Cash Application Specialist

Position Summary:

Cash Application Specialist plays a vital role within the Finance organization by ensuring accurate processing and reconciliation of incoming payments with outstanding invoices. This role is integral to the order-to-cash process, encompassing financial transactions, customer payment reviews, and close collaboration with collections teams for their designated Line of Business (LoB).

Role summary and Key Areas of Responsibility

• Responsible for accurately processing and reconciling incoming payments with outstanding invoices in financial transactions.
• Managing financial transactions, reviewing customer payment information, researching payment histories, and reconciling customer cash receipts
• Answering customer inquiries, processing receipt refunds, and improving processes
• Daily processing of cash receipts and postings to customer accounts, including check payments
• Identifying unapplied payments and handling bank fee charge-offs
• Maintaining records for auditing purposes, including remittances and bank statements taking active part of SOX reviews.
• Supporting management and addressing relevant issues related to cash receipts, applications, and collections.
• Actively working with Collections Analysts on specific portfolio of customers
• Collaboration with Cash Management to ensure timely reconciliation of bank accounts.

Skills and Qualifications needed to be successful in this role:

• Bachelors degree in business or related field
• Minimum of one year of experience as a cash application/collection specialist; or any equivalent
• Combination of acceptable training, education, and experience
• Must possess effective written and verbal communications skills.
• Should be able to demonstrate PC proficiency in MS Word and Excel as well as learn any corporate or industry software used by the position.
• Basic accounting skills required.
• Fluent in both written and spoken in English (Knowledge of foreign languages is a plus)
• Customer oriented
• Strong work Ethic

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