Cash App, Credit and Collections Manager

Responsibilities

• Oversee the accounts receivable process, including cash application, credit review, collections and customer account maintenance.
• Manage the daily cash application process to ensure timely and accurate posting of customer payments received via ACH, wire transfers, checks and lockbox.
• Monitor Credit Analysts performance and provide direction and instructions as needed.
• Lead and train a team and new hires in cash application, credit and collection.
• Assign tasks, track team collection efficiency, and conduct performance evaluations.
• Monitor aging reports and reduce delinquent accounts.
• Utilize daily, weekly, monthly reports to improve cash application accuracy, collection efficiency, reduce bad debt, and report to leadership.
• Monitor unapplied cash balances and resolve payment discrepancies including short pays, overpayments, duplicate payments, unidentified remittances, and deductions in a timely manner.
• Partner with Treasury and Finance to reconcile daily cash receipts, bank deposits, and customer payment activity to ensure accurate financial reporting.
• Develop and maintain standardized cash application procedures, internal controls, and process documentation to improve operational efficiency and ensure compliance.
• Identify and implement process improvements and automation opportunities within cash application, credit, and collections functions.
• Communicate with clients regarding credit terms, payment plans, and overdue balances.
• Maintain positive customer relationships while ensuring timely payments.
• Ensure analyst’s conformance to collection strategies and initiatives to achieve prompt payment and reduce outstanding balances measurable by AR turns and DSO.
• Research and establish appropriate credit terms and limits for prospective and existing customers.
• Provide credit trade references when requested.
• Work closely with sales, legal, and finance departments to support business objectives and resolve customer account issues.
• Serve as the subject matter expert for cash application, credit, and collections processes, supporting ERP enhancements, system implementations, acquisitions, and continuous improvement initiatives.
• Ensure compliance with company policies, internal controls and SOX requirements (where applicable).
• Perform other tasks and special projects as required.

Qualifications

• Bachelor’s degree or equivalent experience in Accounting or Finance preferred.
• Minimum of 5 years commercial accounts receivable experience preferred.
• Supervisory or senior level experience required.
• Ability to gather and analyze pertinent data to support credit decisions on new and existing customers.
• Working knowledge of Excel, Word and Powerpoint.
• Excellent written, verbal, and organizational skills.