Financial Monitoring Officer

Description:

Created by the Government of Canada in 1997, the Canada Foundation for Innovation (CFI) strives to build our nation’s
capacity to undertake world-class research and technology development to benefit Canadians. Thanks to CFI investment in
state-of-the-art facilities and equipment, universities, colleges, research hospitals and non-profit research institutions are
attracting and retaining the world’s top talent, training the next generation of researchers, supporting private-sector
innovation and creating high-quality jobs that strengthen Canada’s position in today’s knowledge economy
Reporting to the Senior Financial Monitoring Officer, performs oversight activities relating to the use and
accountability of Canada Foundation for Innovation (CFI) funds by recipient institutions.
Key Activities
The incumbent may be asked to perform any or all of the activities described below. Activities may change from
year to year depending on priorities.
Oversight activities related to CFI-funded projects and awards

• Plans, coordinates and conducts monitoring visits at recipient institutions (to review key policies,

practices, processes and controls in place at institutions for the management of CFI awards). This
includes chairing meetings during the visits and presenting the findings.

• Plans, coordinates and conducts in-house contribution audits.
• Prepares files for contribution audits conducted by external auditors and assists in coordinating these

audits.

• Conducts timely follow-up activities on past monitoring visits and contribution audits performed by the

CFI or external auditors.

• Reviews fair market value assessments of CFI-funded items involving significant in-kind contributions

and assists in coordinating the appraisal of these items when required.

• Assists in the review of the cost allocation methodology for CFI-funded construction that is part of a

larger undertaking.

• Assists in the calculation, review and monitoring of annual payments made to the institutions from theInfrastructure Operating Fund.