Job Summary

We are seeking a dedicated and detail-oriented Manager of Cash Applications to oversee our daily accounts receivable and cash application operations. With 7 to 10 years of experience in order-to-cash (O2C) processes, you will be responsible for ensuring that all incoming payments are applied accurately and efficiently. You will lead a team of specialists, resolve complex payment discrepancies, support system enhancements, and ensure compliance with internal controls. The ideal candidate is a hands-on leader who can drive daily performance while identifying opportunities to streamline workflows.

Key Responsibilities

Operations Management

• Supervise the daily operations of the Cash Applications team, ensuring all customer payments (ACH, wire, credit card, lockbox) are processed and posted accurately within established SLAs.

• Act as the primary point of escalation for complex unapplied cash issues, short payments, customer deductions, and missing remittances.

• Manage and execute the month-end, quarter-end, and year-end close processes for cash applications, ensuring accurate ledger reconciliation.

• Collaborate closely with Credit, Collections, and Customer Service teams to resolve account discrepancies and improve customer account health.

Process Improvement & Systems

• Drive continuous improvement by analyzing current workflows, identifying manual bottlenecks, and implementing leaner processes.

• Support system upgrades and implementations (e.g., ERP updates, bolt-on automation tools) by participating in user acceptance testing (UAT) and providing operational insights.

• Monitor and optimize auto-match rules within the cash application system to increase straight-through processing rates.

Team Leadership & Development

• Manage, train, and mentor a team of cash application analysts and specialists.

• Set clear performance goals, conduct regular 1:1s, and deliver annual performance reviews.

• Manage resource allocation, team schedules, and cross-training to ensure adequate coverage during peak periods and month-end close.

Compliance & Reporting

• Ensure all cash application activities comply with internal corporate policies, SOX controls, and accounting standards.

• Prepare and present weekly and monthly operational reports on key metrics (e.g., Unapplied Cash balances, SLA adherence, auto-hit rates) to senior finance leadership.

• Assist internal and external auditors by providing required documentation and explanations of cash application procedures.

Education & Certifications

• Bachelor’s degree in Accounting, Finance, Business Administration, or a related field.

Experience

• 7 to 10 years of progressive experience in Accounts Receivable, Cash Applications, or O2C operations.

• Minimum of 3 to 5 years of direct supervisory or team management experience.

• Solid background in high-volume, B2B cash application environments.

Technical & Soft Skills

• ERP Proficiency: Strong working knowledge of major ERP systems (e.g., SAP, Oracle, NetSuite).

• Systems Experience: Familiarity with cash application automation software or bank lockbox systems is highly preferred.

• Data Skills: Intermediate to advanced proficiency in Microsoft Excel (VLOOKUPs, Pivot Tables, basic macros).

• Communication: Excellent verbal and written communication skills to effectively collaborate with cross-functional teams and management.

• Problem-Solving: Strong analytical skills with a keen eye for detail and a hands-on approach to resolving reconciliation issues.

Key Performance Indicators (KPIs)

• SLA Compliance: Ensure 95%+ of all receipts are posted within 24 to 48 hours of bank clearance.

• Unapplied Cash: Maintain unapplied cash balances below the established company threshold

• Auto-Match Rate: Continuously improve the percentage of payments applied systematically without manual intervention.

• Accuracy Rate: Maintain a high standard of posting accuracy to minimize customer account adjustments and rework.

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