Cash Applications Specialist

Cash Applications Specialist Overview

• The Cash Applications Specialist plays a vital role in managing daily cash receipts and ensuring accurate financial record maintenance.
• This contract position offers an opportunity for quick conversion to permanent employment based on performance.
• Work closely with Treasury Management and Collections teams to resolve cash receipt issues effectively.
• Handle payments through various channels such as billing systems, credit cards, lockboxes, mailed checks, ACH payments, and bank wires.
• Maintain accurate records for auditing purposes, including filing remittances and check copies.
• Collaborate with customers to address account discrepancies and ensure payment accuracy.
• Gain exposure to advanced financial systems and processes, enhancing professional expertise.
• Contribute to a dynamic and fast-paced environment with strict adherence to company policies.

Cash Applications Specialist Key Responsibilities & Duties

• Process daily cash receipts, including posting payments and addressing unapplied amounts.
• Maintain accurate financial records for auditing and reporting purposes.
• Handle NSF payments, refunds, and account adjustments efficiently.
• Collaborate with Treasury Management and Collections teams to resolve cash application issues.
• Communicate with customers to address account discrepancies and ensure payment accuracy.
• Process lockbox exceptions and ensure proper allocation of funds.
• Support daily reporting to Treasury Manager and maintain organized documentation.
• Utilize Microsoft Office and online banking systems for efficient workflow management.

Cash Applications Specialist Job Requirements

• High School Diploma or GED required; associate or bachelor’s degree preferred.
• Minimum of 2 years of experience in cash application and customer service.
• Proficiency in Microsoft Office, particularly Word and Excel.
• Familiarity with banking policies, online systems, and accounts receivable concepts.
• Strong math skills and problem-solving abilities are essential.
• Experience with Tower systems is a plus.
• Ability to work on-site in a fast-paced environment with strict adherence to company policies.
• Excellent communication skills for effective collaboration with teams and customers.