Research Financial Management Services (RFMS): Roles and Responsibilities

Team
Responsibilities
Fund Management Team
  • Receives all action items from OSR Awards Management Team
  • Reviews terms and conditions of new funds
  • Sets up new fund and renewals
  • Processes inter-institutional advances
  • Processes cheque and wire transfer deposits
  • Closes funds
  • Ensures FOAPAL integrity
  • Assists fund administrators in peak periods
Reporting and Compliance Teams (includes Financial Administrators)
  • Reviews new fund openings and renewals
  • Monitors expenditures and eligibility
  • Prepares financial reports
  • Prepares billings
  • Assesses control reports (over-expenditures, receivables, error reports)
  • Acts as agency expert/contact
  • Terminates fund
  • Audit support
Monitoring and Compliance Team
  • Oversees over-expenditure monitoring
  • Follows-up with control reports
  • Coordinates audits
  • Follows-up with and implements audit recommendations
  • Measures performance – KPIs
  • Benchmarks – FST statistics
  • Develops and executes compliance programs by transaction type (Pcard, Expense Reports, Payroll, Feeds, etc.)
  • Communicates findings
  • Maintains sponsor grid
  • Simulates Tri-agency audits
Training
  • Develops training materials for training sessions and knowledge base
  • Documents Standard Administrative Procedures (SAP)
  • Provides on-going updates on process changes
  • Trains new staff members (onboarding)
  • Coordinates training (Banner, Crystal, Payroll, etc.) for new hires and refreshers
  • Acts as floater when required