Account Adjuster

This is a fully remote position, open to applicants in United States.

📋 Description

• Review and evaluate Perkins Loan borrower accounts to detect discrepancies related to principal, interest accrual, late fees, collection costs, and payment applications.

• Execute complex account adjustments, which include: recalculating interest, reversing and correcting payments, updating deferments and forbearances, cancelling loans (such as those based on employment or military service), and making adjustments for rehabilitation and write-offs.

• Ensure that all adjustments are thoroughly documented and substantiated in accordance with federal regulations and institutional audit standards.

• Facilitate the resolution of account discrepancies in collaboration with third-party servicers or collection agencies.

• Provide Loan Analysts with reconciled borrower-level data and summaries of adjustments to improve cohort, delinquency, and recovery analyses.

• Identify systemic issues and data anomalies to assist analysts in conducting root-cause reviews and developing modeling assumptions.

• Deliver timely evidence and narratives of adjustments that support analysts’ variance analyses and management reporting.

• Reconcile the Perkins Loan servicing system with the institution’s general ledger and revolving fund on a monthly and quarterly basis.

• Prepare and validate financial reports, including: outstanding principal and accrued interest, delinquency and default aging reports, cash receipts and collection activity, and cancellation and rehabilitation activities.

• Investigate and resolve discrepancies between servicing reports and accounting systems.

• Support year-end closing processes and aid in the preparation of financial statements and necessary federal reports.

• Provide documentation and schedules for both internal and external audits.

• Ensure adherence to Federal Perkins Loan Program regulations and institutional policies.

• Monitor account activity to guarantee proper billing, diligent collection practices, and compliance with regulatory timelines.

• Maintain audit-ready records for all financial transactions and account adjustments.

• Identify weaknesses in processes and suggest improvements to enhance internal controls and reporting accuracy.

• Conduct quality reviews of account transactions and portfolio data.

• Track trends in delinquency, deferment, forbearance, cancellation, and default activity.

• Assist with data validation during upgrades to systems or transitions in servicing.

• Provide validated datasets, data dictionaries, and notes on data lineage that bolster analysts’ confidence in metrics.

• Highlight data quality issues and trend signals that inform analysts’ segmentation, stratification, and scenario analyses.

• Collaborate on User Acceptance Testing (UAT) test cases and sign-offs to ensure the accuracy of analytical reports through system updates.

⛳️ Requirements

• Minimum of 2 years of relevant experience.

• Demonstrated experience in business or accounting management within loan servicing or finance.

• High school diploma or an equivalent accredited certification, such as a GED.

• Proficiency in financial reporting systems and reconciliation tools.

• Ability to acquire and maintain a Public Trust clearance.

🏝️ Benefits

• 401(k) with immediate vesting.

• Paid Federal Holidays.

• Tuition Reimbursement.

• Medical Insurance, including Vision and Dental Insurance.

• Employer-Paid Short-Term and Long-Term Disability.

• Employer Paid Life Insurance.

• Supplemental Life Insurance.

• FSA/HSA Programs.

• Commuter Benefits Program.

• Adoption Assistance Program.

• Employee Assistance Program (EAP).

• Caregiver Support Program.

• Health Advocacy Program.

• Financial Wellbeing Support.