Senior Collections Analyst

Title:
Senior Collections Analyst

Department:
Bursar's Office

Reports To:
Bursar

Position Type:
Staff

Position Summary:
The Senior Collections Analyst plays a crucial role in
overseeing the collections process. This position will manage and analyze
delinquent students' accounts while implementing effective debt collection
strategies and ensuring compliance with university policies and regulations.
This role involves using Banner ERP to track outstanding balances, generate
reports, trends and data analytics, and coordinate collection efforts. The
analyst will collaborate closely with internal departments, external collection
agencies, and legal counsel to minimize bad debt losses and improve overall
financial performance.

Essential Functions:
Debt Management & Analysis:
-Owns and drives solutions for regulatory, business oversight, and collection performance management needs.
-Analyzes outstanding student accounts and develops strategies to improve collection efforts.
-Identifies and leads trends and data analytics
-Monitors aged receivables, identifies trends, and provides recommendations to reduce bad debt write-offs.
-Prepares and maintains detailed reports on delinquent accounts, collections, and financial impact.
-Researches and collects on past due accounts using all available resources.

Implementation & Strategy Development:
-Implements data-driven collection strategies to optimize recovery efforts.
-Develops and refines policies related to student account collections and write-offs.
-Works with IT, vendors and Finance teams to improve Banner ERP functionality for debt management.
-Monitors Touch Net payment plans and prepares alternative payment arrangements.
-Perform other duties as assigned.

Collections & Recovery:
-Initiates and manages internal collection processes, including dunning letters, payment plans, and outreach campaigns.
-Coordinates collection agency activities including but not limited to account resolution and disputes, account settlement, analyzing agency inventory, payment posting, account adjustments and bankruptcies.
-Prepares monthly review of accounts to facilitate bad debt write-off in accordance with university policy and in consultation with Finance leadership. Accurately adjusts accounts for bad debt write-off and assigns to collection agencies.
-Works with legal counsel on accounts requiring litigation or further legal action.

University Collaboration & Compliance:
-Collaborates with Financial Aid, Registrar, and Academic departments to resolve account disputes and develop preventive measures.
-Ensures compliance with FERPA, PCI, and other financial regulations.
-Maintains knowledge of university policies, state laws, and federal regulations regarding student debt collection.

Technology & Systems Management:
-Utilizes Banner ERP and other financial systems to track and manage outstanding accounts.
-Generates and analyzes reports to improve efficiency and accuracy in the collections process.
-Manages system upgrades, testing, and implementation of new debt management tools.
-Any additional responsibilities as required by management.

Prerequisite Qualifications:
-Bachelor's degree in accounting, Finance, Business Administration, or a related field.
-4 - 6 years of experience in accounts receivable, collections, or financial analysis, preferably in a university setting.
-Experience with Ellucian Banner ERP, including Accounts Receivable and Student modules, familiarity with Argos reporting software and Regent Education Financial Aid system required.
-Excellent attention to detail and ability to work with large volumes of transactions.
-Exceptional communication and interpersonal skills.
-Ability to handle sensitive and confidential information with discretion.
-Strong analytical skills with experience in data analysis and reporting.
-Ability to work independently, manage time and collaborate across multiple departments.
-At the university's discretion, the education and experience prerequisites may be exempted where the candidate can demonstrate to the satisfaction of the university, an equivalent combination of education and experience specifically preparing the candidate for success in the position.

Preferred Qualifications:
-Knowledge of federal and state regulations related to student debt collection.
-Experience working with third-party collection agencies and legal counsel.
-Proficiency in Microsoft Excel for reconciliation and for reporting purposes.

Bargaining Unit:
PSA

Range/Band:
21

FLSA:
Exempt
Full-Time