Cash Application Manager

Allegion • IN

124d • $84,800 - $150,100

About The Position

At Allegion, we help keep the people you know and love safe and secure where they live, work and visit. With more than 30 brands, 12,000+ employees globally and products sold in 130 countries, we specialize in security around the doorway and beyond. Additionally, in 2024 we were awarded the Gallup Exceptional Workplace Award, which recognizes the most engaged workplace cultures in the world. The Cash Application Manager will be responsible for supervising the team of Cash Application Specialists that record payments from the lockbox, ACH, credit cards, and wire transfer to customer accounts. The position requires the ability to potentially work with multiple lockboxes that are tied to specific customer portfolios. Daily work volume is directly related to daily deposit volume that can fluctuate from day to day. Collaborate efforts within Credit organization to address unapplied cash, refund request and cash adjustments. Individual will be expected to be a change agent, a self-starter, driven for results and able to work effectively with business unit leadership and create an environment of continuous improvement.

Requirements

• 5+ years of business-to-business cash application experience in a large corporate environment, preferably in manufacturing or distribution industries, service, and project installation.
• Bachelor's Degree required.
• Experience operating within multiple programs, software, and ERPs daily.
• Excellent communication skills, both verbal and written, across multiple functions and branch network.
• Strong general knowledge of accounts receivable processes, with an expertise in cash application.
• Ability to multitask in a high-volume transactional environment.
• Must be proficient in 10-key data entry.
• Strong knowledge of Microsoft Excel including VLOOKUP formulas and pivot tables.
• Ability to successfully operate in a teamwork-oriented, metric-based environment.
• Effective leadership skills, research capabilities, innovative to resolve unapplied cash.
• Ability to develop direct reports and build a highly motivated, engaged team.
• Ability to create and implement standard operating procedures to drive SOX compliance.

Responsibilities

• Build solid relationship with staff, customer care, credit analysts and external customers.
• Review and approve time sheets, manage vacation requests, and productivity.
• Provide training, guidance, and to all subordinates.
• Manage cash applications – ensure service level agreements in the posting and recording of customer payments received from multiple lockboxes/bank accounts including checks, ACHs, wires and credit cards.
• Properly identifying customer’s remittance and posting payments to the correct account by invoice.
• Creating balancing entries related to short payments and deductions on customer accounts per remittance advice.
• Reconciling and balancing cash deposits to posting reports daily.
• Review and approve adjustments within assigned authority matrix ensuring employees adhere to LOA matrix.
• Complete account adjustments in a timely manner per service level agreement.
• Manage daily inflow and outflow of intercompany transfers for assigned portfolio(s).
• Be a key owner of Unclaimed Property Items for Allegion.
• Escalate unresolved cash and unapplied cash items to Direct of Credit timely.
• Partner with Accountants to ensure reconciliation are completed monthly and out of balance items are resolved.
• Support internal and external customers through accurate, timely application of customer payments.
• Complete daily, weekly and/or monthly reporting duties.
• Maintain applicable hardcopy and electronic cash data files related to cash application for auditing purposes.
• Daily extraction of cash data from bank website and proper application by invoice to customer accounts.
• Mentor, coach and provide functional leadership to the cash application staff.
• Drive improvements in posting processes; develop controls, systems and processes to improve the efficiency and effectiveness of the cash application function.
• Maintain a robust and effective internal control environment.
• Ensure compliance with Sarbanes-Oxley Act related to Accounts Receivables and its key controls.
• Adherence to Allegion Global Credit & Collection Policy.
• Ability to quickly adapt to change and implement new procedures as directed by management.

Benefits

• Health, dental and vision insurance coverage.
• 401K plan with a 6% company match and no vesting period.
• Health Savings Accounts for healthcare expenses.
• Flexible Spending Accounts for healthcare and/or dependent daycare expenses.
• Disability Insurance – Short-Term and Long-Term coverage.
• Life Insurance – Term life coverage with the option to purchase supplemental coverage.
• Tuition Reimbursement.
• Voluntary Wellness Program with rewards.
• Employee Discounts through Perks at Work.
• Community involvement and opportunities to give back.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Bachelor's degree
• Number of Employees: 5,001-10,000 employees