Cash Application Specialist I

Company: CIT Group LLC
Location: Danville
Posted on: January 13, 2020

Job Description:

OverviewCIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments solutions, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about.--ResponsibilitiesThe Cash Application Representative will work in the Cash Application department supporting the Commercial Services Operations function. Candidate will be responsible for accurate posting, reconciliation and application of customer payments. The representative will analyze remittance instructions and make informed decisions to ensure client and customer accounts are appropriately adjusted. 1. Review payment and remittance instructions and apply to appropriate customer and client accounts and invoices2. Identify and reconcile payment differences, post short/over payments, deductions, on account and partial payments and appropriately code all reconciling transactions3. Research online history for payments of missing invoices and prior chargebacks and post applicable transactions4. Utilize excel spreadsheets to assist with cash reconciliation and to support transactions5. Contact customers and clients via email or phone regarding missing remittance information6. Utilize shared mailboxes and customer web portals to identify and retrieve remittance details7. Utilize report archive system (Document Direct) and Client Information System (CIS) to extract receivable and remittance information to assist with payment application/reconciliation8. Compose professional emails to internal and external customers9. Work in a team environment, contributing to team goals and meeting obligations and commitments10. Perform all duties as assigned by managerQualificationsHigh school diploma / Bachelors Degree preferred or equivalent work experienceExceptional analytical and problem solving skillsExcellent verbal and written communication skillsDemonstrated initiative and strong decision making skillsExcellent time management skills and proven ability to hit deadlinesAbility to work and interact with all departments throughout the organizationThrive in a fast paced environment while continually maintaining a positive attitude and promoting teamwork across all departmentsCourses in accounting preferred (past job experience acceptable)Must be versatile and willing to cross-train and assist others as neededProficient in Word, Excel and Outlook

Keywords: CIT Group LLC, Danville , Cash Application Specialist I, Accounting, Auditing , Danville, Virginia