What are the responsibilities and job description for the University Bursar position at ST THOMAS UNIVERSITY INC?
Job Details
St. Thomas University - Business Office
Position Title: University Bursar
Reports to: Chief Financial Officer
Summary:
The University Bursar is a senior leader responsible for Student Business Services for St. Thomas University. Student Business Services is a department critical to the success of financial administration and student services. The primary role of the Bursar is to maintain the accuracy and the collection of student tuition and fee accounts. In addition, the Bursar acts as cashier for all operational receipts, student payments, and disbursement of all financial aid funds. The Bursar is the central institutional resource for all student accounts, related policies and procedures as well as compliance with Federal and State guidelines. The Bursar collaborates with the Chief Financial Officer and Enrollment Management Task Force to implement and improve processes and procedures that contribute to increased retention efforts and strengthened administrative and fiscal operations.
Responsibilities:
Student accounts and Receivables: Maintain student tuition, fee accounts, and oversee the billing and collection process for over $110 million of tuition and fees. Ensure accuracy, timeliness, and collection at optimal levels to support iinstitutional fiscal health. This includes all third-party billing for agencies and entities with university partnerships.
Financial aid: Oversee the disbursement of financial aid, and release refunds to students according to compliance regulations. This includes monitoring of non-deliverable payments and reissues and unclaimed property management.
Tax Reporting: Oversee the annual production and distribution of 1098Ts to all University Students for each tax year. Ensure compliance and reporting with the IRS.
Cash management and Payment Ecosystem: Supervise cash management, receipt, deposits and monitor controls for all cash received by the University. Design, implement and monitor payment plans, options and reconciliation for student and third-party payments. Design system for enhanced efficiency and customer experience.
Technology: Oversee all modules and configurations supporting tuition billing and payment in the Colleague ERP Software system. Support testing, development of tuition and billing. Oversee all vendor payment systems.
Reporting: Create regular reports on performance and trends for payments and receivables management. Provide periodic reports of receipts and technical information to the university community and to external funding agencies.
Policies and procedures: Ensure compliance with federal and state guidelines and establish and maintain policies and procedures for all departmental activities.
Training and Development: Oversee 5 FTE and design, establish, and maintain an organizational structure to effectively accomplish the organization's goals and objectives; oversee recruitment, training, supervision, and evaluation of unit staff.
Customer Service and Financial Education: Provide excellent customer service to students, parents, and other customers to ensure understanding of financial responsibilities and enhance retention and degree completion.
Collaboration: Collaborate with other departmental leaders to improve processes and procedures. Recommend and participate in the development of university policies and procedures; serve on university planning and policy-making committees. Key member of the Enrollment Management Task Force and member of the leadership team for the Chief Financial Officer.
Auditing and Quality Assurance: Interact with internal and external auditors, participate in auditing projects, or provide information and access to accounting records as required by University Accounting.
Strategic Planning: Establish and implement short- and long-range organizational goals, objectives, strategic plans, policies, and operating procedures; monitors and evaluate programmatic and operational effectiveness, and effect changes required for improvement.
Presentation: Represent university and the department to various institutional divisions as well as external to professional organizations, governmental agencies, vendors, students and their parents, and/or the public.
Qualifications
Qualifications
- Strong fiscal management skills are crucial, including budgeting, cash flow management, financial reporting, and understanding of accounting principles and best practices.
- A solid grasp of accounting procedures, principles, and best practices is essential. Experience with college or not- for-profit accounting preferred.
- Familiarity with relevant federal and state regulations, particularly those related to financial aid, tuition, and student accounts required.
- Proficiency with accounting software, spreadsheet programs (like Microsoft Excel) and ERP and Vendor systems. Knowledge of Colleague is required.
- Excellent written and verbal communication skills are crucial for interacting with students, faculty, staff, and external stakeholders.
- The Bursar role demands high diligence and accuracy in handling financial transactions, records, and reporting.
- The ability to analyze financial data, identify discrepancies, and solve problems effectively is essential.
- Bursars often oversee a team and manage the financial operations of an institution, requiring leadership and management skills.
Education and Experience
- A bachelor's degree in accounting, finance, business administration, or a related field is usually a minimum requirement. Master's degree, preferred.
- 5-7 years of experience in fiscal management, accounting, or a related field are essential. Experience in a Bursar's office or a similar role within a school, university, or other institution with progressive experience required.
Salary: $100,000.00
Salary : $100,000
