Payments Analyst - Cash Application & Process Optimization

Clark Associates; Lancaster (Lancaster County); On-site; USD 55,000 - 75,000; Full time

Job summary

Clark Associates is seeking a Payments Analyst to ensure timely and accurate application of customer payments, reconcile cash receipts, and resolve discrepancies. The role focuses on improving cash application efficiency, automating processes, and scaling payment workflows in collaboration with Treasury, Collections, and Accounts Receivable teams.

The analyst will investigate unapplied cash, variances, and other exceptions, supporting ongoing growth with cross-departmental collaboration and

Responsibilities

• Cash Application Management: Responsible for the timely and accurate processing of payments; oversee and lead initiatives as it relates to cash application, optimize alternative payment streams and addressing backlogs through appropriate action.
• Variance Resolution: Oversee and resolve payment variances, working collaboratively with customers, Collection Analysts and Account Support teams. Track and analyze variance trends to implement preventative measures and improve payment accuracy.
• Customer Experience Enhancement: Ensure that payment-related interactions, including resolving disputes and processing refunds, are handled professionally and efficiently, maintaining positive customer relationships while minimizing operational disruptions.
• Process Improvement and Optimization: Identify bottlenecks and inefficiencies within the payments process and recommend improvements to automate, streamline, and enhance payment workflows. Specific attention placed on alternative payment streams.
• Cross-Departmental Collaboration: Serve as the liaison between the Accounts Receivable, Account Management, and Account Support teams, as well as other departments, to promptly resolve payment-related issues and customer inquiries.
• Reporting Tools: Develop tracking and reporting systems to measure, analyze, manage, and communicate operations performance and trends.
• System and Workflow Enhancements: Partner with Treasury, Accounts Receivable, and Development teams, to continue scaling the cash application AI system and related workflows. Develop and document workflows and controls to ensure consistency, accuracy, and seamless customer experience.
• Audit and Compliance: Ensure compliance with accounting standards, credit policies, and internal controls, participating in audits and reviews as required.
• General Ledger: Collaborate closely with the accounting and treasury teams to ensure accurate financial reporting, timely reconciliations, and alignment on working capital goals.
• Other duties as assigned.

Job description

Clark Associates is seeking a Payments Analyst to ensure timely and accurate application of customer payments, reconcile cash receipts, and resolve discrepancies. The role focuses on improving cash application efficiency, automating processes, and scaling payment workflows in collaboration with Treasury, Collections, and Accounts Receivable teams.

The analyst will investigate unapplied cash, variances, and other exceptions, supporting ongoing growth with cross-departmental collaboration and