The Financial Aid Operations Compliance staff is responsible for monitoring Federal and State regulations pertaining to financial aid programs and recommending changes/updates to internal policies and procedures accordingly. Under the limited direction of the Compliance Manager, the Compliance Coordinator will support the operational compliance component of the office, ensuring quality and regulatory control. The Compliance Coordinator will maintain current and thorough knowledge of all Title IV... more details
Pay Grade: 29E
Location: Newark/Hybrid
CONTEXT OF THE JOB:
The Financial Aid Operations Compliance staff is responsible for monitoring Federal and State regulations pertaining to financial aid programs and recommending changes/updates to internal policies and procedures accordingly. Under the limited direction of the Compliance Manager, the Compliance Coordinator will support the operational compliance component of the office, ensuring quality and regulatory control. The Compliance Coordinator will maintain current and thorough knowledge of all Title IV and state regulations and institutional policies. The Compliance Coordinator will provide regulatory oversight to the other units within SFS Billing, Operations, and Service through reconciliations, reports, quality control and training programs. This position will also monitor borrower default rates and develop financial outreach programs. The Compliance Coordinator will ensure the position responsibilities and procedures comply with University, State, and federal policy and regulations, and adhere to effective, efficient processing that complies with the Department of Education's standards while providing support for decision making and policy recommendations.
MAJOR RESPONSIBILITIES:
Assist the Compliance Manager with ensuring quality and regulatory compliance control of the administration of federal, State, and institutional aid.
Primary responsibility for R2T4 processing for all official and unofficial withdrawn students.
Assist in the management of the day-to-day compliance operations within Student Financial Services. Includes but is not limited to managing State aid programs, reconciliation, and endowed scholarship management.
Implement strategy, to ensure controls over operations, including key federal programs (Direct Loan, PELL, Work-Study) scholarships/endowments, Satisfactory Academic Progress Policy, NSLDS Review, PELL Limits, unusual enrollment, verification audits and cash reconciliations.
Maintain and participate in office-wide training programs to ensure high levels of customer service that maintain federal compliance and professional judgment standards.
Assist with the monitoring of federal default rates, including development of programming for enhanced student borrower outreach/financial planning.
Support the Compliance Manager in any audit requests and federal reporting requirements.
Bachelor's degree in a job-related discipline with at least two years’ of financial aid experience preferred, or equivalent combination of education and experience.
Ability to interpret complex financial aid regulations; knowledge/experience working in financial aid compliance including Title IV and other federal financial aid programs preferred.
Strategic planning skills in order to develop and implement new processes to continually ensure department compliance with University, State, and federal policies and procedures across all units.
Skill performing statistical analysis and reconciliations to develop controls in federal, State and institutional funds and processes.
Ability to assist in the development of new programs; identifies, interprets, and articulates areas of concern.
Effective oral and written communication skills.
Experience developing and conducting training for end users.
Analytical, detail oriented and quality conscious.
Skill effectively managing time, organizing, and prioritizing.
Analytical skills and proficiency with report writing, data analysis, PeopleSoft querying, and other reporting tools, Excel and Access preferred.
Prefer knowledge of regulations and compliance issues which affect the overall department, including but not limited to, State and Federal laws governing student financial aid, billing and collection services required.
Demonstrated understanding and consideration of the differing needs and concerns of individuals with varying identities, cultures, and backgrounds.
Committed to fostering a workplace culture of belonging, where diversity is celebrated, and equity is a core value.
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