Financial Operations Analyst

Job Description:

5-8 years of experience plays a key role in managing the cash application process for a company, ensuring that payments are accurately applied customer accounts, discrepancies are resolved, and the accounts receivable (AR) process runs smoothly.

Key Responsibilities:

·        Payment Posting: Accurately applying customer payments (checks, wire transfers, ACH, payments) the appropriate accounts in the ERP. Adhere finance policies and procedures.

·        Reconciliation: Ensuring all payments are properly reconciled with invoices and other related financial records, identifying discrepancies, and working resolve them.

·        Discrepancy Resolution: Investigating and addressing any discrepancies in payment applications (e.g., short payments, overpayments, or misapplied payments).

·        Daily Cash Posting SLA: Monitor and report on daily cash posting ensure timely application of payments, supporting accurate financials.

·        Customer Interaction: Communicating with customers or internal teams resolve any payment-related issues, such as missing remittances or disputes.

·        Collaboration: Working closely with other departments (e.g., accounts receivable, collections, finance) ensure smooth financial operations and timely issue resolution."

Skills Required:

·        At the 5–8-year level, Cash Application Specialists are expected to have a more developed skill set, combining both technical proficiency and a strong understanding of the overall accounts receivable and cash management processes.

1. Advanced Knowledge of Cash Application Processes:

·        In-depth understanding of applying various types of payments (checks, ACH, wire transfers).

·        Cash flow between system system and reconcile with ease.

2. ERP/Financial Systems Proficiency:

·        Expertise in ERP systems such as SAP, Banks, or other similar platforms used for cash application and accounting.

Proficiency in Excel for advanced data manipulation (pivot tables, vlookups, etc.) and reporting.

3. Reconciliation Skills:

·        Strong understanding of financial reconciliation processes, including the ability to match payments with invoices and resolve discrepancies.

4. Attention Detail:

·        High attention detail tenure payments are accurately applied, and discrepancies are identified and corrected.

5. Communication Skills:

·        Strong verbal and written communication skills interact with customers, vendors, and internal teams, especially when addressing payment issues or disputes.

6. Problem-Solving:

·        Strong troubleshooting and problem-solving skills quickly identify the root cause of payment discrepancies and take corrective actions.

7. Time Management:

·        Ability prioritize and manage multiple tasks, especially in a high-volume environment, ensuring timely and accurate cash posting.

8. Industry Knowledge:

·        Familiarity with the specific industry’s payment processes (e.g., service, retail, B2B) can be an added advantage