Summary
Overview
Work History
Education
Skills
Certification
Training
References
Personal Information
Timeline
Generic

ERIC SCHMIDT

Kihei

Summary

Dynamic financial analyst with extensive experience at the U.S. Department of Education, excelling in financial analysis and policy evaluation. Proven track record of enhancing compliance and operational efficiency, while fostering effective communication and collaboration. Expertise in audit compliance and strategic financial planning, driving significant improvements in institutional management and student financial aid programs.

Overview

32
32
years of professional experience
3
3

Certifications

Work History

FINANCIAL ANALYST

U.S. Department of Education – Federal Student Aid
Chicago
10.2023 - Current
  • Conducted 150+ financial analyses of institutions of higher education.
  • Provide leadership in the evaluation, assessment, and improvement of institutional higher education programs and management systems by applying a wide range of qualitative and quantitative techniques.
  • Exercise operational oversight and responsibility for analyzing relevant policies and strategies impacting financial aid.
  • Evaluate policies, processes, procedures, and financial information including program reviews, audits, financial statements, and other related documents to determine vulnerabilities in institutional management and in the administration of Title IV programs.
  • Exercise administrative responsibility in providing leadership, direction, expert guidance, and accountability for programs, services, and activities related to student attainment of educational goals through financial aid resources.
  • Evaluate financial aid programs to ensure adherence to laws, regulations, policies, and guidelines of the federal government, state government, and each University.
  • Evaluate processes and procedures to ensure accuracy and efficiency of Title IV aid disbursement as well as submitting annual fiscal and other programmatic reports as required by federal, state, or University requests.
  • Maintain working knowledge of principles, practices, and techniques in the area of student financial aid, student support services, and student affairs administration as demonstrated by the broad knowledge of the full range of pertinent standard and evolving concepts, principles, and methodologies.
  • Resolve wide-ranging complex problems using creative reasoning and logic to accurately determine the cause of the problems and the resolution of the problems in an effective, innovative, and timely manner.
  • Establish and maintain effective working relationships with internal and external organizations, schools, team leaders, and individuals.
  • Implement and monitor management information systems for the analysis and tracking of program data, long-and short-range plans, guidelines, and priorities established by statutes, White House executive orders, the department, or institutional management.

INSTITUTIONAL REVIEW SPECIALIST

U.S. Department of Education – Federal Student Aid
Chicago
11.2014 - 09.2023
  • Conducted 250+ Compliance Audit Reviews, while also performing tasks related to Freedom of Information Act (FOIA) research duties.
  • Provided administrative leadership and vision to develop new or modify existing financial aid policy implementation and techniques to promote the Partner Connect system implementation.
  • Independently completed 15+ program reviews covering a wide range of higher education institutions, including a public state system giving rise to an over one-million-dollar liability assessment.
  • Developed best practices and models/templates for compliance with federal regulations involving financial aid, especially related to financial aid policies and information.
  • Provided leadership and administrative assistance for other areas of student success, as assigned.
  • Communicated effectively and worked closely with financial aid leads, including institutional financial aid offices, to provide leadership in the formulation of financial aid policies, strategies, technical solutions, and training for financial aid.

LOAN ANALYST

U.S. Department of Education – Federal Student Aid
Chicago
11.2010 - 11.2014
  • Performed over eight Title IV audit reviews, while also performing regular administrative law oversight responsibilities.
  • Developed sampling techniques to determine the extent of non-compliance with Federal regulations.

FINANCE COMPANY CONTROLLER

CAPITAL FIRST REALTY, INC.
Chicago
09.2007 - 11.2010
  • Identified loan servicer overpayments of $200,000.
  • Integrated Information Systems (IS), reducing staffing requirement from four to just two personnel: saved department $175K+ in associated labor costs alone.
  • Supervise all the work of four accounting professionals, including two senior accountants and one staff accountant.
  • Manage general accounting and budgeting for a full service, low and medium income, regional, manufactured home real estate management, financing and development conglomerate with assets valued at $300M+, including 11 mortgage finance companies valued at $30M.

SENIOR ACCOUNTANT

CAPITAL FIRST REALTY, INC.
Chicago
07.2006 - 09.2007

ASSISTANT DIRECTOR – GRANT AND CONTRACT ACCOUNTING

ILLINOIS INSTITUTE OF TECHNOLOGY
Chicago
07.2002 - 01.2006
  • Doubled staff while reducing labor costs by 25% by recruiting graduate students with strong professional skills as interns, benefiting both students and the University.
  • Rated outstanding/excellent by reviewers in every performance category.
  • Supervised a staff of nine accountants and clerical staff as Interim Director to lead research administration accounting. Oversaw a $45M budget to fund 450 concurrent research projects: averaging $100K each.
  • Designed complete revision of grant submission, award, and execution, ensuring contracts maintained their compliance with federal standards; successfully presented all university department heads to gain approval for implementation.
  • Designed and managed system improvements that eliminated a 400-contract backlog. Improved productivity through improved interdepartmental communication, creating increased collaboration among scientists and unambiguous integration of each department’s needs into reporting systems.
  • Designed and implemented all departmental policies and procedures for practical, ethical, and cost-effective distribution compatible with institutional and governmental policy, practice, and statute, including compliance with the Sarbanes Oxley Act of 2002 (SOX).

IS AUDIT MANAGER

US Foodservice
Lisle
07.1993 - 07.1997

Education

MEd - Education

University of Illinois at Chicago
Chicago, Illinois

B.A. - Accounting

Michigan State University
East Lansing, Michigan

Skills

  • Microsoft Office Suite
  • MS Access
  • Partner Connect
  • PeopleSoft
  • Banner
  • EZ-Audit
  • FAA Access to CPS Online
  • SQL
  • HTML
  • Financial analysis
  • Policy evaluation
  • Quantitative techniques
  • Audit compliance
  • Fiscal reporting
  • Regulatory compliance
  • Data management
  • Risk assessment
  • Strategic planning
  • Team collaboration
  • Issue resolution
  • Effective communication
  • Critical thinking
  • Project leadership
  • Process improvement
  • Project management
  • Flexible team player
  • Investment analysis
  • Preparing budgets
  • Variance resolution
  • Portfolio performance
  • Adobe software
  • Administrative support
  • Financial consulting
  • Advanced computer skills
  • Report creation
  • Budget support
  • Cost-benefit analysis
  • General ledger accounting
  • Quantitative analysis expertise
  • GAAP principles expertise
  • Variance analysis
  • Research and data analysis
  • Expenditure review
  • Budgetary planning
  • Strategic financial planning
  • Valuation experience
  • Cashflow processes
  • Microsoft Excel
  • Staffing patterns
  • Statistical analysis
  • Auditing procedures
  • Report preparation
  • General ledger journal entry
  • Organizational management principles
  • Customer relationship management
  • Credit analysis
  • Project planning
  • Cash flow management
  • Analyzing performance
  • Query writing
  • Tax planning
  • Portfolio management
  • Manpower planning
  • Preparing memos
  • Business intelligence tools
  • Expense and revenue analysis
  • Financial software
  • Financial statements expertise
  • Fiscal oversight
  • Documentation skills
  • Forecasting trends
  • Analytical research
  • GAAP compliance
  • Finance

Certification

Passed Certified Public Accountant Examination

Passed Certified Internal Auditor Examination

Passed Certified Information Systems Auditor Examination

Training

  • Statistical Research in the Field of Education
  • Essentials of Quantitative Inquiry in Education
  • Research Design in Education
  • AICPA’s Annual Accounting and Auditing Workshop
  • Internal Control Essentials for Financial Managers Accountants, and Auditors
  • Forensics and Financial Fraud: Real-World Issues and Answers
  • Quality Control Issues in an Audit

References

  • Jeremy Early, Acting Director/Division Chief, Office of Institutions of Higher Education Oversight and Enforcement, U.S. Department of Education, 230 South Dearborn Street, Chicago, Illinois, (202) 227-0469, Jeremy.Early@ed.gov
  • Jason Charlton, Team Chief, Office of Institutions of Higher Education Oversight and Enforcement, U.S. Department of Education, 230 South Dearborn Street, Chicago, Illinois, (202) 215-8938, Jason.CharltonEarly@ed.gov
  • Kelli Goers, JD, Team Chief, Office of Institutions of Higher Education Oversight and Enforcement, U.S. Department of Education, 230 South Dearborn Street, Chicago, Illinois, (202) 987-0255, Kelli.Goers@ed.gov

Personal Information

Citizenship: U.S. Citizen

Timeline

FINANCIAL ANALYST

U.S. Department of Education – Federal Student Aid
10.2023 - Current

INSTITUTIONAL REVIEW SPECIALIST

U.S. Department of Education – Federal Student Aid
11.2014 - 09.2023

LOAN ANALYST

U.S. Department of Education – Federal Student Aid
11.2010 - 11.2014

FINANCE COMPANY CONTROLLER

CAPITAL FIRST REALTY, INC.
09.2007 - 11.2010

SENIOR ACCOUNTANT

CAPITAL FIRST REALTY, INC.
07.2006 - 09.2007

ASSISTANT DIRECTOR – GRANT AND CONTRACT ACCOUNTING

ILLINOIS INSTITUTE OF TECHNOLOGY
07.2002 - 01.2006

IS AUDIT MANAGER

US Foodservice
07.1993 - 07.1997

MEd - Education

University of Illinois at Chicago

B.A. - Accounting

Michigan State University