Cash Application and Allocation Analyst

Job Description

Job Overview

Responsible for managing the cash application and allocation process. Applying hands-on experience in Cash Application and Allocation, Account Reconciliation and Customer Service issues and will be responsible for helping meet or exceed Cash Application targets. To provide support to the Cash Application and Allocation Supervisor.

Responsibilities (1/2)

• Responsible for ensuring that cash application and allocation is completed in an accurate and timely manner.
• Perform daily reconciliation of payment discrepancies and contacts Credit and Collection team for prompt resolution.
• Investigate and coordinate any unidentified receipts to Credit and Collection, Treasury, Business and other relevant parties to ensure timely resolution.
• Perform reviews of credit/debit memos, unauthorized deductions and other adjustments posted to customer accounts as well as verifying the proper offsetting of credit/debit memos and unapplied cash as authorized in writing by the customer
• Perform subsequent clearing and posting as needed.
• Prepare and post manual journal entries as necessary.
• Perform monthly Cash GL account reconciliation.
• Actively participate in monthly, quarterly and yearly closing activities.
• Oversee the tracking, proper posting and offsetting of all prepayments on customer accounts.
• Drive process improvement within the Cash application scope.
• Maintain confidential records of all AR/cash application transactions for audit compliance.
• Research and respond to all inquiries concerning the function, account reconciliations, remittance advice/payment application and takes appropriate action.

Responsibilities (2/2)

• Assist with quarterly and yearly audit by internal and external auditors.
• Assist Cash Application and Allocation Supervisor with preparation and analysis of relevant reports such as Scorecard and other adhoc reports.
• Actively participate in engagements with multiple stakeholders
• Prepare Daily Cash Summary report
• Prepare and perform analysis of Unclaimed Property and Cash Summary for Corporate
• Prepare and perform analysis of Unapplied and Shortpayment report (Bimonthly and Monthly)

Required Qualifications

• Experience in Shared Services / Business Process Outsourcing industry, preferably with multinationals
• Proficient in Microsoft Excel and Powerpoint to assist with various reports.
• SAP & BW experience preferred.

Preferred Qualifications

• 3+ years Cash Application and Allocation/ Revenue Chain experience. 
• BA/BS degree or any related Finance/Business equivalent preferred.
• Strong customer service orientation,
• interpersonal, negotiation and analytical skills as well as demonstrated experience working effectively in a diverse and fast-paced environment.
• Strong communication and presentation skills.
• Ability to collaborate effectively across functional business organizations.

Benefits

• Guaranteed 14th Month Pay
• Above-market Retirement Plan Design
• LinkedIn Learning Access
• Established Performance Incentive Program
• HMO coverage for employees on day 1 (with pandemic coverage)
• Free HMO coverage for up to 3 qualified dependents
• Educational Assistance