LOAN ADVISOR
C1015
Pay Level 12
Purpose of Classification:
Responsible for the management, coordination, maintenance and audit for all phases of the billing and collections for student loans; within established rules and policy guidelines, for maintaining financial and accounting records for such programs reviewing documents for accuracy; uses computerized accounting systems to generate financial reports; assures clear audit trail by maintaining files of source documents and preparing audit schedules, pulling required documents and preparing requested reports; prepares billings and assures collection of monies due the College for general student, third party, loan programs and other accounts receivable; resolves questions on accounts, negotiates payment schedules or refers questionable expenditures to managers for further action; may lead the work of hourly and/or bargaining unit staff; may provide ongoing computer technology support; does related work as required. Work requires knowledge of accounting/bookkeeping principles and procedures, analytical and mathematical skill, excellent organizational skill, attention to detail and accuracy in reviewing, reconciling and preparing financial records. Work requires excellent communication and interpersonal skills to resolve fund accounting and billing/collection issues, work with students, staff, agencies, vendors and debtors.
Work is performed in accordance with the College’s mission, vision, and core values.
Essential Functions:
Advises and trains a variety of individuals regarding loan and academic eligibility and responsibility, account status, completion and submittal of applications, process and procedures, enrollment and attendance policies, financial and education planning, budgeting and debt management, loan responsibilities, default and default prevention, deferments, postponements, and cancellation of loans; appeals procedures, credit history, deferment/cancellation requirements, loan repayment and exit interview requirements for student loans.
Reconciles student loan accounts and initiates required corrections; audits reports and prepares necessary accounting adjustments; monitors satisfactory debt repayment agreements; locates borrowers and responds to noncompliance in accordance with federal due diligence requirements; refers loan accounts to Department of Education or appropriate collection agencies. Prepares comprehensive reports and financial analyses. Researches and processes requests from College departments outside agencies and student billing service for account adjustments.
Assists with negotiation of contracts with collection agencies and vendors; evaluates and analyzes the effectiveness of collection agencies; acts as liaison between the institution and governmental agencies, colleges, universities, lender and other agencies; authorizes and certifies cancellation of loans, postponements, deferments, negotiate repayments, collection assignments, bankruptcy claims, extended credit, refunds and credit information according to federal, state and College regulations and policies.
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.
Does related work as required.
Minimum Qualifications:
Two (2) years of post-secondary education with course work in finance, public administration, accounting, human resources, counseling, or a related field is required. Three (3) years of experience in area of assignment is required.
Equivalent combination of training and experience will be considered qualifying.
Knowledge, Skills and Abilities:
Knowledge of: generally accepted accounting/bookkeeping principles and procedures in accounts payable/receivable, billing/collections or payroll; federal, state, and institutional regulations; confidentiality regulations related to student information; general office procedures and practices; College fiscal policies and procedures; federal rules and regulations pertaining to debt collection and bankruptcy; and ability to use spreadsheet, database, and word processing software and automated accounting/billing systems.
Skill in: financial analysis and report preparation.
Ability to: analyze and make decisions on complex bookkeeping problems; interpret and apply College fiscal policies and applicable state and federal regulations to the work; initiate and implement more efficient procedures; keep accurate financial records and provide an audit trail; work under pressure and meet deadlines; operate a ten-key calculator by touch; operate other office equipment such as typewriter, microfiche reader/printer, computer terminal and/or microcomputer; maintain confidentiality of records; pay attention to detail with a high degree of accuracy; work independently and make decisions; communicate effectively orally and in writing; organize and prioritize work; maintain effective working relationships with students, staff, administrators, vendors, and outside agencies; train, schedule, and assign work to others as required by the position; handle conflict situations and keep focus on facts and problem resolution; and work safely in operating equipment and/or performing duties to prevent injury to self and others.
Supervision:
Work is performed independently under the general supervision of a manager in accordance with federal, state, and institutional policies, rules, regulations, procedures and interpretations. Positions in this classification are responsible for establishing their own work procedures and priorities with broad guidelines. Many assignments are self-generated based on a knowledge of work processes and results that must be achieved.
This position may have responsibility to assign tasks, provide priorities, train and monitor the work of hourly employees and student assistants. Positions may also have substantial input into performance evaluations and hiring decisions.
02-25-08