Payments Associate
University of Waterloo
Waterloo, ON, CA
4d ago

Overview

The Payments Associate is accountable for processing and recording payments of non-salary expenses to suppliers, employees and students.

The individual is responsible for safeguarding the university’s assets, by adhering to established policies and procedures.

Objectives are achieved by timely and accurate issuance of payments, reviewing documentation, ensuring compliance, contributing to continuous improvement and influencing best practices.

Responsibilities

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 draft and wire payments
  • Administer returned payments, void and re-issue, as required
  • Identify and / or prepare journal entries related to disbursements, AP sub-ledger maintenance, freight expenses, etc
  • Interact with the university’s 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 module of the ERP system during scheduled upgrades / updates, ensuring the system is optimally configured for payment processing, and assist with issue resolution, as required
  • Keep abreast of new advances in the P2P process and participate in implementing process improvements, including, but not limited to, security enhancements initiated by financial institutions
  • Participate in the month-end / year-end close process, as required
  • 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
  • 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 University’s 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
  • Qualifications

  • Post-secondary courses in accounting or equivalent education and experience
  • Previous experience in an enterprise wide computerized accounting environment
  • Fundamental understanding of Accounts Payable processes and procedures
  • Experience with payment processing in an Accounts Payable role is an asset
  • Demonstrated ability to prioritize and manage concurrent deadlines accurately and efficiently
  • Excellent attention to detail
  • Strong analytical and problem solving, interpersonal, organizational and communication skills
  • Tact, judgment, and diplomacy are essential
  • Demonstrated ability to work independently and handle confidential information
  • 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
  • Apply
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