Assistant Director, Loan Manager - UMass Boston

Join the dynamic team at UMass Boston and make a difference in students' lives! With the completion of a recent reorganization focusing on innovative student support, Financial Aid Services provides career progression and professional development. UMass Boston welcomes your application for the following positions: Senior Associate Director of Operations, Associate Director of Operations, Assistant Director-Financial Aid Counselor, and Assistant Director-Loan Manager. The reorganization has also increased the staffing level in the One Stop Student Services Center and we invite you to consider joining that team as a One Stop Service Advisor. This is an exceptional chance to join a forward-thinking team dedicated to redefining the educational landscape while enjoying competitive salaries, flexible hybrid work schedules, and a supportive work environment.

Apply today and be part of their mission to transform lives through education!

Another Source's client, UMass Boston, is recruiting an Assistant Director, Loan Manager to join their team in Boston, MA. In this role, you'll play a vital role in implementing new regulations, managing program reconciliation, and ensuring compliance with federal regulations.

Offering a flexible hybrid schedule of 3 days onsite and 2 days working remotely once you get up to speed.

Here's a little about UMass Boston and the position they are recruiting for:

UMass Boston is a public research university in Boston, Massachusetts. It is the only public research university in Boston and the third-largest campus in a five-campus university system. UMass Boston is the third most diverse university in the United States. At UMass, we harness the revolutionary spirit of Massachusetts to deliver affordable, world-class education that transform lives, conduct groundbreaking research that improves our world, and create social and economic impact that shapes and energizes communities.

Learn more about the department here: Enrollment Management - UMass Boston (umb.edu)

What's in it for you:

UMass Boston offers a comprehensive compensation and benefit package including health, dental, and vision insurance; life and long-term disability insurance; generous paid time off; tuition remission; and robust retirement options. https://hr.umb.edu/benefits

The anticipated annual base salary range for this position is $66,400 - $78,000

Job Summary

The Assistant Director is responsible for all aspects of the student loan programs including, but not limited to, loan certification, payment authorization, and program reconciliations. The Assistant Director oversees student loan reconciliation with the Department of Education and the Bursar's Office. Loan programs include, but are not limited to, Federal Direct Student Loan, Federal Direct Parent Plus Loan, Perkins Loan, Mass Education Finance Authority, and other alternative loan programs. The Assistant Director works closely with the Bursar's Office to establish fund accounts and to ensure cash receipts are credited to student accounts and reconciled appropriately. The Assistant Director is also responsible for implementing new federal regulations and ensuring these regulations are communicated throughout the University community to maximize student participation. Assists the Senior Associate Director and the Executive Director of Financial Aid Services in system set-up for the loan components and new federal regulations. Coordinators annual Enterprise Legal Management system updates for Private Loan Lenders.

Essential Functions

Responsible for all aspects of the student loan programs including implementing new regulations, determining student eligibility, student certification, payment authorization, and program reconciliation with the Department of Education.
• Responsible for recommending, implementing, and monitoring procedures to ensure compliance with federal regulations and institutional policy.
• Responsible for reconciling student loan originations and disbursements with the Department of Education Student Loan Servicing Center in accordance with federal regulations.
• Serve as the campus representative of the annual Boston-Dartmouth-Lowell (BDL) Private Loan Request for Information (RFI) process to select lenders for the university's preferred lender list

• Responsible for the management of all private education loan funds including certification with lender, awarding, disbursement, and reconciliation.
• Responsible for insuring students have met federal entrance counseling requirements and completed a Federal Master Promissory Note prior to the disbursement of any federal student loan.
• Monitors the Department of Education 90 Day Warning Report and reconciles all outstanding loan activity.
• Documents all policies and procedures governing student loan programs and communicates them appropriately across campus to insure accurate dissemination of information.
• Works as a member of the Financial Aid Services team to coordinate student loan programs with other types of assistance to provide superior customer service to students and their families. Keeps financial aid staff, students, and the university community abreast of program changes, policies, and procedures.
• Acts as a liaison between student loan recipients and the Department of Education Loan Servicing Center, banks, guarantee agencies and external loan servicing centers
• Awards and adjusts financial aid packages, adhering to congressional, federal, state, and institutional policies and regulations.
• In compliance with federal, state, and institutional policy, independently awards and adjusts aid for students, taking into consideration all applicable variables.
• Maintains auditable records of student loan recipients and program expenditures, in accordance with federal regulations.
• Using a variety of report writing tools, works independently to create reports used in the fiscal management of the student loan programs.
• Represents the Student Financial Aid Services office on University committees, as assigned. Participates in meetings, workshops, and conferences to keep abreast of local, regional and national financial aid policies.
• Other duties as assigned

Minimum Qualifications

• Bachelor's degree required; master's degree preferred
• Knowledge of and experience with PeopleSoft or a similar Student Information System preferred
• Minimum of 5 years' experience in an automated financial aid office
• Applied knowledge of regulatory requirements governing the financial aid programs
• Background in counseling and fund management preferred
• Demonstrated ability to work independently and to develop, manage and implement large projects

• Excellent interpersonal, management, decision-making and organizational skills
• Willingness to work occasional evenings and weekends

Another Source works with their clients, on a retained project basis. We are committed to building inclusive candidate pools as we partner with hiring teams. Veterans, women, people of color, LGBTQIA+, and people with disabilities are encouraged to apply. As you read through the job posting and review the list of qualifications (required and/or preferred), please do not self-select out if you feel you do not meet every qualification. No one is 100% qualified. We encourage you to apply and share your story with us.

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