Position Title: Bursar
Job Summary: The bursar is responsible for managing the financial affairs of the organization, ensuring financial stability, accuracy, and compliance with relevant regulations and policies. They oversee billing, collections, budgeting, financial reporting, and cashiering functions. Reports to the Chief Financial Officer.
Key Responsibilities:
- Financial Management:
- Develop and implement financial policies and procedures.
- Prepare annual budgets and financial forecasts.
- Monitor expenditures and revenue streams to ensure financial health.
- Identify opportunities for cost savings and revenue generation.
- Billing and Collections:
- Oversee the billing process for tuition, fees, and other charges.
- Coordinate with departments to ensure accurate and timely invoicing.
- Manage collections processes and follow up on overdue accounts.
- Cash Management:
- Supervise cash handling procedures and cashiering activities.
- Maintain accurate records of cash transactions.
- Monitor bank accounts and reconcile statements.
- Financial Reporting:
- Prepare financial statements and reports for management and external stakeholders.
- Analyze financial data to identify trends and variances.
- Ensure compliance with accounting standards and regulatory requirements.
- Student Financial Services:
- Provide financial counseling and support services to students and families.
- Administer financial aid programs, including scholarships, grants, and loans.
- Coordinate with financial aid office to ensure timely disbursement of funds.
- Compliance and Risk Management:
- Ensure compliance with tax regulations, accounting principles, and internal policies.
- Identify and mitigate financial risks.
- Stay abreast of changes in financial regulations and best practices.
- Supervision and Leadership:
- Recruit, train, and supervise staff in the bursar's office.
- Foster a collaborative and supportive work environment.
- Provide guidance and mentorship to staff members.
Qualifications:
- Bachelor's degree in accounting, finance, business administration, or related field (Master's degree preferred).
- CPA or other relevant professional certification.
- Previous experience in financial management, preferably in an educational institution.
- Strong analytical and problem-solving skills.
- Excellent communication and interpersonal abilities.
- Proficiency in financial software and Microsoft Office suite.
- Knowledge of relevant laws, regulations, and compliance requirements.
Working Conditions: The bursar typically works in an office environment, often within a college or university setting. The position may require occasional evening or weekend work during peak periods, such as registration or financial aid disbursement.