The Financial Aid Compliance Auditor will perform various tasks to ensure federal program compliance with respect to awards, disbursements and reconciliation. The compliance auditor’s primary responsibilities are:
Reviewing all financial aid files to determine compliance to federal regulations prior to disbursement, evaluate errors and discrepancies within all programs managed by the office of Student Financial services - including Federal grants and loans, institutional grants and private loans.
Assisting with identification of training opportunities for FA staff based upon trends identified in data submission
Maintaining institutions knowledge of FA regulations and assist in establishment of policies to ensure compliance to same.
Review financial aid applications in a centralized setting from all Stratford locations and determine compliance to Federal, State and Institutional regulations and render a decision to authorize payment or identify corrections needed and monitor completion of same.
Maintain the institutions current knowledge of federal Title IV regulations, state rules and institutional policies pertaining to financial aid as it pertains to student eligibility, and the key programs within the Student Financial Services Unit by researching regulations, monitoring changes and recommending changes to internal process to reflect same.
Assist with revising, or creating policies and procedures yearly, based on updated Title IV regulations, and internal policies.
Coordinate operational policies and procedures for internal controls and develop and/or recommend appropriate training to insure improvement in accuracy of staff work and in support of professional development needs of financial aid counselors and staff.
Ensures the Financial Aid office procedures both 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, policy recommendations, and administrative improvements.
Assist with student financial services data management, reporting, and data integrity; reviews output and verification of Free Application for Federal Student Aid (FAFSA) and supporting documentation; trains staff on verification process; interprets data from automated student information system ; assists with alignment of functions to build an integrated service approach supporting recruitment and retention.
Performs verification review of federal financial aid data and supporting documentation; reviews actions performed by staff; researches and troubleshoots staff inquiries; collaborates with internal and external partners and responds to U S Department of Education requests. Reviews, evaluates and audits applications for federal financial aid for quality control purposes. Validates student financial aid application data to calculate award eligibility and certify federal and private student loans.
Advises and counsels University staff for financial aid issues related to policies, procedures, practices, office services, and document completion; processes applications and documents related to aid programs.
Reviews reports and outlines monitoring and verifying integrity and accuracy of data, identifying risks, and recommending solutions for processing and business practice concerns; documents processes; provides training for staff as well as performs other duties as assigned.
Identifies, researches, and facilitates resolution of issues related to financial aid federal grants, SAP, Return of Title IV Funds, C-Flag Conflicts, Verification and student employment..
Provide training to the staff to assure efficient and effective integration of the software into the workflow of the office. Constantly seek ways to improve services through use of technology. Provides and training and support as requested in all areas relating to Tile IV awarding and disbursement. Monitor the work of others and assist with training teams on file review, awarding and certifying federal loans.
Participate in software integration meetings with staff from other university offices including admissions, registrar, and the business office. Integrate testing plans with these and other offices.
Ensures ethical and accurate documentation and recordkeeping which meets all company and regulatory agency standards that also include an elevated level of issue investigation and resolution with a strong commitment to data integrity
Reviews students' yearly and cumulative aid limits to avoid over-awarding students. Reviews loan limit problems and makes adjustments to current loans as necessary.
Provide direction and guidance on the utilization of existing and deployment of new technologies to achieve optimal quality of service, and leads process improvement initiatives to enhance operational efficiency and effectiveness. Employs project management skills to facilitate operational objectives, and oversees required statistical data and financial reporting activities.
Bachelor's Degree from an accredited institution of higher learning.
Five years recent experience in student financial aid directly related to financial aid counseling, eligibility determination, need analysis, verification, and packaging required. Experience with personal computers and online data systems required.
Fluency in using standard office software packages. Demonstrated ability to address the essential functions associated with this position including the knowledge and abilities discussed above- including knowledge of COD, FSA, NSLDS, and other FA websites.
Proven ability to manage multiple complex assignments with sensitivity to deadlines, priorities and changing circumstances.
Ability to Interpret and evaluate descriptions and explanations of problems brought forward by individuals or student organizations, analyze and define the problem, draw valid conclusions, and project consequences of various situations.
Ability to initiate and foster communication and teamwork by maintaining a positive, cooperative, productive work atmosphere in and outside SOU with the ability to establish and maintain effective working relationships within a diverse population and with those from various cultural backgrounds.
Demonstrated experience with computerized office systems including but not limited to; Microsoft Office applications such as Word, Excel and PowerPoint.
Demonstrated ability to prioritize and manage multiple administrative tasks with minimal oversight
Must be willing to travel to attend trainings for occasional professional development, conferences, and/or meet with vendors off site.
Must be able to work additional hours and adjust working hours to meet special jobs. May be called back periodically to perform work as needed on an emergency basis.