What are the responsibilities and job description for the Cash Application Specialist position at Feralloy Corp.?
Job Title: Cash Application Specialist
Reports To: Corporate Credit Manager
Job Description:
The Cash Application Specialist will process high volume of transactions and remittances, reconcile payment discrepancies and support month end close. 60% of the time will work on cash applications and 40% time will work collections and reconciliation on assigned portfolios.
Responsibilities include:
Cash Applications:
- Process and reconcile payments
- Maintain GL accounts
- Research payment discrepancies and resolve issues in a timely manner
- Month-end close – ensure that all month-end functions are complete and month-end is completed on a timely basis.
- Facilitate customer refunds
- Assist gathering audit requests
- Maintain and create customer records
- Address and communicate payment issues and any discrepancies/ deductions
Collections:
- Release orders for assigned portfolio in a timely manner
- Contact customers via phone or email to discuss payment options and collect on past due balances
- Update customer records and document all communication and actions taken
- Collaborate with other departments to ensure timely and accurate account resolution
- Continuously monitor and review accounts receivable aging reports to prioritize collection activities
- Provide exceptional customer service while maintaining a professional demeanor at all times
- Maintain metrics previously established – DSO and % of current balance
Other duties:
- Run statements
- Generate and distribute monthly/ weekly reports
- Provide trade references
- Provide manual statements as needed
- Some travel (less than 10%) is required throughout the year.
Job Type: Full-time
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee discount
- Flexible spending account
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Tuition reimbursement
- Vision insurance
- Quarterly bonus - subject to individual performance
- Year End bonus – subject to individual and company performance
Schedule:
- Hybrid
- Once a week work from home – as training progresses – 2 days WFH
Requirements:
- 5-7 years of cash application experience
- A high school diploma or equivalent is required for this position.
- A degree in Accounting, Finance, Business Administration or related field is preferred.
- NACM certifications preferred
Work Location: Corporate office- Chicago