SUMMARY/PURPOSE
The Financial Aid Manager leads the administration and compliance of all financial aid programs at Summit Academy OIC. This role ensures effective management of federal, state, and institutional financial aid in accordance with all regulatory requirements while supporting student access and success. The Financial Aid Manager works collaboratively across departments to deliver accurate, timely, and student-centered financial aid services that align with the mission, vision, and values of Summit…
Academy OIC and support the organization's commitment to expanding opportunity through education and workforce development.
ESSENTIAL FUNCTIONS
Financial Aid Program Administration
- Administer, coordinate, and manage all federal, state, and institutional financial aid programs, including grants, scholarships, and work-study.
- Ensure timely processing of financial aid applications, eligibility determinations, awards, and disbursements for all eligible students.
- Oversee all financial aid awarding processes and review work completed by financial aid staff to ensure accuracy and compliance.
- Process state and federal R2T4s.
- Monitor and manage expenditures, allocations, and revenue across all financial aid funding sources.
- Resolve complex financial aid issues involving staff, students, and external partners related to funding, awarding, or disbursement of aid.
- Maintain accurate and complete documentation for all student financial aid files in accordance with regulatory requirements.
Compliance, Reporting, and Regulatory Oversight
- Ensure full compliance with federal, state, and accrediting agency regulations governing financial aid programs.
- Prepare and submit required federal and state reports including FISAP, IPEDS, Minnesota Office of Higher Education reports, and other regulatory filings.
- Serve as the institution's Financial Aid Administrator and designated Data Point Administrator for Department of Education documentation, including the Program Participation Agreement.
- Coordinate financial aid audits and address any findings through corrective actions and compliance improvements.
- Monitor changes in federal, state, and accrediting body regulations and implement required operational updates.
Work Study Supervision
- Oversee the work study program including applications, hiring, and terminations of work study students.
- Assist in the posting of open positions in collaboration with department managers.
- Ensure compliance with Federal and State Work Study programs.
Strategic Planning and Program Development
- Develop and implement short-term and long-term strategies for financial aid administration aligned with institutional enrollment goals and KPIs.
- Collaborate with senior leadership to support enrollment management initiatives and student retention efforts.
- Develop, implement, and revise financial aid policies and procedures to maintain regulatory compliance and operational efficiency.
Student Support and Institutional Collaboration
- Collaborate with Enrollment, Student Services, Finance, and Education departments to ensure coordinated student support services.
- Supervise and monitor the Satisfactory Academic Progress (SAP) process.
- Serve as a liaison with federal, state, and local agencies regarding financial aid policies and program participation.
- Provide guidance and support to students navigating the financial aid process.
Professional Development
- Maintain a high level of professional competence in financial aid administration and program assessment.
- Participate in state and national financial aid organizations, conferences, and professional development opportunities.
- Implement changes to policies and procedures based on regulatory updates and best practices.
KNOWLEDGE, SKILLS, & ABILITIES
- Strong knowledge of federal and state financial aid regulations and compliance requirements
- Excellent organizational, documentation, and records management skills
- Strong analytical and problem-solving abilities
- Ability to work effectively in a fast-paced environment with competing priorities
- Strong interpersonal and communication skills, both written and verbal
- Ability to collaborate across departments and work effectively as part of a team
- High level of proficiency in Microsoft Office Suite, particularly Excel
- Ability to maintain confidentiality and handle sensitive information responsibly
- Positive, student-centered, and solutions-oriented approach
SUPERVISORY RESPONSIBILITY
This position supervises SAOIC's Financial Aid Coordinators.
WORK ENVIRONMENT
This position operates in a professional school and administrative office environment that includes administrative offices, meeting rooms, classrooms, and shared workspaces on a training campus. The role routinely uses standard office equipment and technology such as computers, monitors, printers, copiers, scanners, phones, and financial aid software systems.
PHYSICAL DEMANDS
- Ability to sit or stand for extended periods of time
- Ability to use a computer, keyboard, and telephone for prolonged periods
- Ability to read computer screens and printed materials with or without vision aids
- Ability to hear and communicate clearly in person and over the phone
- Ability to occasionally lift and move items up to 25 pounds
- Ability to bend, reach, and move within an office environment
POSITION TYPE & EXPECTED HOURS OF WORK
This is a full-time, exempt position under the Fair Labor Standards Act (FLSA) and is not eligible for overtime pay. Typical work hours are Monday through Friday, 8:00 a.m. - 5:00 p.m. Evening and weekend work may be required to meet organizational needs. Position is required to work on site.
TRAVEL
Limited travel may be required for training, conferences, or regulatory meetings. Travel is expected to be less than 10% annually.
REQUIRED EDUCATION & EXPERIENCE
- Bachelor's degree in business, finance, accounting, or a related field, or an equivalent combination of education and experience.
- Minimum of five years of progressively responsible experience in financial aid administration, including regulatory compliance and reporting.
- Experience working with financial aid systems, reporting tools, and data analysis.
- Strong proficiency with Microsoft Excel and financial or accounting concepts.
PREFERRED EDUCATION & EXPERIENCE
- Experience working in a nonprofit or workforce development education.
- Experience supporting adult learners or students in non-traditional educational settings.
- Demonstrated ability to work effectively with diverse populations.
- Experience with financial aid audits, regulatory reviews, or accreditation processes