Responsible for conducting research and analysis for cash payments. Reconciles transactions to ensure accuracy and compliance with all Sarbanes Oxley Standards.
Also responsible for coordinating with internal and external parties to ensure the proper application of payments and the resolution of receipt discrepancies. Ensures compliance to internal/external duties. Responsible for timely month end closings; handles approximately $200M/month. Acts as back up support for the Lead Cash Application Specialists in some key areas namely but not inclusive of processing corrections, correcting split checks and maintaining National Accounts.
ESSENTIAL JOB FUNCTIONS:
1.Uses multiple software applications to apply payments to customer invoices on a daily basis. Uses advanced excel skills in order to manipulate data and determine how to post
2.Identifies and analyzes all cash items not automatically posted to the accounts receivable portfolio during the automated cash application process.
3.Utilizes critical thinking to research reasons for discrepancies and/or inability to post payment. Applies payments in exception.
4.Reviews data to identify patterns and potential causes of discrepancies. Contacts appropriate internal resources to resolve discrepancies so that the full customer check can be posted.
5.Maintains all archive image documents as required by law.
6.Applies internet skills to access Owens & Minor bank account/transaction history.
7.Ensures transactions balance in a timely manner so that proper payment is made to one or multiple parties, reviews and corrects own work, makes correction and /or adjustments as needed.
8.Provides information to Collection Specialists to facilitate the explanation of payment application to customers as needed. Assists in archive research when called upon.
9.Uses various software programs to prepare remittance file documents for auto-cash processing.
10. Identifies and analyzes repetitive problems with lockboxes or customer checks and aide with resolutions to improve the processes.
11. Works with Collection Specialists and corporate credit managers to complete processing of customer settlements. Ensures all proper signatures and paperwork is included before processing.
12. Analyzes, researches and resolves discrepancies daily in accordance with each specific request (i.e. miss-post research, missing check research, remit copy assistance, etc.) to ensure all customers needs are met on a timely basis with full satisfaction.
13. Interfaces with internal and external customers to expeditiously resolve any cash application related issues.
14. Works within a shared-services environment, with matrix reporting lines to CEC leadership and global process leadership.
15. Collaborates directly with client engagement and finance operations teammates. Other direct interactions may include working with the Rebates, Accounts Payable, and Master Data groups.
16. Process all offset requests from the Collection Specialists
SUPPLEMENTAL JOB FUNCTIONS:
1.Performs additional duties as directed.
2.Ability to work overtime as required
EDUCATION & EXPERIENCE REQUIRED:
High School diploma or equivalent required
Three or more years of experience in accounting, banking, accounts receivable or other related disciplinary area, required
Expertise in Excel and Able to Extract data.
KNOWLEDGE SKILLS & ABILITIES:
Proficient in ability to swiftly and accurately research and resolve issues
Keen aptitude for attention to detail
Ability to work under limited supervision
Ability to meet stringent deadlines and perform under pressure.
Basic persuasion and negotiation skills
Verbal and written communication skills
Basic accounting and mathematical skills
Ability to perform and analyze financial calculations
Working knowledge of Business Objects and Excel
Proficient PC skills
Owens & Minor, Inc.