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Financial Compliance Specialist

2 months ago

Cheraw, South Carolina, United States State of South Carolina Full time
Salary: $46, $86,321.00 Annually

Location : Chesterfield County, SC

Job Type: FTE - Full-Time

Agency: State of South Carolina

Division: Accounting

Class Code: AD25

Position Number: /123732

Normal Work Schedule: Other

Normal Work Schedule (Other): Monday - Thursday 8:00 a.m. to 5:00 p.m. Friday 8:00 a.m. to 1:30 p.m.

Pay Band: Band 6

EEO Statement: Equal Opportunity Employer

Job Responsibilities

Overview of the Financial Role

The Financial Compliance Specialist is tasked with overseeing the fiscal elements associated with grants, auxiliary services, and other funding sources allocated to the institution. This role is vital in ensuring that financial resources are utilized effectively, adhering to funding guidelines, and maintaining accurate financial records. The specialist collaborates closely with various departments, funding agencies, and auditors to uphold financial integrity and compliance.
  • Financial Oversight: Administers and supervises the financial operations of all grants and auxiliary services, ensuring alignment with funding guidelines and institutional policies. Prepares and maintains comprehensive financial documentation for each funding source, including budgets, expenditures, and income. Evaluates grant proposals and agreements to confirm they meet financial criteria and limitations. Ensures adherence to sound accounting practices to align funding expenditures and revenues with institutional financial operations.
  • Budget Planning and Monitoring: Works alongside grant managers and department leaders to formulate budgets for grants and auxiliary services, encompassing revenue forecasts, expenses, and indirect costs. Monitors budget execution, identifies discrepancies, and addresses issues promptly. Maintains organized financial records, ensuring all necessary documentation is accessible for audits.
  • Financial Reporting: Generates precise and timely financial reports as required. Produces regular financial summaries for stakeholders, providing insights into financial performance.
  • Grant Closeout Procedures: Manages the financial closure of grants and auxiliary services, ensuring all final reports, reconciliations, audits, and documentation are completed punctually.
  • Regulatory Compliance: Remains updated on federal, state, and other regulatory standards related to accounting, ensuring adherence to all financial practices associated with grants and auxiliary services. Conducts internal audits and collaborates with external auditors to ensure compliance with all relevant regulations.
  • Collaboration and Improvement: Engages with project managers, institutional departments, and other stakeholders to address financial matters and provide guidance. Acts as a resource for faculty, staff, and administrators regarding financial procedures and regulations related to grants and auxiliary services. Identifies opportunities for enhancing processes and efficiency in financial management.
  • Performs additional duties as assigned.
Minimum and Additional Requirements

State Minimum Requirements: A bachelor's degree in accounting, finance, business, or a related field, along with professional experience in accounting, auditing, finance, or commercial lending. A valid driver's license is required.
Preferred Qualifications: A bachelor's degree in accounting, finance, business, or a related field with three (3) years of directly related accounting experience. Knowledge of accounting principles, auditing practices, budgeting, and financial management laws and regulations is essential. Proficiency in Microsoft Excel and the ability to analyze complex financial data is preferred.
Additional Comments: Limited supervision will be provided by the Director of Finance. Some overnight travel may be necessary. Ability to lift up to 25 lbs and to sit or stand for extended periods is required.

Benefits

The State of South Carolina offers a comprehensive benefits package for eligible positions, including:
  • Health, Dental, Vision, Long Term Disability, and Life Insurance for Employee, Spouse, and Children.
  • Generous leave policy along with most State Holidays.
  • Work/Life Balance Work Schedule.
  • State Retirement Plan and Deferred Compensation Programs.
  • Professional Development opportunities.