Cost Modeling SME

2ndWave LLC (2ndWave) is seeking a Cost Modeling Subject Matter Expert (SME) to lead the development, modernization, and sustainment of Working Capital Fund (WCF) cost allocation models within a federal financial management environment. The SME designs transparent, auditable financial frameworks that align cost drivers to actual service consumption, leads annual rate-setting development, and conducts scenario and sensitivity analysis. This is a hands-on implementation role: the Government requires operational cost models that are deployed and functioning in production, not advisory studies or conceptual designs.

The ideal candidate brings deep expertise in federal working capital funds and federal cost accounting standards (including SFFAS 4 and SFFAS 10), a strong command of full-cost and cost-recovery/chargeback methodologies, and a demonstrated track record of operationalizing cost models in complex federal environments. As designated Key Personnel, the SME serves as the lead technical voice for the cost modeling effort, including presenting technical approaches and responding to scenario-based questions before Government stakeholders. The role demands rigorous analytical capability, sound financial judgment, disciplined documentation, and the ability to collaborate across financial, technical, and customer-facing teams.

Key Responsibilities

• Lead the design, development, modernization, and sustainment of WCF cost allocation models for both legacy (formerly commodity-based) and programmatic IT shared services, replacing legacy methodologies with scalable, transparent frameworks.

• Develop and document full-cost methodologies consistent with SFFAS 4, including the treatment of software and development costs expensed in the year incurred, while preventing cross-subsidization between customers.

• Lead annual rate-setting development, including methodology, assumptions, and supporting documentation; build rate models that target near-zero retained earnings in a zero-reserve environment requiring full cost recovery within the execution year.

• Design fully burdened cost-allocation logic (e.g., G&A and program/PMO overhead) that isolates project-specific costs while keeping unrelated service rates clean and unaffected.

• Develop scenario and sensitivity analysis tools that update dynamically with variable inputs to support mid-year true-ups, multi-tenant transitions, and leadership decision-making.

• Ensure every model is transparent, traceable, and reproducible from documented inputs through cost drivers, allocation logic, and final billing outputs; opaque or “black box” methodologies are not acceptable.

• Analyze and reconcile cost and consumption data across financial general-ledger systems and IT service-management platforms, resolving discrepancies between operational and financial sources of truth.

• Support audit readiness by maintaining clear assumptions, calculation logic, and complete source-to-billing data lineage.

• Produce methodology and assumptions documentation, monthly cost allocation outputs, and annual rate development models in accordance with the program schedule and applicable quality standards.

• Support budget formulation, justification, and execution activities, and contribute to financial operating-model assessment and process-mapping work.

• Present cost modeling results, rate recommendations, and supporting analysis to leadership, customers, and oversight bodies.

• May mentor junior analysts and support process improvement initiatives.

Required Skills and Qualifications:

• Bachelor’s Degree in Accounting, Finance, Economics, or Data Analytics.

• 8+ years of specialized experience in federal working capital funds, cost accounting standards (SFFAS standards), and building complex cost-recovery or chargeback methodologies.

• Demonstrated, hands-on experience developing, modernizing, deploying, and sustaining cost allocation models in production; advisory, strategic, or conceptual experience alone is not sufficient.

• Working knowledge of SFFAS 4 (managerial/full cost) and SFFAS 10 (internal-use software), and of applicable federal financial management authorities such as the CFO Act, FFMIA, OMB Circulars A-123 and A-11, the Treasury Financial Manual, FASAB standards, and the Technology Business Management (TBM) framework.

• Experience developing annual rate models and scenario/sensitivity analysis, including rate-setting in cost-recovery or revolving fund environments.

• Ability to analyze and reconcile cost and consumption data across financial and operational systems to validate model integrity, completeness, and accuracy.

• Ability to design transparent, auditable, and reproducible models with full source-to-billing data lineage.

• Strong analytical, written, and oral communication skills, including the ability to present technical approaches and respond to scenario-based questions before stakeholders.

• Ability to work independently and collaboratively in a fast-paced environment with shifting priorities.

• Ability to obtain and maintain a federal Public Trust position determination; screening may include an SF-85P and a fingerprint-based background check.

Preferred Skills and Qualifications:

• Advanced degree in a related field, or professional certification such as CPA, CGFM, or CDFM.

• Experience supporting federal shared-service organizations and IT cost recovery.

• Proficiency querying, validating, and reconciling data using SQL.

• Experience with enterprise financial systems, enterprise performance management (EPM) tools, IT service-management platforms (e.g., ServiceNow), and business intelligence tools (e.g., Power BI, Tableau).

• Familiarity with G-Invoicing and federal billing, reimbursement, and advance-drawdown processes.

• Experience supporting audit readiness, internal controls, and reproducible financial documentation.

• Experience presenting cost and rate analyses to senior financial leadership and oversight bodies.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, or national origin.

About 2ndWave LLC:

2ndWave LLC (2ndWave) is a management and technology consulting firm providing a focused set of financial management, program management, and technology solutions to public sector clients. Our certified professionals have extensive experience implementing large, complex public sector programs; helping our clients solve their most pressing financial and business management challenges; and implementing proven leading-edge technology solutions that enable them to operate more efficiently while minimizing risks and costs.