Financial Specialist - Hybrid

Financial Specialist - Hybrid

University Bursar

Sponsorship for Work authorization is not available for this position.

Job Summary

Duties & Responsibilities

• Coordinate and prepare required annual federal reports, including the Perkins FISAP for the U.S. Department of Education and Annual Operating Reports for the Health Resources and Services Administration (HRSA). Also prepare and analyze annual portfolio reports summarizing loan balances, collections, and default rates for each campus.
• Coordinate and prepare quarterly financial reports on the student loan portfolio for University Accounting and Financial Reporting (UAFR), ensuring accurate financial data for use in University-level financial reporting.
• Reconcile refunds issued from student and general (non-student) accounts receivable each month for all three campuses, ensuring refunds in the billing system match the University's accounting records.
• Manage and support daily accounts receivable data processing activities within Banner and related integrated systems, including coordinating the preparation, review, and submission of feeder data received from multiple University payment portals.
• Coordinate and administer returned check processes, including the organization, investigation, processing, communication, and documentation of all NSF/returned checks for all System Office locations, ensuring timely resolution of discrepancies.
• Verify at the start of each month that loan disbursements and borrower payments transfer accurately between the University's financial system (Banner) and its third-party loan servicer. Independently research discrepancies and coordinate corrections of missing or inaccurate transactions.
• Manage and reconcile the three holding (clearing) accounts through which loan payments and account adjustments pass before posting to individual loan funds, monitoring account activity and ensuring all transactions clear accurately and promptly.
• Coordinate monthly reconciliations of each federal and University-funded loan fund, verifying that balances agree between Banner and the loan servicer's records, investigating discrepancies, and implementing appropriate corrections.
• Analyze and project available funds monthly for each loan fund and provide financial projections to Financial Aid to support decisions regarding annual student loan funding availability.
• Support and coordinate financial activities associated with the closeout of the federal Perkins Loan program, including verifying that loan cancellations post correctly and assisting with the transfer of remaining loans and cash balances to the U.S. Department of Education.
• Calculate, review, and record annual financial allowances, including the administrative allowance and the allowance for doubtful (uncollectible) accounts, ensuring accurate financial reporting and supporting documentation.
• Coordinate federal funding activities when a federal health professions loan fund experiences low cash balances, including receiving and reviewing the Notice of Award (NOA) from the Health Resources and Services Administration (HRSA) and coordinating the drawdown of awarded federal funds into the appropriate loan fund.
• Develop, generate, and maintain Banner data downloads, reports, and supporting datasets used by Business Operations for financial reporting, reconciliation, analysis, and operational decision-making.

Minimum Qualifications

1. Bachelor's degree in business administration, management, or a field related to the position.
2. Two (2) years of professional business, financial, and/or managerial work experience.
3. Demonstrated experience in financial reporting, account/payment reconciliations, and/or financial operations.

(NOTE: A Master's Degree in an area consistent with the duties of the position may be substituted for one (1) year (12 months) of work experience.)

Preferred Qualifications

Preferred:

1. Demonstrated financial and accounting expertise to conduct analyses of financial documents/reports and related processing systems.
2. Proficiency with SQL and report-writing or query tools (e.g., DBeaver).
3. Knowledge of Banner programs/applications and work experience acquired in a higher education institution, preferably the University of Illinois.

Knowledge, Skills and Abilities

• Specialized knowledge of professional accounting practices and applicable state/federal guidelines and regulations.
• Excellent verbal and written communication skills.
• Ability to prepare financial reports that provide detailed information with clarity.
• Strong interpersonal skills.
• Demonstrated problem-solving capability.
• Excellent organizational and multitasking skills.
• Ability to exercise good judgment and discretion.
• Advanced proficiency in Microsoft Excel and working knowledge of other Microsoft Office applications (e.g., Word, Outlook).

Appointment Information

This is a 100% full-time Civil Service 5010 - Business/Administrative Associate position, appointed on a 12-month basis. The expected start date is as soon as possible. Sponsorship for Work authorization is not available for this position. System Office jobs such as this one are not eligible for the Referral Program.

The budgeted salary range for the position is $60,000 to $65,000. Salary is competitive and commensurate with qualifications and experience, while also considering internal equity.

For more information on Civil Service classifications, please visit the SUCSS web site at https://www.sucss.illinois.gov/pages/classspec/default.aspx.

This position is not eligible for any type of sponsorship for work authorization.

Application Procedures & Deadline Information

Applications must be received by 6:00 pm (Central Time) on November 5th, 2026. Apply for this position using the Apply Now button at the top or bottom of this posting. In order to be considered as a transfer candidate, you must apply for this position. Applications not submitted through https://jobs.illinois.edu will not be considered. If required by the position, transcripts or other documentation of credentials are to be provided no later than the first day of employment. For further information about this specific position, please contact Bree Smith at cbsmith@uillinois.edu. For questions regarding the application process, please contact 217-333-2137.

At the University of Illinois Urbana-Champaign — the state’s flagship public university and one of the world’s leading research institutions — every staff member helps shape what’s next. Founded in 1867, Illinois is home to a vibrant community of 59,000 students from all 50 states and 129 countries, supported by 15 colleges and instructional units, more than 20 research institutes, and one of the most comprehensive student service ecosystems in the nation. Whether you’re empowering first-generation students, fueling breakthrough innovation, or strengthening communities across Illinois and beyond, your work here has a far-reaching and deeply meaningful impact. The university offers a highly competitive benefits package designed to support your well-being, growth, and financial security. Join a top 10 public university that has launched over 330 startups and continues to redefine excellence — where the Illinois Value Proposition ensures that your contributions are recognized, your potential is nurtured, and your career can thrive.

Champaign-Urbana

Artificial Intelligence (AI) tools may be used in some portions of the candidate review process for this position; however, all employment decisions will be made by a person.

This position is intended to be eligible for benefits. This includes Health, Dental, Vision, Life Insurance, a Retirement Plan, Paid time Off, and Tuition waivers for employees and dependents.

The University of Illinois System is an equal opportunity employer, including but not limited to disability and/or veteran status, and complies with all applicable state and federal employment mandates. Please visit Required Employment Notices and Posters to view our non-discrimination statement and find additional information about required background checks, sexual harassment/misconduct disclosures, and employment eligibility review through E-Verify.

Applicants with disabilities are encouraged to apply and may request a reasonable accommodation under the Americans with Disabilities Act (2008) to complete the application and/or interview process. Accommodations may also be requested on the basis of pregnancy, childbirth, and related conditions, or religion. Requests may be submitted through the reasonable accommodation portal, or by contacting the Office for Access & Equity at 217-333-0885, option #1, or accessibility@illinois.edu.

Requisition ID: 1039064
Job Category: Professional and Administrative
Apply at: https://jobs.illinois.edu