Position Summary:
The Senior Assistant Director for Collections and Loans is responsible for delinquency management services preventing past due accounts from reaching bad debt status. This position will manage student payment plans for past due accounts internal and external with third party vendors. The Senior Assistant Director for Collections and Loans works closely with the Bursar | Director of Student Accounts, Budget and Finance, other university partners, and outside agencies to ensure internal recovery efforts are successful. The Senior Assistant Director will perform collections reporting, and analytics, maximize collection strategy and efforts ensuring receivables are maintained and within established metric goals. The Senior Assistant Director for Collections and Loans is also responsible for all credit and collection activities relating to student accounts including Federal Perkins, Massachusetts No Interest (MNIL), and Institutional Loans.

Under the supervision of the Bursar | Director of Student Accounts, the Senior Assistant Director for Collections and Loans is responsible for the college's past due accounts receivable, internal recovery efforts for the collection of all past due student accounts, and the collection of loans, including sending past due follow-up inquiries, negotiating with past due accounts and referring accounts to collection agencies. This also includes focusing on achieving revenue recovery goals while delivering excellent customer service to ensure customer satisfaction and retention.

Essential Functions:

• Send and monitor delinquent accounts between college and collection agencies

• Formulate, recommend, and implement changes to policy or procedure for a more streamlined collections process

• Maintain documentation to assist agencies in the collection of outstanding accounts

• Manage student outreach plan to ensure students are appropriately informed of account information, clarify delinquent balances, explain financial obligations and past due payment plan terms

• Adheres to rules and guidelines surrounding collections activities, Fair Debt Collections Practices Act (FDCPA), and internal applicable policies and procedures

• Acts as a liaison between the university and outside loan servicing company (Federal Perkins Loans and Institutional Loans)

• Responsible for past due balance payment plan setup and collection of overdue accounts

• Provide backup for collection agency liaison for litigation and delinquent accounts

• Assists with alternative loan certifications in partnership with the Financial Aid Office

• Manages and oversees Massachusetts No Interest Loan (MNIL) program

• Manage and generate yearly tax 1098T forms for student population

• Serves as back up to the Associate Director (cashier functions)

• Other duties that may be assigned

Required Qualifications:

• Bachelor's Degree preferred 

• Two to four years of credit and collection experience preferred

• General accounting office experience and previous work on a computerized accounting system preferred

• One to three years' experience required in handling cash receipts and deposits

• Demonstrated ability to collect funds

Excellent written and verbal communication skills

• Ability to present ideas and information clearly to stakeholders

• Skilled in writing reports, project documentation, and status updates

Negotiation Skills:

• Experience in negotiating project deliverables, deadlines, and resource allocation

• Ability to manage client and vendor relationships with diplomacy and tact

• Ability to identify issues and create practical solutions quickly

• Experience in troubleshooting and resolving conflicts within teams or projects

Strong organizational skills with the ability to prioritize tasks effectively

• Ability to manage multiple projects simultaneously and meet deadlines

• Experience with time-tracking tools and software

Attention to Detail:

• Strong focus on accuracy in work, especially in planning and reporting

• Ability to spot issues or discrepancies and address them proactively

• Strong computer skills required in Microsoft Word and Excel

Work Environment:
Professional office environment

This job operates in a professional office and is eligible for hybrid work. A minimum of 3 days of on-campus work is required for this role. Actual schedule is subject to change based on departmental needs. 

This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.

While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to stand; walk; use hands to finger, handle or feel; and reach with hands and arms.

Attendance at training or conferences once or twice a year.
 

Position Details:

At this time, the university is unable to sponsor applicants for H-1B visas.

The job grade for this position is Grade 5.   

The expected wage range for this position is between $58,000 and $70,000 which reflects what we reasonably expect to pay for this role.  

Inclusive Excellence at Wentworth

Inclusive Excellence is one of the four pillars of the Strategic Plan. Actively and intentionally cultivating a diverse and culturally competent institution where each member has the opportunity and support to reach their full potential and make contributions to our campus community and beyond is Inclusive Excellence at Wentworth.

To find out more about the Wentworth’s commitment to Inclusive Excellence, please visit the website https://wit.edu/about/inclusive-excellence.

All applicants have the right to accessibility support and accommodations. To request accessibility support or accommodations, contact the Executive Director of Equity and Compliance, Catlin Wells, at wellsc1@wit.edu.

E-Verify for Employment Eligibility Verification (Form I-9)

Wentworth participates in E-Verify. E-Verify is an internet-based system that compares information from your Form I-9 to records available to the U.S. Department of Homeland Security (DHS) and Social Security Administration (SSA) to confirm that you are authorized to work in the United States.

About Colleges of Fenway - Wentworth Institute of Technology

Colleges of the Fenway is a collaborative effort of five neighboring Boston-based colleges in the Fenway area. This collaboration was created to add value to student academic and social life while seeking innovative methods of investing in new services and containing the costs of higher education. Collectively, the colleges represent more than 12,000 undergraduate students, comprising 16.2% of the total Boston population of undergraduates attending four-year colleges, more than 700 full-time faculty, and 2,300-course offerings.

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