Financial Wellness and Compliance Coordinator

General Statement of Job

The Financial Wellness and Compliance Coordinator works in the Financial Aid Office to equip students with the knowledge and skills to manage their finances effectively both during and after their time in higher education. This position also assists students with loan repayment issues and eligibility requirements. The coordinator conducts exit counseling, assists with TEACH Grant administration, and other compliance functions within the office. Coordinator duties also include managing the Satisfactory Academic Progress process.

Specific Duties and Responsibilities

Essential Duties:

Counsel borrowers on consequences of defaulting and work with borrowers to rehabilitate loans as a default prevention initiative. Assemble and perform regular, consistent outreach to delinquent borrowers. Establish communication programs and mechanism to assist in keeping default rates within acceptable levels established by the United States Department of Education to continue administration of federal funds.

Develop, implement, and evaluate financial literacy programs for students, focusing on areas like budgeting, debt management, and responsible borrowing (tailored to student needs).

Develop and conduct specialized outreach efforts to encourage awareness and readiness in the acceptance and utilization of financial aid and resources by promoting financial aid literacy and resources during relevant University events and activities, this includes community events that may require evening and weekend attendance.

Track and analyze student outcomes related to financial literacy programs and provide reports on program effectiveness.

Conduct Satisfactory Academic Progress counseling with students and process Financial Aid Suspension Appeals. Serve as Chair of the Financial Aid Suspension Appeal committee and coordinate appeal meetings with committee each semester.

Track exit counseling for borrowers receiving Federal Direct Loans and administer exit counseling when needed.

Advise students inquiring about the partial or total withdrawal of courses, and the impact such withdrawal may have on future financial aid eligibility.

Counsel groups of students who qualify for loan forgiveness options based on desired profession and advise how to complete necessary documents.

Provide education and outreach to students regarding Federal TEACH Grant program and work closely with MSSU Teacher Education department to coordinate student information and make award offers to students. Oversee initial and subsequent counseling for students with TEACH Grant and conduct exit counseling sessions for TEACH Grant recipients.

Monitor withdrawals, reinstatements and consortium enrollment for National Student Loan Data System submissions to ensure loan data is accurate for enrollment and repayment purposes. Process in-school loan deferment forms for borrowers when needed.

Monitor compliance, federal requirements and state and national best practices as they relate to enrollment reporting and default prevention and provide policy guidance to director.

Act as an integral part of the internal and external audit compliance teams.

Serves as integral member of Gainful Employment/Financial Value Transparency Workgroup.

Perform other related duties as required.

Education, Experience, and Licenses

Bachelor's degree from an accredited four-year college or university is required.

Two years related experience and/or training preferred; or an equivalent combination of education and experience.

Demonstrated knowledge of federal financial aid regulations preferred. Experience in handling multiple tasks and a customer service orientation with a commitment to higher education and working with students a plus. Willingness to travel occasionally as required for presentations, meetings, and training workshops.

Knowledge, Skills, and Abilities

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Knowledge or experience with auditing and compliance as it pertains to financial literacy and default management.
• Excellent organizational, verbal and written communication skills.
• Ability to balance an analytical mind and a compassionate heart.
• Ability to work collaboratively as part of a team environment.
• Ability to use highly technical computer applications, such as Banner, Microsoft Office (Word, Excel, Access, PowerPoint), and other web-based applications to perform office duties.
• Ability to maintain highest level of confidentiality in accordance with the Family Educational Rights and Privacy Act (FERPA).