Loan Operations Specialist
4 weeks ago
We are seeking a highly skilled Loan Operations Specialist to join our team at the Commonwealth of Virginia. The successful candidate will be responsible for maintaining the daily operations of the Federal Direct Student Loan Program (FDSLP), including electronic transmission and retrieval of files to and from the Banner system and the U.S. Department of Education. The ideal candidate will have some knowledge of U.S. Department of Education Federal Student Financial Aid programs, policies, procedures, and laws that govern the programs. Additionally, they will have excellent organizational skills, attention to detail, and the ability to communicate effectively with students and other constituencies.
Key Responsibilities:
Maintain the loan origination process, extract files, ftp, printing, and downloading promissory notes, adjustments/changes, and monthly reconciliation.
Maintain current information regarding FDSLP loan servicer rules/guidelines, Banner, and COD on-line web upgrades and software changes.
Make recommendations to the administrative staff regarding discrepancies and make recommendations for prevention of errors, which lead to liabilities for the institution and the student.
Serve as one of the University's essential personnel in emergency or critical situations as deemed necessary by the supervisor.
Requirements:
Some knowledge of U.S. Department of Education Federal Student Financial Aid programs, policies, procedures, and laws that govern the programs.
Some knowledge of financial aid programs and federal regulations, to include ability to make decisions concerning financial aid awards.
Some knowledge of Private Loan Programs, policies, procedures, and laws that govern the various lending institutions.
Excellent organizational skills, to include attention to detail.
Excellent oral and written communication skills with the ability to develop and deliver effective training in processing functions.
Demonstrated ability to perform data downloads into automated financial information systems and to research technical issues related to transmission of data to various constituencies.
Demonstrated ability to solve issues in a service environment, and to provide individualized assistance appropriate to meet specific client needs, and serve as an effective team player in a complex processing and intensive public contact environment.
Demonstrated ability to master and adapt quickly to new software and automated internet software systems.
Demonstrated ability to coordinate multiple projects and to maintain service in a high volume, intense public, processing environment.
Demonstrated ability to analyze and interpret complex program regulations and to articulate them to students and other constituencies.
Demonstrated ability to read, understand, and explain orally and in writing complex regulations.
Demonstrated ability to provide individualized assistance and serve the needs of clients, including irate clients.
Demonstrated ability to provide excellent customer service.
Preferred Qualifications:
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