Cash Application Supervisor at Loop

United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Supply Chain, Logistics, Finance, TechnologyIndustries

Requirements

3-year general accounting or bookkeeping experience or administrative experience
Must demonstrate proficiency using common office applications
Must be able to ask questions and learn quickly
Must be self-motivated and able to prioritize tasks independently

Responsibilities

Train and lead cash application team in funds application and best practices; train and assist in resolution of unapplied cash entries and reporting of unapplied cash
Train and assist cash application team in requests system and management of requests (follow up and escalation)
Lead check processing/carrier refund processing team
Assist Treasury Manager with process improvement implementations, ordering check printing supplies as needed, and assist team in resolution of daily balancing issues or processing problems/errors
Monitor all custodial accounts for accuracy/completeness of cash applications
Review unapplied cash and funding issues logs and ensure client unapplied cash has a corresponding record/request in the system
Monitor request system, provide directions on requests, and ensure good communication between Operations, custodial team and payment processing
Interface with account coordinators, CRM’s, customers, and carriers to ensure good communication, accurate funding/release processes, and fulfillment of client special handling requests
Ensure custodial refunds include pertinent information (remittance detail) so client can identify and process custodial refunds in their payment system and that refunds are properly directed to the client
Review and maintain ledgers of incoming freight funds and (manual) service fees – handle corrections and interface with Finance to ensure accurate application of funds (per client remittance) to freight versus service fee
Create financial spreadsheets and/or complete research to support reconciliation of Client Trust Account when required
Assist in electronic payment set ups and verify carrier bank instructions and carrier bank revisions; communicate to carrier database maintenance to process set ups/revisions
Assist in payment voids, reissues, and client refunds
Assist in the design and development of controls and procedures and assist in development of best practices within custodial department as custodial process evolves
Act as liaison between Operations and Accounting (Finance and custodial) to ensure corrections are processed timely and accurately/unapplied cash resolution is handled timely and accurately
Provide ideas and assist to lead process improvements within cash application and carrier refund processes
Assist whole custodial accounting staff as required
All other duties assigned

Skills

Key technologies and capabilities for this role

Cash ApplicationUnapplied Cash ResolutionTreasury ManagementTeam LeadershipProcess ImprovementCheck ProcessingAccounting SystemsCustodial AccountsFunds ApplicationRequest Management

Questions & Answers

Common questions about this position

What are the main responsibilities of the Cash Application Supervisor?

The role involves training and leading the cash application team in funds application and unapplied cash resolution, leading check processing and carrier refund teams, monitoring custodial accounts for accuracy, interfacing with stakeholders for communication and processes, and reviewing ledgers for incoming funds.

Is this position remote or does it require office work?

This information is not specified in the job description.

What is the salary or compensation for this role?

This information is not specified in the job description.

What kind of team leadership experience is needed for this role?

The position requires experience training and leading cash application teams, leading check processing teams, monitoring accounts, and directing custodial requests under supervision from the Treasury Manager.

What makes a strong candidate for the Cash Application Supervisor position?

Strong candidates will have expertise in cash application processes, unapplied cash resolution, custodial account management, team leadership, process improvements, and interfacing with finance, operations, and clients.

Loop

Simplifies payments with advanced technology.

About Loop

The company's main product simplifies payments in a complex industry, utilizing advanced technologies to streamline the process.

San Francisco, CaliforniaHeadquarters

2021Year Founded

$63.2MTotal Funding

SERIES_BCompany Stage

Data & Analytics, Automotive & Transportation, Enterprise SoftwareIndustries

11-50Employees

Benefits

Health Insurance

Dental Insurance

Vision Insurance

401(k) Retirement Plan

Unlimited Paid Time Off

Professional Development Budget

Physical and Mental fitness subsidies

Commuter Benefits

Risks

Increased competition may pressure Loop's market share and pricing.

Regulatory changes in Saudi Arabia could impact Loop's operations.

Cybersecurity threats pose risks to Loop's reputation and customer trust.

Differentiation

Loop's platform streamlines shipment document capture and invoice matching efficiently.

Partnerships with major players like J.P. Morgan enhance Loop's market credibility.

Loop's expansion into Saudi Arabia showcases its global reach and adaptability.

Upsides

AI integration boosts Loop's invoice matching accuracy and fraud detection.

Blockchain technology offers Loop enhanced transparency and security in payments.

IoT growth allows Loop to provide real-time tracking and analytics services.

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