FINANCIAL SPECIALIST 2
C1414
Pay Level 10
Purpose of Classification:
A Financial Specialist 2 is responsible, within established rules, regulations and policy guidelines, for the effective maintenance of institutional and student accounts by managing, reconciling, monitoring and resolving issues related to account transactions.
These positions also provide paraprofessional assistance and serve as a resource to support and train College staff and external clients in the interpretation and application of internal policies, procedures, and regulations related to areas of assignment.
Financial Specialist 2 positions are distinguished from Financial Specialist 1 positions by a higher level of discretion, working with and analyzing more complex systems, providing consultation and training support, and working more autonomously.
Financial Specialist 2 positions are distinguished from Accountant Trainee and Accountant positions by having limited College budgetary/fiscal responsibilities, limited grant responsibilities, and no investment management responsibilities. Financial Specialist 2 positions have responsibility for receipt or dispersal of funds and higher level of contact with students and employees.
Additionally, Accountant Trainee and the Account positions require a Bachelor's degree whereas Financial Specialist 2 positions require only an Associate's degree.
Work is performed in accordance with the College's mission, vision, and core values.
Essential Functions:
Using complex, internal and external software systems, manage College and student accounts and financial transactions. Monitor and maintain accounts by reviewing activity, verifying accuracy, researching and resolving accounting discrepancies. Research issues, diagnose problems, and recommend and implement solutions and/or changes to policies and procedures as needed.
Monitor and prepare checks and check requests. Check and approve expenditures within established guidelines. Carry out billing, collection and reporting activities according to specific deadlines. Prepare necessary correspondence and communication for billing or payment purposes. Prepare and post journal entries to adjust accounts and reconcile balances; ensure that a clear audit trail for expenditures is maintained by the establishment and maintenance of files of financial source documents. Compile, analyze and prepare reports of income and expenditures; maintain high degree of confidentiality in the management of information and records.
Research and process requests from College departments, outside agencies and student billing service for account adjustments; notify departments regarding issues in class scheduling affecting tuition and fee assessments; make necessary adjustments.
Analyze, reconcile and balance account details and controls. Review account documents and financial transactions and resolve problems with administrative staff or manager; research and resolve problems pertaining to billing or payment; making independent professional decisions to provide solutions. Reconcile accounts and initiate required corrections by preparing and entering journal entries to move expenditures; audit reports and prepare necessary accounting adjustments.
Manage disbursement of financial aid, scholarships, sponsored accounts, and/or refunds. Interpret and apply institutional and vendor rules, regulations and policies while making independent judgments that carry fiscal consequences for students and for the institution. Review and enter scholarship requests for completeness and accuracy according to institutional requirements. Notify students and/or sponsors of missing or required information to complete process. Monitor financial transactions, sponsor contracts, and general ledger accounts minimizing the College's exposure to risk and liability.
Properly execute sponsored accounts contracts. Schedule day-to-day flow of data to and from sponsor. Coordinate with other departments regarding sponsorship eligibility, program costs, and remaining available funds for sponsored students. Use automated systems to monitor sponsored accounts and notify students of changes in sponsorship or sponsorship eligibility.
Review and analyze petition for refund requests. Complete weekly refund processing of overpayments on accounts according to applicable rules and regulations.
Manage and reconcile the College's daily revenue accounts, which include the cash on hand. Process credit card payments; extract, prepare, review and analyze daily credit card financial activity reports for the College. Monitor and reconcile financial information, identifying discrepancies and problems and recommending solutions. Prepare and send bank deposits.
Ensure procedures are followed in all aspects of institutional and student account management. Provide guidance, training and technical assistance to College staff and external clients to areas of assignment. Prepare, review, and analyze special reports as requested.
Actively demonstrates Lane's core value of Diversity by modeling and ensuring diversity and cultural competency (respect, inclusiveness, reflecting, valuing and welcoming of cultural differences) in all position responsibilities regardless of age, color, disability, gender, gender identity or expression, social class, marital status, national origin, race, ethnicity, religion, sexual orientation, veterans status, nationality, age, origin, first language, geographic location, communication style or work style or status.
Work is performed within the applicable College and departmental policies, procedures, and priorities.
Does related work as required.
Minimum Qualifications:
An Associate's degree in accounting, finance, or related field is required. Two years of experience in fund accounting, accounts receivable, accounts payable, billing, payroll or related field is required. Some positions in this class require that the employee be bondable.
Equivalent combination of training and experience will be considered qualifying.
Knowledge, Skills and Abilities:
Knowledge of: and skill in applying generally accepted account management principles and procedures in accounts payable/receivable, billing/collections or payroll; and ability to interpret and apply federal, state, and other agencies' regulations; College fiscal policies and procedures; general office procedures and practices; and ability to create systems and develop analytical tools in maintaining automated accounts systems; knowledge of and ability to apply team principles and practices.
Skill in: financial analysis and report preparation; managing complicated spreadsheets, downloads and extracts; problem solving.
Ability to: analyze and make decisions on complex account problems; maintain and ensure confidentiality of all financial and personal information; keep accurate financial records and provide an audit trail; understand complex mathematical calculations and communicate their impact to students, colleagues, and sponsors; understand how automated financial systems affect individual accounts and records; use spreadsheet, database and word processing software and automated accounting/billing systems; remain current with software applications; analyze data and develop recommendations regarding processes or procedures; initiate and implement more efficient procedures; work under pressure and meet deadlines while maintaining accuracy; work independently and make decisions; organize and prioritize work; work within a team environment and to carry out individual assignments with no direct supervision; work collaboratively as a member of a team with active and appropriate participation; establish and maintain effective working relationships with students, staff, administrators, vendors, other agency staff and the general public; resolve conflicts and negotiate acceptable resolutions; explain established policy and procedures using judgment and diplomacy; represent the College in a professional manner in person and on the phone; train employees and establish work practices; work collaboratively with a diverse and changing population within the college and external agencies; attend meetings and trainings as required; and work safely in operating equipment and/or performing duties to prevent injury to self and others.
Physical Demands:
While performing the essential functions of these positions, employees in this classification may be required to sit, stand, keyboard, write, listen, and speak for extended periods of time Work involves concentrated mental and visual attention for sustained periods of time. Work may require transporting materials up to 25 pounds.
Working Conditions:
Positions in this classification work indoors. These positions are exposed to usual office working conditions such as office noises and interruptions, such as printers, telephones, and visitors. These positions may work with individuals who may be hostile or abusive.
Some positions in this classification require that the employee be bondable.
Tools and Equipment Used:
In performing the essential functions of the position, the following tools and equipment may be used: laptop and desktop computers, various computer hardware and software, cash counting tools, copiers, printers, fax machine, telephone and other related tools and equipment.
Supervision:
Works under the general direction of a manager who sets forth broad working policies and program objectives. Positions in this class are responsible for establishing their own work procedures and priorities within broad guidelines. Many job assignments are self-generated based on knowledge of work processes and results that must be achieved. Work is performed independently based on previous knowledge and professional judgment according to local, state and federal regulations, applicable laws, and college policies. Work results are evaluated periodically by manager to assess results obtained and for conformance to overall program goals and professional standards.
Positions in this classification may have the responsibility to assign task, provide priorities, train and monitor the work of other staff. Some positions may plan, assign, approve, instruct, set priorities and schedule the work of staff in the absence of the supervisor. Positions may also have substantial input into performance evaluations and hiring decisions.
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