Associate Cash Application

4 weeks ago

Bengaluru, India Trane Technologies Full time
：

The Cash Application Analyst will manage the application of payments to North America and EMEA accounts receivable portfolio for Trane Technologies operations at the Bangalore Shared Service Center. The role includes identifying and applying cash from multiple bank accounts, communicating with customers (internal & external) to minimize unapplied cash, process adjustment & customer refunds, processing payment files and maintaining activities in the sub-ledger, Challenge the status quo and arrive at process strengthening projects/recommendations, support to analyze and build audit and metrics report, conduct root cause analysis and recommend controls, perform UAT testing ensuring smooth transition of various projects run at Organization level in connecting with Cash Applications process.

The successful candidate will become part of a team of cash application and will interact with internal customers from the collections, accounting and SBU finance teams as well as external customers.

 

Responsibilities:

•                      Ensure application of payments received in multiple bank accounts are applied accurately & timely to the appropriate customer account receivable.

•                      Followed up on unidentified payments and unapplied cash.

•                      Process AR adjustments and customer refunds as scheduled by the Limits of Authority (LOA).

•                      Process payment files as per the transaction due date schedule; communicate with customers / collectors any concerns and delays.

•                      Manage Month End activities in line with check list.

•                      Prepare reports to check the health of the process, thereby taking corrective actions to clear variances.

•                      Perform UAT testing for transition projects and system upgrades.

•                      Build process documents to stay updated with dynamic process changes.

•                      Timely submission of SOX and Audit reports/supporting documents

•                      Immediately communicate significant issues impacting application/adjustment process, unapplied cash & payment files.

•                      Prepare reports for the credit and financial functions, as required.

•                      Maintain a high degree of satisfaction with internal and external customers through innovative solutions to consistently improve key performance indicators.

•                      Maintain frequent communication with the accounting team, collections team, and other internal customers to foster collaboration.

•                      Promote a culture of continuous process improvement using lean tools and standard work.

•                      Ensure compliance with Corporate and Local credit policies and other compliance requirements such as trade compliance, Sarbanes Oxley, etc.

 

Key Competencies:

•                      Strong written and verbal communication skills

•                      Ability to build a positive rapport with personnel throughout the global organization.

•                      Strong customer service focus, with a drive to ensure that we exceed the expectations of our customers.

•                      Demonstrate a high sense of urgency.

•                      Exhibit a positive attitude and keep poise under pressure.

Qualifications:

•                      Bachelor’s degree in accounting/finance.

•                      Minimum of 04 2 years of relevant experienced, with experience in multinational environment and/or global team preferred.

•                      Understanding of commercial credit and collection practices, including knowledge of payment methods: wire transfer, cheque, promissory notes, direct debit.

•                      Knowledge and experience working with Oracle preferred.

•                      Good hold on Microsoft excels and Reporting.

•                      Good understanding of accounting concepts

•                      Experience with Rimilia or similar automated cash application software preferred.

•                      Experience in building teams and improving processes using lean tools, preferred.

We offer competitive compensation and comprehensive benefits and programs. We are an equal opportunity employer; all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, pregnancy, age, marital status, disability, status as a protected veteran, or any legally protected status.

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