Cash Management Specialist

Job Summary:

We are seeking a highly motivated and detail-oriented Cash Management Specialist to join our growing finance team. This role will primarily focus on the accurate and timely processing of vendor and other payments, ensuring smooth cash flow and maintaining strong relationships with our vendors. The ideal candidate will have 1-2 years of experience in a similar role, demonstrating a strong understanding of payment processing, banking operations, and reconciliation procedures.

Responsibilities:

• Payment Processing:
• Execute daily vendor payments via various banking channels (online banking, wire transfers, ACH, etc.).
• Ensure all payment requests are properly authorized and documented.
• Verify vendor invoices for accuracy and completeness before processing payments.
• Resolve any payment discrepancies or issues promptly and professionally.
• Maintain accurate records of all payments made, including supporting documentation.
• Bank Reconciliation:
• Perform daily and monthly bank reconciliations to ensure accuracy of cash balances.
• Investigate and resolve any discrepancies between bank statements and internal records.
• Prepare and maintain supporting documentation for reconciliation processes.
• Vendor Management:
• Communicate effectively with vendors regarding payment inquiries and status updates.
• Build and maintain positive relationships with vendors.
• Assist in the vendor onboarding process related to payment information.
• Cash Flow Management:
• Assist in forecasting short-term cash flow needs.
• Monitor bank balances and ensure sufficient funds are available for payments.
• Identify and escalate any potential cash flow issues.
• Compliance and Internal Controls:
• Adhere to all company policies and procedures related to cash management.
• Ensure compliance with relevant regulations and legal requirements.
• Assist in the development and implementation of internal controls related to payment processing.
• Process Improvement:
• Identify opportunities to streamline and automate payment processes.
• Contribute to the development and implementation of process improvements.
• Other Duties:
• Perform other related duties as assigned by the Finance Manager/Controller.

Qualifications:

• Bachelor's degree in Accounting, Finance, or a related field preferred.
• 1-2 years of experience in cash management, accounts payable, or a related role.
• Strong understanding of payment processing, banking operations, and reconciliation procedures.
• Proficiency in using online banking platforms and accounting software (e.g., ERP systems).
• Excellent attention to detail and accuracy.
• Strong analytical and problem-solving skills.
• Excellent communication and interpersonal skills.
• Ability to work independently and as part of a team.
• Ability to prioritize and manage multiple tasks effectively.
• Strong knowledge of Microsoft Excel.

Preferred Qualifications:

• Experience with any accounting software like Tally ERP, SAP or Oracle
• Knowledge of relevant accounting principles (GAAP).
• Experience with process improvement initiatives