Financial Specialist 3
Classification # C1418
Pay Level 12
Purpose of Classification:
The Financial Specialist 3 is responsible, within established rules, regulations, and policy guidelines, the effective maintenance of complex institutional and student accounts by researching, managing, reconciling, monitoring, and resolving issues related to account transactions. Work is completed using professional decision-making, with a high level of autonomy. Positions in this classification process cash and electronic transactions, coordinate the collection account process, generate weekly refunds, and performs a variety of daily and weekly functions. They work directly with staff and students in person, by phone, and by email.
Financial Specialist 3 positions are distinguished from Financial Specialist 2 positions by a high level of autonomy and coordination responsibilities. They have a high level of student interaction and primarily work in Accounts Receivable.
Financial Specialist 3 positions are distinguished from Accountant Trainee and Accountant positions by having limited College budgetary/fiscal responsibilities, limited grant responsibilities, and no investment management responsibilities.
Additionally, Accountant Trainee and the Account positions require a bachelor’s degree whereas Financial Specialist 3 positions require only an Associate’s degree.
Work is performed in accordance with the College’s mission, vision, and core values.
Essential Functions:
Provide excellent customer service by communicating with students and staff by telephone and email regarding student accounts and related issues. Understand student’s issues and be able to refer students to appropriate departments for issues not pertaining to Bursar functions.
Problem solve and manage sensitive information with appropriate awareness of FERPA (Family Educational Rights and Privacy Act) standards; maintain confidentiality and sensitivity to the privacy needs of students.
Using a high degree of confidentiality, receive payments and charges by identifying transactions from daily banking report, locate backup, and process payments. Ensures payments are processed correctly. Process departmental charges, payments, and ICOs. Process scholarship payments, student payments, institution payments, and intercompany payments. Identify payor and payee and determine the correct processing information. Provide support to students and departments regarding the credit card processing system. Assist students with online payment problems. Verify non-student credit card transactions for departments. Process and troubleshoot transactions from integrated and nonintegrated systems. Process Veterans Administration requests, check requests, and collection company requests. Communicate with Financial Aid staff as needed. Reconcile daily cashiers’ sessions and bank revenue recap with physical cash count and generate daily deposits. Using independent professional decisions, research and resolve billing or payment problems. Reconcile accounts by preparing and posting journal entries. Compile, analyze, and prepare reports of revenue and receivables.
Process batch transactions by utilizing reports generated by desktop and cloud-based platforms to generate transactions to be loaded into Banner. Utilize reports to reconcile mass transactions, identify errors and make corrections. Use reporting systems, such as Argos, to generate population selections and reconcile batch transactions to source documentation, analyze, and review transactional data necessary to generate complete and accurate batch transaction files. Process and troubleshoot transactions from integrated and nonintegrated systems. Generate data files with required formatting to process mass loaded transactions. Integrate data from multiple report sources for the purposes of account analysis, transaction generation and reconciliation. Convert data from multiple formats received. Analyze, reconcile, and balance account details using established internal controls; review account documents and financial transactions, and resolve related issues with the appropriate administrative staff or manager when necessary. Run daily systems (Banner) processing; and adjust as dictated by date and term schedule and through knowledge of what function each job performs and parameter sets. Be able to identify errors, translate output reports and troubleshoot solutions.
Process weekly refunds; integrate data from multiple report sources (Banner, Excel, Touchnet and Argos) during process. Identify exclusions and spot nonrefundable balances and identify trends that may indicate problems. Review and analyze refund reports to identify refund amounts needed to be refunded back to credit card, process those refunds, and reconcile against source data and cashier sessions. Contact students with BankMobile (or similar system) refund returns. Identify Title IV Funds and notify College Finance on funds that need to be returned to Department of Education. Review BankMobile NSF Returns. Identify Title IV Funds and notify College Finance on funds that need to be returned to Department of Education. Contact students and facilitate reissuance of checks when possible. Coordinate with Accounts Payable, Veterans Services and Sponsored Accounts to accurately process refunds to vendors and funder. Work with Bursar to adapt existing procedures to accommodate special circumstances as they arise to distribute funds to students. Represent Bursar at Refund Request Committee meetings. Assist students with application process and documentation, manage open disputes, calculate refunds of tuition and fees, write off or reverse charges, check for waivers 3rd parties or scholarships, coordinate with Financial Aid on R2T4 (or similar system).
Coordinate the college’s collection process. Identify students based on specified criteria to generate monthly pre-collect letter files and monthly collection files. Perform filtering analysis necessary to identify and correct issues and problems with student accounts and correct before adding accounts to collection queue. Process collection payments by review reports, creating batch payment files, releasing holds and updating delinquency codes. Identify and analyze balance discrepancies and write off remaining balances as warranted. Process NSF payments as reported in collection payment file. Reconcile student accounts and submit check requests to Accounts Payable. Respond to documentation requests from collection companies. Review Accounts for anomalies/errors, research, and document disputes. Manage and maintain active list of students who are being excluded through reports so these students can register, drop classes, and avoid being dropped from classes. Communicate with students about delinquent accounts. Review and, as necessary, document disputes. Facilitate payments and process student exceptions so that balance does not interfere with registration.
Demonstrate Lane’s core value of social justice by ensuring equity and inclusion skills such as respect, inclusiveness, reflecting, valuing of cultural and personal differences, are the basis of employee and student interpersonal communications and relationships, and are applied to all position responsibilities. Duties are carried out respectfully and inclusively, regardless of age, disability, gender, gender identity or expression, social class, marital status, national origin, race, ethnicity, religion, sexual orientation, veteran’s status, nationality, language, origin, or employment status.
Work is performed within the applicable College and departmental policies, procedures, and priorities.
Does related work as required.
Minimum Qualifications:
An Associate’s degree in accounting, finance, or related field is required. Three (3) years of experience in fund accounting, accounts receivable, accounts payable, billing, payroll or related field is required. Some positions in this class require that the employee be bondable.
Equivalent combination of training and experience will be considered qualifying.
Knowledge, Skills and Abilities:
Knowledge of and skill in: applying generally accepted account management principles and procedures in accounts receivable, collections, or payroll; and skill in fund accounting; and ability to interpret and apply federal, state, and other agencies’ regulations; College fiscal policies and procedures; general office procedures and practices; and ability to create systems and develop analytical tools in maintaining automated accounts systems; knowledge of and ability to apply team principles and practices.
Skill in: financial analysis and report preparation; managing complicated spreadsheets, downloads and extracts; problem solving; Microsoft Excel at intermediate to advance level, and demonstrated ability to learn advanced functionality.
Ability to: utilize complex internal & external software systems; analyze and make decisions on complex account problems; maintain and ensure confidentiality of all financial and personal information; keep accurate financial records and provide an audit trail; understand complex mathematical calculations and communicate their impact to students, colleagues, and sponsors; understand how automated financial systems affect individual accounts and records; use spreadsheet, database and word processing software and automated accounting/billing systems; remain current with software applications; analyze data and develop recommendations regarding processes or procedures; initiate and implement more efficient procedures; work under pressure and meet deadlines while maintaining accuracy; work independently and make decisions; organize and prioritize work; work within a team environment and to carry out individual assignments with no direct supervision; work collaboratively as a member of a team with active and appropriate participation; establish and maintain effective working relationships with students, staff, administrators, vendors, other agency staff and the general public; resolve conflicts and negotiate acceptable resolutions; explain established policy and procedures using judgment and diplomacy; represent the College in a professional manner in person and on the phone; train employees and establish work practices; work collaboratively with a diverse and changing population within the college and external agencies; attend meetings and trainings as required; and work safely in operating equipment and/or performing duties to prevent injury to self and others.
Physical Demands:
While performing the essential functions of these positions, employees in this classification may be required to sit, stand, keyboard, write, listen, and speak for extended periods of time. Work involves concentrated mental and visual attention for sustained periods of time. Work may require transporting materials up to 25 pounds.
Working Conditions:
Positions in this classification work indoors. These positions are exposed to usual office working conditions such as office noises and interruptions, such as printers, telephones, and visitors. These positions may work with individuals who may be hostile or abusive. Some positions in this classification require that the employee be bondable.
Tools and Equipment Used:
In performing the essential functions of the position, the following tools and equipment may be used: laptop and desktop computers, various computer hardware and software, cash counting tools, copiers, printers, fax machine, telephone and other related tools and equipment.
Supervision:
Works under the general direction of a manager who sets forth broad working policies and program objectives. Positions in this class are responsible for establishing their own work procedures and priorities within broad guidelines. Many job assignments are self-generated based on knowledge of work processes and results that must be achieved. Work is performed independently based on previous knowledge and professional judgment according to local, state and federal regulations, applicable laws, and college policies. Work results are evaluated periodically by manager to assess results obtained and for conformance to overall program goals and professional standards.
Positions in this classification may have the responsibility to assign task, provide priorities, train and monitor the work of other staff. Some positions may plan, assign, approve, instruct, set priorities and schedule the work of staff in the absence of the supervisor. Positions may also have substantial input into performance evaluations and hiring decisions.
11/01/2021