Executive - Cash Application and Credit Management - Mumbai - confidential

    confidential
    confidential Mumbai

    6 days ago

    Full time
    Description
    • Postgraduate (B. Com/Honors) or a bachelor s degree with relevant experience in OTC Operations.
    • Experience (years):
    • Executive - Graduate with 2 to 4 years of experience

    Relevant Experience:

    • OTC or Accounts Receivable (Cash Application)

    Role Summary:

    • Responsible for applying incoming customer payments to the correct invoices using ERP systems, ensuring financial records are up-to-date and reducing unapplied cash.
    • Manages discrepancies such as short payments, unidentified funds, and remittance mismatches, while reconciling customer accounts and supporting audit and compliance requirements.
    • Qualification Criteria/Work Experience

    Essential:

    • Strong knowledge of Cash applications
    • Working knowledge of SAP Finance module
    • Experience in shared services/customer facing environment
    • Understanding of standard operating procedures
    • Knowledge of system, applications, operating tools, metrics and excel
    • Good communication skills, plus good verbal written presentation skills
    • Good understanding of AR Cycle and credit Management process
    • Flexibility to work within a high growth, rapidly changing environment
    • Ability to self-motivate and initiate change
    • Ability to work with colleagues at all levels .
    • Cash Application Responsibilities
    • Accurately apply customer payments to invoices using ERP system.
    • Retrieve and interpret remittance information from various sources (email, portals, bank
    • Investigate and resolve unapplied or unidentified payments
    • Analyze short payments and coordinate with collections or customer service for resolution
    • Reconcile bank statements with customer accounts to ensure accuracy
    • Update customer records with payment details, adjustments, and corrections
    • Generate daily/weekly/monthly reports on cash application performance and exceptions.
    • Ensure adherence to internal controls and audit requirements.
    • Support automation initiatives and suggest improvements to enhance efficiency
    • Investigate discrepancies and escalate unresolved issues to management or relevant departments.
    • Apply payments received in different currencies accurately
    • Ensure all payments are posted before closing deadlines and Support finance teams with reconciliations and reporting.
    • Provide documentation and data for internal and external audits.
    • Track and report on service level agreements and performance indicators
    • Drive improvements based on trends and gaps
    • Evaluate the creditworthiness of new and existing customers.
    • Analyze financial statements, credit scores, payment history, and market conditions.
    • Set appropriate credit limits and terms to minimize risk.
    • Continuously monitor customer accounts for overdue payments or changes in financial health.
    • Adjust credit limits or terms based on performance and risk.
    • Analyzing the credit limit of the customer based on the financial statements
    • Good Understanding about the dunning process for customer for different levels

    Key Skills

    • Cash Application and Credit management
    • Accounts Receivable Ledger Management
    • Financial Accounting and Reporting
    • Advanced Excel and Spreadsheet Skills
    • SAP ERP and Accounting Software Proficiency
    • Team Player
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