Cash allocation & collections specialist

Position Overview:

We are seeking a detail-oriented and proactive Receivables Cash Application Analyst to join our team. This role is pivotal in producing and maintaining accurate reports related to cash application, account reconciliation, and the management of outstanding accounts receivable balances in collaboration with our collecting agencies. The ideal candidate will work closely with the Collections Manager, CSM team, and Payroll teams to generate detailed reports that support collections efforts, maintain financial transparency, and drive accurate decision-making.

Key Responsibilities:

• Ensure timely and accurate application of incoming daily payments from different platforms to the appropriate customer accounts and invoices.

• Perform regular reconciliations of accounts to identify discrepancies, clear credit balances, and resolve unknown payments efficiently.

• Investigate and clear outstanding credit balances and unknown payments by coordinating with internal teams and customers.

• Assist in the execution of collections strategies, collaborating with collecting agencies to reduce bad debt.

• Prepare and maintain detailed reports on accounts receivable balances, collection activities, and payment progress.

• Create and maintain the collections file, ensuring accurate and up-to-date data to track the progress of collection efforts.

• Work closely with the Collections Manager, Customer Success Managers, and Payroll teams to align on collections efforts and address outstanding issues.

• Reconcile all outstanding and aged debt by analyzing accounts, recommending them for third-party collections agencies, or proposing write-offs when appropriate.

Key Qualifications:

• Bachelor's degree in accounting, Finance, or a Business-related field preferred.

• 2+ years of experience in accounts receivable, collections or cash allocation.

• Strong knowledge of cash application, account reconciliation, and collections practices.

• Excellent attention to detail and organizational skills.

• Strong analytical and problem-solving abilities.

• Effective communication and interpersonal skills.

• Flexible and self-driven with the ability to adapt to changing priorities.

• Proficient in Excel and financial tools reporting.

Preferred Competencies:

• Excellent communication and interpersonal skills (written and verbal), with a keen attention to detail and discipline.

• Strong decision-making and organizational skills, with the ability to provide expert advice and practical solutions.

• Proven ability to collaborate effectively with cross-functional teams, leveraging communication skills, knowledge, and expertise to resolve issues.