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Red Coats, Inc. · 1 month ago

Cash Applications and Collections Manager

Bethesda, MD

Full-time

Hybrid

Senior Level

5+ years exp

Red Coats, Inc. is seeking a Cash Applications and Collections Manager to join their Accounting team. The role involves overseeing cash applications and collections processes, leading a team, and ensuring compliance with financial policies while enhancing operational efficiency.

Information Technology

Responsibilities

Oversee the timely and accurate application of payments (e.g., ACH, wire, checks) to customer accounts

Manage and reconcile unapplied cash, working with the collections team to resolve discrepancies

Lead collection efforts on overdue accounts, negotiate with customers, and develop strategies to minimize bad debt

Establish and maintain strong relationships with customers to resolve collection-related issues

Communicate effectively with customers to resolve disputes and address payment concerns

Lead, mentor, and manage the cash application and collections team to ensure they meet targets

Identify and implement process improvements, automation initiatives, and workflow enhancements to increase efficiency and accuracy

Collaborate with other departments, such as sales, customer service, and finance, to resolve issues and prevent future problems

Monitor and report on key AR metrics, such as DSO, aging reports, and write-offs

Prepare and present financial reports and analysis to senior management

Ensure compliance with internal controls, accounting policies, and external regulations

Assist with audit support and documentation

Maintain and update credit, collections, and billing policies

Qualification

Accounting software proficiencyAdvanced Excel skillsLeadership skillsAnalytical skillsCollection lawsNegotiation skillsManagement experienceProfessional certificationCommunication skillsDetail-oriented