Sr. Manager - Financial Processing na MOHELA

POSITION SUMMARY:

This Senior Manager – Financial Processing is responsible for creating, improving, and maintaining financial and internal controls and required financial record keeping of the USDS Loan Portfolio. Responsibilities include ensuring all daily tasks related to borrower payments and account adjustments are performed as requested or required to ensure compliance and are completed in a timely manner. Works closely with the U.S. Department of Education, Office of Federal Student Aid (FSA) financial managers and staff in support of ensuring proper servicing and financial reporting are in place. A strong understanding of FSA’s financial requirements, servicing system activity and transactions, general ledger accounting and reporting requirements, and loan servicing flows is imperative.  This position also requires federal financial audit participation and federal controls audit participation. 

This position is responsible for the daily function, management, and oversight of the MOHELA General Ledger System (SAGE 500).  The position is responsible for compliance with the USDS federal financial technical requirements and federal A-123 control regulations and requirements. 

This position will interact with the U.S. Department of Education financial management, MOHELA Management and other USDS federal loan servicers.  A high degree of interpersonal communication is required, and excellent written communication skills are required.  

Essential Duties and Responsibilities:

1. Financial Account and Transaction Management, Processing, and Reporting – Manage the financial accounts and transactions including but not limited to borrower payments, financial payment lockbox management and monitoring, third party payment services, financial refunds, financial reallocations, payment suspense account research and application, financial write off/up transactions, payment research and resolutions, payment cancellations, ACH/Auto Debit payments, ACH/Auto Debit borrower application processing, and multiple financial payment, transaction, and activity queues. Manage the USDS Financial Reporting and Reconciliation processes, activities, transaction posting, reporting, and reconciliation activities.  Responsible for complying with and meeting the financial reporting requirements and reporting deadlines as defined in the USDS Financial Technical Requirements.  Responsible for the financial data file generation, transmission, and receipt by the U.S. Department of Education, Financial Management System (FMS). Responsible for processing financial and non-financial transactions and the resulting reporting to FMS.
2. Supervision of Staff Training and Development – Provide direction to and supervise financial processing management and staff to include assignment of work to managers and supervisors, assignment of tasks by managers and supervisors to financial staff, monitoring quantity and quality of work performed, and coordination of financial activities and processes with other MOHELA USDS operational departments and Senior Managers. Establish performance and productivity standards.  Conduct performance reviews, counsel staff, and maintain appropriate documentation regarding employee performance.  Knowledge of management functions, policies and procedures is required as they relate to the operation of the USDS contract and federal loan program.  Supervise staff carrying out fiscal functions.  Manages and coordinates the activities of personnel engaged in the maintenance and control of accounts.  Manages, monitors, and direct resources to meet Service Level Agreement (SLA) performance metrics.
3. Audit Responsibilities and Participation – Provide support to operational departments with internal audits, external audits, and developing required corrective action plans.  Prepare responses to audit questions and findings and implement appropriate changes.  Review and submit the monthly and period-term activation PBC Audit Download reconciliation.  Resolve variances and adjust the appropriate PBC files, as necessary.  Actively participate in the review and approval of financial activity procedures, financial process flow charts, risk matrices, and any other documentation required to be submitted to FSA or external audit firms.
4. General Ledger Maintenance – Ability to maintain and meet financial reporting requirements and schedules for General Ledger accounts and transactions for the Direct Loan portfolio. Ensure compliance with USDS Financial Technical Requirements. You must also understand how cash and non-cash transactions affect the General Ledger. Manage the daily payment receipts and account posting processes in support of the Direct Loan portfolio.
5. Account Adjustments – Manage, monitor, and direct the daily financial account and loan adjustment requests received from or required by FSA. Manage, monitor, and direct the daily financial account and loan adjustments that are to support loan servicing activities, borrower inquiries and requests, incoming financial transactions, and account and loan transfers. Execute and assign responsibility for the use of high-level security transactions in accordance with departmental procedures and regulatory requirements, and ensure account, loan, and general ledger transactions meet the financial balancing requirements necessary for federal reporting requirements. Complete and validate all account adjustments as requested or required to assure compliance. Complete all requests in a timely manner
6. TMS Tasks, Queues and Customer Service Requests – Review and management of financial and applicable Task Management System requests and queue tasks for financial account adjustments, revisions, and pending transactions on a daily schedule. Work closely with Customer Service representatives, loan processing departments, and federal division management to ensure borrower issues are handled in a manner to provide the best service possible.
7. Quality Assurance and Compliance – Review financial tasks for accuracy, timeliness, and compliance and provide feedback to financial managers, supervisors, and agents.  Collect, review, and provide monthly accuracy statistics to management for analysis.  Identify and develop improvements and efficiencies.  Ensure compliance with federal and state financial requirements by actively reviewing and monitoring existing and new USDS contract requirements, federal requirements, and state requirements.  Coordinate and collaborate with the Compliance group to ensure outstanding issues are resolved and procedures are adjusted, as necessary.
8. Internal Control – Assist with the development and maintenance of internal controls to ensure that financial activities, processes, procedures, and tasks are monitored and have necessary controls and reporting in place. Review current procedures within the department on a regular basis to ensure a strong internal control structure is maintained. Validate USDS Financial Technical Requirements are met, and that procedures, internal controls, reports, and communication are in place to ensure compliance. 
9. Client and Customer Service – Support the relationship with the U.S. Department of Education through professional, accurate, and timely communication. Support the USDS Customer Service Contact Center with timely and accurate borrower financial information and account maintenance activities.  Ensure financial managers, supervisors, and agents are collaborative and cooperative in support of borrower service.  Ensure financial managers, supervisors, and agents have the understanding and knowledge to identify and evaluate borrower financial issues and can accurately respond to the borrower issue and inquiry.
10. System Testing and Inter-System Testing – Actively participate in testing of all financial systems necessary to manage the USDS federal loan portfolio including but not limited to the Fiserv CLASS system, MOHELA SAGE General Ledger system, MOHELA Oracle imaging system, MOHELA USDS data warehouse, data tables, and data files. Ensure required system requirements, testing scripts, and test results are documented and support financial activities and processes.  Participate effectively in Inter-System Testing (IST) by obtaining access to new systems, developing an understanding of federal systems, and providing necessary reports or information to complete IST execution. Other duties as assigned by management.

MINIMUM REQUIREMENTS

• Bachelor’s degree in accounting, finance, business, or related field preferred.  Additional equivalent experience can substitute for the degree.
• 5 years of supervisory/management experience in a financial services firm.
• 8 plus years of financial accounting/reporting and reconciliation experience
• Demonstrated strength in operational and financial analysis using manual and computerized methods. Knowledge of systems and practices is commonly utilized in the occupation of a financial services organization.
• Must be able to obtain and maintain a Department of Education 6C Security clearance
• Ability to work with and understand mathematical concepts such as probability and statistical inference
• Expert level knowledge in Microsoft Excel and at least intermediate level knowledge in Microsoft Word.
• Ability to commute and work in our Chesterfield office several times during the month
• Overnight travel several times a year