Financial Aid Funds Analyst

Irvine, Orange County
Jul 01, 2014
Department: Financial Aid & Scholarships
Req No.: 2014-0227
Location: UCI Campus - Irvine

Job Summary

This position has been re-opened for further recruitment. Previous applicants need not re-apply to be considered.


Under general direction of the Senior Associate Director of Financial Aid and Scholarships, the Financial Aid Funds Analyst is responsible for managing the federal, state and university financial aid funds administered by the Office of Financial Aid and Scholarships. These funds total over $550M annually and are awarded to more than 19,000 (over 70%) student and are governed by a variety of laws, regulations and policies that the position is required to adhere to. The position is responsible for developing and producing weekly fund management reports for presentation to the Director of Financial Aid and Scholarships and the office's executive management team. The position is responsible for completing all financial reports required of the office including the annual Fiscal Operations Report and Application to Participate (FISAP) for federal funds. The position is responsible for monthly reconciliation of all funds managed. The position must also produce multi-year forecasting reports projecting fund balances and implications of proposed legislative and regulatory changes.


Salary: Annual $61,800

Work Schedule: 8-5, M-F

Career Position.

Final candidate subject to background check.

As a federal contractor, UC Irvine is required to use E-Verify to confirm the work status of individuals assigned to perform substantial work under certain federal contracts/subcontracts.

Please attach your resume.


Click here to see the Financial Aid & Scholarships website.


View Job Description for the position requirements. 

Job Description
Job Essential Function 1
Percent of Time: 65%
Responsible for monitoring all federal, state, university and outside financial aid funds administered by the Office of Financial Aid and Scholarships (OFAS).  These funds exceed $550M per fiscal year, and are governed by a variety of complex laws, regulations and policies.  These funds are awarded to over 70% (19,000+) of the student population.   Proper administration is critical to ensure the university remains eligible to receive and administer these funds and is free of audit exceptions, findings and fines.  Follows all federal, state and institutional cash management rules including those outlined in the federal  blue book  and the federal student aid handbook.
Works closely with various units under the umbrella of UCI Accounting and Fiscal Services to manage funds, and serves as office's expert in accounting issues and systems.  Performs required reconciliations between systems both on and off campus within the prescribed timeframe.  Ensures that funds are balanced according to regulations and policies.   Independently researches discrepancies and anomalies and initiates corrective actions.  In performing this duty must independently initiate and verify financial journals/fund transfers.   When necessary coordinates with OFAS Fiscal Operations Supervisor to solicit their assistance or the assistance of their staff in performing large volume transfers or other fiscal activities.  
Responsible for initiating and monitoring draw-downs of funds to ensure accounts are in-balance and initiates return of excess cash in collaboration with the Fiscal Operations Supervisor.  Ensures proper funds matching rules and regulations are followed for the administration of campus funds such as the FSEOG (Federal Supplemental Opportunity Grant) and Federal and Campus Work-Study.   Works closely with UCI Accounting and Fiscal Services to initiate transfers of funds to support the matching requirements.
Responsible for maintaining internal OFAS account table for the awarding and disbursement of financial aid funds.  This includes coordination with UCI Accounting and fiscal services to request new accounts and close obsolete accounts.   Also works closely with academic units and University Advancement to manage fund in support of scholarships, fellowships, stipends and prizes.
Responsible for coordinating with the UCI Budget Office and Office of Institutional Research regarding the University Student Aid Program (USAP) grant funding to determine over/under enrollments and resulting necessary grant funding increases/reductions.  Similarly coordinates with Budget Office and Summer Sessions to determine annual summer grant allocations and year-end increases/decreases.
Responsible for independently initiating interdepartmental funds transfers in support of special programs including Summer Bridge, Student Academic Enrichment Program (SAEP), California Alliance of Minority Participation (CAMP), Career Center, etc.  Ensures that funds are only transferred in support of eligible students and programs.
Responsible for managing all fiscal closing activities necessary to close all student aid funds in accordance with annual fiscal closing guidelines.
Job Essential Function 2
Percent of Time: 20%
Exercises own judgment and initiative to develop and prepare funds management reports to measure the level of spending and manage the student financial aid funds for maximum utilization and to meet the objectives set forth by the Director and campus leadership.  Regularly presents these to the Director and executive management team and draws attention to areas requiring attention.    
Produces multi-year financial reports with projections used by the Director, executive management team and campus administration for long-range planning and enrollment management.   Produces financial reports that illustrate  what if  scenarios proposed by the Director or campus administration.   Produces financial reports that project spending as part of the annual awarding process to ensure utilization of student financial aid funds.  Works closely with the Assistant Director for Scholarships to develop scholarship plans including multi-year funding models and projections for consideration of the campuses executive management, including the Provost and Vice Chancellor for Planning and Budget.
Responsible for reviewing and verifying financial reports produced by entities external to the OFAS to ensure that they are accurate.   In performing this function, the position must coordinate with the originating party at UCOP, U.S. Department of Education, and elsewhere to understand methodologies used to synthesize results and duplicate the results using locally available data.  Position independently coordinates with external entity to address and rectify discrepancies.
The position is responsible for completing all financial reports required of the office including the annual Fiscal Operations Report and Application to Participate (FISAP) for federal funds.  In performing this function the position must coordinate with others on campus to compile the necessary information.
Job Essential Function 3
Percent of Time: 10%
Responsible for independently developing and maintaining documentation of all activities performed including step-by-step procedures followed.   Responsible for instructing the Policy and Training unit on proper organization of all documentation developed within the OFAS policies and procedure wiki.  Coordinates with external offices and entities to ensure all policies and procedures accurately incorporate steps they must complete as part of the process.
Responsible for monitoring changes and proposed changes to rules, regulations and laws concerning the administration of financial aid funds and cash management.  Analyzes changes and proposed changes to identify inconsistencies with current policies, procedures and practices and synthesizes and presents to executive management team recommendations necessary for the OFAS to remain in compliance.
When producing and reviewing reports, keeps thorough documentation and records to provide to auditors to explain methodology followed and exceptions or special circumstances encountered while completing the respective report.
Job Essential Function 4
Percent of Time: 5%
Other tasks as assigned.
Bachelor's degree in the business administration, finance, accounting or an allied field; or an equivalent combination of education and experience.
Solid analytical and accounting skills to develop, assess, research and synthesize information from multiple sources on a broad range of student financial support and accounting issues.
Demonstrated project management experience to respond to both short and long-term projects, meeting deadlines with initiative and imagination; ability to successfully lead complex projects with a minimum supervision.
Superior written and oral communication skills to articulate complex information and issues clearly, concisely, and persuasively; written communication skills must be sufficiently advanced such that little or no further revision by others is usually required, regardless of the intended audience   e.g., other analysts, senior management, or external audiences.
Strong interpersonal skills to work harmoniously and effectively with staff at all levels in the unit and across the campus.
Ability to apply judgment and political acumen necessary to represent the Office of Financial Aid and Scholarships effectively in relations with other offices, UC campuses, UCOP and other higher education institutions and agencies.
Meticulous attention to detail and accuracy.
Highly proficient with MS Office Suite (Word, Excel) in a Windows environment.   Experienced with advanced functions in MS Excel including Pivot Tables, linked tables and worksheets, complex formula development, etc.
Knowledge of student financial aid and the financial aid regulations, policies, procedures and OFAS business rules.
Knowledge of Kuali Financial System (KFS) or other higher education accounting systems.
Will Train:
Financial Aid regulations, policies, procedures and OFAS business rules
UCI Accounting system and Kuali Financial System (KFS)
Below are general guidelines on the position's physical, mental, and environmental working conditions.
In accordance with applicable state and federal law, UCI provides reasonable accommodations for applicants with disabilities upon request. For more information, please contact Human Resources at (949) 824-5210.
Bend: Occasionally
Squat: Occasionally
Crawl: Not Applicable
Climb: Not Applicable
Kneel: Occasionally
Handle Objects: Frequently
Push/Pull: Occasionally
Reach Above Shoulder Level: Occasionally
Sit: Frequently
Stand: Frequently
Walk: Frequently
Use Fine Finger Movements: Frequently
Carry/Lift Loads up to 25 Pounds: Occasionally
Carry/Lift loads between 25-50 lbs: Not Applicable
Carry/Lift Loads over 50 Pounds: Not Applicable
Read/Comprehend: Frequently
Write: Frequently
Perform Calculations: Frequently
Communicate Orally: Frequently
Reason and Analyze: Constantly
Chemical/Biological Agent: Not Applicable
Construction Activities: Occasionally
Contact with Water/Liquids: Not Applicable
Drive Motorized Equipment: Not Applicable
Confined Spaces: Not Applicable
Elevated Work Location: Not Applicable
Radioactive Materials: Not Applicable
Temperature Variations: Occasionally
Gas System: Not Applicable