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Compliance Specialist, Office of Financial Aid and Scholarships

5 Apr 2022 9:54 AM | Shannon Millard

Reporting to the Associate Director of Financial Aid (Operations) and working closely with the management staff, the incumbent will be the main point of contact for other compliance and audit staff members; be responsible for utilizing their knowledge of federal and state regulations and institutional policies and procedures to ensure accurate awarding of federal, state and institutional funds; acting as a resource regarding changes to federal, state, institutional and departmental policies; and contributing to the effectiveness of information disseminated to staff and students. The coordination of these tasks is supported through a variety of duties and include: performing quality assurance reviews; compiling, editing and maintaining the department policy and procedures manual; monthly reconciliation of Pell and Direct Loan accounts; completing Return of Title IV (R2T4) calculations; reviewing federal registers, announcements and other financial aid resources; ensuring that the OFaS business Continuity Dashboard is current; serving on Compliance and Audit workgroup and serving as backup for duties assigned to the unit. This individual will assist the Associate Director when making recommendations regarding the improvement of our processes based on regulatory changes and best practices and perform other duties as assigned. Specific duties include:

  • ·       Complete Return of Title IV (R2T4) calculations per federal regulations to encure the institution   remains in compliance.
  • ·       Reconciliation of the direct Loan and Pell accounts to ensure the institution remains in compliance with federal standards. Resolve issues with loan and pell transmissions. Work with office of Contracts and Grants Accounting (OCGA) for reconciliation between COD,PS and G5.
  • Performing quality assurance reviews of student fin aid and scholarship files to ensure that the correct procedures were followed when the file was processed. Utilizing knowledge of federal, state and institutional regulations/policies and procedures to make decisions that could affect a student's financial aid eligibiity.
  • Serve as unit lead and main point of contact for other compliance and audit staff.
  • Compiling, editing and maintaining the department's policy and procedures (P&P) manual and business process guides. Regularly monitor the department's Business Continuity Dashboard to ensure that it contains current information. Update P&P manual in NASFAA with any edits.
  • Review federal registers, Dear Colleague Letters, announcements and other financial aid resources for policy changes and updates. Disseminate information to staff; make recommendations that could enhance our processing procedures.
  • Create Docusign forms as needed for the department
  • Annual setup for R2T4 and COD

This position requires:

·       Bachelor’s Degree

Preferred Qualilfications:

·       At least one year experience within a financial aid office performing various duties, strong written and verbal communication skills and attention to detail is required. In addition, the successful candidate will have the ability to multi-task in a fast paced environment and be able to evaluate and assess areas of conflict and coordinate resolution. Computer proficiency, experience performing R2T4 calculations and knowledge of the Pell reconciliation process is preferred.

Starting salary is commensurate with qualifications and experience. This is a full time position and includes full university benefits.

For best consideration, submit a cover letter, resume and contact information for three professional references by April 29, 2022 (applications will be accepted until the position is filled).

UMBC is EOE/AA.

http://listings.umbc.edu/cw/en-us/job/493665?lApplicationSubSourceID=11275

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