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Accounts Receivable and Reconciliation Specialist

Employer
Metropolitan State University of Denver
Location
Colorado, United States
Salary
Salary Not Specified
Posted date
Aug 12, 2021

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Position Type
Administrative, Business & Administrative Affairs, Financial Affairs, Student Affairs, Admissions, Enrollment, Retention & Registrar, Disabled Student Services, Financial Aid, Other Student Affairs
Salary Band
Not specified
Employment Type
Full Time
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Posting Number A01695 Position Title Accounts Receivable and Reconciliation Specialist Position Number E01001 Salary for Announcement
The salary range is $37,400-$56,200 .
The salary of the finalist(s) selected for this role will be set based on a variety of factors, including but not limited to, internal equity, experience, education, specialty and training.
The above salary range represents the University’s good faith and reasonable estimate of the range of possible compensation at the time of posting. MSU Denver offers a full benefits package.

Pay Grade
13 Employee Category Professional staff Department Office of the Bursar EClass Code Full Time Professional Staff Position Summary
Our debt collector specializes in delinquent student accounts. As a debt collector you will help students recover assets as quickly as possible, reducing cash-flow issues and allowing for smooth business operations. This position will focus heavily on two aspects: regular outreach to students with delinquent balances, and regular reconciliation of collection accounts.
Position Overview:
As a debt collector you will perform call campaigns, and use other outreach methods to inform students about upcoming deadlines, request for payments, provide payment options, promote enrollment, and gain understanding about the obstacles students encounter in effort to repay their delinquent accounts. We are looking for someone who is persistent, flexible, and innovative in the face of obstacles and difficult students.
You will also work with multiple third party debt collection agencies and will be responsible for reporting student payments and tax offsets, posting collection payments to our system, reconciling the collection agency accounts, and processing refunds.
Understanding and applying the knowledge about registration, payments, payment deadlines, drop deadlines, tuition and fees structure, financial aid payments and return of funds, College Opportunity Fund ( COF ) Stipend, and collection procedures is essential when assisting students or collection agencies.
IND208 Duties/Responsibilities
30% Call Campaigns and Outreach
Perform personal and impersonal outreach campaigns to reach out to students on a regular basis over the phone, automated call system, texts, and/or emails.
Personal phone call campaigns will include attempts to collect on the full tuition and fee balances, interview students to determine and establish their ability to pay debt, gain understanding about the obstacles to be able to offer practical debt repayment advice, payment options, and alternative funding sources, all within the constraints of University’s deadlines and policies.
We expect a good collector to:
• Encourage students to pay in full as soon as possible.
• Encourage students to sign up for a payment plan when appropriate and encourage students to utilize payment options, such as credit cards or alternative student loans.
• Confirm and/or obtain debtor’s contact information and update it when needed.
• Establish a regular communication and follow up with students on the upcoming deadlines, payment plans, and other important aspects.
• Overcome stall tactics and objections, and suggest various processes available at the University to mitigate or settle debt when appropriate.
• Inform management about effectiveness of various collection strategies and processes. Suggest improvements and/or propose innovations for the existing processes.
• Comply with applicable laws, regulations, university policies and procedures.
Impersonal contacts will include the following responsibilities:
• In a timely manner, schedule automated calls with an effective message that prompts good response rate from students. Update call lists to ensure they include accurate and up-to-date information.
• Schedule text message campaigns with concise, urgent, and effective messages that prompt good student response.
• Send out regular and timely email campaigns to inform students about upcoming deadlines, collection policies, payment plan, and other important information relating to their past due balance.
40% Collection Placement, Reconciliation, Payment Processing, and Refunds
Manage multiple accounts for third party collection agencies and student accounts that have already been sent to collections. Place new accounts with the collection agencies, alternating and rotating the collection agencies as scheduled. Communicate with counterparts at the collection agencies to inform them about payments, refunds, adjustments, cancellations, and or re-establishments. Process any requests and questions received from the collection agencies in a professional and timely manner. Process adjustments, charges, payments, and refunds between the student and collector accounts, ensuring that the amounts on both ends are correct.
We expect a collector to be able to perform the following:
• In coordination with other full-time staff, keep an accurate and updated list of students pending collection. Upload and place large batches of new accounts with collection agency. Ensure accurate list of delinquent accounts and their respective amounts.
• Effectively reconcile the monthly payments that come from various collection agencies.
• Post the payments to students’ accounts in a timely manner.
• Make adjustments on in-house student or financial aid payments and transfer the collection fee over to the collection agency account. Match the percentage of respective collection agency to ensure accurate transactions.
• Request a timely refund for the collections agency and reconcile the refund with the collection agency statement at the end of the billing cycle.
• Keep an accurate and detailed description of different transactions, whether it is a student payment or a refund.
• Reconcile collection agency accounts every semester to make sure that our accounts balance with the third party collection agencies.
15% Office Operations
Support management and full-time staff in providing excellent customer service to students on a daily basis. Answer students’ inquiries regarding billing, tuition cost, balance due, financial holds, inform students about the general policies, deadlines, refunds, and payments. Be able to resolve issues with students and advise or direct them to the appropriate solutions. Answer the general office email when needed and be able to assist students at the front desk, as well as over the phone.
15% College Opportunity Fund Management
Monitoring and reconciling COF reports to identify students who have not applied or authorized COF and determine if there are errors and other issues preventing student from taking advantage of the program. Run COF jobs/reports in Banner. Whenever possible, verify and make corrections to the accounts with errors by comparing the applicant’s information to the College Assist database, as well as the state DMV Colorado database. Working collaboratively with the Office of the Registrar to resolve those issues. Writing and generating correspondence (e-mail and mail) soliciting students to apply or authorize COF . Generating call-lists to contact and educate students on COF . Required Qualifications
1. Bachelor’s Degree.

2. Accounting experience including adjustments, reconciling monthly activity reports using different sub systems.

Preferred Qualifications
1. Experience in an institution of higher education.

2. Experience with Banner system or similar related financial database system.

3. Experience working with collections or accounts receivable.

Work Hours
Monday – Friday 8:00 – 5:00,
Hours may vary during peak periods. Posting date 08/12/2021 Closing date Closing Instructions Open Until Filled To ensure full consideration, applications must be received by 11:59pm (MT) 09/23/2021 Special Instructions to Applicants

IMPORTANT : In order to be considered as an applicant you must apply via the online application system, www.msudenverjobs.com .

References refers to a list of three professional references and their contact information.

Official transcripts will be required of the candidate selected for hire.

Talent Team Representative Araceli Cortez Talent Team Representative E-mail acortez7@msudenver.edu Benefits
MSU Denver is pleased to offer our current and potential employees a wide array of benefit options. To learn more, please visit the following link:

Employee Benefits Offerings

Diversity Statement
Metropolitan State University of Denver is a unique, access-oriented campus community that values diversity, equity, and inclusion in all its forms. Our student population consists of nearly 50% first generation students and over 45% students of color. We are a designated Hispanic Serving Institution located in downtown Denver.

We create an equitable learning and working environment in concert with individuals who consistently demonstrate commitment to equity and inclusion. We greatly value the diverse identities and perspectives of our students, faculty, and staff and recognize that in order to achieve a just and equitable society, diversity must go beyond simple representation. It requires critical inquiry and dialogue and a commitment to action. We strive to provide a culture of belonging for all community members to achieve personal and professional success.
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