Cash Allocation Specialist

Job Description

We are seeking a highly skilled Cash Allocation Specialist to join our Order-to-Cash (OtC) department. In this role, you will play a key part in the day-to-day recording of cash receipts for allocated countries.

Your primary responsibility will be Accounts Receivable transaction processing, including payment posting, unapplied cash resolution, and debit/credit offsets. You will also communicate with external and internal customers, such as the Credit and Collections team, Accounting team, and other departments to ensure alignment with different processes and resolve complex cases in a timely manner.

• Daily monitoring of incoming cash transactions.
• Process all Bank Receipts in a timely and accurate manner.
• Evaluate and allocate Debtors suspense amounts against customers or to appropriate G/L areas.
• Log cheques with banks and follow through until receipt into the account.
• Process Direct Debits and collaborate with Treasury teams to ensure end-to-end approval.
• Investigate and resolve any discrepancies or errors.
• Maintain sufficient documentation to trace all transactions and reconcile debtor suspense movements, unallocated cash, cheque receipts, etc.
• Perform month-end activities such as account reconciliation, month-end close, and month-end reporting.
• Liaise with the internal credit control team to discuss complex unallocated payments.
• Contact customers to obtain remittances or resolve outstanding cash entries.
• Review and action Unallocated Cash amounts on a regular basis.
• Develop knowledge in systems and platforms related to assigned processes within the division.
• Adhere to company policies, internal controls, and Sarbanes-Oxley requirements while performing tasks.
• Complete Cash Application tickets and other requests within established SLAs using correct procedures and attention to detail.
• Verify approvals align with applicable process matrices before completing applications.
• Assist with requests for internal or external audits by compiling support for requested samples.

Skills & Qualifications Required:

• Effective communication and interpersonal skills to interact with various levels of internal and external customers.
• Proven attention to detail and accuracy in data entry and processing.
• Demonstrated ability to collaborate effectively with a wide range of people to achieve common goals.
• Ability to work independently to resolve complex issues and perform first-level escalations.
• Strong organizational and time management skills to prioritize tasks and complete them efficiently.
• Initiative and organizational skills to manage a high volume of work and meet deadlines.
• Willingness to train and mentor newcomers to the OtC department.
• Problem-solving and analytical abilities to investigate and resolve discrepancies.

Qualifications and Experience:

• Fluent English language skills.
• University or College degree.
• Proficiency in Microsoft Office software is required (Outlook, Excel, etc.).
• Previous experience in a Shared Service Center in a similar role is required.

Benefits:

• A dynamic work environment that values performance, quality, and innovation.
• The opportunity to make significant contributions to the world by working for a leading global organization.
• A collaborative and supportive team that encourages professional growth and development.

Others:

• This position interacts with various levels of internal and external customers.
• Thermo Fisher Scientific is an EEO/Affirmative Action Employer and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, protected veteran status, disability, or any other legally protected status.