Job Description

MOHELA is a not-for-profit student loan servicer with a combined portfolio of student loans owned by the federal government, special entities, and itself. We are a contracted servicer with the Department of Education. We currently have around 340 employees and we are conveniently headquartered in Chesterfield valley, with an operation center in Columbia, Missouri, and an office in Washington, DC . We have been actively providing financial support and other support to Missouri's higher education programs for more than 40 years.

MOHELA is looking for a passionate and skillful Financial Adjustment Specialist. This position will be onsite at our Chesterfield, MO headquarters.

General Statement of Duties: This position is responsible for reconciling all payment activity related to Federal Asset Accounting including reapplication of payments as instructed, refunding as required, posting of all write off/up, IPAC processing, and all auto debit requests. Additionally, this position is responsible for ensuring processes and procedures are kept up-to-date and followed. This position requires in-depth research and reconciliation skills.

Essential Duties and Responsibilities:

• LOCKBOX RECONCILIATION – Completed a three way reconciliation between payment interfaces, Compass servicing system and CIR to ensure all debits and credits are reported to FMS correctly. Research of all payments that suspend daily to determine corrective action.
• IPAC IN/OUT– Access the Department of Education’s website to extract schedule information to report and post payments as required for IPAC IN. For IPAC Out research misdirected payments to determine the correct servicer following all IPAC instructions. Schedule information will be reported and misdirected payment will be deleted from suspense.
• REFUNDING – Processing all credit balance and refund request following all rules and regulations.
• IPL/IDQ QUEUES – Accurately and timely completes IDQ/IPL tasks including payment reapplication, removal of paid ahead, FSA approved write offs for death, disability, teacher loan forgiveness, small balance and other miscellaneous write offs. Accurate and timely processing of auto debit, which include new applications, suspension of auto debit, adding additional amount or loan, and removing auto debit as required.
• COMPLIANCE – Maintains and assures program compliance through the strategic use of MOHELA’s various systems, keeping current with and accurately interpreting the program rules and regulations and the effective use of certain designated quality control standards. Assists with modification of procedures for the department.

Qualifications:

Associate's degree (A.A.) or equivalent from two-year college or technical school; or one year accounts receivable experience; or equivalent combination of education and experience.

Minimum 8000 KSPH 10-key skill, Computer literate with basic knowledge of Excel and Word.

Position may require significant overtime (over 40 hours of work completed per week).

MEDICAL, DENTAL and VISION MOHELA offers a comprehensive medical plan that includes prescription coverage for employees and their dependents. A health savings account is available for employees to save for the future or to pay current medical expenses. We share the cost of insurance premiums with our employees. Vision coverage is available at no cost and offers free eye exams, and discounts on glasses and contacts. Dental insurance offers preventive care, dental work, and orthodontics (for dependent children) at various coverage percentages. MOHELA offers an incentive for employees who waive MOHELA’s medical plan and obtain medical coverage with another group medical plan. EARNED TIME OFF And the clock starts now! Time off begins to build when your employment starts. We observe 6 holidays a year: New Year’s Day, Memorial Day, Fourth of July, Labor Day, Thanksgiving and Christmas. We also offer 4 Personal Holidays for you to use! You will receive at least 17 days of available time off in Personal Time Off (PTO) and Vacation benefits. The days roll over from year to year, if unused. Family is very important to MOHELA. Birth and adoption time off benefits are also available to employees. TUITION REIMBURSEMENT One of MOHELA’s core values is education. We support helping our employees and their dependents reach their educational goals. After 3 months of employment, you can qualify for up to $12,000 per calendar year in tuition reimbursement. 401(k) Match up to 8% After you complete six months of service, MOHELA will match each dollar you contribute up to the first 8% of your salary. You can contribute up to 50% of your annual salary. It’s simple to contribute through payroll deduction. This benefit is in addition to the Pension Plan! PENSION PLAN MOHELA’s Pension Plan is designed to provide a monthly income to participants who meet the plan’s retirement requirement. All benefits are 100% funded by MOHELA – with NO cost to employees. Benefits are determined by the plan’s benefit formula, based on years of service. HEALTH AND WELLNESS In addition to our comprehensive medical plan, MOHELA offers a comfortable working environment. From state of the art technology to the chair you sit in, MOHELA offers a variety of active workspace options, including Varidesk, Under Desk Elliptical Exerciser and Yoga Ball Desk Chairs. You can also stay healthy by visiting our on-site gym facility.

We are an EEO/AA Employer. We do not discriminate in hiring on the basis of race, color, national origin, sex, gender identity, sexual orientation, religion, age, disability, protected veteran status, or any other characteristic protected by federal, state or local law To build a diverse workforce, MOHELA encourages applications from individuals with disabilities, minorities and veterans. In compliance with the American Disabilities Act Amendment Act (ADAA), if you have a disability and would like to request an accommodation in order to apply for a position with MOHELA, please call please call 636.733.3700 x3571, TDD 7-1-1

Company Description

MOHELA is a student loan servicer with about 1.8 million borrowers, $38 billion worth loans in combined portfolios owned by federal government, special entities, and itself. We are a contracted servicer with the Department of Education. We currently have around 340 employees and we are conveniently headquartered in Chesterfield, Missouri, with an operation center in Columbia, Missouri, and an office in Washington, DC. We have been actively providing financial support and other support to Missouri's higher education programs for 40 years.