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Cash Management Specialist

Location: Oakville, ON, Canada
Date Posted: Oct 19, 2020

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Job Description


As Cash Management Specialist, you will research and resolve non-matching and unidentified funds from Caterpillar Financial Services Limited (CFSL) 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. Receive and process wire payments utilizing the lease accounting software of Caterpillar Financial Services Limited (CFSL).

Job Duties/Responsibilities may include, but are not limited to:

* 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, CRM, InfoLease, communication with internal FPD employees, FPD customers, Caterpillar Dealers, external financial institutions, etc.
* Assumes ownership for and ensures the accurate posting of all U/A funds for assigned regions, business units, and customer segments. Collaborates with other Cash Applications Team members, internal FPD personnel, and FPD customers to ensure that no funds remain in U/A for more than 180 days, with the exception of items that are required to remain in U/A for an approved business reason.
* Maintains appropriate back up for every U/A request that is received and resolved. Turns in required paperwork to Accounting. Sends email notification to requesting party that transaction is complete. Updates system notes and closes Service Request, if applicable.
* Identifies overpayments and executes check and wire refunds to CFSL 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.
* Approves refunds within stated authority.
* Receives and processes wire payments utilizing the lease accounting software of Caterpillar Financial Services Limited (CFSL).
* Merges the CFSL 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.
* Applies basic 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.
* Resolves payment discrepancies by completing thorough reconciliations on customer accounts. Accomplishes this by closely working with FPD customers, Territory Managers, Caterpillar Dealers, and internal FPD personnel.
* Develops cash application procedures and training documentation.
* Creates manual batches for bank credits and posts them to the appropriate contract or GL account. For bank debits, works with Reversal Team to reverse and re-apply funds appropriately.
* May assist with the processing of direct credits and basic reversals.
* 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.
* Understands the Harassment policy of the company and is responsible for its application in all aspects of employment.


Required Qualifications:

* High School Diploma or equivalent GED certificate
* Experience in cash applications an asset
* 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
* Proven ability to work independently and as part of a team.
* Demonstrated ability to apply cash application techniques and the demonstrated ability to resolve complex problems and perform reconciliations on customer accounts.
* Ability to utilize keyboard skills for 30% of the workday and focus on a computer screen for 75% of the workday.
* Ability to sit for extended periods of time.
* Demonstrated knowledge of and the ability to train others in cash application procedures and processes.
* Ability to develop cash application procedures and training materials.
* Demonstrated knowledge of and the demonstrated ability to apply math computation skills, including basic addition, subtraction, multiplication, and division as well as statistics and other mathematical concepts.
* Demonstrated knowledge of computer systems operations sufficient to analyze basic systems problems and deficiencies.
* Demonstrated ability to create and maintain intermediate level spreadsheets and run reports as needed.
* Demonstrated knowledge of computer concepts.
* Demonstrated ability to analyze procedures and integrate them with systems to make processes more efficient.

Caterpillar is an Equal Opportunity Employer (EEO)

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Job Info

Oct 19, 2020