Financial Aid & Scholarship Analyst
Job Description
The Financial Aid and Scholarships Analyst is responsible for administering, analyzing, and overseeing the financial operations of scholarship programs, external scholarships, and financial aid. This position ensures that funds are accurately awarded, approved, disbursed and reconciled in compliance with institutional, state, and federal regulations. The analyst will work closely with financial aid directors and accounting teams to review program effectiveness, approve disbursements, and maintain accurate records of all financial transactions.
Duties & Responsibilities
- Program Analysis and Fund Management:
- Analyze financial aid and scholarship programs, ensuring compliance with internal policies and regulatory standards (e.g., Title IV).
- Review, approve, and authorize fund disbursements, ensuring accuracy and timeliness.
- Monitor fund budgets to ensure appropriate awarding and spending of scholarship funds.
- Work closely with external scholarship organizations and internal stakeholders (e.g., accounting, financial aid teams) to ensure funds are utilized appropriately.
- Data Analysis and Reporting:
- Perform data analysis and generate reports related to program performance, fund allocation, and financial discrepancies.
- Prepare detailed financial reconciliations, including account balances, fund distribution, and disbursement reconciliations.
- Identify trends, discrepancies, and potential areas for improvement in financial aid and scholarship fund management.
- Financial Reconciliation and Auditing:
- Conduct regular audits and reconciliations of financial transactions related to student accounts, scholarship programs, and financial aid awards.
- Ensure accuracy in financial reporting, including preparation of 1098-T forms, invoices, and other necessary documentation.
- Support financial aid accounts year-end and month-end financial closings with thorough reconciliation processes.
- Systems and Process Improvement:
- Utilize various financial and reporting software (e.g., Banner, SQL, Argos (future SIS Workday)) to analyze and streamline operations.
- Recommend and implement process improvements to enhance the efficiency and accuracy of fund disbursement and reconciliation.
- Collaborate with IT and business analysts to maintain and improve scholarship management systems.
- Stakeholder Collaboration:
- Partner with the CNM Foundation, external donors, and internal departments to ensure accurate awarding and reconciliation of funds.
- Serve as the liaison between financial aid, scholarships, and accounting teams to resolve discrepancies and ensure smooth financial operations.
- Training and Compliance:
- Stay updated on changes in financial aid regulations and ensure all processes adhere to compliance standards.
- Provide training and guidance to financial aid staff and other stakeholders on proper fund management, disbursement procedures, and reconciliation practices.
- Other Responsibilities:
- Perform additional duties as assigned to support the overall objectives of the financial aid and scholarship programs.
- Participate in strategic projects and initiatives as part of the financial aid team.
Minimum Qualifications:
- Bachelor’s degree in Finance, Accounting, Business Administration, Education, or a related field.
- Three (3) years of experience in financial aid, accounting, or scholarship fund management.
- Knowledge of financial aid regulations, accounting principles, and reconciliation practices.
- Experience with financial reporting systems (e.g., Banner, Argos, SQL, Workday).
- OR
- Associate's degree in Finance, Accounting, Business Administration, or a related field.
- Six (6) years of experience in financial aid, accounting, or scholarship fund management.
- Knowledge of financial aid regulations, accounting principles, and reconciliation practices.
- Experience with financial reporting systems (e.g., Banner, Argos, SQL, Workday).
- Best Consideration Date:1/3/2025
- Department: Financial Aid and Scholarships
EEO STATEMENT:
As an EEO employer, Central New Mexico Community College will not discriminate in our employment practices based on an applicant’s race, ethnicity, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, serious medical condition or status as a protected veteran or spousal affiliation. Central New Mexico Community College hires only U.S. citizens and individuals lawfully authorized to work in the U.S.
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