Trust & Treasury Services

Role and Responsibilities

This unit is responsible for administering the day-to-day activities between the university and its corporate banker and for monitoring the compliance of investment managers, custodians and brokers with investment mandates and policies. The general responsibilities of Trust and Treasury Services include

  • assisting, advising and consulting with university departments in understanding the availability of funds and the restrictions on university trust funds;
  • developing, implementing, communicating and monitoring policies and procedures applicable to the administration and accounting of university trust funds;
  • planning the operating and capital cash flows of the university and ensuring that returns or borrowing costs related to these cash flows are optimized;
  • monitoring the compliance of the university investment managers, custodians and brokers with investment mandates and policies;
  • administering the day-to-day activities between the university and its corporate banker, which includes ensuring that cost-effective banking services are provided to the university;
  • preparing and analyzing monthly and annual working papers for trust and endowment financial statements; and 
  • overseeing the financial administration of the Pension Plan for Academic Employees of the University of New Brunswick

More specifically, Trust and Treasury Services

  • ensures that timely, accurate and meaningful financial information is available for university departments that will allow them to assess the extent of funds allocated to, spent and available from university trust funds;
  • supports and maintains financial information available online from the Colleague general ledger, as well as special purpose reports, general updates and communication to the applicable departments;
  • (in conjunction with Development and Donor Relations) assists departments in determining the nature and applicability of restrictions placed upon university trust funds that the department has spending authority for;  
  • develops and documents policies and procedures related to the internal administration of university trust funds;
  • communicates these policies and procedures and assists university departments in understanding and following them;
  • assists in developing and monitoring procedures and controls related to the administration of university funds managed or held outside of the university;
  • monitor and ensure that parties are adhering to the terms and conditions set forth in the Custodian, Investment Manager and Trustee Agreements 
  • co-ordinates life insurance bequests (in conjunction with Development and Donor Relations);
  • prepares appropriate operating and capital cash flow budgets in order to monitor and manage the day-to-day cash activities and, by doing so, minimize borrowing costs and maximize cash flow returns;
  • ensures that appropriate cash flow investment instruments are available for the university and that these are used effectively;
  • reviews the transactions, reports and activities of the university investment managers to determine if these are in keeping with mandates and policies;
  • co-ordinates the assembly and distribution of monthly and quarterly investment reports for the Investments Committee;
  • establishes and monitors the processes and procedures for the day-to-day administration of services provided by the university's corporate banker (e.g. exception reporting, credit card and debit card services and agreements, service fee agreements, and wire payments and stop payments), working closely with Student Accounts and Receivables and other major departments that interface with the bank on these areas and on deposit procedures;
  • performs the necessary procedures, reconciliations and adjustments to ensure that appropriate cash and investment-related accounts are reconciled and updated on a systematic basis, including University petty cash funds;
  • ensures that all transfers from university trust funds are done on a timely basis and in accordance with university policies;
  • prepares the budget, financial statements, bank reconciliation and journal entries for the Academic Pension Plan; and 
  • ensures all invoices are paid on a timely basis.

Key Governance Documents:

Statement of Investment Objectives and Policy, Long-Term Investment Fund

Statement of Investment Objectives and Policy, Short-Term Investment Fund

Statement of Investment Beliefs

Annual Report on the Long-Term Investment Fund

UNB Statement on Sustainable Investing