Nrc Finance/finance Cnrc Ottawa

NRC Finance, part of the National Research Council Canada (NRC), plays a crucial role in managing the financial resources of Canada’s premier research and technology organization. Located in Ottawa, it operates under the broader umbrella of Finance and Administration within the NRC.

The primary function of NRC Finance is to ensure the sound financial stewardship of public funds allocated to the NRC. This involves a wide array of responsibilities, encompassing financial planning, budgeting, accounting, reporting, and control. They are responsible for developing and implementing financial policies and procedures that adhere to government regulations and promote efficient and effective resource utilization.

Specifically, NRC Finance is responsible for:

* **Budgeting and Financial Planning:** Developing and managing the NRC’s annual budget, ensuring alignment with strategic priorities and government funding allocations. This includes forecasting future financial needs and identifying opportunities for cost optimization. * **Accounting and Financial Reporting:** Maintaining accurate and reliable financial records, preparing financial statements in accordance with Canadian Generally Accepted Accounting Principles (GAAP) and government reporting requirements. This data is essential for transparency, accountability, and informed decision-making. * **Procurement and Contract Management:** Overseeing the procurement of goods and services, ensuring compliance with government procurement policies and promoting fair and open competition. This involves managing contracts, negotiating terms, and monitoring vendor performance. * **Financial Controls and Compliance:** Establishing and maintaining internal controls to safeguard assets, prevent fraud, and ensure compliance with relevant laws, regulations, and policies. This includes conducting internal audits and addressing any identified weaknesses. * **Treasury Management:** Managing the NRC’s cash flow, investments, and banking relationships to optimize returns and mitigate financial risks.

The team at NRC Finance works collaboratively with researchers, program managers, and other stakeholders across the NRC to provide financial advice and support. They play a vital role in enabling the NRC to achieve its scientific and technological objectives by ensuring that resources are allocated effectively and used responsibly.

In essence, NRC Finance in Ottawa is more than just an accounting department; it is a strategic partner in driving the NRC’s success by providing sound financial management and ensuring the organization’s accountability to the Canadian public.