Cash Operations Manager
Business Unit: Business Operations Americas
Requisition Number: 234610
Primary Location: United States-New Jersey-Iselin
Assignment Category: Full-time regular
Experience Level: Mid level
Education Required Level: Bachelor's Degree
Travel Required: 5%
Siemens is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationally for more than 165 years. As a global technology company, Siemens is rigorously leveraging the advantages that this setup provides. To tap business opportunities in both new and established markets, the Company is organized in eight Divisions: Power and Gas, Power Generation Services, Energy Management, Building Technologies, Mobility, Digital Factory, Process Industries and Drives, and Financial Services.
Siemens Financial Services, Inc. is the U.S. arm of the global Financial Services division of Siemens, (SFS), an international provider of business-to-business financial solutions. SFS helps facilitate investments, providing commercial finance, project and structured finance with specific asset expertise in the energy, healthcare, industry, and infrastructure markets. SFS supports Siemens as well as other companies with their capital needs and acts as an expert manager of financial risks within the Siemens Company. Leveraging its financing expertise and industrial know-how creates value for customers and helps them strengthen their competitiveness.
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Essential Job Functions (necessary to perform the job):
- The position requires strong analytical skills and attention to detail.
- Excellent communication skills - both written and verbal. The ability to communicate ideas and concepts clearly and concisely to all levels of management.
- In depth knowledge of commercial lease and loan cash application concepts and cash reconciliation methods.
- Strong people skills, with the ability to build good working relationships
- Effective management skillsets; ability to manage a small department with a high volume of daily cash activities
- Successfully manage a 2-4 person team, responsible for the daily operations and processes for accounts receivable and cash application, ensuring the timely and accurate completion of all department requirements
- Partner with Business Excellence to define and document department procedures for the newly implemented subledger system (Cassiopae)
- Oversee cash application activities for all incoming cash (checks/multiple lockbox accounts, wires, ACH direct debit, intercompany clearing and cash transfers)
- Ensure all department policies and guidelines are adhered to, and any exceptions are documented and approved
- Develop and lead process improvements on the cash team, focused on providing optimal customer service and process efficiencies, as well as eliminating opportunities for process failures.
- Recommend and execute approved changes to process to support business needs.
- Troubleshoot and resolve any issues within the cash team as they arise. Escalate where necessary.
- Daily review of cash reconciliation reports for accuracy, completeness and control compliance. Assist with researching, analyzing and reconciling all open items and discrepancies. Ensure all adjustments and corrections to the daily cash postings are processed in a timely manner.
- Maintain detailed cash summary logs and reports to be shared with management
- Review and approve the 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 the subledger system (Cassiopae).
- Review incoming and outgoing intercompany cash transfers for accuracy
- Interact with the bank to resolve any bank account related inquiries and issues.
- Develop strong working relationships with other operational disciplines, including Accounting, Operations and Portfolio.
- Coordinate with internal and external auditors on department processes, ensuring complete, timely and accurate responses to information requests.
Qualifications (include education):
- Bachelor’s degree (B.A. /B.S.) or equivalent in finance/accounting or related discipline
- 7 + years related experience. Prior management experience required
- 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.
- Project management skillsets, with the ability to multi-task.
- Familiarity with Cassiopae system preferred