Finance Transactions Assistant

Finance Transactions Assistant
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Post Details

Full time
Open ended

The closing date for applications is midnight on Sunday 04 February 2024.

There is an expectation that work will be undertaken in the UK.

This role is not eligible for sponsorship. Applicants require to have existing right to work in the UK.

The University of Stirling recognises that a diverse workforce benefits and enriches the work, learning and research experiences of the entire campus and greater community. We are committed to removing barriers and welcome applications from those who would contribute to further diversification of our staff and ensure that equality, diversity and inclusion is woven into the substance of the role. We strongly encourage applications from people from diverse backgrounds including gender, identity, race, age, class, and ethnicity.

The Post

To be part of the team responsible for the efficient and effective financial processing of all incoming and outgoing cash transactions across the University, whilst supporting a culture of quality and timely customer service. The post holder will:

Operate with supervision from the Finance Transactions Team Leader in the day-to-day planning, organising and performance (to an agreed quality standard and specification) of a range of financial administrative activities. The post holder is expected to demonstrate initiative in the arrangement of their immediate work priorities, including successfully managing any conflicting demands, possessing a basic awareness of the options available and being able to make effective and appropriate decisions in order to meet agreed deadlines and ensure events are dealt with promptly.

Will normally work within well-established documented administrative processes and procedures, as well as financial regulations and procurement procedures to ensure the consistency and quality of the administrative support delivered by the team. The post holder must be a confident communicator as they are required to liaise with University colleagues and external suppliers and customer (including staff and students) in order to ensure that any issues arising are dealt with promptly and efficiently to enable transactions to be processed in a timely manner.

Within the scope of the role, be presented with a variety of financial-related administrative issues, where the most appropriate course of action will be a matter of choice, influenced by prior exposure or experience. In other instances work actions are very well defined procedurally and the post holder is able to reference and apply established policies and procedures, in order to determine a suitable course of action/outcome. The post holder is required to maintain records of issues and to work with users to ensure resolution is achieved within reasonable timescales. Although the role is covered by standard instructions and procedures/regulations, there may on occasion be some latitude to alter the sequence of procedures, based on varying situations encountered. The post holder may occasionally experience more unusual queries or issues, where there is no formal guidance or trouble shooting. In these cases or situations where the issues cannot be resolved in a reasonable timescale, the post holder is required to interpret past precedents and apply their judgement to determine an appropriate course of action or where resolution is not straightforward to refer the matter to their line manager for guidance/resolution.

The post holder may be required to suggest improvements or developments to current working practices in consultation with their manager, in order to ensure the smooth running of the service they provide.

Description of Duties

The post holder will be required to be familiar with a range of processes that are within the remit of the Finance Transactions Team, enabling them to take on a variety of tasks as required and to support other members of the team. These tasks will include, but not be limited to:

Accounts Payable

• Processing of all supplier invoices and credit notes, plus manual and ad hoc requests for non-staff and students
• Processing of all payment runs (BACS, CHAPS and foreign payments) and issue of remittance advices
• Management of external supplier accounts to minimise financial risk and recovery of balances
• Administration of applications for and issue of staff purchasing cards
• Monitoring and exception reporting for staff expenses and purchasing card claims

Accounts Receivable

• Delivery of the University’s debt management procedures, including debtor contact, and recommendation of proposed sanctions, payment plans, external debt collection agency referrals and legal action
• Monitoring, reporting and reconciling of bad debt write-offs and provisions, including notification and escalation to relevant stakeholders
• Management of external customer accounts to minimise financial risk and recovery of balances

Cash Operations

• Transmission and control of all outgoing payments
• Processing and allocation of all incoming receipts
• Counting, reconciliation and banking of all physical cash received by the University, including investigation and escalation of discrepancies and shortages
• Provision of appropriate security arrangements for all physical cash held on the university campus
• Management of cash handling risk assessments and audit spot checks
• Management and control of all till, petty cash and other cash floats, ensuring levels of physical cash are minimised across the University

Essential Criteria

Qualifications

• Vocational qualifications plus extensive relevant work experience

OR

• Learning gained through work experience. Will include short courses and other formal training

Knowledge & Experience

• Substantial experience in an Accounts Payable and/or Accounts Receivable environment
• Experience of providing customer service (internal and external)

Skills & Attributes

• Ability to work as part of a team
• High level of accuracy with attention to detail
• Work independently without undue supervision
• Effective working knowledge of Excel
• Proficient with Accounting software packages

About Us

The Finance Department delivers a financial service to the whole of the organisation, and therefore it is important to ensure that the University business needs are met, whilst also considering the career development of its staff.  Whilst the post holder may initially focus on a specific transactional processes, there should be a willingness to be flexible about the processes allocated to them as such needs arise. 

As the Department/Faculty and the post-holder develop, there will inevitably be some changes to the duties for which the post is responsible, and possibly to the emphasis of the post itself. The University expects that the post-holder will recognise this and will adopt a flexible approach to work.  This could include undertaking relevant training where necessary.  Should significant changes to the job purpose become necessary, the post-holder will be consulted and the changes reflected in a revised job purpose.

The University

The University of Stirling is committed to providing education with a purpose and carrying out research which has a positive impact on communities across the globe – addressing real issues, providing solutions, and helping to shape society. Stirling is 4th in Scotland and 43rd in the UK for research impact, with 87% of its research having an outstanding or very considerable impact on society – and more than 80% rated either world leading or internationally excellent (Research Excellence Framework 2021).

The University of Stirling is ranked among the top 30 UK universities for student satisfaction (National Student Survey) and top 30 in the UK for postgraduate student experience (Postgraduate Taught Experience Survey), and has an overall five-star rating in the QS Stars University Ratings.

More than 17,000 students study with the University of Stirling globally, with over 140 nationalities represented on its scenic central Scotland campus alone. The University – also home to 1,700 staff – is ranked first in the UK and top three in the world for its campus environment (International Student Barometer 2022, wave two). Ranked first in the UK and top five in the world for its sports facilities (International Student Barometer 2022, wave two), Stirling is Scotland’s University for Sporting Excellence. Its world-class facilities provide the perfect training environment for the University’s sports scholars – many of whom compete at the highest level, including at the Olympics and Commonwealth Games – and for students, staff, and the wider community.

The University has twice been recognised with a Queen’s Anniversary Prize – the first for its Institute for Social Marketing and Health (2014) and the second for its Institute of Aquaculture (2019).

The University is a signatory to the £214 million Stirling and Clackmannanshire City Region Deal and a central partner of the Forth Valley University College Health Partnership.
www.stir.ac.uk @stiruni

Job number

SERV01857

Contract Type

Open Ended

Posting End Date

04-Feb-2024

Location:

Stirling Campus

Grade

Grade4 £22,681-£24,533 p.a.

Faculty/Service

Finance

Post Details

Full time
Open ended

The closing date for applications is midnight on Sunday 04 February 2024.

There is an expectation that work will be undertaken in the UK.

This role is not eligible for sponsorship. Applicants require to have existing right to work in the UK.

The University of Stirling recognises that a diverse workforce benefits and enriches the work, learning and research experiences of the entire campus and greater community. We are committed to removing barriers and welcome applications from those who would contribute to further diversification of our staff and ensure that equality, diversity and inclusion is woven into the substance of the role. We strongly encourage applications from people from diverse backgrounds including gender, identity, race, age, class, and ethnicity.

The Post

To be part of the team responsible for the efficient and effective financial processing of all incoming and outgoing cash transactions across the University, whilst supporting a culture of quality and timely customer service. The post holder will:

Operate with supervision from the Finance Transactions Team Leader in the day-to-day planning, organising and performance (to an agreed quality standard and specification) of a range of financial administrative activities. The post holder is expected to demonstrate initiative in the arrangement of their immediate work priorities, including successfully managing any conflicting demands, possessing a basic awareness of the options available and being able to make effective and appropriate decisions in order to meet agreed deadlines and ensure events are dealt with promptly.

Will normally work within well-established documented administrative processes and procedures, as well as financial regulations and procurement procedures to ensure the consistency and quality of the administrative support delivered by the team. The post holder must be a confident communicator as they are required to liaise with University colleagues and external suppliers and customer (including staff and students) in order to ensure that any issues arising are dealt with promptly and efficiently to enable transactions to be processed in a timely manner.

Within the scope of the role, be presented with a variety of financial-related administrative issues, where the most appropriate course of action will be a matter of choice, influenced by prior exposure or experience. In other instances work actions are very well defined procedurally and the post holder is able to reference and apply established policies and procedures, in order to determine a suitable course of action/outcome. The post holder is required to maintain records of issues and to work with users to ensure resolution is achieved within reasonable timescales. Although the role is covered by standard instructions and procedures/regulations, there may on occasion be some latitude to alter the sequence of procedures, based on varying situations encountered. The post holder may occasionally experience more unusual queries or issues, where there is no formal guidance or trouble shooting. In these cases or situations where the issues cannot be resolved in a reasonable timescale, the post holder is required to interpret past precedents and apply their judgement to determine an appropriate course of action or where resolution is not straightforward to refer the matter to their line manager for guidance/resolution.

The post holder may be required to suggest improvements or developments to current working practices in consultation with their manager, in order to ensure the smooth running of the service they provide.

Description of Duties

The post holder will be required to be familiar with a range of processes that are within the remit of the Finance Transactions Team, enabling them to take on a variety of tasks as required and to support other members of the team. These tasks will include, but not be limited to:

Accounts Payable

• Processing of all supplier invoices and credit notes, plus manual and ad hoc requests for non-staff and students
• Processing of all payment runs (BACS, CHAPS and foreign payments) and issue of remittance advices
• Management of external supplier accounts to minimise financial risk and recovery of balances
• Administration of applications for and issue of staff purchasing cards
• Monitoring and exception reporting for staff expenses and purchasing card claims

Accounts Receivable

• Delivery of the University’s debt management procedures, including debtor contact, and recommendation of proposed sanctions, payment plans, external debt collection agency referrals and legal action
• Monitoring, reporting and reconciling of bad debt write-offs and provisions, including notification and escalation to relevant stakeholders
• Management of external customer accounts to minimise financial risk and recovery of balances

Cash Operations

• Transmission and control of all outgoing payments
• Processing and allocation of all incoming receipts
• Counting, reconciliation and banking of all physical cash received by the University, including investigation and escalation of discrepancies and shortages
• Provision of appropriate security arrangements for all physical cash held on the university campus
• Management of cash handling risk assessments and audit spot checks
• Management and control of all till, petty cash and other cash floats, ensuring levels of physical cash are minimised across the University

Essential Criteria

Qualifications

• Vocational qualifications plus extensive relevant work experience

OR

• Learning gained through work experience. Will include short courses and other formal training

Knowledge & Experience

• Substantial experience in an Accounts Payable and/or Accounts Receivable environment
• Experience of providing customer service (internal and external)

Skills & Attributes

• Ability to work as part of a team
• High level of accuracy with attention to detail
• Work independently without undue supervision
• Effective working knowledge of Excel
• Proficient with Accounting software packages

About Us

The Finance Department delivers a financial service to the whole of the organisation, and therefore it is important to ensure that the University business needs are met, whilst also considering the career development of its staff.  Whilst the post holder may initially focus on a specific transactional processes, there should be a willingness to be flexible about the processes allocated to them as such needs arise. 

As the Department/Faculty and the post-holder develop, there will inevitably be some changes to the duties for which the post is responsible, and possibly to the emphasis of the post itself. The University expects that the post-holder will recognise this and will adopt a flexible approach to work.  This could include undertaking relevant training where necessary.  Should significant changes to the job purpose become necessary, the post-holder will be consulted and the changes reflected in a revised job purpose.

The University

The University of Stirling is committed to providing education with a purpose and carrying out research which has a positive impact on communities across the globe – addressing real issues, providing solutions, and helping to shape society. Stirling is 4th in Scotland and 43rd in the UK for research impact, with 87% of its research having an outstanding or very considerable impact on society – and more than 80% rated either world leading or internationally excellent (Research Excellence Framework 2021).

The University of Stirling is ranked among the top 30 UK universities for student satisfaction (National Student Survey) and top 30 in the UK for postgraduate student experience (Postgraduate Taught Experience Survey), and has an overall five-star rating in the QS Stars University Ratings.

More than 17,000 students study with the University of Stirling globally, with over 140 nationalities represented on its scenic central Scotland campus alone. The University – also home to 1,700 staff – is ranked first in the UK and top three in the world for its campus environment (International Student Barometer 2022, wave two). Ranked first in the UK and top five in the world for its sports facilities (International Student Barometer 2022, wave two), Stirling is Scotland’s University for Sporting Excellence. Its world-class facilities provide the perfect training environment for the University’s sports scholars – many of whom compete at the highest level, including at the Olympics and Commonwealth Games – and for students, staff, and the wider community.

The University has twice been recognised with a Queen’s Anniversary Prize – the first for its Institute for Social Marketing and Health (2014) and the second for its Institute of Aquaculture (2019).

The University is a signatory to the £214 million Stirling and Clackmannanshire City Region Deal and a central partner of the Forth Valley University College Health Partnership.
www.stir.ac.uk @stiruni

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