Associate - Cash Allocation/Application

Job description

Dimensions

• Countries/Businesses covered - Thailand

Purpose of Role

• To work on all areas of the cash allocation and application activities across East OUs – primarily Thailand (downstream)
• To ensure that cash application and allocation are
• e completed in an accurate and timely manner by Downstream Credit Manual
• To provide support to the team manager in driving down unallocated cash and improving automation rates. 

Accountabilities

• Ensure that all cash and cheques have been entered into the system, banked on the due date and that receipts are applied to customer accounts.
• Communicate with customers to resolve allocation issues daily.
• Applies knowledge and understanding of the banking process in resolving issues arising from various modes of receipts.
• Reconciles accounts and pro-actively resolves disputes through support from the Debt Collection team
• Acknowledge receipt of the complaint with the customer, quickly investigates & resolves the complaint.
• Ensure performance metrics are met and perform the monthly reconciliation of General ledger accounts
• Monitor Accounts Receivables and Perform Manual Entries.
• Analyse unidentified receipts and properly coordinated with the bank, cash management team (back-end treasury); and other relevant parties to ensure resolution within the prescribed timeline.
• Support project delivery for projects related to cash application and allocation

Challenges

• To ensure that the application and allocation of cash remittance either thru Cash, lockbox, wire, or EFT to customer accounts is booked accurately, and promptly by agreed SLAs.
• This is critical to managing the exposure levels of our customers and to our debt collection teams. A clear understanding of Account Receivables and basic accounting principles. Ability to deal with internal and external customers where situations require tact and professionalism. Ensure all Cash related controls are operated effectively per designed.
• Critical Activities should be explicitly managed - Direct Debit, Rejection, Reinstatement of bounced cheque, and Refund.
• Should be adaptable to change and willing to continue to pursue process improvement opportunities for final decision and implementation cross-team/teams (i.e. Automation; macro).
• Ensure that work instructions are up to date. Should collaboratively work with PE Team for any changes impacting global WI or local WI.

Skills and experience

Qualifications

• Degree in accounting

Behavior

• Strong aptitude for managing processes and driving towards best-in-class process performance
• A passion for learning soft and business partnering skills

Professional Experience

• This role requires a result-driven, focused individual with excellent communication skills and high self-motivation.
• He or she must be able to work under tight time pressure whilst still maintaining high standards of work not only personally, but also within the team, resiliently.
• He / She must be able to encourage team members in team delivery, and positively engage with others to improve business processes and performance where necessary, and should possess strong commercial acumen to be able to support the sales organization in account management matters.
• He / She must be credible and be able to negotiate with stakeholders to drive issue resolutions.