| Hiring Salary Range: $50,000-$55,000 DOQ The Student Services Professional 2 â“ Student Financial Services is responsible for managing and reconciling Federal and University financial aid loan funds and reconciling balance sheet accounts for the Office of Student Finance (OSF). The position is also responsible for quarterly and year end reporting. Academic Support Resources supports hybrid and flexible working arrangements. Work arrangements are determined in coordination with supervisors depending on the nature of the unit and position. The arrangement for this position will be determined upon hire between employee and supervisor. 40% Collectible Loans Reconciliation - Reconcile SAL (Stand A Loan) management system from vendor ECSI to the Universityâ™s Oracle/Peoplesoft system accurately and timely on a monthly basis for Federal Perkins Loan, Federal Health Profession Loans and University of Minnesota Trust Fund Loans.
- Ensure that receipts, refunds, or NSF posted in SAL are booked to the Cash clearing account in the Universityâ™s Oracle/Peoplesoft financial system (EFS) and vice versa.
- Ensure accuracy of loan disbursements, principal and interest payments, account write-offs, and general collection activity in both SAL and Universityâ™s Oracle/PeopleSoft system.
- Work with Student Account Assistance (SAA) staff to resolve and/or correct variances.
- Work with ECSI to resolve problems with accounting feed.
- Update procedures as necessary.
15% Budgeting and Annual HRSA reporting15% Budgeting and Annual HRSA Reporting - Project budgets, create account set-ups and monitor account activity for Federal Health Profession Loans, Private/Outside Loans and University of Minnesota Trust Fund Loans.
- Work with Accounting Services or Sponsored Financial Reporting staff to ensure proper funding draws/returns are made and cash flows are accurate.
- Assist OSF staff determine and award available funds.
- Process quarterly and fiscal year end management reports for Health Profession Student Loans (including Nurse Faculty loans) and Annual Performance Report (APR) formerly AOR.
- Update procedures as necessary.
15% Federal Direct Loan Maintenance - Create account set-ups, monitor account activity, and reconcile Federal Direct Loans (Subsidized, Unsubsidized, Parent and Grad Plus) utilizing data in Oracle/Peoplesoft Campus Solutions, Data Warehouse via Oracle SQL Developer, and Oracle/Peoplesoft EFS (General Ledger).
- Work with Accounting Services staff to ensure proper funding draws/returns are made and cash flows are accurate.
- Identify errors and work with departmental staff to resolve/correct.
- Process periodic management reports.
- Update procedures as necessary.
15% Outside/Private Loan Maintenance - Create account set-ups, monitor account activity and reconcile Outside/Private Loans utilizing data in Oracle/Peoplesoft Campus Solutions, Data Warehouse via Oracle SQL Developer, and Oracle/Peoplesoft EFS (General Ledger).
- Return funds to donors as necessary.
- Identify errors and work with departmental staff to resolve/correct.
- Update procedures as necessary.
10% Miscellaneous Loan Funds Receipt Accounting - Ensure revenue recapture and loan consolidation collection EFTs for student loans/accounts receivable are properly identified and booked to the appropriate chart strings in the General Ledger.
- Create bills to transfer student loan funds from the University of Minnesota Foundation (UMF) office.
- Prepare/update budget chartstring for uploading to the General Ledger.
- Review Memorandum of Agreement (MOA) to set up new loan funds as needed from the UMF office.
5% Other Duties as Assigned - Participate in meetings, training sessions, and special projects as needed to contribute to the development, maintenance, and improvement of office procedures and function.
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