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Financial Aid Compliance Analyst

Employer
Wayne State University
Location
Michigan, United States
Salary
Salary Not Specified
Posted Date
May 13, 2022

View more

Position Type
Administrative, Business & Administrative Affairs, Financial Affairs, Grants & Contracts, Legal Affairs, Student Affairs, Financial Aid
Employment Type
Full Time
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Position Information

Posting Details


Posting Number
046459

Position Title
Financial Aid Compliance Analyst

Number of Vacancies
1

School/College/Division/Institutes/Centers
92 - Student Services

Primary Department
H9247-Student Financial Aid

Working Conditions
Working Conditions
Normal office environment.

Essential Functions (Job Duties)
Position Purpose
Oversees and performs varied and complex federal and state financial aid compliance activities in support of the Office of Student Financial Aid to ensure University compliance responsibilities are met. Applies knowledge of financial aid compliance to develop and monitor systems processes to ensure the Office of Student Financial Aid's compliance responsibilities are met, including electronic federal financial aid processes; other federal and state compliance processes; institutional, endowed/annual and external scholarship processes; NCAA regulations; and the Board of Governors policy.

ESSENTIAL FUNCTIONS
Run necessary system configuration, term-related processes and daily federal financial aid extract and import processes, to ensure accurate disbursements and proper implementation of various financial aid programs. Periodically run reports that will proactively ensure compliance with federal regulations and identify issues that are a potential risk to reconciliation of federal funds. Review output and guide OSFA staff to correct student records and maintain accurate documentation of corrections.
Test systems processes, including workflows, Appworx Chains, Banner processes, including all aspects of the Banner system that touch on student financial aid eligibility, financial aid disclosures, and reconciliation to ensure university remains in compliance with required data used in the awarding, disbursement and reconciliation of financial aid. Recommend updates to processes to ensure compliance with Title IV regulations.
Monitor scholarship awarding process to ensure data integrity for awarding and renewal of need-based and merit institutional aid annually. Provide technical and analytical support for external software used for awarding endowed and annual funds. Includes maintaining documentation of award requirements from year to year to ensure federal, state and NCAA requirements are met.
Perform necessary system configuration and rollover tasks to support multiple financial aid business processes in BANNER.
Investigate audit or questions in periodic audits (federal, state and institutional). Assist in the development of annual audit responses and implementation of corrective action plans as needed.
Monitor federal and industry changes and work with management to ensure the university remains in compliance with new regulations.
Interface with other staff in the university, including technical and operational, to ensure Office of the Student Financial Aid systems and process interface effectively with other areas of the university.
Perform other related duties as assigned.

Unique Duties

Qualifications
MINIMUM QUALIFICATIONS

Education Bachelor's degree
Requires a Bachelor's degree in Business, Public Administration or a related field. Candidates with an equivalent combination of education and experience may be considered.

Experience Intermediate (3 to 4 years job-related experience)
Requires 3 or more years of related experience. Must meet eligibility requirements for access to Federal Student Aid systems.

Knowledge, Skills and Abilities
Knowledge of and experience with Federal Title IV regulations and University policies that could impact compliance with regulations at all levels.
Proficient in Banner financial aid or similar software, Microsoft Excel, Microsoft Access, and familiarity with SQL.
Experience with verifying and auditing data; problem solving/solution development; and implementing process improvement.
Demonstrated organizational skills and strong attention to detail.
Self-motivated and able to work effectively in critical and time sensitive situations both independently and as part of a team.

Preferred Qualifications

Testing Requirements
Not Applicable

Test Scheduling

Job Type
Full-Time

Job Category
Professional/Administration & Supervisory/Management

Duration of Posting

Fiscal Year of Job Open Date
2022

Job Open Date
(When job is posted in the system)
05-13-2022

Job Close Date
(or until suitable candidate is found)
05-26-2022

Is this position reposted?
No

Reposting Reason:
None (New Posting)

Application Information

Background Check Requirements
University policy requires certain persons who are offered employment to undergo a background check, including a criminal history check, before starting to work. If you are offered employment, the University will inform you if a background check is required.

Instructions for submitting your application:
submit application via WSU's Online Hiring System

Represented Position Message


Funding/Salary Information

Salary (Minimum)
(Non-Academic Only)
55276

Salary (Hire Max)
(Non-Academic Only)
66334

Salary (Maximum)
(Non-Academic Only)
82917

Hourly Rate
(Non-Academic Only)

Salary Range
(Academic Only)

Is Position Bump Ineligible?
(Non-Academic, Represented positions only. Select 'No' for Academic. Select N/A if Non-represented.)
**NOTE: If 'Yes' is selected, then this is a Bump Ineligible Position (BIP). The person who bids or hires into this 100% grant funded position has no bumping rights upon grant expiration or in a reduction of force.
No

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