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Financial Aid Compliance Specialist

10 Nov 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. This individual will assist the Associate Director when making recommendations regarding the improvement of our processes based on regulatory changes and best practices.

  • Complete Return of Title IV (R2T4) calculations per federal regulations to ensure 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 eligibility.
  • 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.
  • Serve as a member of the Audit and Compliance Workgroup. Give updates on QA metrics and Audits; make recommendations for improvement.
  • Annual setup for R2T4 and COD

This position requires:

  • Bachelor's degree
  • At least two years of experience within a financial aid office performing various duties
  • Strong written and verbal communication skills and attention to detail is required

Preferred Qualifications:

ยท       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.

Salary around $50,000, commensurate with qualifications and experience.

A hybrid telework schedule may be available for Maryland residents. 

Open Until Filled

UMBC is an Affirmative Action/Equal Opportunity Employer. Applications from women, minority group members, veterans and individuals with disabilities are encouraged to apply.


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