Federal Student Aid Compliance Auditor

West Coast University, Inc.•Irvine, CA

10h•$78,458 - $113,753

About The Position

Internal audits are a key part of higher education institutions, helping to ensure compliance, manage risk, and improve operations. The Higher Education Act (HEA) requires participating schools to meet certain standards and expectations to be eligible to receive Title IV. The Federal Student Aid Compliance Auditor is responsible for internal quality assurance through the implementation and handling of on-site compliance audits at multi-locations of American Career College and West Coast University. The audit functions are designed to provide the organization with objective, independent appraisals of control processes within the regulatory requirements set forth by FSA Guidelines. In this role, the Federal Student Aid Compliance Auditor will plan and execute a comprehensive audit plan each year that is focused on FSA and Title IV compliance..

Requirements

Bachelor's degree or higher.
3-5 years experience in Title IV administration or public accounting with single auditor experience.
Strong knowledge of Title IV regulations and DOE audit standards.
Knowledge of state, federal and local laws/regulations relating to programs, governmental compliance and other regulatory standards related to Title IV.
Demonstrated ability to comprehend and apply multiple sets of regulations to an individual situation.
Ability to meet timely responses to requests for approvals, audits or surveys.
Ability to promote/maintain a cooperative work environment.
Ability to understand compliance and regulatory issues in a highly ethnic and culturally diverse student and associate community.
Ability to use effective communication skills, both oral and written, including complex proposals and presentations, and effective listening skills.

Nice To Haves

Degree in Accounting, Finance, or Public Administration highly preferred.

Responsibilities

As directed, perform regulatory compliance audits of schools, to include written reports of audit results, including recommendations for corrective action and compliance with federal laws and regulations focused on Title IV and institutional aid programs.
Audit plan will focus on identifying high-risk areas including: Return of Title IV; Satisfactory Academic Progress, Verification; Professional Judgment; Packaging and over-awards, Disbursement Controls; and Cash Management.
Perform follow-up audits within a specified time-period to ensure regulatory compliance.
Communicate results of audits to school and corporate management in verbal and written formats in a timely manner.
Keep internal compliance management informed of audit progress, schedules changes, regulatory issues requiring immediate and/or detailed attention, and other issues that arise, as applicable.
Ensure effective closure to audit findings by working with applicable campus staff/department to ensure comprehension, development, and execution of corrective/preventive action with regards to any nonconformity cited during audit.
Track qualitative and quantitative functional areas of compliance through creation of reports; analysis of data; and recommendations for corrections/preventative steps/measures to be incorporated into policy and procedures.
Develops/modifies audit checklists as regulatory requirements change.
Maintains knowledge and understanding of regulatory and accreditation standards and requirements.
Participates in professional development and organizations in order to maintain an understanding of current regulatory environment.