Lake Superior State University
Lake Superior State University
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FLSA Designation
Date Issued: 1998-10-01
Business Operations
Title: Supervisor of Loans/Account Receivable/Inventory
Function and Responsibility
Under direction from the Director of Business Operations, to conduct a comprehensive student loan and accounts receivable collection program, work with administrative computing to maintain and update SCT’s loan management system (LMS) or any subsequent software program, to maintain accurate and complete records in compliance with federal guidelines; and to maintain an inventory of all University owned, moveable equipment.
Duties and Responsibilities
Keep up-to-date and implement all regulations and changes in guidelines of the Federal NDSL (National Direct Student Loan) and Nursing Loans; maintain current student loan records; prepare repayment schedules and conduct exit interviews for students leaving school; send letters to students nearing end of grace period, monthly notices to those in repayment status, and late notices to delinquent borrowers.

Maintain current list of past due accounts and determine if deferment, cancellation, or hardship regulations can be applied to account; compute appropriate cancellation amounts and approve deferment forms; develop follow-up system and contact techniques to locate lost borrowers; assign accounts to collection agencies as necessary and determine agencies’ effectiveness.

Prepare yearly audit reports; review repayments received, calculate interest, late fees and balances; prepare financial statements and perform related analysis.

Evaluate present accounting and operational systems and recommend changes if needed; initiate and process journal entries to proper accounts; prepare and submit annual debt management reports.

Develop and implement procedures for the identification and maintenance of records of moveable equipment on campus, including items purchased in previous years, items purchased in the current year, deletions of scrapped or disposed-of equipment, and moves of equipment from one location to another.

Prepare and distribute to department heads a copy of the current inventory of their respective departments on an annual basis. Implement procedures for the rapid identification of equipment missing from inventory.

Allocate other costs, such as freight or installation charges, to the respective pieces of equipment; determine which items are taggable equipment and which are supplies in accordance with University policy. Review all purchase orders for possible taggable equipment, tag and identify the equipment as it is received, check with receiving and department heads on purchases of equipment not tagged as to reason or location.

Reconcile equipment purchases with equipment inventory; evaluate inventory procedures and recommend changes as needed; advise the Director of Business Operations of problem areas or policy discrepancies.

Supervise student assistants. Perform related duties as assigned.
Associate degree in accounting and two to three years of experience in similar or related field; or six years of similar or related experience. Strong verbal/written interpersonal communication skills required. Decision making ability.
Physical and Mental Demands
Adequate physical fitness to be able to sit and concentrate for long periods of time; use of gross motor skills to perform supervisory and organizational duties; use of fine motor skills to operate computer; problem solving ability; ability to understand and work with numbers; ability to see, hear, and speak with or without the use of aids to perform normal office tasks.
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