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Senior Cash Management Specialist

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Location: Nashville, TN, United States
Date Posted: Jan 24, 2020

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Job Description

Description



JOB SUMMARY:  Research and resolve non-matching and unidentified funds from Caterpillar Financial Services Corporation (CFSC), Caterpillar Financial Services Limited (CFSL) and Capital Solutions customers, dealers and third parties.  Maintain the U/A account within six months of the receipt of funds, as well as at specified maximum transaction levels (set by the Cash Management Manager).  Process all return payments and open fees on customer accounts for items such as, closed accounts, insufficient funds, invalid account numbers or proper authorization signatures.  Reconcile discrepancies on customer accounts upon request.  Receives and processes wire/EDI payments utilizing the lease accounting software of CFSC, CFSL and Capital Solutions.  Process direct debit daily deposit files in addition to reporting out direct debit returned items.


 


PRINCIPAL DUTIES AND RESPONSIBILITIES:  Responsibilities include those of a Cash Management Specialist and any of the following duties:  


  1. Conducts thorough and precise research in order to identify and post Unapplied Suspense (U/A) payments.  Utilizes extensive research methods, including but not limited to the following: Intranet/Internet research, Salesforce, InfoLease, Finance Express, communication with internal FPD employees, external CFSC and CFSL employees; FPD, CFSC, CFSL and Capital Solutions customers; Caterpillar Dealers; external financial institutions, etc.  Some latitude for unreviewed decisions is within the scope of delegated authority.
  2. Assumes ownership for and ensures the accurate posting of all U/A funds.  Collaborates with other Cash Applications Team members, internal FPD personnel, external CFSC and CFSL employees and FPD, CFSC, CFSL and Capital Solutions customers to ensure that no funds remain in U/A for more than 180 days, except for items that are required to remain in U/A for an approved business reason.

  3. Maintains appropriate back up for every U/A request that is received and resolved.   Submits the required paperwork to Accounting.  Sends email notification to requesting party that transaction is complete.  Updates Salesforce notes and closes case, if applicable.

  4. Identifies overpayments and executes check and wire refunds to CFSC, CFSL and Capital Solutions customers, Caterpillar dealers, and third parties.  Routes completed check refunds and wire requests to the Cash Management Manager or Cash Management Coordinator(s) for approval. 

  5. Approves refunds within stated authority

  6. Receives and processes wire payments utilizing the lease accounting software of CFSC, CFSL and Capital Solutions.

  7.  Merges the CFSC, CFSL and Capital Solutions Treasury reconciliation report (i.e. data file) that is received from the bank in order to process incoming wire transfers.  This acts as a verification report, which is used to balance the cash posting of wires for Accounting.

  8. Applies direct credits to customer accounts for waived bank fees as a result of incoming wire transfers.  Directly debits the general ledger cost account of the requesting department for credit on customer accounts.

  9. Resolves payment discrepancies by completing thorough reconciliations on customer accounts.  Accomplishes this by closely working with internal FPD employees, external CFSC and CFSL employees, FPD, CFSC, CFSL and Capital Solutions customers and Caterpillar Dealers.

  10. May create manual batches for miscellaneous bank credits and debits referenced on the bank statements associated with CFSC, CFSL and Capital Solutions customer’s accounts and post them to the appropriate contract or GL account.  For bank debits, works with Reversal Team to reverse and reapply funds appropriately.

  11. May process direct credits and reversals requested by outside departments (e.g. CFSL, Customer Accounts, Customer Solutions and other portfolio management groups) or as the business need requires.

  12. Researches and communicates various posting activities and errors to internal business partners.

  13. Develops cash application procedures and training documentation.

  14. Participates in the accomplishment of continuous improvement objectives for the department.  Progress toward accomplishment of objectives is measured through maintenance of necessary measurements and analysis of associated data.  Participates in the identification of problem areas and development of resolutions to address them.

  15. Understands the Harassment policy of the company and is responsible for its application in all aspects of employment

 

 

 

 

 

 

Qualifications

 

JOB REQUIREMENTS:

SKILLS, ABILITIES, AND KNOWLEDGE:

  1. Proven ability to work independently and as part of a team.

  2. Demonstrated ability to apply cash application techniques and the demonstrated ability to resolve complex problems and perform reconciliations on customer accounts.

  3. Ability to utilize keyboard skills for 70% of the workday and focus on a computer screen for 85% of the workday.

  4. Ability to sit for extended periods of time.

  5. Knowledge of and the ability to train others in cash application procedures and processes.

  6. Ability to develop cash application procedures and training materials.

  7. Demonstrated knowledge of and the ability to apply math computation skills, including basic addition, subtraction, multiplication, and division as well as statistics and other mathematical concepts used in modeling.

  8. Ability to seek out relevant information.

  9. Knowledge of accounting distribution and ability to verify correctness and completeness of such information.

  10. Knowledge of accounting principles and procedures as they relate to accounts receivables.

  11. Knowledge of computer systems operations to analyze basic systems problems and deficiencies.

  12. Ability to create and maintain intermediate level spreadsheets and run reports as needed.

  13. Knowledge of computer concepts.

  14. Ability to analyze procedures and integrate them with systems to make processes more efficient.

  15. Working knowledge of all interacting departments within the NABC and CFSL.

     

    EDUCATION/EXPERIENCE:  A High School Diploma or equivalent GED certificate is required and a minimum of 4 years experience in cash applications are recommended.  Previous work experience must be progressively increasing in responsibility and accountability and demonstrate an ability to gain in knowledge, skills, and responsibility such that a level of full competency can be reached.

 

 

EEO/AA Employer. All qualified individuals – including minorities, females, veterans and individuals with disabilities – are encouraged to apply.

 

Required Skills/Qualifications:

High School Diploma or equivalent GED certificate. Minimum of 4 years experience in cash applications. Previous work experience must be progressively increasing in responsibility and accountability and demonstrate an ability to gain knowledge, skills, and responsibility such that a level of full compentance can be reached. Equivalent experience may be substituted for education.


Desired Skills/Qualifications:

Excel (Intermediate)

 

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Job Info

Jan 24, 2020

200000DX

United States