Contract Administration Financial Specialist

Job Description

Job Description

Description :

Job Title : Contract Administration Financial Specialist

Team : Finance

Reports To : Grant Accounting Supervisor

Grade : 12

Prepared By : Human Resources Director

Prepared Date : 03 / 20 / 2000

Approved By : CFO and Deputy Executive Director

Approved Date : 07 / 05 / 2001, 09 / 13 / 2002, Revised 02 / 10 / 04; 05 / 10 / 16; 04 / 06 / 18; 09 / 15 / 2020, 9 / 22 / 2025

SUMMARY

Entry level accounting position responsible for the financial reporting and payment process of the Contract Administration program.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

• Provide outstanding customer service to both external and internal stakeholders.
• Oversee the monthly voucher payment process, ensuring timely disbursement for eligible units under Housing and Urban Development (HUD) and the Tenant Rental Assistance Certification System (TRACS)
• Responsible for monitoring tenant files in Housing and Urban Development's (HUD) Tenant Rental Assistance Certification System (TRACS) to ensure properties are at or above 90% compliance.
• Responsible for the timely handling and processing of contract rent adjustments requested by owners, securing HUD approval when required, and ensuring the proper implementation of payments on voucher requests.
• Responsible for accurately maintaining and documenting records, worksheets, and work papers.
• Responsible for ensuring OHFA attains the Acceptable Quality Level (AQL) on all Incentive Based Performance Standard tasks.
• Responsible for identifying and correcting any Disincentive Deduction for any Incentive Based Performance Standard task as needed.
• Responsible for assisting the Grant Accounting Supervisor, CFO and the Deputy Executive Director in the creation of the annual work plan required by HUD.
• Assists with the monthly, quarterly, and annual reports as required by HUD.
• Responsible for monitoring, adopting, and implementing current and future HUD requirements and regulations governing the administration of Section 8 contracts.
• Responsible for submitting annual Section 8 year-end statements, and OHFA Annual Audits to HUD in a timely manner as identified in the RFP and for the Line of Credit Control System (LOCCS) cut-over process of newly assigned contracts.
• Responsible for assisting the Grant Accounting Supervisor with preparing and submitting 1099s to the IRS.
• Responsible for monthly bank reconciliation and general journal entries of the Contract Administration Program.

Requirements : QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and / or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION and / or EXPERIENCE

Bachelor's degree in Accounting, Finance or a Business-related degree; and at least two years of progressive accounting experience.

LANGUAGE SKILLS

Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.

MATHEMATICAL SKILLS

Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.

REASONING ABILITY

Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.

CERTIFICATES, LICENSES, REGISTRATIONS

Valid driver's license.

Must be bondable.

Must obtain Certified Occupancy Specialist (COS) certification within one year of hire date.

OTHER KNOWLEDGE, SKILLS, AND ABILITIES

Knowledge of and experience in Contract Administration preferred. Knowledge of the local, state, and federal laws governing the Contract Administration program. Ability to understand, act on, and interpret policies, regulations and procedures as set forth by the Housing Agency and / or HUD. Ability to establish, monitor, and achieve objectives through skillful delegation of duties.

Ability to establish and maintain effective working relationships with co-workers, vendors, consultants, contractors, tenants, HUD, and local, state, and federal officials. Working knowledge of Microsoft Office Applications Word, Excel, Outlook.

WORK ENVIRONMENT The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The noise level in the work environment is usually quiet.