Managing federal funds requires precision and dedication, particularly for transportation and infrastructure projects affecting countless Americans.
Within the Federal Highway Administration (FHWA), Financial Specialists play a vital role by ensuring accountability, promoting financial stewardship, and maintaining excellence across highway and transportation programs.
As financial specialists, we act as technical advisors, handling complex auditing processes, maintaining internal controls, and addressing financial management issues.
The position offers a median annual salary of $78,000, with earnings ranging from $65,000 to $93,000, reflecting the expertise and precision required to uphold federal regulations while maximizing efficiency.
Theri role extends beyond basic calculations – they actively shape transportation funding’s future. Through data analysis, audit support, and compliance monitoring, they ensure infrastructure projects remain financially sound and on schedule.
Overview Of The Financial Specialist Role
Financial Specialists at FHWA oversee and manage federal transportation project finances. They ensure proper fund distribution and usage while maintaining regulatory compliance. Their analysis of financial data guides infrastructure development decisions nationwide.
The position requires expertise in budget creation, cost analysis, and auditing to maintain fiscal accountability. They provide technical guidance to state and local agencies, review financial statements, and resolve discrepancies. Their regulatory knowledge ensures efficient and transparent fund allocation.
Beyond technical abilities, communication skills prove essential. They work alongside engineers, policymakers, and program managers to align funding strategies with project objectives. Regular reports and briefings communicate financial performance and compliance metrics.
Success requires mastery of accounting principles and federal financial systems. Proficiency with tools like Delphi and FMIS (Fiscal Management Information System) enables efficient transaction processing and monitoring. Their work directly influences critical transportation initiative outcomes.
Key Responsibilities
Financial Specialists at FHWA perform essential functions ensuring efficient and transparent federal fund management for transportation projects. Their expertise supports nationwide infrastructure development success.
Budget Oversight And Management
They handle budgets by offering funding guidance, enhancing financial management systems, and tracking project fund allocations.
Their duties include reimbursement claim approval, project agreement review, and oversight of modifications such as advance construction conversions. These efforts ensure financial resources match project goals and regulatory requirements.
Reporting And Documentation
Precise reporting and comprehensive documentation form core responsibilities. They engage in financial evaluations, monitor fund performance, and document final project claims.
They create detailed financial statements, audit reports, and project summaries showing financial health and compliance with federal and local initiatives.
Compliance With Federal Regulations
Maintaining compliance with federal laws and guidelines remains fundamental to their role. They perform financial management reviews for state Departments of Transportation (DOTs), local agencies, and federal entities, confirming regulatory adherence. By resolving audit concerns and addressing inconsistencies, they uphold accountability and build trust in the funding process.
Required Qualifications And Skills
Financial Specialists at the Federal Highway Administration (FHWA) maintain strict standards to manage federal funds for transportation and infrastructure projects. A combination of technical expertise, compliance knowledge, and communication skills is vital for success in this role.
Educational Background
Candidates must have a strong foundation in finance, accounting, or business administration from an accredited college or university to handle FHWA’s complex financial duties. Students graduating within six months can apply by submitting transcripts before starting.
Ongoing education helps specialists stay updated with financial regulations. Additional degrees or certifications in public administration or government finance provide valuable specialized knowledge.
Relevant Experience
Both professional and volunteer work shape a candidate’s preparedness. Skills developed through financial management, auditing, or federal policy roles ensure competence in federal financial operations. Programs like AmeriCorps or Peace Corps build essential skills in compliance and collaboration.
Candidates should show practical application of finance knowledge. Previous work in document review, internal controls, or regulatory compliance aligns well with FHWA requirements.
Technical Knowledge and Skills
Financial Specialists must demonstrate technical expertise and act as reliable advisors on FHWA financial matters. Knowledge of federal systems like FMIS or Delphi ensures proper fund management and reporting.
The role requires a thorough understanding of federal laws and directives, especially those affecting the Federal Aid Highway Program.
Communication abilities are fundamental. Regular interaction with state DOT staff, policy advisors, and engineers demands clear expression. Creating detailed reports and giving authoritative presentations emphasizes the need for effective communication skills.
Financial Management Competency
These specialists focus on building strong internal controls for efficient operations. They monitor compliance with federal laws, enhance financial reporting, and strengthen budget decisions. Key responsibilities include system reviews, audit execution, and resolving procedural issues.
The position combines compliance adherence with process improvement. Specialists regularly update financial procedures to maximize infrastructure project funding, balancing fiscal responsibility with project effectiveness.
Employment Conditions
1. Selective Service
Males with birth dates after December 31, 1959, must sign up with the Selective Service. This requirement by federal law ensures you meet legal obligations before being considered for employment.
2. Background Investigation
You must undergo a comprehensive background/security investigation. You need to complete all initial requirements and submit the required documents before starting your employment process.
3. Probationary Period
You will serve a one-year probationary period unless you have already completed this requirement. Your performance and job suitability will be evaluated during this timeframe.
4. Relocation and Travel
Your role may require business-related travel using a government contractor-issued travel card. The approval of Permanent Change of Station (PCS), Relocation, or Recruitment Incentives depends on your specific position and selection process. If these benefits are authorized, you might need to sign a service agreement to receive relocation benefits.
Training And Development Opportunities
Financial Specialists at the Federal Highway Administration (FHWA) benefit from comprehensive training and professional development programs that enhance their capabilities and support career growth. These programs strengthen both technical skills and advancement opportunities.
Professional Development Program (PDP)
The PDP delivers a structured 24-month entry-level program designed for Financial Specialist candidates. Through hands-on training, participants work directly with experienced PDP coaches, gaining practical knowledge and expertise. This mentorship approach strengthens problem-solving capabilities and develops core financial competencies.
The program features rotational assignments across various financial operations and project management areas. These diverse roles allow participants to expand their skill set while implementing theoretical concepts in real situations. Each rotation builds both practical abilities and professional flexibility.
Every participant works with an Individual Development Plan (IDP), which maps specific learning objectives and performance expectations. This personalized plan aligns organizational needs with professional growth goals, creating a clear path toward career advancement.
Salary And Compensation Structure
Financial Specialists at FHWA earn between $49,025 and $140,713 annually, based on grade levels and duty stations. Compensation packages include locality pay adjustments that vary according to work location. This structure maintains consistency with federal guidelines while considering regional cost factors.
The position spans multiple grade levels: GS-07, GS-09, GS-11, and GS-12. Each grade reflects specific qualification requirements and job responsibilities that influence earning potential.
Entry-level positions at GS-07 offer salaries from $49,025 to $91,582 per year. Higher grades—GS-09, GS-11, and GS-12—fall within the broader range of $49,025 to $140,713. GS-12 positions require a minimum of one year’s experience at the GS-11 level.
Regional variations in locality pay to ensure fair compensation relative to local living expenses. This system promotes equitable pay across all duty stations, maintaining competitive salaries nationwide.
Conclusion
Financial Specialists serve as key contributors to the Federal Highway Administration’s mission, ensuring proper management of transportation projects.
Their expertise guides federal fund allocation, regulatory compliance, and infrastructure development progress. By combining technical knowledge with collaborative skills, these professionals drive successful transportation initiatives.
The role provides both attractive compensation and structured development opportunities through comprehensive training programs.
As the financial landscape evolves, these specialists continue to play vital roles in building and maintaining America’s transportation infrastructure.
Go back to WVDOT.
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