Illinois Institute of Technology · 9 hours ago
Assistant Director, Accounts Receivable
Chicago, IL
Full-time
Onsite
Mid, Senior Level
$60K/yr - $65K/yr
5+ years expIllinois Institute of Technology is committed to educating and supporting students in understanding financial options. The Assistant Director for Accounts Receivable plays a crucial role in managing the student account receivable lifecycle and supervising operations related to billing, collections, and compliance.
Higher Education
Responsibilities
Responsible for generating all student billing statements each enrollment period to support student payment and university cash operations. This includes fee assessments within the Banner and StarRez systems along with providing support to the Director in the setup and maintenance of the rate tables, new charges, and ad hoc fees
Coordinate bill distribution with Student Accounting leadership to support service demands and enrollment timelines each enrollment cycle
Assess late penalty charges for delinquent accounts and oversee support for student needs outside of the standard billing timelines
Apply past due holds in the system in alignment with the enrollment periods to ensure university policy on enrollment with a past due balance is tightly monitored
Oversee process to ensure students using third-party support are processed in a timely manner each term
Provide support for all university partnership billing setup and reporting
Liaise with key enrollment partners to ensure billing structure supports enrollment goals including but not limited to Residence Life, Student Health and Wellness, and all admission units
Create and manage the university billing calendar in conjunction with key stakeholders across the university to ensure billing timelines meet the enrollment and cash flow needs of the university
Oversee collections with third-party partner, Recovery Select, for all outstanding balances each term
Ensure support provided to partner to meet university enrollment goals for future terms
Prove reporting for all activities and outcomes
Monitor daily reports to ensure data needs align with desired billing generation and reporting
Work closely with the Student Accounting and Financial Aid leadership to ensure all processes and systems are working to meet the operational needs
Oversee the generation and distribution of 1098Ts as required annually
Provide support to the director and any partner offices for annual financial audits
Support enrollment leadership in reporting requirements and needs to ensure accounts receivable operations meet all compliance needs and university strategic goals
Supervise the Student Account Analyst in third-party billing process including by not limited to student assignments, invoicing, and reporting
Provide escalation support for all service needs with a solution mindset to support the student experience and positive team culture
Provide regular training to the student accounting staff on all service, processing, and operational needs in collaboration with student accounting and financial aid leadership
Contribute to the implementation and assist in the development, modification of and writing Student Accounting policies and procedures for the office
Key member of the Student Accounting leadership team providing guidance and making recommendations to the AVP in determining and address inefficiencies
Represent the Director and/or designee in their absence or as requested
This role will work at several events each aid year to assist students and families in understanding the billing process and options for payment. Some nights and weekends are required for university events
Other duties as assigned
Qualification
Required
Bachelor's required
Minimum of 5-7 years of progressive experience in bursar, accounts receivable, or third-party billing services
Excellent communication skills required when working with university staff, outside vendors and current and prospective students
Broad knowledge of university functions and depth of student accounting function necessary to cultivate relationships with students and across campus
Excellent customer service required when working with university staff, outside vendors and current and prospective students
Broad knowledge of university functions and depth of financial aid requirements necessary to cultivate relationships with students and across campus
The ability to maintain student confidentiality is essential in this position
Responsible for generating all student billing statements each enrollment period to support student payment and university cash operations
This includes fee assessments within the Banner and StarRez systems along with providing support to the Director in the setup and maintenance of the rate tables, new charges, and ad hoc fees
Coordinate bill distribution with Student Accounting leadership to support service demands and enrollment timelines each enrollment cycle
Assess late penalty charges for delinquent accounts and oversee support for student needs outside of the standard billing timelines
Apply past due holds in the system in alignment with the enrollment periods to ensure university policy on enrollment with a past due balance is tightly monitored
Oversee process to ensure students using third-party support are processed in a timely manner each term
Provide support for all university partnership billing setup and reporting
Liaise with key enrollment partners to ensure billing structure supports enrollment goals including but not limited to Residence Life, Student Health and Wellness, and all admission units
Create and manage the university billing calendar in conjunction with key stakeholders across the university to ensure billing timelines meet the enrollment and cash flow needs of the university
Oversee collections with third-party partner, Recovery Select, for all outstanding balances each term
Ensure support provided to partner to meet university enrollment goals for future terms
Prove reporting for all activities and outcomes
Monitor daily reports to ensure data needs align with desired billing generation and reporting
Work closely with the Student Accounting and Financial Aid leadership to ensure all processes and systems are working to meet the operational needs
Oversee the generation and distribution of 1098Ts as required annually
Provide support to the director and any partner offices for annual financial audits
Support enrollment leadership in reporting requirements and needs to ensure accounts receivable operations meet all compliance needs and university strategic goals
Supervise the Student Account Analyst in third-party billing process including by not limited to student assignments, invoicing, and reporting
Provide escalation support for all service needs with a solution mindset to support the student experience and positive team culture
Provide regular training to the student accounting staff on all service, processing, and operational needs in collaboration with student accounting and financial aid leadership
Contribute to the implementation and assist in the development, modification of and writing Student Accounting policies and procedures for the office
Key member of the Student Accounting leadership team providing guidance and making recommendations to the AVP in determining and address inefficiencies
Represent the Director and/or designee in their absence or as requested
This role will work at several events each aid year to assist students and families in understanding the billing process and options for payment
Some nights and weekends are required for university events
Supervisor at least one staff member to support accounts receivable needs
Experience in bill generation and third-party collections
Knowledge of federal student/student aid regulations and guidelines
Proficiency using Microsoft Excel for data analysis and visualization
Exercises great attention to detail utilizing analytical and problem-solving skills
Demonstrate the ability to adapt in a high pace environment
Must keep abreast of changing guidelines for cash management and student collections
Must be able to manage multiple projects and coordinate with collaborators simultaneously
Demonstrated ability and experience to handle complex and sensitive issues
Strong written and verbal communications with proven ability to maintain collaborative relationships with internal and external constituents in order to provide support for the office and the students it serves required
Demonstrated ability to work in a team-based environment
Excellent commitment to diversity and to service the needs of a diverse population
Demonstrated ability to efficiently and effectively solve problems and initiate and implement projects independently
Interacts effectively with peers and superiors to address and resolve issue
Influences management by supplying key data that assists in decision making
Preferred
Preferred knowledge of Ellucian Banner or College software; other system knowledge beneficial as well
Company
Illinois Institute of Technology
Founded in 1890, Illinois Tech is a Ph.D.-granting research university with more than 7,800 students in engineering, science, architecture, design, applied technology, human sciences, business, and law programs.
1001-5000 employees
Funding
Current Stage
Late StageLeadership Team
Angela Manning-Hardimon
Vice President for Finance, CFO and Treasurer
Hilary Hudson Hosek, MSHR
Chief People Officer & VP of Human Resources and Talent Management
Recent News
Chicago Business Journal
2023-11-04
2023-07-19
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