Cash Management Specialist

Job Description

Cash Management Specialist

Company: First Chicago Insurance Company

Location: (Not specified in original text, but often implied to be Chicago area based on company name)

First Chicago Insurance Company, a growing insurance firm, is seeking a meticulous and dedicated Cash Management Specialist. This role is crucial for ensuring the smooth and accurate flow of financial operations, providing essential accounting support, and maintaining impeccable financial records.

What You’ll Do: A Day in the Life

As a Cash Management Specialist, your daily routine will be dynamic and focused on maintaining financial accuracy and operational efficiency. You will:

• Start your day by analyzing cash transactions, updating financial records, and meticulously reconciling accounts to ensure data integrity.
• Collaborate closely with experienced team members to address customer inquiries, deliver exceptional service, and swiftly resolve any financial discrepancies.
• Engage in team meetings, sharing valuable insights and continuously enhancing your financial acumen through collaborative learning.
• Embrace opportunities for professional development within a supportive and high-performing environment, contributing directly to the company’s mission of excellence.

Key Responsibilities & Duties

• Reconciliation & Journal Entries: Reconcile daily cash receipts and accurately record corresponding Journal Entries (JE) in Sage.
• Billing Resolution: Collaborate with the underwriting department to effectively resolve billing-related matters.
• Payment Processing: Efficiently process payments received through various channels, including mail, walk-ins, and online platforms, into the billing systems.
• Automated Payments: Daily processing of agent sweeps and policy Electronic Funds Transfer (EFT) payments.
• Premium Returns: Process premium returns to agents via ACH as required.
• Refunds & Voids: Process premium refund checks and voids, accurately recording the corresponding JE in Sage.
• Claims Processing: Process claims checks and voids, recording the relevant JE in Sage.
• Check Verification: Perform check verification upon request.
• Batch Closures: Daily closing and reconciliation of all payment batches.
• Project Assistance: Provide support for other accounting projects as needed.
• NSF Resolution: Identify and resolve Non-Sufficient Funds (NSF) issues on recurring payments daily.
• Collections: Review and process collection files on a weekly basis.
• Dispute Management: Prepare responses and manage credit card disputes, ensuring the associated spreadsheet is updated accordingly.
• Deposits: Handle deposits using a check scanner.

Qualifications

Required

• Detail-Oriented: Demonstrated strong attention to detail.
• Data Entry: Proficient in accurate and efficient data entry.
• Multitasking: Strong ability to manage multiple tasks simultaneously and effectively.
• Communication: Excellent communication skills.
• Technical Proficiency: Proficiency with Microsoft Excel and Word, and experience with accounting systems (specifically Sage).

Preferred

• Education: High School education minimum with some accounting experience.
• Higher Education: An Associate’s degree in Business or Accounting is a significant plus.

Benefits & Perks

First Chicago Insurance Company is committed to its employees and offers a comprehensive and competitive benefits package to all full-time team members. Highlights include:

• Competitive Salaries
• Strong Commitment to Employee Training & Development
• Medical and Dental Insurance
• Short Term Disability/Long Term Disability
• Life Insurance
• Flexible Spending Account (FSA)
• Telemedicine Benefit
• 401k with a generous company match
• Paid Time Off (PTO) and Paid Holidays
• Tuition Reimbursement Training Programs
• Wellness Program
• Engaging Company-Sponsored Events
• And many more additional benefits!

Estimated Compensation Range

$16/hr – $27.50/hr*

*Published ranges are estimates. Offered compensation will be determined based on an evaluation of experience, skills, education, certifications, and geographic location.