Grants Accounting Specialist

Location and Reporting:

This is a hybrid role reporting to AAF's Wall Street office and will be required to be in the office two days a week. 

About Us:

Founded in 1989, the Asian American Federation (AAF) is one of the strongest leadership voices advocating for better policies, services, and funding that lead to more justice and opportunity for Asian immigrants, one of New York City's poorest and underserved communities. As an umbrella leadership organization, we represent 70 community-based organizations serving 1.5 million Asian New Yorkers, the fastest-growing population in the city.

About the Opportunity:

Reporting to AAF’s Controller, the Grants Accounting Specialist is responsible for managing the clerical financial aspects of AAF’s government and private grants, including budget entry, reporting, vouchering, and compliance with grant terms and conditions. The Specialist will also handle the reallocation of costs as needed to ensure proper grant fund utilization in addition to yearly auditing of our subgrantees From time to time the Specialist may also serve as a support in processing accounts payable, receivables, and financial reporting tasks.

The ideal candidate for this role is a humble, detail-oriented individual with specific expertise in the mechanics and processes associated with state, federal and local grant reporting activities.  This individual will enjoy the day-to-day details and consistency provided by intricate, fast-paced, and process-oriented work. While not an accountant, the candidate will have an understanding of basic grant budget management to include revenue allocation like credits and debits, journal entries, accruals, direct and indirect costs, fringe, etc. In addition, s/he/they will have a detailed understanding of state and city grants in New York City and proficiency in using government websites for grant management. 

What You’ll Do:

Working closely with the Grants & Contracts team and various program teams, the Specialist will be responsible for, but not exclusive to: 

Grant Budget Management

• Collaborate with program managers, finance team, and other departments on grant management.
• Develop, maintain, and monitor grant budgets, working with subject matter experts on various program teams to ensure alignment with programmatic needs.
• Support  program managers to prepare grant budgets for proposals and track variances.
• Assist in budget modifications and reallocations to ensure full utilization of grant funds.

Grant Reporting

• Prepare and submit accurate financial reports to grantors, ensuring compliance.
• Maintain detailed records of all grant-related transactions for audit purposes.
• Coordinate with program staff to gather necessary quantitative data for reporting.

Grant Vouchering

• Process and submit reimbursement requests and vouchers for state and city grants.
• Monitor submitted vouchers from subgrantees and follow up on payment processing.
• Reconcile grant expenditures with reimbursement receipts and address discrepancies with insights gathered from the Grants & Contracts team and various program teams.

Grant Accounting

• Recognize indirect expenses, revenue, and receivables on a monthly basis.
• Update financial schedules with new grant activity, such as receivables and reimbursements.
• Ensure accurate categorization of revenue (unrestricted, temporarily restricted, and permanently restricted).
• Release restricted revenue in line with grant terms when restrictions are lifted.
• Perform reclassifications (reclasses) as necessary to align expenses and revenue with grant requirements.
• Track and monitor grant expenditures to ensure they are within approved budgets.

Compliance and Documentation

• Ensure compliance with federal, state, and local grant regulations.
• Keep accurate records of all grant-related documentation.
• Stay informed on updates to grant compliance guidelines and government websites. 
• Provide training and support on grant compliance, budgeting, and reporting.

Cost Reallocation and Adjustment

• Review and reallocate costs to ensure compliance with grant guidelines.
• Prepare journal entries for cost reallocations.
• Assist in the year-end close process by reconciling grant accounts.

Why Work with Us:

Requirements:

• Bachelor’s degree, in Accounting, Finance or a related field. 
• Minimum of 3 years of related experience, preferably minimum one year in general accounting and 2 years  in grant accounting or similar role, preferably in a nonprofit or governmental environment.
• Experience using government grant management websites, such as PASSPort and Grants Gateway.
• Proficiency in accounting software (e.g., QuickBooks) and advanced Excel skills.
• All new hires must be vaccinated and must stay up-to-date with COVID-19 vaccines unless they have been granted a reasonable accommodation for religion or disability. If you are offered a position with AAF, this requirement must be met by your date of hire, unless a reasonable accommodation for exemption is received and approved by AAF.

Compensation & Benefits: 

Salary range is from $67,000 to $69,000 per year, commensurate with experience. Comprehensive benefits package includes generous paid time off, health, dental, vision, life, and disability insurance, as well as a 403(b) plan.

To uphold organizational parity and pay equity, AAF will use a non-negotiable salary structure that takes into consideration the entire breadth of a candidate’s experience, employment, and education to arrive at their base salary.

The Asian American Federation is an Equal Opportunity Employer.