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Compliance Specialist, Student Financial Services

Apply now Job no: 494651
Work type: Staff
Location: Newark
Categories: Student Affairs & Services, Full Time

PAY GRADE:  29E

CONTEXT OF THE JOB:

Under the limited direction of the Director, the Compliance Specialist is responsible for consolidation of compliance with regulations, policy and procedures across the SFS organization. The Compliance Specialist ensures compliance with all governmental and institutional policies related to student financial services. The Compliance Specialist provides essential governmental reporting and supports the integrity of financial aid programs.

 

MAJOR RESPONSIBILITIES:

  • Identify regulatory changes, the impact on the workflow for student awarding and documentation. Update and/or maintain policy and procedure manual and workflow procedures to maintain compliance with federal, state and institutional financial aid requirements.
  • Develop, implement, and maintain an effective compliance program to detect, prevent, and resolve issues that fail to meet federal and state financial aid regulations. Including responsibility for identifying and facilitating proper oversight of the Satisfactory Academic Progress Policy, NSLDS Review, PELL Limits and Unusual Enrollment.
  • Maintain master calendar of all federal, state and institutional process, tasks and reporting and ensure compliance.
  • Monitor federal and state financial aid regulatory environments to include IFAP, NASFAA, News and AskRegs, FSA Manual, Blue Book, ISIR/SAR, Comment Codes, DCR Guide, etc. and communicate and facilitate the necessary proposed changes to leadership.
  • Work with the staff and management to ensure that student information systems (PeopleSoft) is set up properly to administer financial aid according to regulatory requirements. Identify and analyze systematic problems, proposed solutions, and provide training to address issues. Develop procedures and internal controls to ensure that financial aid is properly awarded to the appropriate students.
  • Coordinate activities and teamwork between external areas, such as Finance, Registrars, Admissions, Development and Athletics to ensure compliance with Federal and State and Institutional policies.
  • Coordinate and complete annual internal and required external financial aid audits.
  • Complete Fiscal Operations Report and Application to Participate (FISAP) annually, and Program Participation Agreement when necessary.
  • Ensure that communication in all forms and modalities with students and the campus community meet federal regulations.
  • Supervise Compliance Coordinator who will assist in these duties and ensure accurate completion of that individual's assignments.                                                                           
  • Monitor allocation and distribution of federal and state funds, including managing Federal allowance, and reconciling state spending (eg. FWS, SEOG, SEED, State Funds).
  • Perform other duties as assigned that support the purpose and initiatives of Enrollment Management and the University.

 

QUALIFICATIONS:

  • Bachelor's degree in a job-related discipline and three years of experience in a financial aid compliance role.
  • Ability to interpret complex financial aid regulations practices, and procedures pertaining to student financial aid, thorough knowledge of Title IV and other financial aid programs.
  • Knowledge of word processing and spreadsheet applications. Preferred skill in performing data analysis to monitor and budget Federal, State and Institutional funds.
  • Strategic planning skills in order to develop and implement new processes to continually ensure department compliance with University, state, and federal policies and procedures.
  • Experience with student information systems, PeopleSoft preferred
  • Experience working in a University environment.
  • Experience with federal reporting requirements.
  • Experience handling and responding to audits.
  • Skill at developing recommendations for policy and procedures to align unit objectives.  Analytical skills and proficiency with report writing, data analysis, PeopleSoft querying, and other reporting tools, Excel, Access, and Cognos preferred.
  • Ability to multi-task and work cooperatively with others.
  • Strong verbal and written communication skills.
 

 

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