Financial Aid Operations Specialist

Company: Virginia Commonwealth University
Location: Richmond
Posted on: November 20, 2023

Job Description:

Position Summary:

The Office of Financial Aid and Scholarships in the Division of Strategic Enrollment Management and Student Success is recruiting for an Operations Specialist to support student enrollment, retention, and success at VCU. Reporting to the Assistant Director of Operations, the Operations Specialist performs activities related to the effective operations of VCU financial aid programs.

Core Responsibilities:

Financial Aid Operations - Award and Risk Management (65%):

• Complete verification review and processing steps, complete professional judgment or dependency override review and related steps , adjust awards based on changes in EFC.
• Troubleshoots inquiries with third-party verification servicer.
• Responds to counselor requests for pending items, award status, suspended ISIRs, or other unmatched records.
• Completes related reports on a daily, weekly, or as-needed basis.
• Keeps financial management system updated with accurate document requirements on RRAAREQ to reflect current status after processing forms.
• Communicates with students via email regarding document deficiency or loan status.
• Reviews applications and request forms for completeness and accuracy.
• Tracks incomplete forms and communicates with students and staff to resolve issues.
• Assists with awarding of financial aid packages for the fall, spring, and summer semesters.
• Originates federal Direct Loans, including PLUS loans.
• Certifies private alternative loans and communicates with lenders to resolve issues.
• Corresponds with internal staff and external stakeholders and lenders in a concise and professional manner.
• Handles sensitive and confidential information with discretion.
• Monitors accounts for over-awards or overlapping loan periods and completes related outreach.
• Identifies students who can be offered a prorated loan for final term of study.
• Ensures loans are correctly posted under the correct SAY code, BBAY code, budget group, and packaging group.
• Remains current on collaborative dashboards for PLUS loan or private loans and is actively transparent with updating the account with a comment.
• Observes all financial aid policies, procedures, best practices, and internal controls (ARMICS).
• Collaborates with spot-checking and testing in Banner during new year setup. Culture of Care and Collaboration (10%):
  • Listens to and anticipates staff and student needs.
  • Responds to inquiries from colleagues in an accurate and timely manner.
  • Maintains a solutions-driven outlook to resolve an inquiry, knowing that it impacts a student's enrollment, retention, and success.
  • Liaisons with other departments or areas outside of Student Financial Services as needed to service the financial aid operational needs of the University. WorkFlow Management (15%):
    • Independently plans, organizes, and prioritizes work to meet scheduled deadlines.
    • Informs supervisor when assigned reports are complete.
    • Ensures accuracy and timely processing of all applications and student requests.
    • Manages documents in the ImageNow workflow queue. Other Duties (10%):
      • Serves on department committees (e.g. SAP, Professional Judgment) and workgroups as necessary.
      • Maintains up-to-date knowledge of federal, state, and institutional regulations and policies. Supplements formal office training by seeking information independently.
      • Attends NASFAA, VASFAA, or ED trainings as assigned, in addition to staff trainings.
      • Processes special projects and reports including, but not limited to: Secondary citizenship checks with DHS, Emergency relief fund applications, Study abroad/consortium agreements, Co-op processing, and Computer expense/budget adjustment requests.
      • Provides support in other areas during peak season, such as scholarship processing, application review, or loan processing to meet the needs of the department.
      • Prepares outgoing mailings as required.
      • Other duties as required by Financial Aid and Scholarships leadership. Minimum Hiring Standards:
        • High school degree or GED.
        • Strong organization and time management skills.
        • Displays a strong attention to detail.
        • Experience in a high volume, customer-oriented environment.
        • Self-motivated individual with the ability to excel within a complex, high-volume operation with a high degree of accuracy.
        • Ability to work cooperatively with a wide range of diverse constituents and colleagues.
        • Ability to communicate effectively, in writing and verbally, with constituents of the University.
        • Ability to understand the relationship between the Student Financial Services unit.
        • Demonstrated experience working in and fostering a diverse faculty, staff, and student environment or commitment to do so as a staff member at VCU. Preferred Qualifications:
          • Bachelor's degree in-progress or completed.
          • Experience with higher education financial aid business process and operations.
          • Experience using student information systems such as Banner, CPS, COD, NSLDS, ElmSelect software, and Perceptive Content.
          • Demonstrated experience supporting office projects toward successful and timely resolutions to drive student enrollment, retention, and success.
            Other Position Details: This position is ahybrid position with remote options, up to 40% of the time.
            
            Position Number: 555720
            
            Position Title: Operations Specialist
            
            Department: 1919 Financial Aid
            
            Role Code: 35014 Senior Technician SS 1
            
            Position Type: Non-exempt
            
            Salary: $34,000
            
            ORP Eligible?: No
            
            Open Date: 11/16/23
            
            Close Date: 12/3/23

Keywords: Virginia Commonwealth University, Richmond , Financial Aid Operations Specialist, Accounting, Auditing , Richmond, Virginia