Financial Assistant (Hybrid)

Department: Student Finance

Salary/Grade: NEX/11

The expected salary for this position is between $25.00 - $27.00 per hour, in alignment with departmental equity and market data.

Job Summary:

Reporting to the Manager of Loan Servicing and Collections, the Financial Assistant serves as a primary point of contact for borrowers, campus partners, and external stakeholders regarding institutional loan accounts, repayment options, billing, payment processing, delinquency resolution, and related loan servicing policies. This role provides accurate, timely, and customer-focused support through multiple service channels, including phone, email, walk-ins, and scheduled appointments. The Financial Assistant performs day-to-day loan servicing activities using advanced knowledge of institutional loan programs, servicing practices, and applicable regulations. The position exercises independent judgment, analysis, and problem-solving skills to interpret policies, resolve borrower inquiries, process account transactions, and address routine and moderately complex loan servicing issues. Through professionalism, attention to detail, and a commitment to service excellence, this position helps ensure accurate loan administration, regulatory compliance, and consistent, high-quality borrower experience while supporting the overall mission of Loan Servicing and Collections.

Please note:

Supervisor provides objectives & deadlines. Work is reviewed for fulfillment of objectives & deadlines & overall compliance with policy & procedures. EE completes some activities without direction, informing supervisor only of potentially controversial matters, &/or far-reaching implications.

Specific Responsibilities:

Analysis, Statements & Reporting:

• Provides reports to managers on tracking payment status & notification when balances & activities do not comply with policy and procedures or are inadequately prepared.
• Provides day-to-day financial and administrative support related to institutional loan accounts, including payment processing, account maintenance, billing, reconciliations, and borrower account resolution in accordance with established policies and procedures.
• Reviews and analyzes loan account activity to identify discrepancies, resolve servicing issues, and escalate complex or sensitive matters to management as appropriate.
• Creates reports & queries; reviews for incomplete records, data entry errors, &/or accounting mistakes.
• Exercises sound judgment and problem-solving skills to research and resolve non-routine loan servicing issues while adhering to established guidelines, policies, and regulatory requirements.

Transactions:

• Completes & maintains transactions in enterprise systems.
• Provides review and oversight of all types of financial transactions, some of which may be complex in regard to size or duration of account.
• Reviews; ensures approval based on alternatives regarding practice & policy.
• Applies institutional policies, industry best practices, and applicable federal and state regulations to process loan transactions, respond to borrower inquiries, and ensure compliance with lending requirements. Troubleshoots problems.
• Performs vendor/account research as needed.
• Obtains additional information from or provides instruction & guidance for customers/vendors; corrects or escalates.
• Provides financial policy interpretation to determine the validity of customer requests & ensure compliance.
• Contacts outside agencies, to obtain clarification of rules &/or regulations.
• Enters information into database.

Administration:

• Provides excellent customer service, over the phone and in person.
• standard questions regarding status of requests, policies and procedures for processing transactions, &/or instructions for completing paperwork.
• Delivers accurate, timely, and professional customer service to borrowers and internal stakeholders through multiple communication channels, ensuring a positive servicing experience and clear guidance on loan repayment options and account status.
• Performs administrative and clerical functions, including maintaining accurate loan records, documenting borrower interactions, processing account updates, and ensuring data integrity within loan servicing systems
• Supports operational workflows by managing service requests, coordinating documentation, monitoring loan servicing queues, and assisting with departmental priorities to ensure efficient, timely processing.

Training:

• Participates in training, cross-training, quality assurance initiatives, and
• continuous process improvement efforts to enhance operational efficiency, maintain regulatory compliance, and support departmental goals.
• Creates & provides financial training on practice, procedure, policy &/or
• laws & regulations to customers.

Miscellaneous

Performs other duties as assigned.

Minimum Qualifications:

• High school diploma or the equivalent.
• 3 years of accounting &/or bookkeeping or other relevant experience.

Minimum Competencies: (Skills, knowledge, and abilities.)

• Excellent computer skills including proficiency in the use of spreadsheet, database, and word processing software.
• Familiarity with financial reporting.

Benefits:

At Northwestern, we are proud to provide meaningful and competitive benefits. The available benefits package for this position will include health, dental, vision, disability, and life insurance; paid vacation and holidays; paid medical/sick and parental leave; tuition benefits for the employee and dependents; pre-tax and flex spending accounts for commuting and dependent care; generous retirement savings options; and wellness programs. For a comprehensive overview of available benefits, including eligibility details, visit us at https://www.northwestern.edu/hr/benefits/index.html to learn more.

Work-Life and Wellness:

Northwestern offers comprehensive programs and services to help you and your family navigate life's challenges and opportunities, and adopt and maintain healthy lifestyles.

We support flexible work arrangements where possible and programs to help you locate and pay for quality, affordable childcare and senior/adult care. Visit us at https://www.northwestern.edu/hr/benefits/work-life/index.html to learn more.

Professional Growth & Development:

Northwestern supports employee career development in all circumstances whether your workspace is on campus or at home. If you're interested in developing your professional potential or continuing your formal education, we offer a variety of tools and resources. Visit us at https://www.northwestern.edu/hr/learning/index.html to learn more.

Northwestern University is an Equal Opportunity Employer and does not discriminate on the basis of protected characteristics, including disability and veteran status. View Northwestern's non-discrimination statement. Job applicants who wish to request an accommodation in the application or hiring process should contact the Office of Civil Rights and Title IX Compliance. View additional information on the accommodations process.

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