It's called a "linguistic review" or a "monolingual review", or sometimes a "native review".
It's not paid as well as source vs. target review; put otherwise, a higher throughput (words per hour) is expected.
It includes things like running a spellcheck, fixing grammar, syntax, punctuation, etc., getting the articles right, so you're correct - it sounds like something an English major could do.
However, agencies like to place this sort of work with someone who has some knowledge of the source language in case that person is motivated to contribute some bilingual review effort. That comes up when the target is a word salad that cannot be deconvoluted without some knowledge of the source. That kind of thing should have been sorted out during the bilingual review, but...
I believe that this type of final review is mandated under some ISO guidelines for commercial translation.
Matthew Schlecht, PhD
Word Alchemy Translation, Inc.
Newark, DE, USAwordalchemytranslation.com