Cash Management Specialist

Job Description

Cash Management Specialist | First Chicago Insurance Company

The Tone:
This is a full-time role at First Chicago Insurance Company, located in Chicago, IL. First Chicago Insurance Company is a growing insurance firm. This role is crucial for a detail-oriented individual to ensure the smooth and accurate flow of financial operations related to cash management. The successful candidate will perform a range of accounting duties, contributing to the maintenance of precise financial data and supporting the company’s mission of excellence in a supportive and high-performing environment.

The TL;DR
• Role: Full Time
• Type: Full-time
• Location: In-person, Chicago, IL
• Pay: $16–$27.5 hourly
• Mission: Ensure the smooth and accurate flow of financial operations related to cash management.
• Tech Stack: Sage, Excel, Word

What You’ll Actually Do
• Reconcile and Record: Daily reconcile cash receipts, close payment batches, and accurately record all necessary Journal Entries (JE) within the Sage accounting system, ensuring financial precision.
• Process Payments and Refunds: Efficiently process a variety of incoming payments, including those received via mail, walk-ins, and online systems, as well as managing agent sweeps and policy EFT payments on a daily basis. This also includes processing premium returns via ACH, premium refund checks, and claims checks and voids, recording JEs as required.
• Resolve Financial Discrepancies: Collaborate directly with the underwriting department to resolve complex billing matters, identify and address Non-Sufficient Funds (NSF) on recurring payments daily, and manage credit card disputes by preparing responses and updating relevant spreadsheets.
• Manage Collections and Verification: Review and process collection files on a weekly basis, performing check verification upon request to ensure accuracy and compliance.
• Support Accounting Operations: Contribute to broader accounting functions by handling deposits using a check scanner and assisting with various other accounting projects as needed, supporting overall department efficiency.

The Must-Haves
• Background: Early career professional with a foundational understanding of accounting principles.
• Experience: Demonstrated proficiency in data entry, strong ability to multitask efficiently, and practical experience with accounting systems, specifically Sage.
• Skills:
• Strong communication skills for effective collaboration and addressing inquiries.
• Proficiency with Microsoft Excel and Word for managing data and creating documents.
• A detail-oriented approach to meticulously update records and reconcile accounts.
• Bonus: An Associate’s degree in business or accounting.