Cash Operations Specialist

Job Description

Are you motivated by playing an integral part on creating positive customer experiences? Join us! The Cash Application Specialist will be responsible for performing all incoming cash related activities for the lease and loan accounts in the Commercial Finance (COF) business. As the Cash Application Specialist, you will be responsible for ensuring timely and accurate accounts receivable and cash application processing, as well as daily cash reporting and reconciliation activities.

  • Process, apply and post daily cash (incoming checks/multiple lockbox accounts, wires, ACH direct debit, intercompany clearing and cash transfers)
  • Address all business portfolio related cash application requests, including manual set up of ACH direct debits, manual cash adjustments/reapplications and research/address cash related inquiries and requests. Ability to process complex, multi-transaction cash applications and adjustments.
  • Daily processing of large volumes of incoming payments accurately and in a timely manner
  • Daily cash reports to be run and reviewed for accuracy.
  • Process returned checks/rejected payments
  • Prepare the daily cash reconciliation reports for multiple bank accounts. Research and analyze balance discrepancies to determine root cause and make appropriate adjustments and corrections within Cassiopae in a timely manner.
  • Collaborate with internal departments to identify and resolve (Cassiopae) system issues and improve process flow.
  • Assist with developing and maintaining policies and procedures to ensure the accurate posting and safeguarding of cash receivables. Continually monitor and assess the adherence to internal controls, policies and procedures.
  • Prepare and process manual ACH direct debit pulls for one-time requests submitted by the portfolio teams.
  • Daily review and reconciliation of the automated module ACH direct debit payments – validate the daily ACH pulls are sent to the bank and the automated assumed cash postings are processed in Cassiopae.
  • Process and allocate incoming and outgoing intercompany cash transfers
  • Process and post “live” checks on the last 3 business days of each month and maintain detailed records of all manual check postings.
  • Maintain electronic cash documentation library – daily upload and maintenance of cash documentation in SharePoint and Knowledge Lake. Warehouse librarian for Iron Mountain.
  • Maintain detailed cash summary logs and reports to be shared with management
  • Complete data inputs and coding for the daily outgoing wire transfer payments.
  • Interact with the bank to resolve any bank account related inquiries and issues.
  • Interact with Customers to reconcile payments
  • Develop strong working relationships with other operational disciplines, including Accounting, Operations and Portfolio.
  • Minimum of 5 years of cash application/accounts receivable experience
  • Minimum 4 years college degree with focus on Finance or Accounting or combination of education and equivalent experience
  • Must be detail oriented and possess strong analytical and organizational skills.
  • Ability to interact well with others in a team environment.
  • Excellent verbal and written communication skills.
  • High degree of flexibility, energy and initiative.
  • Familiarity with Cassiopae system preferred.


Organization: Financial Services

Company: Siemens Financial Services, Inc.

Experience Level: Early Professional

Job Type: Full-time

Equal Employment Opportunity Statement
Siemens is an Equal Opportunity and Affirmative Action Employer encouraging diversity in the workplace. All qualified applicants will receive consideration for employment without regard to their race, color, creed, religion, national origin, citizenship status, ancestry, sex, age, physical or mental disability unrelated to ability, marital status, family responsibilities, pregnancy, genetic information, sexual orientation, gender expression, gender identity, transgender, sex stereotyping, order of protection status, protected veteran or military status, or an unfavorable discharge from military service, and other categories protected by federal, state or local law.

EEO is the Law
Applicants and employees are protected under Federal law from discrimination. To learn more, Click here.

Pay Transparency Non-Discrimination Provision
Siemens follows Executive Order 11246, including the Pay Transparency Nondiscrimination Provision. To learn more, Click here.

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