Financial Specialist - Hybrid

University of Illinois Urbana-Champaign•Urbana, IL

2d•Hybrid

About The Position

The Financial Specialist serves as the University Bursar’s subject-matter expert for student loan fund accounting, overseeing nearly $60 million in federal and institutional loan funds at the Urbana-Champaign and Chicago campuses. Under the direction of the Director of Business Operations, the role manages the full accounting cycle for nearly 100 Perkins, HRSA Health Professions, and institutional loan funds and ensures accurate integration between Banner and the University’s loan servicer. The position prepares federal compliance reports and quarterly and annual reports for University Accounting and Financial Reporting, and works with Financial Aid on fund projections that determine annual lending capacity. The position also supports University System accounts receivable operations, including daily payment-portal feeder processing, returned-check resolution, refund reconciliation, and Banner data reporting for Business Operations analysis and decision-making. It exercises independent judgment to safeguard high-dollar fund balances and ensure compliance with university, state, and federal requirements. This is a 100% full-time, 12-month Civil Service appointment. The position is hybrid and does not offer work-authorization sponsorship.

Requirements

Bachelor’s degree in business administration, management, or a field related to the position.
Two years of professional business, financial, and/or managerial work experience.
Demonstrated experience in financial reporting, account/payment reconciliations, and/or financial operations.
Specialized knowledge of professional accounting practices and applicable state and federal guidelines and regulations.
Excellent verbal and written communication skills.
Ability to prepare clear, detailed financial reports.
Strong interpersonal skills and demonstrated problem-solving capability.
Excellent organizational and multitasking skills; ability to exercise good judgment and discretion.
Advanced proficiency in Microsoft Excel and working knowledge of other Microsoft Office applications, such as Word and Outlook.
A master’s degree in an area consistent with the position’s duties may substitute for one year of work experience.

Nice To Haves

Demonstrated financial and accounting expertise in analyzing financial documents, reports, and related processing systems.
Proficiency with SQL and report-writing or query tools such as DBeaver.
Knowledge of Banner programs and applications.
Work experience in a higher education institution, preferably the University of Illinois.

Responsibilities

Coordinate and prepare required annual federal reports, including Perkins FISAP reports for the U.S. Department of Education and Annual Operating Reports for HRSA.
Prepare and analyze annual portfolio reports summarizing loan balances, collections, and default rates for each campus.
Prepare quarterly student loan portfolio financial reports for University Accounting and Financial Reporting.
Reconcile monthly refunds from student and general accounts receivable for all three campuses against University accounting records.
Manage daily accounts receivable data processing in Banner and related integrated systems, including preparing, reviewing, and submitting feeder data from University payment portals.
Coordinate and administer returned-check processes, including investigation, processing, communication, documentation, and timely resolution of discrepancies.
Verify monthly that loan disbursements and borrower payments transfer accurately between Banner and the third-party loan servicer; research discrepancies and coordinate corrections.
Manage and reconcile three loan-payment and adjustment holding accounts, monitoring activity and ensuring transactions clear accurately and promptly.
Coordinate monthly reconciliations of each federal and University-funded loan fund, investigate discrepancies, and implement corrections.
Analyze and project available funds monthly for each loan fund and provide Financial Aid with projections for annual student loan funding decisions.
Support financial activities for closing out the federal Perkins Loan program, including verifying loan cancellations and assisting with transfer of remaining loans and cash balances to the U.S. Department of Education.
Calculate, review, and record annual financial allowances, including administrative and doubtful-account allowances, with supporting documentation.
Coordinate federal funding activities for low-cash HRSA health professions loan funds, including reviewing Notices of Award and coordinating federal fund drawdowns.
Develop, generate, and maintain Banner data downloads, reports, and datasets for financial reporting, reconciliation, analysis, and operational decision-making.