The Compliance and Audit Analyst is responsible for ongoing risk identification and mitigation for Grantees and Contractors. This may involve reviewing Grantees and Contractors’ compliance to the financial requirements specified in First 5 LA’s grant agreements and contracts. This position is also responsible for developing and implementing tools to identify financial risks within the organization’s program areas and develops and recommends policies and internal controls to strengthen First 5 LA’s ability to ensure funding is appropriately utilized by Grantees and Contractors. In addition, s/he may objectively review and provide recommendations to First 5 LA’s business processes and evaluate the efficacy of accounting policies and procedures that are currently in place.
ESSENTIAL DUTIES & RESPONSIBILITIES
The Compliance and Audit Analyst should visibly demonstrate the adopted organizational values of collaboration, integrity, respect, accountability, purpose, shared leadership and learning in the execution of their key areas of responsibility:
Key Areas of Responsibility:
- Grantee and Contractor Financial Compliance and Expense Validation Review
- Grantee and Contractor Financial Desk Audits
- Grantee and Contractor Risk Identification and Mitigation
- Collaborates with department/division staff to elevate and assess financial management issues for current Grantees and Contractors, develop corrective action plans required to achieve financial compliance
- Develops and maintains financial audit and compliance review processes and documentation; organizes and facilitates trainings to ensure communication of processes
- Communicates and coordinates financial audit and compliance review expectations and requests to the department/division finance and program staff
- Provides updates to executive leadership, directors, program and finance staff regarding completion of corrective actions identified through financial audits and compliance reviews
- Develops and maintains the criteria that triggers an independent financial audit or compliance review for Grantees and Contractors.
- Supervises all independent financial audits, compliance reviews and corrective action plans for Grantees and Contractors within approved budget and scope
- Provides leadership in developing department-wide finance-related grants management practices, tools and templates
- Collaborates with other departments to determine the level of financial analysis required for procurement processes via the Integrated Project Team (IPT)
- Performs pre-award assessments and analysis of potential First 5 LA funding recipients to assess their organizational financial health and management capabilities
- Performs post-award assessments and analysis of former First 5 LA funding recipients to assess their compliance to First 5 LA’s financial management requirements Ensures that all processes reflect up-to-date reimbursement principles and that processes are applied consistently across the organization
- Interacts with Director of Finance, Director of Contracts Administration & Purchasing, project team and legal on anticipated or actual financial risks and compliance issues that become apparent
- Provides guidance to Grantees and Contractors to maximize consistent, accurate awareness of billing & reporting standards, requirements and procedures
- Manages and monitors to ensure that: billing for non-compliant activity is halted, if necessary, upon discovery, corrective action plans are quickly developed and implemented.
- Maintains a consistent reporting process to provide First 5 LA with timely and relevant information on all aspects of relevant financial compliance issues
- Provides technical assistance on contract monitoring tools related to financial oversight of grantee and contractor’s use of First 5 LA funding
- Review First 5 LA’s business processes and make recommendations on how to improve internal controls and governance processes
- Randomly test processes of transactions and/or contracts to ensure compliance with relevant laws and statutes as well as internal policies and procedures
- Ability to exercise discretion in handling sensitive or confidential information or situations
- Supports the organization’s commitment to diversity and inclusion, and values a diversity of perspectives
- Adheres to policies and procedures to ensure alignment with State regulations, local ordinances and First 5 LA directives
- Keeps apprised of all laws, regulations, statutes, rules and policies affecting First 5 LA and Proposition 10
- Supervises contractors, as needed
- Collaborates both internally and with external stakeholders to capture, synthesize and share learning and knowledge outcomes from the ongoing execution of all activities, as needed
Other duties and responsibilities may be assigned. The duties and responsibilities listed are designed to provide typical examples of the work performed; not all duties and responsibilities assigned are included here, nor is it expected that all similar positions will be assigned every duty and responsibility.
Knowledge, Skills & Abilities:
- Commitment to organizational mission and values: Mission-driven and self-directed, with a demonstrated passion for First 5 LA’s work to strengthen families and improve child outcomes; strives to model organizational values through daily actions and behaviors
- Possesses Customer-Focused Mindset: Is aware of and considers relevant internal and external stakeholders and their needs (customers); identifies solutions to be responsive to stakeholder needs; considers impact when executing daily tasks
- Collaborative: Collaborates with peers to drive results in alignment with organizational and operational goals in support of the organization’s mission; is able to work in cross-functional teams; is able to establish and maintain effective working relationships with co-workers, public officials and the general public
- Communicates Effectively: Communicates effectively both written and oral; demonstrates active listening and comprehension; selects and uses appropriate communication methods to keep others appropriately informed; able to tailor messages appropriately to various audiences
- Demonstrates Integrity and Judgment: Follows through on commitments letting others know of his/her true intentions; ensures decision-making or recommendations are fact-based and others understand the decision/recommendation before moving forward; considers the relative costs and benefits of potential actions to choose the most appropriate one
- Demonstrates Critical Thinking: Applies critical thinking, logic and reasoning to effectively think through problems and information; identifies relative strengths and weaknesses of options, solutions or approaches
- Demonstrates Strategic Thinking: Considers issues and relationships relevant to achieving long range goals or vision; identifies alternatives based on logical assumptions, facts, available resources, constraints, and organizational values to layout several points of view on a course of action to accomplish goals
- Demonstrates Contribution to Diversity, Equity, and Inclusion: Supports equal and active participation of people and groups with diverse identities, race, ethnicities, abilities, characteristics, cultures, socio-economic status, opinions, and beliefs; continuously challenges assumptions, and is mindful of unconscious bias, and leverages differences; understands historical and current context and root causes of inequities within society, systems and institutions; values a diversity of perspectives and encourages contributions by all team members
Job Specific Competencies
- Role Specific Content: Demonstrated experience coordinating external and internal audit activities; demonstrated experience in grant management as it relates to compliance and reporting of government, corporate and foundation grants; demonstrated ability to implement and foster continuous improvement practices and create a learning environment based on LEAN; knowledge of fund accounting principles and practices and the analysis and reporting of financial data
- Content Knowledge: Competent in required job skills and knowledge; ability to learn and apply new skills; ability to learn how to operate new systems quickly; demonstrated ability to set priorities, establish clear expectations and execute identified projects; keeps abreast of current developments; requires minimal supervision; displays understanding of how job relates to others; knows how to use technology tools to effectively manage and expedite processes; uses resources effectively
- Planning and Organization and Project Management: Works in an organized manner with strong attention to detail; prioritizes and plans work activities; ability to effectively manage overlapping projects and deadlines; ability to work under pressure, meet deadlines and adjust to changing priorities; uses time efficiently; plans for additional resources; integrates changes smoothly; sets goals and objectives; ability to manage high performance projects
- Minimum of five years of progressively responsible finance, audits of grantees and contractors, risk management, project management experience for a major company or a large public or non-profit entity preferred
- Certified Public Accountant or equivalent designation preferred
- Bachelor’s degree from an accredited college or university in accounting, finance, business or public administration or a related field preferred
- Advanced degree a plus
- Proficiency in MS Office Suite (Word, Excel, PowerPoint, Outlook)
- Advanced Excel
- Ability to use widely supported internet browsers.
Certificates, Licenses and Registrations:
- Valid California Class C Driver License or the ability to utilize an alternative method of transportation when needed to carry out job-related essential functions
- Valid automobile liability insurance
- CPA preferred
- This position requires travel locally, statewide and nationally as needed
PHYSICAL REQUIREMENTS / WORK ENVIRONMENT
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The employee will sit, talk, hear and use hands up to 2/3 of the time. The employee will stand and walk up to 1/3 of the time. The employee is routinely required to carry and/or lift up to 10 pounds.
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 moderate.