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The Arkansas Student Loan Authority (ASLA) Federal Programs Financial Officer is responsible for administering the financial functions for two federal education loan programs (William

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Typical Functions:

Manages bond issue compliance and reporting, including providing quarterly distribution date certificates to Wells Fargo and registered owners’ registered reports to bondholders as well as handling loan servicing requests, program administration draw requests, consolidation fee payment requests, and special allowance payment requests. Manages United States Department of Education related matters, including special allowance payments and receipts, consolidation loan fee payments, Straight-A Funding compliance statements previously submitted to the department, as well as overpayments for purchases made by the department. Manages the agency’s federal conduit program, including reviewing monthly conduit administrator’s reports, ratable financing cost reports, and then reconciling discrepancies; submits compliance forms for the agency and its loan servicer. Prepares ASLA’s annual and biennial budget requests and oversees all fiscal matters; ensures compliance with state procurement regulations; prepares and submits technology plan and disaster recovery plan, purchase orders, professional service contracts, comprehensive annual financial report (CAFR) report, long-term debt reporting, as well as additional state government related reporting requirements. Handles arbitrage matters with current and prior outstanding bond problems, including interpreting and subsequently calculating internal revenue service liability. Monitors the Special Direct Loan Consolidation Program, including accounting for loans and funds transferred through the program. Reviews monthly financial statements and journal entries for the 2010 bond issue and Straight-A Funding. Responds to their rating agency’s request for financial and operational information. Performs other duties as assigned.

Knowledge, Abilities, and Skills:

Knowledge of the credit analysis and lending practices. Knowledge of federal higher education laws and regulations. Knowledge of state budgetary, human resources, and purchasing procedures. Knowledge of the operation and function of standard office equipment. Ability to analyze loan applications and determine eligibility for loans. Ability to interpret and apply rules, laws, or policies to specific situations. Ability to convey and exchange oral and written information of a specialized nature. Ability to maintain records and compile reports.

Minimum Qualifications:

The formal education equivalent of a bachelor’s degree in accounting, financial management, business administration, or a related area; plus eight years of experience in student financial aid management or a related financial area. Additional requirements determined by the agency for recruiting purposes require review and approval by the Office of Personnel Management. OTHER JOB RELATED EDUCATION AND/OR EXPERIENCE MAY BE SUBSTITUTED FOR ALL OR PART OF THESE BASIC REQUIREMENTS, EXCEPT FOR CERTIFICATION OR LICENSURE REQUIREMENTS, UPON APPROVAL OF THE QUALIFICATIONS REVIEW COMMITTEE.

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