AR & Cash Application Manager | Credit & Collections Lead

Magnera Corporation; Evansville (IN); On-site; USD 85,000 - 110,000; Full time

Job summary

Magnera Corporation in Evansville, IN is seeking a Cash App, Credit and Collections Manager to lead the credit administration, cash application, and accounts receivable functions to maximize cash flow and minimize risk.

You will manage the Credit Analysts and Cash Application teams, drive process improvements, and collaborate with Treasury and Finance to ensure accurate financial reporting and timely customer payments.

Qualifications

• Bachelor’s degree in Accounting or Finance preferred.
• Minimum of 5 years commercial accounts receivable experience preferred.
• Supervisory or senior level experience required.
• Ability to gather and analyze pertinent data to support credit decisions on new and existing customers
• Working knowledge of Excel, Word and PowerPoint
• Ability to multi-task in a fast-paced environment
• Excellent written, verbal, and organizational skills.

Responsibilities

• Oversee the accounts receivable process, including cash application, credit review, collections and customer account maintenance.
• Manage the daily cash application process to ensure timely and accurate posting of customer payments received via ACH, wire transfers, checks and lockbox.
• Monitor Credit Analysts performance and provide direction and instructions as needed.
• Lead and train a team and new hires in cash application, credit and collection.
• Assign tasks, track team collection efficiency, and conduct performance evaluations.
• Monitor aging reports and reduce delinquent accounts.
• Utilize daily, weekly, monthly reports to improve cash application accuracy, collection efficiency, reduce bad debt, and report to leadership.
• Monitor unapplied cash balances and resolve payment discrepancies including short pays, overpayments, duplicate payments, unidentified remittances, and deductions in a timely manner.
• Partner with Treasury and Finance to reconcile daily cash receipts, bank deposits, and customer payment activity to ensure accurate financial reporting.
• Develop and maintain standardized cash application procedures, internal controls, and process documentation to improve operational efficiency and ensure compliance.
• Identify and implement process improvements and automation opportunities within cash application, credit, and collections functions.
• Communicate with clients regarding credit terms, payment plans, and overdue balances.
• Maintain positive customer relationships while ensuring timely payments.
• Ensure analyst’s conformance to collection strategies and initiatives to achieve prompt payment and reduce outstanding balances measurable by AR turns and DSO.
• Research and establish appropriate credit terms and limits for prospective and existing customers.
• Provide credit trade references when requested.
• Work closely with sales, legal, and finance departments to support business objectives and resolve customer account issues.
• Serve as the subject matter expert for cash application, credit, and collections processes, supporting ERP enhancements, system implementations, acquisitions, and continuous improvement initiatives.
• Ensure compliance with company policies, internal controls and SOX requirements (where applicable).
• Perform other tasks and special projects as required

Skills

Credit management

Financial analysis

Leadership

Education

Bachelor’s degree in Accounting or Finance

Tools

Excel

ERP systems

PowerPoint

Job description

Magnera Corporation in Evansville, IN is seeking a Cash App, Credit and Collections Manager to lead the credit administration, cash application, and accounts receivable functions to maximize cash flow and minimize risk.

You will manage the Credit Analysts and Cash Application teams, drive process improvements, and collaborate with Treasury and Finance to ensure accurate financial reporting and timely customer payments.