Financial Specialist - Hybrid

University of Illinois System; Urbana (IL); Sur place; USD 60 000 - 90 000; Plein temps

Résumé du poste

University of Illinois System in Urbana, IL is seeking a Financial Operations professional to coordinate federal reporting and annual operating reports, analyze loan portfolios, and ensure accurate Banner-based accounting for multiple campuses.

The role focuses on reconciliations, fee processing, and monthly fund projections to support financial decision-making and closeout activities. Strong attention to detail and cross-campus collaboration are essential.

Responsabilités

• Coordinate and prepare required annual federal reports, including the Perkins FISAP for the U.S. Department of Education and Annual Operating Reports for HRSA.
• Prepare and analyze annual portfolio reports summarizing loan balances, collections, and default rates for each campus.
• Coordinate and prepare quarterly financial reports on the student loan portfolio for University Accounting and Financial Reporting (UAFR).
• Reconcile refunds issued from student and general accounts receivable each month for all three campuses, ensuring refunds match the University’s records.
• Manage and support daily accounts receivable data processing activities within Banner and related integrated systems, including feeder data from multiple payment portals.
• Coordinate and administer returned check processes (NSF) for all System Office locations and document resolutions.
• Verify at the start of each month that loan disbursements and borrower payments transfer accurately between Banner and the loan servicer, researching discrepancies.
• Manage and reconcile the three holding accounts through which loan payments and adjustments pass before posting to funds.
• Coordinate monthly reconciliations of each federal and University-funded loan fund, verifying balances and correcting discrepancies.
• Analyze and project available funds monthly for each loan fund to support annual student loan funding decisions.
• Support closeout of the federal Perkins Loan program, including cancellations and transferring remaining loans and cash to the U.S. Department of Education.
• Calculate, review, and record annual financial allowances, including administrative allowances and doubtful accounts, with proper documentation.

Outils

Banner

Description du poste

1. Coordinate and prepare required annual federal reports, including the Perkins FISAP for the U.S. Department of Education and Annual Operating Reports for the Health Resources and Services Administration (HRSA). Also prepare and analyze annual portfolio reports summarizing loan balances, collections, and default rates for each campus. 15%
2. Coordinate and prepare quarterly financial reports on the student loan portfolio for University Accounting and Financial Reporting (UAFR), ensuring accurate financial data for use in University-level financial reporting. 15%
3. Reconcile refunds issued from student and general (non-student) accounts receivable each month for all three campuses, ensuring refunds in the billing system match the University’s accounting records. 10%
4. Manage and support daily accounts receivable data processing activities within Banner and related integrated systems, including coordinating the preparation, review, and submission of feeder data received from multiple University payment portals. 10%
5. Coordinate and administer returned check processes, including the organization, investigation, processing, communication, and documentation of all NSF/returned checks for all System Office locations, ensuring timely resolution of discrepancies. 10%
6. Verify at the start of each month that loan disbursements and borrower payments transfer accurately between the University’s financial system (Banner) and its third-party loan servicer. Independently research discrepancies and coordinate corrections of missing or inaccurate transactions. 5%
7. Manage and reconcile the three holding (clearing) accounts through which loan payments and account adjustments pass before posting to individual loan funds, monitoring account activity and ensuring all transactions clear accurately and promptly. 5%
8. Coordinate monthly reconciliations of each federal and University-funded loan fund, verifying that balances agree between Banner and the loan servicer’s records, investigating discrepancies, and implementing appropriate corrections. 5%
9. Analyze and project available funds monthly for each loan fund and provide financial projections to Financial Aid to support decisions regarding annual student loan funding availability. 5%
10. Support and coordinate financial activities associated with the closeout of the federal Perkins Loan program, including verifying that loan cancellations post correctly and assisting with the transfer of remaining loans and cash balances to the U.S. Department of Education. 5%
11. Calculate, review, and record annual financial allowances, including the administrative allowance and the allowance for doubtful (uncollectible) accounts, ensuring accurate financial reporting and supporting documentation. 5%
12. Coordinate federal funding activities when a federal health professions loan fund experiences low cash balances, including receiving and reviewing the Notice of Award (NOA) from the Health Resources and Services Administration (HRSA) and coordinating the drawdown of awarded federal funds into the appropriate loan fund. 5%
13. Develop, generate, and maintain Banner data downloads, reports, and supporting datasets used by Business Operations for financial reporting, reconciliation, analysis, and operational decision-making. 5%