Job Overview

Summary

Join our Team! Federal Student Aid (FSA) is Funding America's Future, One Student At A Time Vision: To be most trusted and reliable source of student financial aid, information and services in the nation

How would you like to work for the largest organization within the Department of Education (ED) with approximately 1,000 employees located in Washington, DC and in 10 regional offices throughout the United States? That organization is the Office of Federal Student Aid (FSA), which has oversight of the nation's largest source of student aid for almost 11 million postsecondary students and their families. FSA also manages or oversees more than $556 billion in outstanding loans - representing almost 95 million student loans to more than 30 million borrowers. Just think: In addition to managing and monitoring ED's billions of dollars of student aid, you will be among a team of experts who will focus on innovations for upgrading student aid delivery and servicing operations, vendor and contract management, budgeting and cost control, and financial and operational management all while providing quality customer service. 

This position is located in any one of the established division offices in the Program Compliance Office, Financial Institution Oversight Service Group (FIOSG).  Program Compliance Office is responsible for administering a program of monitoring and oversight of the postsecondary educational institutions, guaranty agencies, lenders, and servicers participating in the Department's Title IV programs.  The Division offices evaluate and perform program reviews of participating lenders, servicers, secondary markets, and guaranty agencies and provide assistance to those recipient groups in correctly implementing the Federal Family Education Loan (FFEL) program administered by FSA.

The position is responsible for evaluating account categories, analysis, evaluation and synthesis of authoritative alternatives/recommendations.  The Guarantor and Lender Review Specialist develops alternatives on the impact of alternative recommendations to management

At the grade 9 level, employees perform tasks under supervision or in a trainee capacity.  This is a development position with full potential to grade 12.  

Duties

As a Guarantor and Lender Review Specialist, you are a valued member of a dynamic team. You are in key role from day one and your work has visible impact. You will conduct reviews of participating guaranty agencies, secondary markets,lenders, and loan servicing organization' student loan profiles.  Review administrative and fiscal policies; interest billing and other Federal reporting documents; individual loan files; and financial statements.  You will conduct reviews of participating institutions for compliance with legislation, regulations, standards, and procedures.  Review institutional procedures and record maintenance.   Conduct reviews of guaranty agencies assuring statutes, regulations, policies and procedures are in compliance with FFEL program.  Determines when findings of a review require assistance from the Office of the Inspector General (OIG).  

Discuss review process, findings, violations with senior officials of lending institutions, guaranty agencies, loan service organizations, co-workers, other Federal officials, students, and the general public; and make recommendations with institutional and agency executives. 

You will prepare written reports of program review findings, conduct and participate in workshops, seminars, and conferences; provide assistance in the interpretation of laws and regulations; recommend changes or improvements in techniques, methods, and materials; provide orientation and training to new program personnel; identify and recommend solutions to problems; and make decisions relative to the intent of regulations for which precedent policy is not available.