Conversion Specialist

Position Title: Conversions Specialist

Department: Loan Servicing

Reports To: Loan Servicing Supervisor

Grade: 14

Hours: 8am-5pm

What You Will Do

Conversion Specialists impact borrower, FSA and school satisfaction by coordinating loan transfers to MOHELA's systems. General responsibilities include audit and input data into MOHELA's system using understanding and knowledge of borrower accounts and servicing requirements.

Essential Duties and Responsibilities

1. FFELP Purchases - Review/Organize/Write-Up Files - Organize and review education loan accounts for repurchase to determine purchase and/or servicing eligibility. Identify accounts not in compliance. Use Access Database to input repurchase quote data and compile repurchase reports. Prepare loans for processing. Perform all aspects of placing student loan information onto the automated servicing system, loan detail input and cosigner information. Perform visual quality control requirements prior to loan activation on the servicing system. React to daily production reports, including system generated reports, making any necessary corrections.

1. DL Transfers - Audit Federal student loan assets and prepare transferred accounts for release to servicing. View Page Center validation reports. Review edits, document and process data corrections as needed. Read industry standard file layout EA27 Version 4.0 to resolve data discrepancies. Work with sending servicers to resolve any data issues and provide any additional information needed to complete the transfer. Meet required deadlines for releasing Federal loans to servicing to prevent MOHELA from incurring a negative financial impact. Have a consistent understanding of how Direct Loans will be converted and be familiar with the regulatory guidelines set forth by FSA.
2. Cash Loans - Reload loans from borrower to cosigner (and back again) when borrower is in BK status; reload loans to add judgment disbursements as directed by the Circuit Courts.
3. TPD - Transfer borrowers/loans that pass Pre-Medical review for Temporary Permanent Disability to the TPD system. Submit Joint Consolidation borrower applications that pass Pre-Medical review for TPD to the TPD servicer for evaluation via excel spreadsheet. Submit Veteran's TPD applications to the TPD servicer via the Veteran's TPD website.
4. Recalled Loans - Use SAS query to identify DMCS or TPD recalls and work with sending servicer to coordinate transfer of loan(s) back to Mohela for servicing.
5. Balance Reconciliation Process - Perform quality control, reconciliation, balancing, conversion and closing activities associated with the purchase or transfer of the student loan portfolios.
6. Month End FSA Reporting - Validate SAS queries generated by Systems for FSA month end reporting.
7. Research - Review financial discrepancies as identified by Accounting after loans release to servicing and take necessary steps to correct. Review requests for courtesy repurchases and provide recommendation for repurchase to management. Work with other MOHELA departments to review and correct loan data discrepancies.

What Experience You Will Bring

• 6 months of experience at MOHELA or released from customer service training
• High School education or GED; some college coursework preferred
• Preference for COMPASS knowledge
• Strong analytical skills
• Excellent data entry skills (type 35-40 wpm)
• Strong math aptitude
• Independent worker with ability to meet deadlines
• Ability to work in multi-task and heavy volume environment

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions

We are an EEO/AA Employer. We do not discriminate in hiring on the basis of race, color, national origin, sex, gender identity, sexual orientation, religion, age, disability, protected veteran status, or any other characteristic protected by federal, state or local law.

To build a diverse workforce, MOHELA encourages applications from individuals with disabilities, minorities and veterans.

In compliance with the American Disabilities Act Amendment Act (ADAA), if you have a disability and would like to request an accommodation in order to apply for a position with MOHELA, please call please call 636.733.3700 x3571, TDD 7-1-1, or email:hr@mohela.com