CFPB - Financial Management Support - MRAS

The Consumer Financial Protection Bureau (CFPB), in collaboration with the General Services Administration (GSA), is conducting market research to identify potential contractors capable of providing comprehensive financial management services. The primary goal of this initiative is to ensure that the CFPB's financial reporting and management operations align with federal requirements and standards. This effort supports the CFPB's mission to maintain transparency, accuracy, and compliance in its financial practices.

The scope of work involves a range of tasks focused on enhancing the CFPB's financial management capabilities. Key responsibilities include analyzing updates to federal financial reporting requirements, such as those issued by the Office of Management and Budget (OMB) and the Federal Accounting Standards Advisory Board (FASAB). Contractors will assess these updates' applicability to CFPB operations, ensuring that all necessary adjustments are made for compliance. Deliverables will include detailed reports outlining analyses and determinations as required.

Additionally, contractors will provide expert advice on developing processes and procedures for implementing new accounting standards. This includes assisting in drafting Accounting Issues Memorandums (AIMs) and white papers that document compliance with federal standards while considering agency-specific complexities. The work also involves compiling, reviewing, verifying, and publishing quarterly and annual financial statements according to Generally Accepted Accounting Principles (GAAP) for federal entities.

Further responsibilities encompass supporting various financial reporting tasks such as preparing submissions for the Governmentwide Treasury Account Symbol Adjusted Trial Balance System (GTAS), reconciling fund balances with Treasury accounts, and analyzing material differences in reports with federal partners. Proficiency in software tools like Word, Excel, and Adobe is essential for producing high-quality documents. The contractor will also assist in ensuring data reliability under acts like the Digital Accountability and Transparency Act (DATA) and Payment Integrity Information Act of 2019 (PIIA). These efforts collectively aim to uphold rigorous standards of accountability within CFPB's financial operations.