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Compliance Officer- Financial Aid

College of Lake County
Illinois, United States
Salary Not Specified
Posted Date
May 19, 2022

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Position Type
Faculty Positions, Business & Management, Business Administration, Administrative, Business & Administrative Affairs, Financial Affairs, Grants & Contracts, Legal Affairs, Student Affairs, Financial Aid
Employment Type
Full Time
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Posting Details

Posting Detail Information

Posting Number S01774 Position Title Compliance Officer- Financial Aid Internal Position Title Compliance Officer Department Financial Aid Position Type Staff Job Family Specialist Job Summary
The College of Lake County is seeking a Compliance Officer in the Financial Aid Department. This position has primary responsibility for reviewing the business processes and accuracy of work in the financial aid department to assure compliance with all federal and state financial aid and veteran’s educational benefit regulations, as well as institutional procedures. This entails developing materials and workshops to keep financial aid staff abreast of regulatory requirements, and auditing student files for accuracy and compliance with federal regulations including standards of academic progress, student cost of attendance, award eligibility, and return of Title IV funds. Additional oversight involves the use of monitoring reports to verify data integrity and accuracy in the system, and to develop and implement corrective action plans for identified processing and business practice concerns.

CLC offers a competitive salary, excellent benefits that currently includes BlueCross/BlueShield of Illinois health, Delta dental and Superior vision insurance plans, tuition support for employees and qualified family members, three retirement plans, disability, group and supplemental life insurance, health and dependent care flexible spending account plans, a four-day work week in the summer (Fridays off!), generous vacation, sick and personal time off and 14 paid holidays each year.

The College of Lake County ( CLC ) is a comprehensive community college located in northeastern Illinois committed to being an innovative educational institution providing life-changing paths for our students by offering exceptional learning experiences.

The college is widely recognized for student success, business and community partnerships and for the achievements of our faculty, staff and alumni. Long-known as an employer of choice in Lake County, CLC was ranked #15 on the Forbes list of Top 100 Employers in the State of Illinois for 2019. Required Qualification
1. Bachelor’s degree in accounting, business or related area.

2. Comprehensive knowledge of federal and state regulations applicable to financial aid programs.

3. Excellent verbal and written communication skills, auditing skills (solid ability in math, statistical analysis and sampling) and management skills.

4. Proficient with Microsoft Office Suite. Desired Qualifications
1. Demonstrated progression of experience and increasing responsibility in a financial aid department.
2. Demonstrated ability to quantitatively/qualitatively measure, assess, interpret, analyze information, and provide feedback and prepare reports to document changes needed to improve processes evidenced through improved performance and productivity.
3.Prior auditing experience or experience as a compliance officer.

4.Experience working with financial aid management software. Posting Date 05/19/2022 Closing Date 05/29/2022 Expected Start Date Special Instructions Summary Pay Rate $57,000 to $60,000 Full-Time/Part-Time Full-Time Location Grayslake Total Hours per week 40.00 Work Schedule
Monday – Friday: 8:00 a.m. – 4:30 p.m.
Hours may vary based on the needs of the college. Software Testing Required Excel, MS Word Interview Process Requirements None EEO Statement
The College of Lake County is an equal opportunity employer and has a strong commitment to diversity. In that spirit, it seeks a broad spectrum of candidates including minorities, women and people with disabilities. EOE /AA/M/F/D/V Summary of Essential Functions
Job Category: Department Operations and Procedures | 60%
1) Review on an on-going basis, samples of student files to ensure necessary documentation is maintained and processing is performed in an accurate and timely manner.
2) Oversee quality assurance, accuracy, and data integrity
3) Monitor day-to-day operations within the department
4) On-going internal review of financial aid compliance with government and institional policies and regulations
5) Review student accounts to make certain awards are in compliance with Department of Education mandates, correct overawards as warranted
6) Audit student loans for accuracy and compliance with disbursement regulations.
7) Cancel student aid as warranted in compliance with institutional and government regulations.
Job Category: Project Leadership | 20%
1) Audit federal and state military programs for compliance with regulations.
2) Conduct periodic audit of student work-study time cards for accuracy and compliance with program regulations.
3) Conduct monthly audit of Return to Title IV and over-award calculations for compliance with accuracy and timeliness.
4) Ensure all aid and benefit programs are reconciled according to compliance schedules.
5) Prepare monthly compliance reports on department operations and programs.
6) Audit changes from patches/fixes/upgrades to ensure staff are complying with newly implemented operating syatem changes.
7) Assist in annual departmental audits as assigned.
8) Conduct term audit of standards of academic progress calculations and special circumstance decisions for accuracy.
Job Category: Strategic Leadership & Planning / Management & Supervision | 10%
1) Staff training as warranted due to indentification of compliance and file processing concerns as a result of on-going file review
2)Recommend business operations changes to ensure compliance with government and institutional policies and regulations
3) Work with Director and Dean of Enrollment Services to ensure compliance concerns are adressed and corrected
4) Work with other departments to ensure conpliance concerns are addressed and corrected
5) Review proposed changes to financial aid operations and evaluate such changes from a compliance perspective.
6) Assist with the creation and updating of department policies and procedures.
7) Recommend business operations changes to ensure compliance with government and institutional policies and regulations.
8) Review student financial aid forms and loan aplications to ensure compliance with government policies and regulations.
Other: Student and Customer Service | 10%

1) Work closely with other departments and agencies to resolve student aid issues.
2) Work closely with other schools to resolve student aid issues in compliance with government regulations.
3) Research federal student aid and state agency websites for changes in financial aid policies and regulations. Monitor regularly. Disemminate information to the financial aid staff, recommend updates to policies as warranted.
4) Review financial aid information on the the college website to ensure accuracy and compliance with government an institutional policies and regulations.
5) Perform other related duties as assigned. Posting Specific Questions - supplemental questions

Required fields are indicated with an asterisk (*).

  1. * Do you have a Bachelor’s degree or higher in accounting, business or related area?
    • Yes
    • No
  2. * Do you have comprehensive knowledge of federal and state regulations applicable to financial aid programs?
    • Yes
    • No
  3. * Do you have demonstrated progression of experience and increasing responsibility in a financial aid department?
    • Yes
    • No
  4. * Do you have experience working with financial aid management software.
    • Yes
    • No
  5. * Do you have prior auditing experience or experience as a compliance officer?
    • Yes
    • No
Applicant Documents
Required Documents
  1. Resume
  2. Cover Letter
  3. Unofficial Transcript 1
Optional Documents
  1. Unofficial Transcript 2
  2. Other Document

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