Experience
5 yrs required
Location
Syracuse, NY, United States
Posted on
Nov 08, 2022
Profile
Compliance Officer
The candidate will monitor federal notices of proposed rulemaking for financial aid and consumer financial protection. Review and interpret rules and prepare impact analysis of proposed regulations. Monitor communication from the U.S. Department of Education, NASFAA, EASFAA, NYSFAAA, FINAID-L, and other external governing bodies and professional publications for changes in financial aid regulations/policies. Disseminate accurate and timely information as it related to regulatory changes. Ensure appropriate staff and any units outside the Offices of Financial Aid impacted by these changes are informed and provide consulting services and training as requested by these units. Collaborate to develop, conduct and evaluate financial aid compliance training programs and materials such as financial aid fundamentals, changes to federal and state regulations, and changes to or reminders of office procedure. Provide subject matter expertise for Title IV related training. Collaborate to conduct regular assessment activities to ensure mastery of required knowledge and skills for existing and new staff. Provide guidance and support in the area of regulatory compliance. Act as a resource when clarification is needed. Research federal financial aid compliance issues and questions utilizing appropriate resources. Manage ongoing efforts to ensure that the federal, state and institutional aid compliance rules, and the administration of aid within those rules, are documented and up to date. Review key university catalogs, handbooks and other documents to ensure they meet compliance standards. Develop and ensure federally compliant content for the financial aid MySlice portals and websites at all 3 campuses and assist in the coordination of the relevancy, usefulness, and accuracy of financial aid information on other SU websites. Review and approve new financial aid communications to ensure Title IV compliance. Re-review communications annually to assess compliance with continually changing requirements. Evaluate policies and procedures for compliance and recommend adjustments when needed. Follow up with financial aid staff to ensure that they implement these changes in an acceptable timeframe. Document and communicate university policies and procedures for protecting sensitive information in accordance with federal regulations and the university’s information security program. Establish standards and implement procedures to monitor, detect, prevent, and correct noncompliance with applicable rules and regulations. Identify potential areas of compliance vulnerability and risk. Work with affected units to develop and implement corrective action plans for resolution of problematic issues, and provide general guidance on how to avoid or deal with similar situations in the future. Act as a resource for the development and review of the department’s policies and procedures. Develop and implement a compliance calendar to provide appropriate oversight and control of enterprise-wide compliance activities. Conduct periodic evaluations of compliance with federal Title IV laws and regulations using resource materials such as the National Association of Student Financial Aid Administrators (NASFAA) Self-Evaluation Guide. Complete an annual review of institutional, federal, state, and private student financial aid records being held. Identify potential areas of compliance vulnerability and risk. Develop and implement corrective action plans for resolution of issues and provide guidance on how to avoid similar situations in the future. Track the completion of corrective action as it relates to incomplete or revised policies and procedures. Develop and maintains effective working relationships with internal and external auditors as relates to federal and state financial aid rules and regulations. Coordinate, oversee, and follow up on all federal compliance audits and/or monitoring visits. Provides responses as required to auditors and audit findings. Ensure **MEMBERS ONLY**SIGN UP NOW***. remains eligible to participate in the federal and state financial aid programs through the accurate and timely submission of official documents, including but not limited to: recertification and program participation agreements and updates. Serve as the financial aid liaison for the Institute’s annual federal A-133 audit, providing coordination and assistance on follow-up reporting . Coordinate the timely development and implementation of any needed corrective action plan based on audits or review. Collaborate with Assistant Director of Accounting to ensure the accurate and timely submission of the annual federal application and report (FISAP). Collaborate with the university’s Chief Compliance Officer to upload the semi-annual foreign gift reporting which is required for continued eligibility for federal student financial assistance programs. Bachelor’s degree is required. Master’s degree or law degree is preferred. Should have 5+ years of federal financial aid related experience. Financial aid compliance experience is preferred.
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