Cash Application and Receivable Specialist

University of Chicago • Chicago, IL

389d

About The Position

The Cash Applications and Accounts Receivable Specialist is responsible for managing cash applications, customer billing, collections, and maintaining accurate customer data to ensure high-quality cash application and timely collections. This role ensures compliance with vendor/customer terms, internal controls, and policies while providing excellent customer service and maintaining relationships with internal and external customers.

Requirements

• Minimum college or university degree in a related field.
• Knowledge and skills developed through less than 2 years of work experience in a related job discipline.

Nice To Haves

• Degree in accounting, business administration, or related field.
• Previous experience in a similar role with a large, complex organization.
• Proficient with Microsoft Office Suite (PowerPoint, Word, Outlook, Excel).
• Experience with enterprise-wide ERP systems (Oracle) and banking software.

Responsibilities

• Oversees the day-to-day billing and cashiering functions including receipt of deposits and daily reconciliation.
• Monitors and downloads payment files, creates payment records, and applies payments accurately to customer accounts.
• Processes and reconciles account receivables and remittances.
• Performs analysis of payment histories and account reconciliations.
• Runs and cleans up unapplied payment balances and credit memos, and creates refund requests as applicable.
• Creates invoicing for University departments.
• Takes ownership of an assigned portfolio of past due accounts, documenting activities in Oracle.
• Develops problem-solving and multitasking skills to resolve account issues while meeting objectives.
• Maintains accurate data records for all accounts to ensure proper billing and collection.
• Researches and resolves discrepancies in billing, payments, and customer inquiries.
• Builds and maintains rapport by delivering excellent customer service via phone and email.
• Contacts customers to transition to electronic processing.
• Creates and maintains payor website logins and monitors utilization.
• Generates daily banking and practice management reports to reconcile cash posted against remittance advice.
• Provides backup for audits, accounting, or third-party payor requests.
• Takes appropriate action with delinquent accounts and assists clients with billing issues.
• Ensures all payment and accounts receivable data is accurate and up-to-date.
• Cultivates and maintains relationships with internal and external customers.
• Ensures compliance with internal controls, policies, and procedures in receivables operations.
• Performs a variety of accounts receivable/payable related activities using existing procedures.

Benefits

• Health insurance coverage
• Paid holidays
• Professional development opportunities

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Educational Services
• Education Level: Bachelor's degree