Job Specification

Purpose of Position :

To assist the branch financial teams in financial planning, budgeting, analysis, monitoring, control and reporting services for assigned ministry branches or health service providers (HSPs). To provide analysis/advice on policy and procedural interpretations and resolve related issues. To maintain database information and participate in projects.

Duties / Responsibilities :

I. Assisting in the review of monthly/quarterly financial reports and operating statements and annual reconciliation reports (ARRs) from assigned ministry branches or HSPs (e.g. operation of hospitals, Ontario Public Drug Programs) in order to evaluate their in­ year and year-end financial positions and effect annual settlements.

2. Assisting in the review and analysis of budget submissions (e.g. for HSPs) including financial requirements, activity data and operating results. Coordinating the circulation and collection of budgeting and reporting materials to and from HSPs. Providing advice/assistance to customers related to payment policies/processes, reporting requirements/ tirnelines and resolving related issues.

3. Reviewing and monitoring monthly financial reports from the corporate accounting system (e.g. IFIS reports) and reporting on any significant trends and variances with recommendations for appropriate remedial action. Reconciling monthly financial reports with corporate summary/control reports (e.g. from Accounting Policy and Financial Reporting Branch). Monitoring, tracking and
assisting with appropriate follow-up re HSP summary/detailed financial activity/information (e.g. recoveries, in-year adjustments,
Uncommitted funds); preparing regular reconciliation and statistical information reports to meet reporting requirements.

4. Developing and maintaining the financial coding structure, ensuring compliance with OPS and ministry financial directives and policies. Processing forms confining/updating tombstone information (e.g. banking information, addresses) for transfer payment agencies (e.g. HSPs).

5. Developing and maintaining financial reporting/ information systems in order to provide timely, accurate, reliable and useful information. Recommending financial reporting/ information system enhancements and processes based on an analysis of current and changing business requirements.

6. Processing and recording approved requests for funding and other cash flow changes. Initiating and preparing journal entries
(JEs).

7. Assisting in periodic expenditure forecasts for direct operating expenditures (DOE) and transfer payments. Processing invoices pertaining to DOE, verifying payments against appropriate cost entries and reconciling accounts.

8. Maintaining program files and keeping them up-to-date by ensuring that all relevant financial forms, documents, etc., are placed in files in a timely manner. Maintaining control logs for operating plans/budgets; quarterly reports and annual reports, including matters for follow-up from transfer payment agencies. Assisting in keeping program policies, guidelines, procedures and forms up­ to-date.

9. Preparing routine correspondence concerning transfer payment agencies, including funding letters.

10. Participating in special projects as assigned (e.g. refunding initiatives).

11. Performing other duties and tasks as assigned.

Staffing and Licencing :

N/A

Knowledge :

Job requires:
Knowledge and experience in applying accounting principles and practices, including financial analysis techniques and reporting processes/procedures to conduct analysis/reconciliation of budget, expenditure and transfer payment data, generate/validate financial and statistical reports and review/process expenditure documents.
Knowledge of government and ministry financial directives, policies, procedures and processes related to transfer payments and
modem controllership methods to review/assess funding documents, identify discrepancies, explain and interpret policies and requirements, assess adherence to criteria and monitor ministry branches/HSPs' reporting performance. Knowledge of the LHINs'/assigned branches' core businesses to assist with customers' financial planning and reporting activities, including completing LHIN/branch specific financial documents.
Knowledge of the use and capabilities of internal and corporate financial systems (e.g. IFIS) to utilize systems to gather
data/information, conduct financial analysis/reconciliations and recommend financial control V reporting systems improvements/ enhancements. Proficiency in software applications (e.g. word processing, spreadsheets) to develop spreadsheets/forms and prepare reports and other materials.

Skills :

Job requires:
Analytical skills to examine and interpret financial records for expenditure analysis, to identify over/under expenditures, provide trends analysis and early warnings of payment/documentation issues and to resolve a range of financial matters including the investigation and explanation of discrepancies.
Analytical skills to prepare a range of cost projections and to review financial operating reports for ministry branches/ HSPs.
Evaluative and problem solving skills to prepare budget/expenditure forecasts, research and resolve expenditure discrepancies with customers and management, identify expenditure trends and recommend financial system improvements/enhancements, and for other reporting, tracking and financial planning.
Planning and organizational skills to set work priorities and meet deadline demands in a high volume environment.
Oral communication and interpersonal skills to respond to inquiries from ministry branches/HSPs regarding payment/reporting policies and processes, to interpret/explain technical processes/procedures and to discuss/negotiate a range of financial and payment related issues; and to liaise with staff in CDSD partner branches (e.g. Accounting Policy and Financial Reporting Branch) to gather information regarding policies, procedures and changes.
Written communication skills to provide information to senior management regarding budgeting, financial control, spending-related
issues, through letters, financial reports and summaries.

Freedom of Action :

Job requires working under the supervision of the Finance Manager but receives technical direction/guidance from the Finance Manager's more senior staff(e.g. Senior Financial Consultant/Financial Analyst). Policies, procedures and guidelines are available in the OPS and ministry administrative, financial and transfer payment directives, policies, guidelines and principles. Judgement is exercised in determining and expediting workflow and priorities to achieve assigned deliverables; analysing and monitoring of budgets and expenditures; ensuring accuracy and timeliness of reports; providing trends analysis and early warnings of transfer payment/documentation issues; identifying funding and reporting problems and developing resolution strategies; determining when
to escalate problems/issues to more senior staff; determining solutions to expenditure problems; and recommending improvements to tracking, financial control and reporting processes.
Work is reviewed by the Manager/Senior Financial Consultant/Financial Analyst for soundness of decisions, financial analysis and adequacy of customer service. Job requires referring matters that vary significantly from established policies and procedures (e.g. significant instances of over/under expenditures, major systems problems, issues of non-compliance).