A Financial Analyst working on government contracts is responsible for evaluating financial data, ensuring compliance with regulations, and supporting strategic financial planning. Their key responsibilities include:

Budget Analysis: Reviewing and analyzing budgets to ensure alignment with contract requirements and government financial guidelines.
Cost Forecasting: Predicting future expenses and identifying potential financial risks.
Financial Reporting: Preparing financial reports, variance analyses, and presentations for stakeholders.
Regulatory Compliance: Ensuring adherence to federal financial regulations, such as the Federal Acquisition Regulation (FAR) and Cost Accounting Standards (CAS).
Risk Assessment: Identifying financial risks and recommending strategies to mitigate cost overruns and inefficiencies.

Financial Analyst Job Description

Financial Analysts working on government contracts provide crucial financial oversight to ensure efficient and transparent use of funds. Their role involves:

Analyzing financial statements, budget reports, and expenditure data.
Developing financial models to support budgeting, forecasting, and cost analysis.
Monitoring spending and ensuring that costs align with government contract guidelines.
Conducting financial risk assessments and recommending corrective actions as needed.
Collaborating with contract managers, program managers, and procurement teams to optimize financial performance.

Job Requirements for a Financial Analyst

Required Knowledge, Skills, and Abilities:

Strong understanding of government financial regulations, including FAR, CAS, and GAAP.
Proficiency in financial analysis tools, Microsoft Excel, and enterprise resource planning (ERP) systems.
Strong analytical, problem-solving, and critical-thinking skills.
Excellent communication and presentation abilities.
Ability to work independently and manage multiple financial projects simultaneously.

Educational Background and Experience:

Bachelor’s degree in Finance, Accounting, Economics, or a related field (Master’s degree preferred).
3-5 years of experience in financial analysis, preferably in a government contracting environment.
Certifications such as Certified Government Financial Manager (CGFM) or Certified Public Accountant (CPA) are beneficial.

Workspace/Physical Requirements:

Office-based work environment with extended periods of computer use.
Occasional travel may be required for audits, reviews, or meetings with government agencies.

What does a typical job posting look like for a Financial Analyst?

Job Posting Example:

“We are seeking a highly skilled Financial Analyst to support our government contracting team. The ideal candidate will provide financial oversight, budget analysis, and cost forecasting to ensure compliance with federal regulations. The Financial Analyst will collaborate with program managers and senior leadership to enhance financial performance and accountability.”

Essential Job Functions:

Develop and manage financial models for budgeting and cost forecasting.
Ensure compliance with federal financial regulations and reporting requirements.
Analyze financial data to identify trends, risks, and cost-saving opportunities.
Prepare and present financial reports to stakeholders.
Support audits and financial reviews conducted by government agencies.

Salary Range

The salary for a Financial Analyst working on government contracts typically ranges from $65,000 to $110,000 per year, depending on experience, education, and specific contract requirements. Senior-level analysts may earn upwards of $120,000 in high-demand government contracting roles.