Accounts Recievable Collection / Loan Specialist

 

Primary Role

Responsible for maintaining, reconciling, and collecting all loan funds and past due accounts. Acts as primary liaison with third party loan servicer and collection agencies.

Typical Duties and Responsibilities

  1. Maintains all student loan activity on general ledger and subsidiary records including loan balances, payments, deferral and new loans and advances. Conducts exit interviews.
  2. Initiates collection procedures based on loan type and regulations for all loan funds. Responsible for collecting all accounts receivable 90+ days past due. Makes collection calls and negotiates repayment terms. Reviews and recommends accounts to be charged off. Prepares accounts for litigation and corresponds with legal counsel and outside collection agencies.
  3. Responsible for maintaining all College vault transactions; serves as back-up cashier, whose duties include distributing cash advances, reimbursements, deposits and check cashing.
  4. Prepare/research and reconcile various internal and external reports to the general ledger. Prepares Loan Fund audit pages.
  5. Performs related duties as assigned.

Supervision Required/Given

Works with considerable independence, exercising independent judgment and discretion. Must work cooperatively and collaboratively with diverse customer base.

Position Qualifications

  1. Knowledge and capabilities normally acquired through two years of college or business school training in basic accounting. Collection experience preferred.
  2. Two years experience sufficient to demonstrate PC software proficiency with the following: PC software applications in Word, Excel and accounting/bookkeeping; cash handling and management; basic accounting concepts; customer service problem resolution skills.