Under the general direction and supervision of the Associate Administrator for Ship Financial Approvals and Cargo Preference, the Director, Office of Financial and Rate Approvals shall:

a. Develop policies, methodologies and regulations relating to the fair and reasonable rate requirements of Section 901(b)(1) of the Merchant Marine Act 1936, as amended (the Act) and 46 CFR Part 382.

c. Determine fair and reasonable guideline rates for the carriage of preference cargoes on U.S.-flag vessels.

d. In accordance with 46 CFR Part 298, analyze and evaluate the financial capabilities of applicants for Title XI financial assistance, Ship Manager contractors and General Agency Agreements obligation to ensure contract compliance.

e. Develop and maintain an information system containing financial and operating data on companies receiving government financial assistance or ship financing guarantees.

f. In accordance with 46 CFR Part 232, analyze financial statements and other data submitted by contractors and applicants for maritime aids to determine and evaluate their financial qualifications and limitations.

g. In accordance with 46 CFR Part 252 and 282, formulate and recommend financial policies, criteria and regulations with respect to external financial, accounting, and audit affairs, and provide guidance to Region Finance Offices on pre-award surveys and financial aspects of contract administration.

 h. Provide the Office of Inspector General with external audit requirements, provide financial management services, advice, reports and recommendations in support of financial aspects of administration programs, and recommend action on gifts and bequests of cash negotiable instruments other than for the U.S. Merchant Marine Academy.

i. Review contractor’s audit appeals and make recommendations for action by the authorized official.

j. Establish and maintain financial reporting requirements records for nonappropriated funds, subsidized operators, agents, charters, and other contractors, maintain surveillance of construction reserve funds, interpret financial transactions, and determine financial acceptability of personal sureties, trustees, and depositories.

k. Determine eligibility and compliance of foreign and domestic insurance companies to underwrite risks on U.S. hulls under 46 CFR Part 249.

l. In accordance with 46 CFR Parts 252 and 282, calculate operating-differential subsidy rates for subsidizable items of expense covered by subsidy contracts and prepare recommendations to the appropriate MARAD authority.