Financial Aid Operations Specialist

About the role

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 at VCU. Reporting 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). Training is provided to all new employees.

Responsibilities

• 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, and adjust awards based on changes in Student Aid Index.
  • Troubleshoot inquiries with third-party verification servicer.
  • Respond timely to counselor requests for pending items such as updating student award packages and verification material.
  • Complete related reports on a daily, weekly, or as-needed basis including: 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.
  • Maintain the financial management system (Banner) updated with accurate document requirements to reflect current status after processing forms.
  • Communicate 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.
  • Assist with awarding of financial aid packages for the fall, spring, and summer semesters.
  • Originate federal Direct Loans, including PLUS loans.
  • Certify private alternative loans and communicate with lenders to resolve issues.
  • Correspond with external stakeholders and lenders in a concise and professional manner.
  • Handle sensitive and confidential information with discretion.
  • Monitor accounts for over-awards or overlapping loan periods and complete related outreach.
  • Identify students who can be offered a prorated loan for the final term of study.
  • Ensure loans are correctly posted in the financial management system (Banner) under the correct SAY code, BBAY code, budget group, and packaging group.
  • Remain current on collaborative dashboards for PLUS loan or private loans and update the account with a comment.
  • Participate in the annual Agency Risk Management and Internal Control Standards evaluation process.
  • Collaborate 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 overawards 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%)
  • Listen to and anticipate staff and student needs.
  • Respond to inquiries from colleagues in an accurate and timely manner.
  • Maintain a solutions-driven outlook to resolve an inquiry, knowing that it impacts a student’s enrollment, retention, and success.
  • Work with other departments or areas outside of Student Financial Services as needed to support the financial aid operational needs of the University.
• WorkFlow Management (15%)
  • Independently plan, organize, and prioritize work to meet scheduled deadlines.
  • Inform supervisor when assigned reports are complete.
  • Ensure accuracy and timely processing of all applications and student requests.
  • Manage documents in the ImageNow workflow queue.
• Other Duties (10%)
  • Serve on department committees (e.g., Satisfactory Academic Progress, Professional Judgment) and workgroups as necessary.
  • Maintain up-to-date knowledge of federal, state, and institutional regulations and policies.
  • Supplement formal office training by seeking information independently.
  • Attend NASFAA, VASFAA, or Department of Education training as assigned, in addition to staff training.
  • Process special projects and reports including: Secondary citizenship checks with DHS, Emergency relief fund applications, Study abroad/consortium agreements, Co-op processing, and Computer expense/budget adjustment requests.
  • Provide support in other areas during peak season, such as scholarship processing, application review, or loan processing to meet the needs of the department.
  • Prepare outgoing mailings as required.
  • Other duties as required by Financial Aid and Scholarships leadership.

Qualifications

• Minimum Qualifications
  • High school diploma or GED.
  • Strong organization and time management skills.
  • Displays a strong attention to detail.
  • Experience in a high-volume, customer-oriented environment.
  • Self-motivated individual with the ability to excel within a complex, high-volume operation with a high degree of accuracy.
  • Ability to work cooperatively with a wide range of diverse constituents and colleagues.
  • Ability to communicate effectively, in writing and verbally, with constituents of the University.
  • Ability to understand the relationship between the Student Financial Services units.
  • Demonstrated ability to work in and foster an environment of respect, professionalism and civility with a population of faculty, staff, and students from all backgrounds and experiences, or a commitment to do so as a staff member at VCU.
• Preferred Qualifications
  • Bachelor’s degree in progress or completed.
  • Experience with major areas of higher education financial aid business process and operations.
  • Experience using student information systems such as Banner, FPP, COD, NSLDS, ElmSelect software, and Perceptive Content.
  • Demonstrated experience supporting office projects toward successful and timely resolutions to drive student enrollment, retention, and success.

Benefits

• Comprehensive health benefits.
• Paid annual and holiday leave.
• Generous tuition benefits.
• Retirement planning and savings options, including tax-deferred annuity and cash match programs.
• Employee discounts.
• Well-being resources.
• Abundant opportunities for career development and advancement.

Pay

Salary range: Up to $40,000

Schedule

• FLSA Exemption Status: Non-Exempt
• Hours per Week: 40
• Flexible Work Arrangement: Hybrid (remote work optional up to 40% of the week)