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Cash Application Specialist I at CIT Group LLC in Danville, Virginia

Posted in Other 30+ days ago.

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Job Description:

Overview

CIT 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 .

Responsibilities

The 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 invoices
2. Identify and reconcile payment differences, post short/over payments, deductions, on account and partial payments and appropriately code all reconciling transactions
3. Research online history for payments of missing invoices and prior chargebacks and post applicable transactions
4. Utilize excel spreadsheets to assist with cash reconciliation and to support transactions
5. Contact customers and clients via email or phone regarding missing remittance information
6. Utilize shared mailboxes and customer web portals to identify and retrieve remittance details
7. Utilize report archive system (Document Direct) and Client Information System (CIS) to extract receivable and remittance information to assist with payment application/reconciliation
8. Compose professional emails to internal and external customers
9. Work in a team environment, contributing to team goals and meeting obligations and commitments
10. Perform all duties as assigned by manager

Qualifications

High school diploma / Bachelor's Degree preferred or equivalent work experience
Exceptional analytical and problem solving skills
Excellent verbal and written communication skills
Demonstrated initiative and strong decision making skills
Excellent time management skills and proven ability to hit deadlines
Ability to work and interact with all departments throughout the organization
Thrive in a fast paced environment while continually maintaining a positive attitude and promoting teamwork across all departments
Courses in accounting preferred (past job experience acceptable)
Must be versatile and willing to cross-train and assist others as needed
Proficient in Word, Excel and Outlook