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POSITION SUMMARY: 

Under supervision of the Banking & Cash Management Specialist or Assistant Bursar and general direction of the Bursar, the Financial Assistant IV-Bursar’s Office is responsible for processing and posting payments received by the UMass Chan Medical School (“UMass Chan”) to the appropriate bank accounts and general ledger accounts in accordance with UMass Chan policy, campus internal control measures, and generally accepted accounting principles.  The Financial Assistant IV also conducts multiple treasury related activities and assists in student financial functions.

ESSENTIAL FUNCTIONS:

Payment processing and treasury related:

• Process daily payment deposits of all payment types, accurately identify payment destination, create payment receipts in the cashiering module of the PeopleSoft Campus Solution (“PSCS”) system, balance daily deposits, and complete remote depositing of checks to the UMass Chan depository bank account.
• Understand and follow segregation of duty guidelines and balance cash held at the Bursar’s office at day end.
• Distribute receipts and supporting documentation to requesting departments as needed. Process payment correction journals as needed.
• Coordinate with UMass Chan invoicing departments on payment identification and provide information and assistance to other Bursar’s Office team members as needed.
• Assist departments with setting up EFT payments and maintain access to third-party payer websites.
• Maintain payment logs to ensure payment records are entered in a timely manner. Identify and transfer non-UMass Chan payments to other UMass campuses or other entities.
• Assist managing the Cash and Cash Equivalents Receipting Policy to ensure adherence by departments that have been approved to receive payments for revenue generating activities.
• Apply receipts of WCCCP rental payments from external tenants to their AR in PeopleSoft Finance system.
• Process checks through UMass Chan Imprest checkbook to fulfill requests of payroll advances, direct deposit rejects, emergency loans, or other emergency check request as needed. Distribute these check as well as Home Checks appropriately per instruction given.
• Compile monthly reconciliations on the depository bank accounts, Imprest account, petty cash account, and the unclassified holding account, as needed.
• Perform other duties as assigned

Student financial related:

• Assist with processing student tuition and fee payments, PI Billing, and posting other transactions to student accounts as needed.
• Accept student credit card payments, reconcile credit card transactions, and process reclassification journals.
• Assist with pre-matriculation and orientation tasks, graduation clearance, and inquiries on student account transactions, tuition credit, financial aid disbursed, refunds, and health insurance.
• Follow Federal, State, UMass, and campus policies and procedures pertinent to all Bursar’s Office functions.
• Perform other duties as assigned.

REQUIRED QUALIFICATIONS:

• Associate’s degree in Accounting, Business, or a related major along with three (3) or more years of experience working in a business/accounting office; or Bachelor’s degree in Accounting, Business, or a related major along with minimum one (1) year of relevant working experience
• Demonstrated exposure to treasury functions and banking institutions in relation to payment deposit matters
• Demonstrated knowledge of basic accounting principles and functions such as processing journal entries, interpreting system reports, and conducting account reconciliations
• Demonstrated proficiency in major office applications such as Microsoft Word, Excel, SharePoint, DocuSign, Adobe. Skilled in designing and maintaining spreadsheets utilizing Excel
• Strong communication skills (oral and written) and professional interpersonal skills while interacting with senior administration, faculty, staff, students, and co-workers
• Strong analytical and problem-solving skills so as to adequately research and accurately identify payment destination.
• Able to work independently but seek direction where appropriate
• Able to complete assignments with attention to detail and high degree of accuracy
• Able to establish priorities and manage multiple activities to meet deadlines

PREFERRED QUALIFICATIONS:

• Functional experience in PeopleSoft or other accounting applications
• Knowledge in overall structure and functions of a higher education institution