University System of Maryland

         Job Class Specification




TITLE: FINANCIAL TRANSACTION SUPERVISOR        JOB CODE: N10FTV 
FLSA: NONEXEMPT                                JOB TYPE: SYSTEMWIDE
EEO6:  H50                                     JOB FAMILY/SERIES: FIN     
IPED-SOC: 43-1011
APPROVED BY: Chancellor Donald N. Langenberg  EFFECTIVE DATE: 07/01/1996

JOB SUMMARY

Under general supervision, supervises the centralized processing of payroll and/or accounts payable for a UMS institution. Incumbents in this job class may supervise a single function in a large operation or a combined function in a small to medium size operation. Work at this level is characterized by the independent performance of very specialized yet limited accounting functions centered on transactions. Work requires a high level of expertise and preparation in the specialty area(s) where assigned. Incumbents in this job class are responsible for all aspects of the processing operation including planning and organizing processing activities, ensuring proper application and implementation of methods and procedures, coordinating financial accounting system transactions, resolving operational problems, and supervising and training intermediate accounting clerical supervisors and/or subordinate personnel that perform complex payroll or accounts payable work. Incumbents in this job class function as working supervisors performing the work of subordinates as needed.

PRIMARY DUTIES

1. Supervises and evaluates the staff and daily operations of the institution's payroll and/or accounts payable unit(s). Plans and reviews transaction procedures, tracking and reporting methods and staff assignments.

2. Oversees the preparation/verification of the institution's payrolls and disbursements of paychecks, and/or processing of all the institution's payables such as utilities, purchase orders, invoices, contracts, and travel reimbursements.

3. Coordinates and monitors on-line processing and transaction batches through the institution's financial accounting system. Maintains manual and automated files and databases for assigned area(s).

4. Performs daily and monthly reconciliation of open commitments and assists with FRS, FAS, STARS, and/or GAAP closings.

5. Prepares adjusting entries applicable to payroll and/or accounts payable and ensures compliance with audit procedures.

6. Prepares and maintains processing and closing schedules for applicable area(s). Prepares special statements, reports, estimates or projections as directed.

7. Ensures compliance with applicable state and federal laws and other regulatory requirements for payroll and/or accounts payable transactions. Reviews applicable institutional documents for accuracy, completeness, and conformity.

8. Recommends and implements policies, operating procedures and processing methods to ensure efficient and accurate processing of payroll and/or accounts payable transactions.

9. Answers inquiries regarding area operations and procedures and functions as resource person for the interpretation and application of laws, rules, and regulations related to payroll and/or accounts payable.

10. Advises and instructs institution personnel on payroll and/or accounts payable policies and procedures. Updates and maintains applicable policy and procedures manuals.

11. Maintains liaison with vendors, State Central Payroll Bureau, UMS Payroll Center, State Controller's Office, various institution officials and other internal and external entities to facilitate transactions and resolve problems.

12. Authorizes working fund checks and/or cash disbursements for emergency purchases or petty cash.

Note: The intent of this list of primary duties is to provide a representative summary of the major duties and responsibilities of this job. Incumbents perform other related duties assigned. Specific duties and responsibilities may vary based upon departmental needs.

MINIMUM QUALIFICATIONS

EDUCATION: High School Diploma or GED.

EXPERIENCE: Five years experience in specialty area of the position (payroll and/or accounts payable), two years of which must have been in a lead or supervisory capacity.

REQUIRED KNOWLEDGE/SKILLS/ABILITIES

Thorough knowledge of complex and specialized payroll and/or accounts payable procedures and practices; of data processing procedures used in the processing of payroll and financial transactions; of related federal and state laws; of State of Maryland and UMS rules, regulations, forms and procedures affecting payroll, procurement, and/or accounts payable processing; of procedures for payroll benefit deductions where applicable; of the institution's accounting operations and procedures. Working knowledge of the principles and practices of accounting; of office management and business practices. Skill in the use of tax tables where applicable; in analyzing financial transaction problems in assigned area(s) and formulating appropriate solutions; in performing mathematical computations; in posting and balancing ledgers, preparing trial balances and reconciling accounts; in the use of calculators, related office equipment, personal computers and related financial software. Ability to train and supervise assigned staff in payroll and/or accounts payable operations and procedures; to apply Generally Accepted Accounting Principles (GAAP); to prepare reports; to communicate effectively both orally and in writing; to establish and maintain effective working relationships.

OTHER: Except for qualifications established by law, additional related experience and formal education in which one has gained the knowledge, skills, and abilities required for full performance of the work of the job class may be substituted for the education or experience requirement on a year-for-year basis with 30 college credits being equivalent to one year of experience.

CONDITIONS OF EMPLOYMENT

Employees in this job class may be required to work overtime to meet required deadlines.