Financial Analyst GS Career Path Guide

Transcription

1 Financial Analyst GS-1160 Career Path Guide April, 2015

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3 TABLE OF CONTENTS FINANCIAL ANALYST GS Career Path Guide... 1 Your Career as Financial Analyst SNAP SHOT... 1 Your Expertise... 1 Previous Experience... 1 Key Duties and Responsibilities GENERAL ALL GS LEVELS... 2 Competencies ALL GS LEVELS... 3 Career Development - ALL GS LEVELS... 4 The Importance of Mentoring... 5 Advancement... 5 Financial Assistant GS-5/ Financial Analyst GS Financial Analyst GS Financial Analyst GS Financial Analyst GS Lead Financial Analyst GS Financial Analysis Manager GS Financial Analyst Career Path Guide

4 Financial Analyst GS-1160 Career Path Guide The Financial Analyst is a HUD Mission Critical Occupation meaning that it is core to carrying out the primary mission of the Department. Whether you aspire to be a senior leader or choose to deliver steady technical expertise as a HUD Financial Management professional, your contributions to the mission are valued and essential. The purpose of this career path guide is to provide you with a realistic preview of typical experiences, responsibilities, and duties associated with this occupation as well as strategies for developing and advancing your professional development as you grow your career at HUD. Your Career as Financial Analyst SNAP SHOT As a Financial Analyst, you support the Financial Management Division (FMD) in one of HUD s major programs such as Public Housing Programs, Housing Choice Voucher Programs, or Community Planning and Development Programs. You may work to support HUD Field Offices, HUD Headquarters, other Management Centers, the Secretary s Representative, and State and Area Coordinators on cross program activities, outreach, and technical assistance to owners, managers, and contract administrators. Financial Management Divisions perform professional, highly technical, or complex administrative activities related to the development and oversight of program statutory and regulatory policies, operational policies and procedures, standards, methods, and administrative requirements for HUD programs. Each FMD is responsible for implementing all activities related to the financial management, implementation, and monitoring of the program including budget estimates and projection, funds control, and program financial performance. The Divisions review, analyze, and maintain data on program performance, operations, use, and cost; analyze a variety of rental market data; and analyze Department policies for impact on the cost and efficiency of programs and recommend changes as appropriate. The work is of a national scope and impact, and involves dealing with managers, owners, Field Offices, program centers, REAC, Headquarters, and other HUD areas. Your role as a Financial Analyst is also to serve as an advisor or subject matter expert (depending on seniority/experience), providing technical advice and guidance on financial matters relating to HUD programs. Unlike many positions which are standard throughout HUD programs, there is great variability in the work done by Financial Analysts depending on program needs. Typical responsibilities include review, processing, analysis, validation, and approval of financial documents and data such as program budgets, reservation, commitment, and obligation of funds, scheduling of payments, and financial yearend statements. Other typical responsibilities include interacting with staff in the Field Offices and Headquarters for resolution of audit findings related to the financial management of program participants; preparing correspondence; analyzing data to keep abreast of program compliance and performance obligations; leading or serving as a member of a team to develop appropriate solutions to complex issues and problems; and generating appropriate financial transactions. Your Expertise Financial Analysts are involved in diverse activities and program-specific work across HUD, though all Financial Analyst roles require knowledge of and strict adherence to available rules, regulations, statutes, policies, procedures, and detailed guidelines pertaining to financial management and funding aspects of HUD programs. These include legislative statutes, Departmental regulations, and HUD program participant contractual agreements. You use these established policies and procedures to obtain information on unusual cases and identify any potential changes needed on interpretation and development of guidelines. You should have the ability to apply basic problem solving techniques to review financial data from selected sources, identify problems, select appropriate courses of action from many acceptable alternatives, and inform your supervisor of findings on owners or managers nationwide. Comprehensive financial knowledge is needed to determine causes of problems in varying areas of the country with numerous external factors involved. Previous Experience 1 Financial Analyst Career Path Guide

5 It is advantageous for you to have experience in the following areas: performing financial analysis and evaluation work requiring a comprehensive knowledge of (1) corporate finance and specialized fields of finance (e.g., public finance, securities, international finance, money and securities markets, investments, and banking) and (2) the financial and management structure, operations, and practices of corporate and other organizations. Key Duties and Responsibilities GENERAL ALL GS LEVELS The Financial Analyst role involves increasing levels of oversight and responsibility as you grow in your career with HUD. There are several core duties and responsibilities that are common to non-trainee grade levels (GS-9 through GS-14) in the Financial Analyst series and most program areas. Below are examples and descriptions of major responsibilities for Financial Analysts, though their relevance to your work depends on the program in which you work. Please note that the duties and responsibilities listed here and in the following sections should be interpreted as examples of work you may encounter during your career at HUD; they will not all accurately reflect your work because the duties you perform are likely specific to your program. Financial Analysis You perform technical review and analysis of financial data reported on various documents such as budgets, requisitions, fiscal year end statements, year-end settlement statements, voucher assistance payments, disbursements, reconciliations master files, and annual operating budgets and formula expenses. You conduct risk and in-depth analyses of all aspects of financial management and systems for compliance with program regulations, and develop effective solutions/recommendations that may be incorporated into overall grantee management plans or actions to be undertaken. This involves accessing and using information from a variety of systems to make determinations regarding approval of program budgets, waivers related to operating expenses, financial management policies, and impacts to program financial risk, financial statements and scheduling of payments. Systems involved include, but are not limited to, HUDCAPS, LOCCS, PIC, VMS, FASS, SAS, Microsoft Access and Excel. Solving Financial Problems You recommend and implement creative solutions to financial problems and take an active role in implementing needed changes. Dealing with Financial Management Issues - You initiate and participate in team assignments as needed to deal with cross cutting financial management issues. When appropriate, you participate in teams established to address financial management issues or problems, to develop appropriate solutions (which often will be extended nationwide) to financial management issues and problems identified by either analysis or data or through contact with Field Office staff or REAC staff. You assist in the control, monitoring, sub-assignment, and oversight of allocations of operating subsidy funding for the FMD. Management and Performance Planning You assist the FMD Director in monitoring and evaluating management or performance plan goals, including input and feedback into the development and analysis of diagnostic data, monitoring and tracking accomplishments as assigned, providing input into the Management Plan reports, analyzing reports submitted on public housing operating expenses, shortfalls, over-leasing, and formula eligibility calculators, clarifying issues, and resolving problems related to goal achievement. Monitoring Compliance You assist Field Office staff in monitoring compliance of all program participants in the financial area including sufficiency of Operating Reserves, compliance with GAAP Reporting principles, inter-fund transfers, and program utilization. You utilize IDIS and other financial management systems to monitor and evaluate financial operation of CPD grantees in compliance with Department CPD program regulations, federal requirements, and effective use of grant program funds and final disposition of close-out agreements. You may develop and maintain comprehensive audit tracking systems for monitoring CPD program financial activities, conduct reviews and follow-up actions on Office of Inspector General (OIG) audits and applicable Federal Management Circulars to ensure timely and efficient responses to findings and recommendations. You work with other financial analysts to identify financial trends and coordinate as necessary with cross functional experts to develop strategies for dealing with these broad trends. Technical Assistance You provide targeted technical assistance requiring financial analyst expertise to assigned program participants by responding to questions, identifying technical assistance needs, and assisting in the development of tailored packages to address those needs using strategies such as peer to peer networks and developing accounting systems and cash handling procedures. You provide technical assistance and advice to the Field Offices, Headquarters, REAC, etc., as necessary on issues Financial Analyst Career Path Guide 2

6 relating to the financial management of the HUD programs. You may plan and conduct training for the assisted housing industry, Field Office staff and other customers on new procedures or policies to be utilized in the transmission of automated program data to the FMD. Recovery of Funds You conduct appropriate follow-up to recover funds, monitor repayment agreements, and manage debt collection repayment process. You assist in the identification of serious problems and patterns of potential fraud or abuse. Preparing Financial Reports and Other Written Materials You prepare and submit various statistical, programmatic, and administrative written reports, evaluations, plans and strategies on problems, issues, budgets, training needs assessment, travel, and most effective utilization of resources. You prepare written materials to describe program findings and recommendations, summarize the results of research and projects, recommend a solutions with supporting documentation and evidence, and describe proposed process changes in order to influence the opinion or action of others, negotiate agreement among conflicting parties, explain a complicated or technical issue, or explain unpopular or controversial decisions. You process special requests, controlled correspondence, and other correspondence as assigned (e.g., you may administer the financial aspects of a grant portfolio ensuring the accountability of the appropriate use of Federal Funds awarded to CPD grantees within an assigned jurisdiction). Preparing Recommendations You participate in meetings for the purpose of assessing and preparing recommendations for improved operations and performance, applying a thorough and comprehensive knowledge of the policies, laws, regulations, procedures, and methods of financial management, and exercise originality in developing and establishing standards, procedures, and instructions necessary to support the FMD, Field Office, REAC and other involved parties. Analyzing Data You analyze REAC results data for all program participants; identifying trends and developing material on financial management issues, regulatory guidance matters, and program changes for dissemination to the program participants. Creating and Strengthening Internal and External Partnerships Your work involves interaction with other HUD specialists or generalists in Headquarters, Field Offices, Program Center, or other Management centers on cross cutting issues and problems. You explore non-hud sources of technical assistance (e.g., non-profits, universities, etc.) and facilitate effective partnerships between HUD, residents, and management of organizations and entities participating in HUD programs. Utilizing Technology You utilize available computer equipment and data systems to maintain current financial data, track program participant performance trends and compliance issues, and generate appropriate work products. Providing Financial Guidance You directly provide advice and guidance for program participants on unique situations and cases which have not been previously encountered and for which there are no national procedures or experience. You provide advisory services related to specific tasks assigned and contribute to decisions made by supervisors relating to assigned tasks. You serve as a financial program matters resource, identifying operational and programmatic deficiencies as related to the assigned task, and provide your supervisor and peers with recommendations (solutions which have been effective in the past, novel techniques, and programs being used in other locations). You receive and review financial and funding documents, and make determinations regarding their accuracy and completeness. As a result of your recommendations, the amount and timing of funding to program participants is affected. You develop and/or participate in training for other staff members and FMD customers. You also serve as a technical specialist at local, regional, state and other conferences, seminars, workshops, etc., on HUD financial management issues and topics with oral and written presentations. Government Technical Monitoring You may be asked to serve in a limited capacity as a Government Technical Monitor (GTM) at the direction of the Division Director as needed for contracts related to the work of the FMD. This work may involve serving as primary liaison with the contractor and the responsible Contracting Officer; ensuring appropriate communication and flow of information; coordinating and monitoring any use of government space and equipment by contractors; and participating in pre-award and post-award activities Competencies ALL GS LEVELS 3 Financial Analyst Career Path Guide

7 The competencies below are relevant to all Financial Analysts across all GS Levels. Knowledge, skills and abilities are also presented by specific GS Level. Competency Principles of Accounting Financial Analysis Financial Management Problem Solving Computer Programs Oral Communication Written Communication Analytical Reasoning Organizational Awareness Description You have knowledge of generally accepted accounting principles, standards, and practices (for example, double entry accounting, accrual accounting), including the full accounting cycle and the preparation of work sheets, financial statements, ledgers, and journals. You have knowledge of the principles, methods, and techniques of financial analysis, forecasting, and modeling to interpret quantitative and qualitative data; including data modeling, earned value management, and evaluating key financial indicators, trends, and historical data. You understand the organization's financial processes and are able to prepare, justify, and administer program budgets, monitor expenditures, and use cost-benefit thinking to set priorities. You are able to identify problems; determine the accuracy and relevance of information; and use sound judgment to generate and evaluate alternatives and to make recommendations. You have knowledge of computer programs and their applications to perform a wide array of functions, including software such as Microsoft Office (ACCESS and Excel, including Visual Basic Programming), SAS, SharePoint, InfoPath, and MicroStrategy. You are able to express information (e.g., ideas or facts) to individuals or groups effectively, while taking into account the audience and nature of the information e.g., technical, sensitive, controversial); make clear and convincing oral presentations; listen to others; attend to nonverbal cues; and respond appropriately. You are able to recognize and use correct English grammar, punctuation, and spelling; communicate information (e.g., facts, ideas, or messages) in a succinct and organized manner; and produce written information, which may include technical material, which is appropriate for the intended audience. You take a well-ordered, logical approach to identifying and preventing problems, seeking and analyzing information, and developing solutions. You are aware of HUD s mission and functions; you understand how the social, political, and technological systems work; you are able to operate effectively within the policies, procedures, and regulations; you are able to apply your knowledge of key roles and responsibilities across organizational functions; and you are able to make recommendations concerning internal and external policy issues. Career Development - ALL GS LEVELS Many Financial Analysts enter with existing knowledge and skills in financial analysis and accounting; those that do not already have knowledge and skills in these areas will need to complete training in basic financial analysis. You will complete general HUD training upon entry, as well as specific training geared toward the program in which you work. On-the-job training is widely utilized in this career, and is specific to the work, systems, and tools within your program. Throughout your career at HUD, you are encouraged to take control of your career by participating in targeted developmental activities, taking relevant training, and seeking diverse and demanding Financial Analyst Career Path Guide 4

8 assignments that will allow you to develop your skills and learn new tools and methodologies as needed. Continually learning and investing in your education and training will help you better tackle obstacles on your job as well as increase the likelihood of your career advancement as a Financial Analyst. Participate in training and development areas that strengthen your skills in the following areas: Financial analysis. Organizational dynamics. OMB cost principles. Forensic accounting. Government accounting. Financial auditing techniques. Negotiation and influencing skills. Program training (e.g., PIH, OFO, CPD, Public Housing, Multi-family Housing). Budget rules according to the Federal Credit Reform Act of IDIS and PERMS (e.g., what is required for recipient data entry, how to strengthen recipient requests, and how to work within the system). Real-estate planning and development (e.g., underwriting, bidding, and construction management). Written and intranet materials that provide information about HUD and the scope of its mission, goals, objectives, and operations. HUD Core Competencies for all employees (General Skills Assessment). HUD Learning Management System (LMS) HUD Virtual University (HVU). Archived HUD Conferences and Seminars within HVU and Skillsoft. Online training (e.g., Khan Academy). The Importance of Mentoring Financial Analysts gain a significant amount of valuable learning on the job. They learn by experience working with client groups and from peers in both formal and informal mentoring relationships. Mentoring is an effective way to gain skills and develop competencies outside of a formal training setting. Mentors provide mentees with developmental feedback, challenging assignments, as well as technical coaching. Mentees have an opportunity to test out new behaviors and tasks and practice skills such as oral communication and negotiation with high-level officials tasks that are often challenging and critical to performance in this field. Mentors also benefit from the mentoring relationship. Serving as a mentor strengthens work-related skills, increases confidence, improves communication skills, and improves leadership skills. In addition, mentors benefit from the satisfaction of knowing they are helping someone else achieve their career goals. Entry-Level Financial Analysts should continually seek mentoring from Senior Financial Analysts, who should themselves look for opportunities to mentor the next generation of talent in this area. Advancement As a Financial Analyst, you have the opportunity to advance within your current role and to take on higher level roles at HUD Field Offices or at Headquarters. However, being eligible for promotion does not guarantee you will be promoted. Typically, you must compete and be selected for a vacancy at a higher grade level unless the promotion is within a "career ladder". Career ladder is the term used to describe a position that is filled at an entry 5 Financial Analyst Career Path Guide

9 level to allow an employee to develop, through training, to the full performance level. The promotion of an employee within a career ladder is made without competition. When a position has a range of grade levels, for example 5, 7, 9, 11, with a maximum grade of 12, and the vacancy announcement stated that there was promotion potential to the 12, it is a career ladder position. Normally, after completing one year you are eligible for promotion to the next grade. Financial Analyst Career Path Guide 6

10 Financial Assistant GS-5/7 Financial Analyst Grade Levels As a GS-5/7 Financial Assistant, you are an employee receiving training in financial analysis and evaluation. You are responsible for receiving training through on-the-job, classroom, conference, lecture, or other training in order to learn the application of basic financial principles, theories, and practices to the kind of financial work conducted by HUD; pertinent statutory and regulatory provisions governing the activities of HUD; HUD policies and objectives; and the methods and procedures applicable to the duties assigned. Your responsibilities may include selected Key Duties and Responsibilities such as financial analysis, dealing with financial management issues, monitoring compliance, preparing recommendations, and recovery of funds. As a GS-5 Financial Assistant, typical duties include searching records, files, and/or other readily accessible sources for information pertaining to documents to determine consistency with or find discrepancies between currently and previously filed information; assembling information concerning specified items from various readily accessible, commonly-used sources for the use of employees engaged in more difficult financial work; and checking applications, filings, or other forms for compliance with instructions regarding the forms used for filing, proper execution of legal documents, presence of required supporting documents, and similar matters. As a GS-7 Financial Assistant, you perform progressively more difficult financial analysis and evaluation assignments for developmental purposes. Your assignments require the application of specific established work methods and procedures, instructions, rules, and regulations that are clearly pertinent to the question involved. They usually involve the assembly, verification, and correlation of factual information in current applications, filings, reports, and similar material with factual information contained in readily available sources such as files, records, reports, correspondence, or previously submitted material. Your work requires analysis of low complexity accounting/financial issues or problems, and developing conclusions and solutions produced through accurate and adequate accumulation of factual information. Your responsibilities may include: Inspecting and reviewing self-regulatory systems of securities exchanges, involving the development of factual data from records of investigations, disciplinary actions, reports of members, interviews with employees of securities exchanges, or other readily accessible prescribed sources Analyzing data to determine the effectiveness of self-regulatory systems and conformance with regulatory requirements; and preparing detailed reports covering all significant matters and the basis for the conclusions drawn. Assisting with analytical studies to determine the financial position of applicants for capital assistance in community facility projects; applying instructions regarding the purpose of the study, appropriate sources of information, and the methods to be used in accomplishing the work; considering financial and operational data submitted by applicants; compiling pertinent material from various standards or prescribed sources; preparing schedules of loan maturities, statistical charts reflecting the financial and operating characteristics of applicants and similar material; and preparing summary reports. Examining filings made under disclosure requirements pertaining to securities transactions, when the disclosure problems are the kind normally encountered in the filings of less complex business organizations; comparing the information in the filing under consideration with information in previous filings by the same company, with relevant material in filings by other companies, and with information in financial reporting publications and other sources; evaluating such material to determine whether it is accurate, consistent, and a full and fair disclosure of economic and financial condition; and recommending, for example, the issuance of requests for amendments to correct deficiencies, or the investigation of the affairs of the registrant, or the institution of administrative or court proceedings. Education & Qualifications At the GS-5/7 level, you should have at least one year of specialized experience at a level of difficulty and responsibility equivalent to the GS-5 grade level in the Federal service. You can also qualify for this position with a bachelors or graduate level degree with a major field of study of finance, business administration, economics, accounting, insurance, engineering, mathematics, banking and credit, law, real estate operations, or statistics. 7 Financial Analyst Career Path Guide

11 Knowledge, Skills, and Abilities Knowledge of Financial Management Guidelines. You have basic knowledge of rules, regulations, and statutes pertaining to financial management and funding aspects of HUD programs. Knowledge of Financial Analysis, Financial Management, and Accounting. You have basic knowledge of accounting principles and practices, financial markets, banking, and analysis and reporting of financial data. Skill in Problem Solving. You are able to apply basic problem solving techniques to the review of financial data from selected sources, to identify problems, and inform your supervisor of findings on contract administrators, owners, or managers nationwide. At GS-5/7, focus on the following Training Areas and Development Activities: Basic finance, accounting, and monitoring. HUD organizational mission, goals, and objectives. Read financial statements to understand their contents. Take training and gain experience in Microsoft Office, InfoPath, MicroStrategy, and SharePoint. Learn from others on the job (e.g., obtain on-the-job training, ask others for guidance). Work with your supervisor and assist with the development of an Individual Development Plan. Seek out a mentor for technical and/or career guidance. At GS-5/7, try to gain Work Experiences in these areas: Actively participate on teams. Conduct research to gather information in support of work-related projects. Communicate work-related information to team lead and/or supervisor. Interact with peers and coworkers to gather and exchange information. Financial Analyst Career Path Guide 8

12 FINANCIAL ANALYST (GS-5/7) CAREER MAP 9 Financial Analyst Career Path Guide

13 Financial Analyst GS-9 As a GS-9 Financial Analyst, you perform the duties of a first-level journeyman; you are responsible for completing all prescribed steps in completing financial analysis, evaluation, examination, review, or study independently in assigned cases. You use standard reference works, financial publications and reporting services, credit agencies, agency manuals, material in files and records, and other similar commonly-used and immediately available source materials. You utilize and apply standards, well-established techniques, methods, procedures, and clearly applicable statutory or regulatory provisions; prepare detailed reports to show sources of information and explain the basis for conclusions; and recommend one of two or more prescribed alternative actions on the basis of analysis and evaluation. Cases assigned involve the full range of situations and circumstances normally encountered in financial analysis and evaluation work of limited difficulty. Problems of an unusual nature occur infrequently, if at all; those that do occur have been encountered previously and which can be readily detected through the use of established methods and techniques. You may be assigned segments of difficult cases for the purpose of developing the knowledge and abilities required to perform financial analysis and evaluation work of the difficulty described at the GS-11 level. Your responsibilities may also include: Making special analyses, as required, including the assembly of necessary program and financial data, and preparing narrative materials, studies, and reports. Assisting in the review of loan eligibility criteria, required data elements for loan sale databases, loan documents, and other information included in Asset Review files and Detailed Investor packages. Assisting in the preparation of credit reform analysis for various types of asset sales programs. Analyzing and evaluating securities filings for well-established organizations (i.e., have readily available and substantial information on their operations, whose previous filings are prepared by persons familiar with disclosure requirements, have raised no complex disclosure problems, and whose operations and financial transactions are of routine type). Determining the financial capability of present and potential contractors for well-established companies. Evaluating the soundness of proposed financing plans for financial assistance in community facility projects. Reviewing and approving program financial documents and the accuracy of formula grant calculations. Performing quality control and validation of quarterly and annual payment amounts. Education & Qualifications As a GS-9 you should possess at least one year of specialized experience at a level of difficulty and responsibility equivalent to the GS-7 grade level in the Federal service, which includes reviewing and analyzing rules, regulations, and financial data to assist in the administration of financial operations; researching, identifying problems, and making recommendations; assisting with audits; performing analyses; reviewing results, offerings, data, or sale prospectuses; and preparing financial reports. You may also qualify for this position with a master s graduate degree, LL.B., or J.D. with a major field of study of finance, business administration, economics, accounting, insurance, engineering, mathematics, banking and credit, law, real estate operations, or statistics. Knowledge, Skills, and Abilities Knowledge of Financial Analysis Guidelines. You have intermediate knowledge of rules, regulations and statutes pertaining to financial management and funding aspects of HUD programs (laws, regulations, OMB circulars, GAAP, GASB). Knowledge of Financial Analysis, Financial Management, and Accounting. You have intermediate knowledge of accounting principles and practices, financial markets, banking, and analysis and reporting of financial data. Skill in Problem Solving. You are able to apply intermediate problem solving techniques to the review of financial data from selected sources, to identify problems, and inform your supervisor of findings on owners or managers nationwide. Financial Analyst Career Path Guide 10

14 At GS-9, focus on the following Training Areas and Development Activities: Critical Thinking. Risk management. Presentations and briefings. HUD organizational mission, goals, and objectives. HUD information systems and computer applications. Program-specific functions and roles. Join an industry or professional associations. Develop mentoring relationships. Seek shadowing opportunities through your supervisor. Study technical writing as it applies to your work role. Seek out a mentor for technical and/or career guidance. At GS-9, try to gain Work Experiences in these areas: Understand and analyze audits. Resolve common findings within the agency. Conduct research to gather information in support of work-related projects. Proactively identify problems and make recommendations to management. Research and interpret regulations. FINANCIAL ANALYST (GS-9) CAREER MAP 11 Financial Analyst Career Path Guide

15 Financial Analyst GS-11 As a GS-11 Financial Analyst, you perform duties of increased complexity; you work in a journeyman role and perform a full range of assignments with substantial independence. You plan and carry out non-complex financial analysis and evaluation assignments or projects of average difficulty or complexity and select the approaches and methods to be used in solving problems. You work to resolve questions that are similar to recurring problems, require consideration of a substantial number of elements and a considerable amount of research, and can be resolved through comparative analysis and evaluation of analogous elements. You recognize, analyze, and refer cases to your supervisor that involve questions in the applicability or interpretation of legislative, regulatory provisions, and/or the suitability or effectiveness of established work methods and procedures. Some assignments will be of greater than average difficulty to develop the knowledge and abilities required to recognize and resolve unusual problems and perform complex financial analysis and evaluation work. Your responsibilities may include: Completing all of the steps in an assigned examination, investigation, review, or other type of financial analysis and evaluation assignment. Resolving corporate finance problems such as recapitalization involving the exchange of one type of security for another or municipal projects involving a combination of public works facilities (e.g., simultaneous construction of both a gas supply and a water supply system). The corporate organizations involved are typically of average size engaged in commonly-known kinds of commercial, industrial, educational, construction, municipal, or other operations of conventional types. Interacting with attorneys, engineers, desk officers, or other employees to insure engineering feasibility, legal validity, and economic soundness of capital assistance proposals, and to maintain current information regarding foreign economic, political, or similar conditions affecting such proposals for use in establishing trends and developing loan terms and conditions. Interacting with representatives of foreign governments to explain the need for, the developmental advantages of, and the requirements to be met in connection with capital assistance projects for underdeveloped countries. Interacting with employees of other Federal agencies engaged in related activities to coordinate projects of mutual concern. Education & Qualifications At the GS-11 level, you should possess at least one year of specialized experience at a level of difficulty and responsibility equivalent to the GS-9 grade level in the Federal service including: researching and extracting data to identify problems and trends; analyzing financial resources, data, and reporting/accounting systems; assisting with drafting financial management policies, audit findings, or other documentation; applying analytical and problem solving techniques to identify trends, issues, implement reviews, conduct monitoring, and recommend creative solutions; and ensuring financial accountability and compliance with federal rules, regulations, laws, and policies. At the GS-11 level, you may substitute a Ph.D. or an equivalent doctoral degree, or three full years of progressively higher-level graduate education leading to such a degree or an LL.M. for experience at the GS-11 level with a major field of study of finance, business administration, economics, accounting, insurance, engineering, mathematics, banking and credit, law, real estate operations, or statistics. Knowledge, Skills, and Abilities Knowledge of Financial Analysis Guidelines. You have advanced knowledge of rules, regulations, statutes, and established work methods and procedures pertaining to financial management and funding aspects of HUD programs (laws, regulations, OMB circulars, GAAP, GASB). Knowledge of Financial Analysis, Financial Management, and Accounting. You have advanced knowledge of accounting principles and practices, financial markets, banking, and analysis and reporting of financial data; you are able to analyze, determine causes of, and solve medium-scale complex issues in varying areas of the country with numerous external factors involved. Skill in Problem Solving. You are able to apply advanced problem solving techniques to the review of financial data from selected sources, to identify problems, and inform your supervisor of findings on owners or managers nationwide. Financial Analyst Career Path Guide 12

16 At GS-11, focus on the following Training Areas and Development Activities: HUD organizational mission, goals, and objectives. Seek out a mentor for technical and/or career guidance. Attend conferences, meetings, or seminars. Conduct interviews/informational sessions with senior analysts for insight into critical skills for success. At GS-11, try to gain Work Experiences in these areas: Proactively identifying problems and making recommendations to program officials. Lead small projects or tasks within broader projects. Prepare technical documents and reports. Seek or self-nominate for detail assignments. Gain collaborative workgroup assignments. Seek assignment to Special Projects. Participate in committees. FINANCIAL ANALYST (GS-11) CAREER MAP 13 Financial Analyst Career Path Guide

17 Financial Analyst GS-12 As a GS-12 Financial Analyst, you work at the full journeyman performance level. You are involved in complex situations and serve as subject matter expert for financial matters relating to HUD programs. Your work involves planning, administering, and monitoring expenditures to ensure cost-effective support of programs and policies; assessing financial conditions; solving problems that are new, unusual, or unprecedented, and require definition of the problem; and developing new methods and procedures to resolve new and unusual problems. Your work is considered technically authoritative and is normally accepted without significant change; you independently plan and carry out the assignment or projects and select the approaches and methods to be used in solving problems; you decide what needs to be done for complex work based on analysis of the subject and issues related to the assignment. Your responsibilities may include: Monitoring compliance in the sufficiency of Unrestricted Net Assets and Net Restricted Assets and serving as the subject matter expert, assisting other financial program analysts to identify financial trends. Preparing funds assignments. Coordinating meetings to assess and prepare recommendations. Participating in accounting/financial reporting systems, policies, and/or procedures; analyzing systems or procedures for efficiency; developing policies or procedures; documenting system functionality or procedures; monitoring systems for accuracy and compliance; recommending additional reporting requirements or solutions. Performing cash management duties; analyzing cash positions, and making recommendations on cash management strategies. Developing funding and financial management policies related to programs, monitoring funds, and allocations. Developing, maintaining, and updating budget and funding models; position papers, notices, and memos; MS Access databases and/or Excel spreadsheets. Interpreting and applying the U.S. Treasury Financial Manual and OMB Circular A-11 pertaining to disbursements and receipts. Performing authoritative guidance (e.g., treasury financial management, agency specific) for applicability to develop procedures for online receipt and disbursement of funds and/or financial statements. Developing procedures to forecast and reconcile program expenditures; forecasting of program expenditures to develop monthly cash flow projections; reconciliations of program expenditures transactions to U S Treasury fund balances; and/or forecasting of program expenditures and reconciliation of program revenue to provide cash flow projections. Applying GAAP related requirements and disclosures to mortgage assets; posting transactions to the General Ledger; preparing accounts payable and accounts receivable vouchers; preparing trial balances; performing reconciliations; and providing guidance to posting to internal and external customers. Assessing compliance, financial soundness, solvency, and programmatic aspects of the program including but not limited to financial reporting, internal controls, use of funds, and program utilization. Helping others learn through formal or informal methods; identifying training needs; providing constructive feedback; coaching others on how to perform tasks; acting as a mentor. Providing training and briefs for other staffers, e.g., teaching financial concepts to organizations serving low-moderate income persons. Qualifications At the GS-12 level, you should possess at least one year of specialized experience at a level of difficulty and responsibility equivalent to the GS-11 level in the Federal service, which includes applying accepted auditing standards for conducting grants management oversight; utilizing financial systems and technology in conducting financial monitoring of grantee activities and audit resolutions; modeling, managing, developing, and analyzing large volumes of financial and programmatic data; applying analytical and problem solving techniques to resolve financial management issues; and articulating goals/objectives to large governmental programs or private sector/non-profit businesses. Financial Analyst Career Path Guide 14

18 Knowledge, Skills, and Abilities Knowledge of Financial Analysis, Financial Management, and Accounting. You have extensive financial knowledge needed to determine causes of problems in varying areas of the country with numerous external factors involved and create long term solutions/resolution. Skill in Analytical Reasoning. You have advanced skills in analytical reasoning; you are able to find and utilize information in records, interview staff, and take a well-ordered, logical approach to identifying and preventing problems, analyzing information, and developing solutions At GS-12, focus on the following Training Areas and Development Activities: HUD organizational mission, goals, and objectives. Budget regulations and processes. Build an informal network of peers through which you can exchange ideas and discuss issues relevant to technical advances in your field. Seek out a mentor for technical and/or career guidance. Scientific Course Seminars and Workshops. Communicating Analysis Results. At GS-12, try to gain Work Experiences in these areas: Proactively identify problems and making recommendations to management. Present findings to diverse audiences and senior-level stakeholders. Manage large or complex projects. Volunteer to participate in a high-visibility project. Complete/Lead special project(s). 15 Financial Analyst Career Path Guide

19 FINANCIAL ANALYST (GS-12) CAREER MAP Financial Analyst Career Path Guide 16

20 Financial Analyst GS-13 As a GS-13 Financial Analyst, you serve at the senior journeyman level; you are a subject matter expert on financial management and accounting. You perform complex assignments independently; perform examinations, reviews, or other financial analysis and evaluation studies involving questions or problems that are new, unusual, and/or of greater than average difficulty; recommend and implement creative solutions to complex financial problems; and take an active role in implementing needed changes. Difficult or complex issues that you deal with may include: new commercial, industrial, municipal, or other operations or activities; complicated and interrelated financial and/or operating structures; proposals or matters for which there appears to be adequate legislative authority but which are not covered in established policy; questions which cannot be resolved through the application of standard analysis and evaluation methods; and questions concerning the interpretation or applicability of legislative or regulatory provisions for which there are few, if any, precedents. You perform complicated and difficult analyses and evaluations, requiring consideration of elements that are both numerous and varied, and of the interrelationships among them; this includes determining the scope of the study, developing sources of material appropriate for the evaluation of new or unique types of activities or operations, developing new or adapted work methods and procedures, performing considerable research to identify material suitable for use as a precedent or as an indicator of appropriate action in unprecedented cases, and developing tentative conclusions based on evaluation of previous cases, and preparing reports which adequately describe the issues or problems involved. In addition to the responsibilities at the GS-12 level, your responsibilities may also include: Serving as a resource for other staff members, team or project lead, and subject matter expert in dealing with financial management issues and in the development of new updated processing procedures and policies. Developing and maintaining complex MS Access databases and/or Microsoft Excel spreadsheets. Serving and actively participating in staff development as a trainer or mentor; and providing training and briefs for other staffers. Developing tentative conclusions and initial recommendations with respect to problems or questions of a new or unprecedented nature. Performing cash management duties based on OMB/Treasury requirements and recommending transactions or adjustments that will affect the financial statements in accordance with Generally Accepted Accounting Principles. Qualifications At the GS-13 level, you should possess at least one year of specialized experience at the GS-12 level in the Federal service. Specialized experience includes: experience assessing, scrubbing, modeling, managing and analyzing large volumes of financial and programmatic data; applying analytical and problem solving techniques to identify trends and issues, implementing reviews, conducting monitoring, and recommending creative solutions to complex situations; serving as a project manager or team leader to provide direction or technical assistance; conducting both verbal and written financial analysis; and developing financial analytical reports to present at all levels of management and industry stakeholders. Knowledge, Skills, and Abilities Knowledge of Financial and Management Operations. You have comprehensive knowledge of financial and management operations and practices of commercial or other corporate organizations in performing financial analysis and evaluation duties of more than average difficulty. Skill in Mentoring. You ensure that mentoring is utilized to effectively accomplish organizational goals and assist colleagues. At GS-13, focus on the following Training Areas and Development Activities: Negotiation. Mentoring. Public health policies, laws, and regulations related to program. Budget Fundamentals, Formulation, and Execution. Learn new technologies (e.g., through self-study, seminars). 17 Financial Analyst Career Path Guide

21 Read technical publications to keep up-to-date on developments in your field (e.g., books, professional newsletters, trade journals). Study lessons learned from reviews of failed and successful projects. Mentor others informally or formally, providing technical and career guidance. At GS-13, try to gain Work Experiences in these areas: Proactively identify problems and make recommendations to program officials with consideration of costbenefit. Develop evidence-based recommendations. Lead work groups and teams. Stay informed on news within and outside of the organization that could affect HUD s work. Network within HUD; check-in with what is going on with organization as a whole. Lead and manage the work of diverse teams. Navigate the political environment. FINANCIAL ANALYST (GS-13) CAREER MAP Financial Analyst Career Path Guide 18

22 Lead or Supervisory Financial Analyst GS-14 As a GS-14 Financial Analyst, you serve as a senior advisor and subject matter expert for issues related to regulatory and statutory requirements, the federal budget formulation process, and financial management policy for the HUD programs. You lead and perform technical review and analysis of complex financial data, make recommendations to the Division Director and provide expert-level technical assistance. Your responsibilities may include: Assessing the compliance, financial soundness, solvency, and programmatic aspects of the program including but not limited to financial reporting, internal controls, use of funds, and program utilization. Monitoring compliance in the sufficiency of Unrestricted Net Assets and Net Restricted Assets and serving as the subject matter expert, assisting other financial program analysts to identify financial trends. Serving as lead on technical reviews and analyses of complex financial situations and in the development of new updated processing procedures and policies. Serving as team lead in meetings to assess and prepare recommendations and taking a lead role in implementing in creative and needed changes. Serving as lead in coordination with the Field Office staff in monitoring compliance of all program participants in the financial area. Reviewing and analyzing financial or year-end statements. Developing and administering FMD training. Performing quality control and validation of quarterly and annual payment amounts. Maintaining external contacts with the industry and key stakeholders that can be leveraged in support of your program. Reviewing financial data from selected sources, identifying problems, and informing supervisor of findings on owners or managers nationwide. Mentoring, providing training, and offering shadowing opportunities to other lower level financial analysts. As a GS-14 Financial Analyst, you may have additional supervisory managerial authority, which includes the following managerial responsibilities: Reviewing and evaluating operations to make work assignments; assessing and enhancing program and policy efficiency and effectiveness; and making, coordinating, and/or recommending improvements. Interviewing candidates and making selections for supervisory, non-supervisory, and team leader positions. Developing performance standards; evaluating immediate subordinate and supervisory work performance; serving as reviewing official for performance evaluations completed on non-supervisory employees by branch heads; and assuring equity among subordinate performance standards and rating techniques developed by branch heads. Qualifications At the GS-14 level, you should possess at least one year of specialized experience at the GS-13 level in the Federal service. Knowledge, Skills, and Abilities Skill in Negotiation. You have advanced skill in diplomatic negotiation to foster an understanding of programs, policies, and regulations, obtain compliance with guides or requirements, and to promote full cooperation to contacts who may be skeptical and/or uncooperative. Skill in Project Management. You have advanced skills to plan, organize and direct the work of staff, and use objectivity and fairness when judging staff on their ability, and resolving situations on facts and circumstances. Skill in Mentoring. You ensure that mentoring is utilized to effectively accomplish organizational goals and assist colleagues. 19 Financial Analyst Career Path Guide

23 Knowledge of HUD Goals and Objectives. You have advanced knowledge of Agency civil right policies, goals, objectives, and philosophies of valuing diversity in performing everyday duties and responsibilities. At GS-14, focus on the following Training Areas and Development Activities: Advanced leadership. Negotiation. Decision-making. Problem-solving. Time management. Resource management. Effective communication. Grant management. Budget laws and requirements. At GS-14, try to gain Work Experiences in these areas: Stay informed on news within and outside of the organization that could affect HUD s work. Network within HUD; check-in with what is going on with organization as a whole. Be aware and cautious regarding political climates. FINANCIAL ANALYST (GS-14) CAREER MAP Financial Analyst Career Path Guide 20

24 Lead Financial Analyst or Financial Management Director GS-15 As a GS-15 Financial Analyst Manager, you have responsibility for the management and direction of a Financial Management Division (FMD). You have oversight responsibility for the management, administrative, and technical direction of a FMD, and serve as principal advisor to the Director of the Program Office. You work to attain the efficient and effective operation of the Division, adherence to policies and regulations, and the accomplishment of goals and objectives established for the FMD. Your work primarily involves reviewing issues and resolving critical problems, and significantly impacts agency and/or headquarter operations. Technological advances are usually untried and require extensive planning to integrate into existing systems and design criteria must be established that can accommodate changes in projected legislative directions or management philosophies. Your responsibilities may include: Developing policy and procedures for all aspects of the financial management in accordance with guidance and direction received from the Director to assure the most effective management of the of the Department's authorized budget authority. Initiating, planning, developing, and directing the implementation of financial policies, procedures, including applicable regulations, handbooks, and HUD forms for use by PHAs and HUD Offices under the policy direction of the Director of the Office. Planning, developing, designing, coordinating, executing, and maintaining major aspects of varied difficult and complex work involving critical, urgent, constantly changing programs, systems, sub-systems and activities that support HUD agency missions. Making major recommendations that directly and substantially affect division operations and programs, including issues involving complex economic and political factors; changes in the organizational structure; short and long-range goals, objectives, resources and schedules to meet changes in program; and funding and legislation under the policy direction of the Director of the Office. Developing, coordinating and recommending internal and external program policy issues that affect division operations; short and long-term program missions, objectives, goals, schedules and functional or operational initiatives to meet new and technological developments or changes in program, legislation and or funding requirements; program initiations eliminations; organization structure changes; program cost reductions and improved operating efficiencies and effectiveness; budget resource allocations; and operating program planning, insurance, policies, procedures, financial management, or regulations. Evaluating the effectiveness of program financial policies and procedures; the manner in which HUD offices, FMD, and the PHAs are implementing such policies and procedures; and recommending and implementing corrective or alternative actions or approaches, including regulatory, handbook, or form changes. Serving as senior subject-matter expert when providing information and technical assistance, coordinating joint activities, and maintaining close communications and operating relationships with Headquarters staff, HUD offices, and PHAs. Presenting, explaining, and defending agency positions and proposals, and establishing cooperative relations with Senior Executives. Providing contractor support with the program requirements for maintenance and the on-going revisions and enhancements for systems. Reviewing issuances, initiated by other offices as to their financial management aspects prior to their issuance, submitting comments and recommendations, and reviewing and approving the required documents obligating funds. Developing and maintaining the budget and accounting systems for Departmental programs. Preparing and monitoring accuracy of budget estimates for renewals and cost amendments. Providing lead on LOCCS and other automated financial data systems. Preparing and updating all financial forms and preparing requests for OMB approval. Participating with the Director of the Office in the review of financial management policies and of the adequacy of financial control mechanisms. 21 Financial Analyst Career Path Guide

25 Directing, planning, overseeing, and coordinating Division operations. Allocating, controlling, and ensuring efficient use of Division resource (e.g., funds, personnel, property). Explaining processes and agency position at meetings, conferences, presentations, or briefings involving issues of considerable consequence and importance to division programs. As a GS-15 Financial Analyst, you may have additional supervisory managerial authority, which includes the following managerial responsibilities: Reviewing and evaluating operations to make work assignments; assessing and enhancing program and policy efficiency and effectiveness; and making, coordinating and/or recommending improvements. Interviewing candidates and making selections for supervisory, non-supervisory and team leader positions. Developing performance standards; evaluating immediate subordinate and supervisory work performance; serving as reviewing official for performance evaluations completed on non-supervisory employees by branch heads; and assuring equity among subordinate performance standards and rating techniques developed by branch heads. Resolving serious work related problems or complaints; reviewing and approving serious disciplinary actions proposed by subordinate supervisors; and making decisions on work problems presented by subordinate supervisors and on training costs that are costly, non-routine, or controversial. Monitoring administered contracts; providing guidance and advice; approving within-grade increases, extensive overtime, and travel expenses; and recommending personnel awards bonuses and changes in personnel management actions, subject to review and or final approval by higher level officials. Education & Qualifications At the GS-15 level, you should possess at least one year of specialized experience at the GS-14 level in the Federal service. Knowledge, Skills, and Abilities Skill in Negotiation. You have expert skill in diplomatic negotiation to foster an understanding of programs, policies, and regulations, obtain compliance with guides or requirements, and to promote full cooperation to contacts who may be skeptical and/or uncooperative. Skill in Mentoring. Even in the most difficult situations, you ensure that mentoring is effectively employed to accomplish organizational goals and assist colleagues. Skill in Management. You have expert skill in planning, organizing, and directing the work of staff, and use objectivity and fairness when judging staff on their ability, and resolving situations on facts and circumstances. Even in the most difficult situations, you ensure the core principles of project management are effectively employed. Knowledge of HUD Goals and Objectives. You have expert knowledge of Agency civil right policies, goals, objectives, and philosophies of valuing diversity in performing everyday duties and responsibilities. You are able to apply comprehensive knowledge of major interrelationships between Agency programs, contractors, subcontractors and vendors to identify and solve critical operating program problems affecting division and agency missions. At GS-15, focus on the following Training Areas and Development Activities: Advanced leadership. Negotiation. Decision-making. Problem-solving. Time management. Resource management. Effective communication. Financial Analyst Career Path Guide 22

26 Grant management. Budget laws and requirements. At GS-15, try to gain Work Experiences in these areas: Directing implementation of curricula, training materials, and participating in formal and informal financial management training programs for Headquarters and HUD offices. Participating in national and regional conferences, workshops, seminars, or meetings concerned with program financial concerns. Making presentations and serving as key program resource in interaction with Congressional and committee staff, GAO, and other external organizations regarding financial issues. Stay informed on news within and outside of the organization that could affect HUD s work. Network within HUD; check-in with what is going on with organization as a whole. Be aware and cautious regarding political climates. FINANCIAL ANALYST (GS-15) CAREER MAP 23 Financial Analyst Career Path Guide