Accountant - Collections Services (Bursar)
About The Position
The Office of the Bursar is seeking a motivated, detail-oriented Accountant (Intermediate Professional) for its Collections Services Team. Reporting to the Accounting Manager, Collections Services, the role supports the collection, servicing, and reconciliation of past-due tuition balances, Federal Perkins Loans, and University-funded loans. It supports the team’s accounting and operational functions by ensuring the accuracy, integrity, and compliance of financial transactions and records. Work includes financial analysis and reporting, regulatory compliance, loan-servicing oversight, process improvement, system support, and developing and maintaining accounting procedures and internal controls. The position requires knowledge of applicable federal and state regulations, including the Fair Debt Collection Practices Act (FDCPA), the Family Educational Rights and Privacy Act (FERPA), and the Gramm-Leach-Bliley Act (GLBA). The role combines remote and on-campus work; approval of remote or hybrid work is not guaranteed. The successful candidate must be eligible to obtain access to U.S. Department of Education platforms as required, including having no personal or student loans in default. Employment is contingent on background checks and a credit history check. Applicants must be authorized to work in the United States; Penn State does not sponsor or take over sponsorship of staff employment visas.
Requirements
- Bachelor’s degree in accounting, finance, or a related field, or an equivalent combination of education and experience.
- At least 1 year of relevant experience.
- Strong accounting knowledge and experience reconciling complex accounts and resolving discrepancies.
- Excellent written and verbal communication skills and the ability to collaborate effectively with university partners, external agencies, students, and families.
- Analytical and problem-solving abilities, including identifying issues and implementing effective solutions.
- Strong organizational skills and ability to manage multiple priorities and meet deadlines in a fast-paced environment.
- Advanced proficiency in Microsoft Excel and strong working knowledge of Microsoft Office applications.
- Professionalism, initiative, accountability, attention to detail, and commitment to accuracy.
- Ability to work independently and collaboratively.
- Eligibility to obtain access to U.S. Department of Education platforms as required.
- Authorization to work in the United States.
- Successful completion of background checks and a credit history check.
Nice To Haves
- Experience with ERP systems such as PeopleSoft, Flywire, or ECSI.
- Experience processing or supporting federal financial aid programs.
- Experience in higher education financial operations, student receivables, loan servicing, or collections.
Responsibilities
- Manage University Loan and Federal Perkins Loan aging and third-party collection agency placements for the loan funds.
- Coordinate the assignment of defaulted Federal Perkins Loans to the U.S. Department of Education, support collection efforts, and maintain acceptable default rates.
- Maintain relationships with third-party collection agencies, including monitoring and evaluating their performance.
- Support tuition write-off analysis through receivable reporting, posting-error resolution, account reconciliation, and financial analysis.
- Coordinate with third-party servicers responsible for delinquent student accounts, Federal Perkins Loans, and University-funded loan programs across Penn State campuses and affiliated entities.
- Prepare weekly, monthly, and annual reports and analyses related to student account receivables, Federal Perkins Loans, and University-funded loan portfolios.
- Coordinate 1098-E tax documents with the loan servicer.
- Identify collection process improvements that enhance operational efficiency and customer service.
- Maintain and support implementation of the Collections Services Team’s business process documentation.
- Monitor changes to university policies, internal controls, and federal and state regulations, and communicate updates to leadership and staff.
- Track team goal progress and provide input on performance toward annual objectives.
- Assist with international tax reconciliations, posting corrections, and the Form 1042-S reporting process.
- Support accounting operations by ensuring the accuracy, completeness, and compliance of financial records and transactions.
Benefits
- Medical, dental, and vision coverage.
- Retirement plans.
- Paid holidays, vacation, and sick time.
- 75% tuition discount for employees and eligible spouses and children.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
