Financial Aid Accountant
Jobs at:Strathmore University
Deadline of this Job:
Monday, June 12 2023
Date Posted: Thursday, June 08 2023, Base Salary: Not Disclosed
Basic job summary:
• The Job Holder will be responsible for the execution of all Loans and Accounting functions of the Financial Aid Office in line with the University’s policies, accounting standards and best practice. He/she will support the Head of Financial Aid in managing internal and external Financial Aid loans and accounts.
Duties & Responsibilities:
• Verification of payments: Ensure accurate and timely verification of all students’ disbursements (hostel fees, tuition fees, grad-prep reimbursements, stipends); and FAO suppliers payments.
• Financial Reporting: Preparation of quarterly reports on Financial Aid Expenditures for SU and external FAO partners, monthly FAO management accounts and Ad hoc reports to external and internal partners/donors as required;
• Audit Lead and M&E Support: Provide schedules and any necessary documentation for donor and external auditors and facilitate audit of financial aid accounts including Kiva accounts, Scholarship accounts and Donor accounts; Support FAO Monitoring & Evaluation Activities.
• Loan Management: Assist Program Managers and Head of FAO in student loan management activities including preparation of loan repayment schedules, disbursement of student loans and follow up with students to ensure timely repayment of loans;
• Investment: Make investment of monies (loan or otherwise) received from donors/partners in income generating ventures as determined by the University to facilitate payment of other FAO benefits such as accommodation and meals
• Student Account/Donor Accounts Reconciliations: Reconciliation of Scholarship students and donor accounts to help avoid, identify and correct any mistakes;
• Advisory: Responding to parent and student inquiries on the various financial aid related matters including providing student loan statements and accommodation transaction slip;
• Records Management: Ensure proper filing of accommodation invoices, fee and work-study claim forms, all loanee documents and ensure that all money received is correctly receipted and accounted for.
• Work-Study Payroll Management: verify and ensure timely and accurate processing of work-study salaries and making statutory deductions by FAO Accounts Assistant.
• Loans Management: Facilitate overall student loans disbursement, monthly recovery and monthly reporting by ensuring that student’s loans data and repayments are adequately captured, maintained and reported in the SU, Kiva, HELB, Fomento and External Loan Systems; Liaise with Financial Aid staff to ensure that students make their monthly repayments on time including internal check-offs for loanees on SU and Work-study payroll.
• Any other duties as may be assigned from time to time by Head of FAO.
Minimum Academic Qualifications:
• Bachelor’s degree in Accounting, Finance or a business related field;
• Professional qualification in Finance or Accounting such as CPA or ACCA;
• Credit Management Certification such as Certified Credit Professional is an added advantage;
• At least 3 years’ accounting experience in an education institution.
Competencies and Attributes:
• Unquestionable integrity and good work ethic;
• Excellent negotiating skills and influencing capabilities;
• Excellent analytical skills and attention to details;
• Excellent communication and interpersonal skills;
• Ability to put up with pressure;
• Results driven and a team player;
• Flexible and Pro-active;
• Able to work with minimum supervision;
Work Hours: 8
Experience in Months: 36
Level of Education: Bachelor Degree
Job application procedure
• Are you qualified for this position and interested in working with us? We would like to hear from you. Kindly send us a copy of your updated resume and letter of application (ONLY) quoting “Financial Aid Accountant”on the subject line to firstname.lastname@example.org by 12th June 2023.
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