Job Summary
The Financial Administrative Specialist performs a variety of financial activities, which include reconciliation, planning, auditing, and reporting for the Office of Student Financial Aid.
The position is responsible for monitoring and reconciling federal, state, institutional, endowed, scholarship, grant, loan, and Federal Work-Study funds; ensuring the accuracy and integrity of financial aid financial activity; and supporting compliance with University policies and applicable federal and state requirements.
The position serves as a financial subject-matter resource within Student Financial Aid and collaborates with Budget, Business and Finance, Enrollment Management, Provost, Financial Services, Payroll, and other University departments to support sound financial stewardship, accurate reporting, and operational efficiency.
The position also analyzes financial data, develops projections and management reports, identifies discrepancies and process risks, recommends corrective action, and contributes to continuous improvement and automation of financial processes.
Responsibilities*
Financial Aid Fund Reconciliation
- Monitor, reconcile, and analyze federal, state, institutional, endowed, scholarship, grant, loan, and Federal Work-Study financial aid funds.
- Perform monthly, quarterly, annual, and ad hoc reconciliations of financial aid activity across university financial systems, the General Ledger, applicable federal systems including
- Common Origination and Disbursement (COD), state grant agencies, and other external or internal systems.
- Review financial detail, transaction activity, balances, expenditures, disbursements, receipts, and adjustments to identify discrepancies, unusual activity, errors, or potential compliance concerns.
- Research and resolve reconciliation variances in collaboration with Financial Aid, Financial Services, Budget, Business and Finance, Enrollment Management, and other campus partners.
- Review and verify journal entries, accounting classifications, chartfields, and other financial transactions for accuracy and appropriate financial aid fund accounting.
- Maintain supporting documentation and an appropriate audit trail for reconciliations and financial transactions.
- Develop and maintain reconciliation schedules, working papers, and standardized procedures to improve accuracy, consistency, and efficiency.
- Incorporate customized reports and data extracts into reconciliation and financial analysis processes.
Financial Planning
- Support financial aid activities and coordinate with appropriate University offices to ensure timely and accurate fund draws and financial activity.
- Provide financial information and analysis to leadership for strategic decisions regarding financial aid packaging, institutional aid, and program administration.
Compliance, Reporting, and Audit Support
- Monitor financial aid accounting activities for compliance with federal, state, and institutional requirements and University policies and procedures.
- Maintain awareness of regulatory and policy changes that may affect financial aid fund management, reconciliation, reporting, and accounting practices.
- Evaluate the potential financial and operational impact of changes and communicate recommended process or procedural adjustments to appropriate leadership.
- Assist with annual and periodic federal, state, institutional, and other required financial reports.
- Prepare documentation and supporting schedules for internal and external audits and respond to requests for financial aid accounting information.
- Coordinate with auditors and University departments to research questions, provide supporting documentation, and resolve identified discrepancies.
- Maintain organized and accessible documentation supporting financial transactions, reconciliations, reporting, and compliance activities.
Financial Systems, Data Integrity, Reporting, and Process Improvement
- Use University financial aid, accounting, payroll, reporting, and related systems to analyze and validate financial information.
- Develop, maintain, and improve financial reports, spreadsheets, dashboards, data extracts, and other analytical tools used to monitor financial aid funds.
- Identify opportunities to streamline manual processes, reduce duplicate work, improve data quality, and increase the efficiency of financial operations.
- Collaborate with functional and technical staff to improve system processes, reporting functionality, data validation, and financial information flow.
- Document financial processes, procedures, internal controls, and reconciliation methodologies to promote consistency and continuity.
- Support implementation and testing of new financial systems, system enhancements, reports, and process changes.
- Identify recurring reconciliation or data issues and recommend sustainable process improvements rather than relying solely on transactional corrections.
Financial Aid Program and Fund Administration
- Monitor financial aid program and fund activity to ensure deadlines, balances, transactions, and required documentation are appropriately maintained.
- Coordinate the establishment and maintenance of new financial aid programs, scholarships, grants, and other funding sources.
- Verify fund descriptions, chartfields, accounting entries, system setup, and supporting documentation.
- Coordinate with University offices to establish, modify, and maintain financial aid funds and associated financial processes.
- Monitor Federal Work-Study expenditures and other program-specific financial activity.
- Provide financial information and guidance to program coordinators and Financial Aid staff regarding fund balances, transactions, reconciliation requirements, and financial processes.
- Assist with developing and maintaining procedures for new programs, funding sources, and changes in financial aid operations.
Payroll, P-Card, Travel, and Related Financial Administration
- Monitor Federal Work-Study and other applicable payroll expenditures.
- Review biweekly and monthly time-entry activity for accuracy and coordinate resolution of discrepancies or adjustments.
- Review and monitor P-Card and travel expenditures for assigned Student Financial Aid staff and ensure appropriate documentation is maintained.
- Prepare, update, and organize receipts, supporting documentation, and related financial records.
- Assist with purchase requisitions and other financial administrative activities as assigned.
Training, Consultation, and Cross-Functional Collaboration
- Serve as a financial and reconciliation subject-matter resource for Student Financial Aid.
- Provide training, guidance, and functional direction to Financial Aid staff regarding reconciliation procedures, financial systems, fund management, and compliance requirements.
- Assist with cross-training and continuity planning to ensure critical financial processes are not dependent upon a single employee.
- Collaborate with campus partners to resolve complex financial issues and improve coordination of financial aid accounting processes.
- Provide functional direction or assign work to staff or other employees when appropriate, without necessarily having direct supervisory responsibility.
- Develop and maintain training materials, process documentation, and reference resources.
- Communicate complex financial information clearly to both financial and non-financial audiences.
- Participate in departmental projects, process-improvement initiatives, system implementations, and other strategic initiatives affecting Student Financial Aid financial operations.
Required Qualifications*
- High School Diploma or equivalent
- Three years or more years of relevant progressive professional experience
- Demonstrated experience with financial reconciliation, financial reporting, budget monitoring, or analysis.
- Demonstrated proficiency with Microsoft Office or Google Suite or any other database software, including spreadsheets and financial reporting tools.
- Strong attention to detail and demonstrated ability to analyze financial information and identify discrepancies.
- Strong written and verbal communication skills.
- Ability to work independently, exercise sound judgment, prioritize multiple deadlines, and resolve complex financial issues.
- Ability to collaborate effectively with colleagues across departments and organizational levels.
Why Work at U-M Flint?
In addition to a career filled with purpose and opportunity, The University of Michigan offers a comprehensive benefits package to help you stay well, protect yourself and your family, and plan for a secure future.
Benefits include:
- Generous time off
- A retirement plan that provides two-for-one matching contributions after 12 months of eligible service with immediate vesting.
- Many choices for comprehensive health insurance
- Life insurance
- Long-term disability coverage
- Flexible spending accounts for healthcare and dependent care expenses.
Eligibility for benefits based on your job group, your appointment percentage and the length of your appointment. Learn more about employee benefits and eligibility from the UM Human Resources Benefits and Wellness webpage.
UM-Flint offers tuition support for eligible UM-Flint staff members. In addition, UM-Flint offers dependent tuition support (DTS) for qualified dependents of faculty and staff from all UM campuses. Information can be found at: https://www.umflint.edu/hr/benefits/.
Information about our vision, mission and values can be found at: https://www.umflint.edu/chancellor/leadership-mission-vision/
Modes of Work
Hybrid
The work requirements allow both onsite and offsite work and an employee has an expected recurring onsite presence. On occasion, the employee may be required and must be available to work onsite more frequently if necessitated by unit leadership or their designee and/or the job requirements.
Positions that are eligible for hybrid or mobile/remote work mode are at the discretion of the hiring department. Work agreements are reviewed annually at a minimum and are subject to change at any time, and for any reason, throughout the course of employment. Learn more about the work modes here.
Application Deadline
Job openings are posted for a minimum of seven calendar days. The review and selection process may begin as early as the eighth day after posting. This opening may be removed from posting boards and filled any time after the minimum posting period has ended.
U-M EEO Statement
The University of Michigan is an Equal Opportunity Employer. We are committed to providing an environment of mutual respect where equal employment opportunities are available to all applicants, including protected veterans and individuals with disabilities.