This role supports a university accounting-related area or program.
Manages the collections and loan services unit of Student Finance. This includes supervision of staff, customer contact, and account analysis.
Implements existing policy & ensures the effective, compliant, & efficient completion of daily financial activities.
Follows established regulations and procedures for administering federal and private student loans and account collections.
Applies industry and professional standards, interprets university policy and procedure, federal and state laws, granting agency guidelines, and other regulations (as applicable).
Complies with federal guidelines regarding collection of student accounts and loans. Communicates (verbally and in writing) with students, parents, co-makers concerning student account default and loan repayment options, including options for forbearance and deferment.
Analysis, Statements & Reporting:
Creates daily, monthly, annual, &/or project end analysis & reports regarding area/unit, grants &/or awards, accounts, funds, payroll, expense &/or revenue allocation, customer service activity, etc.
Monitors collection activity of all account and loan programs to minimize default rates.
Provides review and oversight of all types of financial transactions some of which may be complex in regard to size or duration of account.
Reviews loan transactions with borrowers.
Reviews collection agreements with students
Provides financial policy interpretation to determine the validity of customer requests & ensure compliance.
Analyzes account and loan issues that require special handling.
Processes & presents data & information through the application of database, graphic & spreadsheet software.
Uses excel spreadsheets for review of activity on student collection and loan accounts.
Obtains data by downloading from enterprise systems and loan servicer; develops and runs queries.
Downloads data from various systems to use in reports.
Manages operation interaction with a computer system or system processes that support the area or program.
Manages the relationship with the loan servicing vendor.
Ensures that area service level goals are met.
Manages staff performing various account and loan collection activities: loan forbearance and deferment review, settlement offers, payment plans.
Contacts defaulted students and borrowers to arrange payment plans, if possible. Skip traces borrowers who are in default. Determines when accounts or loans should be recommended for bad debt write off. Monitors accounts approaching final maturity.
Provides training and support to related university units or program participants; maintains website and training materials.
Provides work direction to others
Supervises collection and loan service staff
Is responsible for hiring permanent and temporary employees in his/her unit and provides input for hiring staff in other units.
Performs other duties as assigned.
Bachelor’s Degree in Accounting, Business Administration, Finance or related field; OR 2 years financial administration work experience; OR equivalent combination education and experience where similar knowledge, skills, and abilities may be acquired.
At least 2 year supervisory experience.
At least 3 years customer service experience.
Excellent oral and written communication skills.
Minimum Competencies: (Skills, knowledge, and abilities.)
Ability to use multiple software programs (Word, Excel, etc).
Customer service experience.
Accuracy and attention to detail.
Preferred Qualifications: (Education and experience)
Experience with account collection.
Experience with student loan programs.
Experience with loan servicer systems.
Knowledge of federal student loan regulations.
Preferred Competencies: (Skills, knowledge, and abilities)
Ability to use available information to make educated decisions.
Ability to delegate tasks effectively, set clear expectations/goals, hold people accountable.
Northwestern University is an Equal Opportunity, Affirmative Action Employer of all protected classes, including veterans and individuals with disabilities. Women, racial and ethnic minorities, individuals with disabilities, and veterans are encouraged to apply. Hiring is contingent upon eligibility to work in the United States.
Internal Number: 35962
About Northwestern University
Northwestern University is a major private research university with 12 academic divisions located on three campuses in Evanston, Chicago, and Education City in Doha, Qatar. We have approximately 2,500 full-time faculty members, 17,000 graduate and undergraduate students, and over 5,700 full and part-time staff. Northwestern University combines innovative teaching and pioneering research in a highly collaborative environment. It provides students and faculty exceptional opportunities for intellectual, personal and professional growth.