures and controls for all grants and donations; oversee as required controls for financial transactions and reconciliations to ensure compliance policy and external sponsor guidelines.
- Provide financial leadership in the design and reporting of the financial elements in the grant life cycle.
- Be the IQC compliance expert for all grant, endowment and donation agreements.
The incumbent works closely with faculty and supervise two financial staff (USG 7 and a new compliance role that requires job grading). Also, the incumbent sets financial practices and procedures, and provides the related oversight.
Nature and Scope
Waterloo has unique funds with restrictions that determine how the funds are segregated and spent. A key challenge for the incumbent is to ensure that all procedures have been followed and that all internal and external accountabilities are met. Research activity is subject to policy and procedures of Waterloo, as well as those imposed externally by granting agencies. Failure to adhere to such policies could jeopardize the University’s research funding and reputation. However, research activity should not be impeded through the application of these policies and procedures.
The incumbent is part of the leadership team, along with heads of the operating units – administration, communications and outreach, technical facilities and information technology.
The incumbent works closely with researchers; the science Faculty Financial Officer; the Office of Research, Procurement; Contract Services; IQC leadership team in fulfilling their responsibilities.
Strategic Context
IQC’s vision is to harnessing quantum mechanics and that this will lead to transformational technologies that will benefit society and become a new engine of economic development.
The mission of the Institute for Quantum Computing is to develop and advance quantum information science and technology at the highest international level through the collaboration of computer scientists, engineers, mathematicians and physical scientist.
IQC’s strategic goals are to:
- To establish Waterloo and Canada as the world centre of research in quantum technologies and their applications by bringing together the best researchers from mathematics, science and engineering.
- To become a magnet for the best undergraduate, and post graduate students and post-doctoral researchers to engage in research activities that significantly advance quantum information science, and widely disseminate the results.
- To become a source of information, analysis and commentary on the state of quantum science and technology.
Statistical Data
Grants/gifts: $250 million (private, provincial and federal funding).
Operating budget: $12 million growing to $18 million over the next four years.
Capital budget: $100 million for IQC’s new building and lab equipment.
Authority: Signing authority for all funds.
Researchers: Within four years researchers will total 200.
Specific Accountabilities
- Manage relations with funders in cooperation with the Office of Research and the Office of Development; note that some sponsor relations, e.g. Industry Canada, involve regular, direct contact with the incumbent.
- Oversee (and prepare/do as required) finance policy, procedure and compliance for IQC including
- Grants, endowments and donations
- expense management controls
- regularized, standardized, actual results reporting
- budgeting and forecasting
- Assist and advise in the development and preparation of proposals in response to solicitations and RFPs.
- Negotiate, in conjunction with the IQC principal investigator, Office of Research and the Funder, on terms and conditions of a proposed contract or grant. This will include project milestones; payment terms; publication; licensing and patent rights.
- Promote and maintain effective coordination between IQC, the Office of Research, the Office of the Secretariat and the offices within the University Faculties.
- Extensive knowledge of intellectual property considerations including patenting and licensing.
- Directly supervise two personnel and oversee practice development and compliance across the Institute.
- Prepare and deliver presentations on financial and performance metrics for IQC researchers, staff, technical and management personnel and others as required. Importantly this includes project management for the gathering of performance metrics for Industry Canada and the Annual Report.
- Provide project leadership for the IQC planning process, contribute to strategy development, communicates to staff and is a change agent. The planning process includes the annual budget and the annual long term financial plan update.
- Provide ongoing financial modeling and analysis expertise to IQC.
- Manage, co-ordinate, and / or participate in special projects as required.
Working Conditions
