Staff Accountant

American University is a student-centered research institution located in Washington, DC, with highly-ranked schools and colleges, internationally-renowned faculty, and a reputation for creating meaningful change in the world. Learn more about American University

Department:

Student Accounts Operations

Time Type:

Full time

Work Modality:

Hybrid 02 (On Campus 2 days/Week)

Union:

Excluded

Job Description:

Summary:

The Staff Accountant is responsible for the production and approval of refund checks due to over payments on a student's account. The reconciliation of various clearing and/or balance sheet accounts. The Staff Accountant's responsibilities are supervised and directed by the Associate Director of Student Account Operations

The Staff Accountant reports directly to the Associate Director of Student Account Operations along with the Credit and Collections Manager and the Manager of Student Loans. The Staff Accountant has full authority to approve refund checks for students under $10,000.00, refunds greater than this amount must have the approval of the Senior Director or Associate Director of Student Account Operations. Reconciliation reports are provided to the Staff Accountant by the Associate Director of Student Account Operations to perform routine audits as directed by the Associate Director of Student Account Operations. This position must have in-depth knowledge of the other departments within the office of student accounts. A reasonable degree of autonomy is given to the Staff Accountant by the Associate Director of Student Account Operations.

Essential Functions:

• Produce daily report to identify Title IV credit balances and over payments.

• Establish procedures for tracking refunds from time refund is generated to mailing of check and/or ACH submission.

• Manage the Monthly Receivable Report to reconcile against AR to identify past term credit balances to be resolved.

• Compute amounts due to students and approve the issuing of the disbursements.

• Process tuition deposit refunds per requests from admissions.

• Manage the Return of title IV credit balance process for refunds issued that failed to be cashed within 240 days.

• Process refunds returned by mail and reissue with correct mailing addresses.

• Review and void returned (ACH) direct deposit refund attempts and reissue via updated ACH or paper check.

• Void any lost refund checks issued.

• Produce monthly report of outstanding refunds, evaluate each refund for and process void/reissue.

• Daily reconciliation of refund totals.

• Payment Allocations Monitor Payment allocations from cash receipts and make necessary adjustments to ensure payments are allocated to appropriate terms and invoice

• Produce daily reports to identify cash receipts (lockbox, online and cashier payments) that require payment allocations to proper terms and invoice.

• Produce daily reports to identify term credit balances that require payment allocations to proper terms and invoices.

• Produce daily reports to identify term credit balances that require refunds and adjustments to over awarded financial aid.

• Process payment allocations to ensure payment plan payments are allocated to the payment plan.

• Process the creation of tuition deposit for graduation and special programs.

• Handles tuition deposit forfeitures.

• Troubleshoot issues with any unallocated deposits that have not paid.

• Performs routine audits of operations emphasizing internal and operational controls to ensure that accounts are in balance.