Financial Aid Operations Specialist

Unit: Office of Strategic Enrollment Management

Department: Financial Aid

Department Summary: The Office of Financial Aid and Scholarships in the Division of Strategic Enrollment Management and Global Initiatives is recruiting for an Operations Specialist to support student enrollment, retention, and success orting to the Assistant Director of Compliance, the Operations Specialist performs activities related to the effective operations of VCU financial aid programs with an emphasis on Course Program of Study (CPoS).

If you are looking for a change in job or career path, this position may be the right one for you! We provide training to all new employees, so no experience is required. This position is a hybrid position where remote work is optional up to 40% of the week.

Financial Aid Operations – Award and Risk Management (20%):

• Complete verification review and processing steps, review and respond to students experiencing extenuating circumstances impacting aid needs, adjust awards based on changes in Student Aid Index.
• Troubleshoots inquiries with third-party verification servicer.
• Responds timely to counselor requests for pending items such as updating student award packages and verification material.
• Completes related reports on a daily, weekly, or as-needed basis including, but not limited to:
  Subsequent ISIR, Residency Mismatch, Level Mismatch, C-Flag, Disbursement Error, Counselor Request Form. Refund Exception, Overaward, Unusual Enrollment History, Housing Error, Pell History, Loan History, and Loan Extract and Reject Error Logs or Private Loan Error Logs.
• Keeps financial management system (Banner) updated with accurate document requirements to reflect current status after processing forms.
• Communicates with students via email regarding document deficiency or loan status.
• Review applications and request forms for completeness and accuracy.
• Track incomplete forms and communicate with students and staff to resolve issues.
• Assists with awarding of financial aid packages for the fall, spring, and summer semesters.
• Originates federal Direct Loans, including PLUS loans.
• Certifies private alternative loans and communicates with lenders to resolve issues.
• Corresponds with external stakeholders and lenders in a concise and professional manner.
• Handles sensitive and confidential information with discretion.
• Monitors accounts for over-awards or overlapping loan periods and completes related outreach.
• Identifies students who can be offered a prorated loan for the final term of study.
• Ensures loans are correctly posted in the financial management system (Banner) under the correct SAY code, BBAY code, budget group, and packaging group.
• Remains current on collaborative dashboards for PLUS loan or private loans and is actively transparent with updating the account with a comment.
• Participates in the annual Agency Risk Management and Internal Control Standards evaluation process.
• Collaborates with spot-checking and testing in Banner during new year setup.

Course Program of Study (45%):

• Perform outreach to student success teams (SFMC) for students who may have aid recalculated as a result of CPoS results.
• Review and monitor reports for CPoS compliance and student eligibility.
• Perform aid recalculations based on degree audit results and CPoS overrides.
• Review and resolve over awards and perform COA adjustments.
• Ensure accurate financial aid awarding, revisions, and disbursements occur in accordance with federal, state and institutional regulations.
• Support ongoing Banner system testing and updates for CPoS.
• Recommend improvements to workflows that enhance accuracy, efficiency, and compliance.
• Participate in internal audits and compliance assessments, as needed.
• Review and analyze data to identify patterns impacting enrollment, time to degree, and compliance.
• Prepare data summarizing trends, as well as exception type and volume.

Culture of Care and Collaboration (10%):

• Listens to and anticipates staff and student needs.
• Responds to inquiries from colleagues in an accurate and timely manner.
• Maintains a solutions-driven outlook to resolve an inquiry, knowing that it impacts a student’s enrollment, retention, and…