Senior Director of Student Financial Services

LIM College – Where Business Meets Fashion is currently seeking candidates for the position of Senior Director of Student Financial Services. GENERAL DESCRIPTION LIM College educates students for success in the global business of fashion and its many related industries. Located in midtown Manhattan - the fashion capital of the world - and devoted exclusively to the study of business and fashion, LIM College fosters a unique connection between real-world experience and academic study in business principles. Undergraduate students may major in Fashion Merchandising, International Business, Management, Marketing or Visual Merchandising. At the graduate level, LIM College offers an MPS programs in Fashion Marketing, Fashion Merchandising & Retail Management, Global Fashion Supply Chain Management, and Visual Merchandising. The Senior Director of Student Financial Services, under the general direction of the Vice President for Student Finance provides leadership, supervision, and direction for the delivery and coordination of federal, state and institutional student financial aid programs including Federal Pell Grants, NY State TAP Grants, Federal Campus-Based Aid Programs, Federal Direct Loans, LIM College Scholarships and Grant Aid, and the College's Student Loan Debt Management & Default Prevention Program. The Senior Director also coordinates and oversees related audits, compliance reviews, account reconciliations, financial literacy outreach, and works to ensure institutional compliance with relevant regulations and statutes. ESSENTIAL FUNCTIONS AND BASIC DUTIES
  • Coordinating, directing, managing, and supervising the delivery of all student financial aid processes for awarding grants, student loans, parent loans, and scholarships as well as the maintenance of student financial aid records.
  • Leading the College's Debt Management & Default Prevention program by providing guidance and leadership to staff.Working to maintain optimally low Cohort Default Rates (CDRs).
  • Coordinating the operational and compliance aspects, within regulations and guidelines, of financial assistance programs such as: Federal Work Study (FWS), Federal Direct Loans, Scholarships, Federal Pell Grants, Federal Supplemental Educational Opportunity Grants (FSEOG), NY State TAP, Veterans Education Benefits, and other available funds. This includes timely payment and reconciliation of all funds in accordance with regulatory requirements.
  • Overseeing all administrative functions of the Student Financial Services Office by supervising, providing ongoing professional development opportunities, training, and evaluation of all full-time and part-time employees.
  • Monitoring and maintaining the appropriate separation of duties and checks and balances between the financial aid and student accounts functional areas of the department.
  • Coordinating financial aid and student accounts operations with other appropriate college units, including, but not limited to, Admissions, Registrar, Accounting, Academic Advising, Academic Affairs, Student Affairs, and Counseling & Accessibility Services.
  • Preparing a monthly Student Financial Services data report to provide important departmental metrics that track both financial aid and student accounts activity and that can be used to inform decision-making at a variety of levels.As necessary, prepare other related reports and correspondence including reports for the President's Cabinet and Board of Directors.
  • Under the direction and guidance of the Vice President for Student Finance, interprets and applies federal laws and regulations, state and local regulations, applicable contractual requirements, and college policies relating to the delivery of student financial aid and management of student accounts.Where appropriate, recommends and updates financial aid and student accounts policies to ensure compliance applicable regulations.
  • Researching, analyzing, developing and recommending departmental processes and procedures to increase/improve operational efficiency and to ensure proper controls and regulatory compliance.
  • Ensuring that student billing of tuition is done timely and is easily understood by students and parents.
  • Ensuring that all refunds, repayments, and return of Title IV and other aid for all withdrawing federal aid recipients are accomplished in accordance with all Federal, State, and College guidelines.
  • Overseeing and coordinating the Office of Student Financial Services' response to program reviews and annual audits. In addition, ensures that the College's Audits are filed timely with the U.S. Department of Education.
  • Developing and directing financial aid strategies within the framework of federal and state regulations that are consistent with the enrollment management objectives of the College and by administering financial aid, scholarships and student employment programs that support student recruitment and retention goals.
  • Ensuring that PowerFaids is used effectively and that processes and product enhancements are developed which are technologically up-to-date and user/student friendly;
  • Contributing to student satisfaction through delivery of quality customer service in all aspects of the administration of financial aid, student accounts, and student employment services.
  • Ensuring that students are informed about their eligibility for financial aid by developing and directing a system for collecting and evaluating applications, and for the timely and effective awarding of all types of financial aid.
  • Ensuring that the Student Financial Service portion of the College's website is continually reviewed and updated with all pertinent information.
  • Developing and implementing Student Financial Services workshops and outreach programs for students/parents.
  • Developing student costs of attendance (individual student budgets) including tuition, books, fees, room and board, etc.
  • Developing updates and presenting financial aid information through the use of brochures, literature, and workshops directed toward students, parents and community groups.
  • Participating in College committees as required or assigned.
  • Attending and participating in professional groups, seminars and/or courses, and providing opportunities for Student Financial Services staff development.
  • Resolving and/or assisting in the resolution of problems and/or complaints and initiating corrective action as appropriate.
  • Working in a way that is consistent with, promotes, and reinforces the College's Core Values.
  • Performing related duties as required or assigned.
REQUIREMENTS: The person selected will have the following qualifications: Minimum Required Qualifications:
  • Bachelor's Degree
  • Proficiency with Financial Aid Management (FAM) software and standard office applications
  • Knowledge of federal and state financial aid laws and regulations and Higher Education financial management and college planning
  • Minimum of eight (8) years of related work experience including progressive financial aid and/or student accounts management and supervisory work experience
  • Prior experience as an Associate Director, Director of Financial Aid or in a cross-functional Student Financial Services department is required
Preferred Qualifications:
  • Master's Degree
  • Proficiency with PowerFaids software is a plus