Financial Analyst

Commonwealth of Massachusetts; Boston (MA); On-site; USD 80,000 - 110,000; Full time

Job summary

The Commonwealth of Massachusetts, through the Executive Office of Energy and Environmental Affairs (EEA), seeks a Financial Analyst to manage federal grants, capital and trust portfolios, providing accurate financial information to support fiscal planning and program decisions.

The role coordinates grant administration, reporting, and compliance, maintains dashboards and reports, and collaborates with Budget Office, CFO, and agency staff to monitor spending, revenues, and balances.

Job description

An Official website of the Commonwealth of Massachusetts

Job Description

Description

Who We Are:

The Executive Office of Energy and Environmental Affairs (EEA) seeks to protect, preserve, and enhance Massachusetts’ environmental resources and create a clean energy future for all residents. Through the stewardship of open spaces, the protection of environmental resources, and the advancement of clean energy, EEA works tirelessly to make Massachusetts a wonderful place to live, work, and raise a family. Our commitment to environmental justice ensures that every resident, regardless of background or location, can live in a safe, clean environment and shares equally in the benefits of the clean energy transition.

The Massachusetts Department of Environmental Protection (MassDEP) is the state agency responsible for ensuring clean air, land, and water. Our work impacts every aspect of people's lives and is critical to the health and wellbeing of our residents and visitors. MassDEP is the lead agency for safe management of toxic and hazardous materials, promotion of waste reduction and recycling, preservation of the state's wetlands and coastal resources, air quality monitoring and pollution reduction, and so much more.

Who We Are as an Employer:

At EEA, we create meaningful, inclusive opportunities that empower our employees to make a real difference in shaping the environmental future of Massachusetts. We foster a workplace culture where diversity is valued, innovation is encouraged, and collaboration thrives. Our employees play a vital role in advancing sustainability, environmental justice, and clean energy solutions, ensuring a positive and lasting impact on Massachusetts and its residents.

Description:

The Financial Analyst is responsible for the financial management, analysis, forecasting, reconciliation, monitoring, and reporting of the Department’s Federal Grants, Capital, and Trust portfolios. The position serves as a key financial resource to the Budget Director, CFO, senior management, bureaus, and program staff by providing timely, accurate, and actionable financial information to support fiscal planning, resource allocation, compliance, and programmatic decision-making.

The position coordinates the financial administration of federal awards; develops and maintains detailed financial reports, forecasts, and spending plans; monitors budgets, awards, authorizations, revenues, encumbrances, expenditures, transfers, and available balances; identifies financial risks, funding opportunities, and resources requiring management action; and supports Department-wide fiscal planning and reporting.

The Financial Analyst also maintains responsibility for assigned federal grant compliance and reporting, capital budget management, trust financial management, contract support, FEMA Public Assistance coordination, and related Budget Office initiatives.

Duties include, but are not limited to, the following:

Federal Grant Award Administration and Compliance

Coordinate Department activities associated with the establishment, amendment, administration, and closeout of federal grant awards.

Review, process, track, and coordinate federal grant applications, amendments, award documents, and related financial materials.

Ensure required grant documentation is submitted to the appropriate federal funding agencies accurately and within established deadlines.

Coordinate required notifications and submissions to the Executive Office for Administration and Finance (ANF), Office of the Comptroller (CTR), and other state oversight entities.

Maintain complete and organized federal grant files and ensure that required financial and programmatic records are available for audit, review, reporting, and management purposes.

Monitor compliance with applicable federal award requirements, grant conditions, reporting obligations, and Department procedures.

Work collaboratively with bureau grant managers, program staff, Budget Office staff, BAS, senior management, and federal agencies to resolve grant administration, financial, and compliance issues.

Identify grant-related issues requiring escalation and promptly communicate material risks to the Budget Director and CFO.

Federal Grant Financial Planning, Monitoring, and Forecasting

Maintain detailed financial records, expenditure schedules, BCR information, and management reports for Department federal grants.

Develop and coordinate annual and multi-year federal grant spending plans.

Coordinate projected federal grant spending for House 1 and other Department budget formulation and planning activities.

Coordinate payroll and other chargeback encumbrance amounts with bureau grant managers and Budget Office staff responsible for encumbrance management.

Monitor actual expenditures, encumbrances, revenues, and remaining award authority against approved spending plans.

Develop financial projections through the applicable grant expiration, period of performance, or closeout date.

Identify under-spending, over-spending, projected surpluses, projected shortfalls, uncommitted resources, expiring balances, and other conditions requiring management action.

Analyze expenditure trends and recommend corrective actions where financial performance differs materially from approved plans.

Work with BAS and bureau staff to reconcile grant activity and resolve financial discrepancies throughout the fiscal year.

Financial Reporting and Analysis – Federal Grants, Capital, and Trusts

Develop and maintain standardized monthly, quarterly, annual, and ad hoc financial reports for Federal Grants, Capital, and Trust accounts.

Analyze budgets, awards, authorizations, revenues, transfers, encumbrances, expenditures, commitments, available balances, and spending trends.

Prepare budget-to-actual, spending-plan, and forecast variance analyses.

Develop financial projections through the applicable fiscal year, grant period, or project completion date.

Maintain detailed account-, program-, grant-, project-, and funding-source-level financial schedules.

Reconcile management reporting to Mosaic and other applicable fiscal, accounting, and operational records.

Investigate and resolve discrepancies between financial reporting systems, management schedules, and program records.

Prepare executive-level financial summaries highlighting material trends, risks, exceptions, available resources, and recommended follow-up actions.

Develop and maintain dashboards, analytical tools, and standardized reporting templates, including Power BI where appropriate.

Coordinate with PCII analytical support and other Budget Office staff to ensure consistency, accuracy, and reliability of financial reporting.

Capital Budget Management

Maintain comprehensive financial information for Department capital appropriations, authorizations, accounts, projects, and funding sources.

Develop and maintain annual and multi-year capital spending plans and financial projections.

Monitor capital allotments, encumbrances, expenditures, transfers, commitments, and available balances.

Work with bureaus and project managers to validate project status, anticipated expenditures, schedules, and funding needs.

Identify projects with slow spending, funding shortfalls, excess balances, uncommitted resources, delayed activity, or other financial risks.

Analyze opportunities for resource reallocation or reprogramming where appropriate.

Prepare recurring capital budget reports and executive summaries for the Budget Director, CFO, senior management, EEA, ANF, and other stakeholders.

Support capital project closeout, year-end financial review, and reconciliation activities.

Assist in the development of capital funding requests and other capital planning activities as assigned.

Trust Financial Management

Maintain detailed financial schedules for Department trust accounts.

Monitor and reconcile trust revenues, expenditures, encumbrances, transfers, interest earnings, and available balances.

Develop current and projected available-balance calculations and year-end forecasts.

Work with program and fiscal staff to validate anticipated receipts, expenditures, obligations, and spending plans.

Monitor trust activity for significant variances, inactive resources, insufficient balances