Bursar job description

A Bursar is a senior financial officer responsible for managing an institution's revenue, billing, and financial operations, ensuring fiscal integrity and supporting the organization's financial sustainability through effective treasury management.

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What is a Bursar?

A Bursar is a key financial administrator typically found in educational institutions, universities, and some non-profit organizations. This professional serves as the chief financial officer for student accounts and institutional funds, overseeing all aspects of revenue collection, cash management, and financial record-keeping. The Bursar plays a critical role in maintaining the financial health of the organization by ensuring proper handling of tuition payments, fees, and other revenue streams while maintaining compliance with financial regulations and institutional policies.

What does a Bursar do?

A Bursar manages all student billing and account receivables, processes tuition payments and refunds, and maintains accurate financial records. They develop and implement billing procedures, oversee cash management strategies, and coordinate with financial aid offices to ensure proper application of scholarships and grants. The Bursar also generates financial reports, monitors account aging, handles collections for delinquent accounts, and ensures compliance with federal and state financial regulations. Additionally, they may supervise billing staff, implement payment technology systems, and provide financial counseling to students and families regarding payment options and account status.

Job Overview

The Bursar is responsible for managing all aspects of student accounts, tuition billing, payment processing, and financial transactions within the educational institution. This role oversees cash management, develops and implements billing policies, ensures compliance with federal and state financial regulations, and provides exceptional customer service to students and families regarding financial matters.

Bursar responsibilities include:

1. Manage and oversee all student accounts receivable, tuition billing, and payment processing systems 2. Develop and implement institutional billing policies, payment plans, and collection procedures 3. Ensure compliance with Title IV regulations, FERPA, and other federal/state financial aid requirements 4. Oversee cash management activities including daily deposits, reconciliation, and banking relationships 5. Prepare and analyze financial reports on student accounts, receivables, and cash flow projections 6. Manage third-party billing relationships including corporate sponsorships, military benefits, and external agencies 7. Coordinate with Financial Aid Office to ensure accurate application of awards and scholarships 8. Implement and maintain student information system modules related to student accounts 9. Develop and deliver financial literacy programs and payment counseling for students and families 10. Supervise bursar office staff including training, performance management, and workflow allocation
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Must-Have Requirements

1. Bachelor's degree in Accounting, Finance, or Business Administration 2. Minimum 5 years of experience in bursar operations or student financial services 3. Comprehensive knowledge of federal financial aid regulations and Title IV compliance 4. Proficiency with student information systems (Banner, PeopleSoft, or similar) 5. Strong understanding of generally accepted accounting principles (GAAP) 6. Experience with cash management and treasury functions 7. Demonstrated supervisory and team management experience 8. Excellent analytical and problem-solving skills with financial data

Preferred Qualifications

1. Master's degree in Business Administration, Accounting, or Higher Education Administration 2. Experience in both public and private higher education institutions 3. Certification as Certified Public Accountant (CPA) or Certified Managerial Accountant (CMA) 4. Experience with system implementation or major module upgrades 5. Knowledge of international student billing and payment processing 6. Background in developing and delivering financial literacy programs 7. Experience with electronic payment systems and payment plan administration 8. Familiarity with 1098-T reporting requirements and compliance

Bonus Skills

1. Experience with international wire transfers and foreign currency processing 2. Knowledge of state-specific tuition waiver programs and regulations 3. Proficiency in advanced Excel modeling and financial analysis 4. Experience with document imaging and workflow automation systems 5. Background in auditing procedures and internal controls implementation 6. Multilingual capabilities for diverse student population support 7. Certification in accounts receivable management 8. Experience with crisis management and difficult financial conversations

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