Senior Manager, Payments and Cash Receipts

Senior Manager, Payments and Cash Receipts

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Job Description

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CoStar Group Company Intro:

CoStar Group (NASDAQ: CSGP) is a leading global provider of commercial and residential real estate information, analytics, and online marketplaces. Included in the S&P 500 Index and the NASDAQ 100, CoStar Group is on a mission to digitize the world’s real estate, empowering all people to discover properties, insights and connections that improve their businesses and lives. 

We have been living and breathing the world of real estate information and online marketplaces for over 35 years, giving us the perspective to create truly unique and valuable offerings to our customers. We’ve continually refined, transformed and perfected our approach to our business, creating a language that has become standard in our industry, for our customers, and even our competitors. We continue that effort today and are always working to improve and drive innovation. This is how we deliver for our customers, our employees, and investors. By equipping the brightest minds with the best resources available, we provide an invaluable edge in real estate. 

Role Description:

At CoStar Group, our finance group centralizes transaction processes, providing accurate reporting, financial resolutions, and proper forecasting analysis. Joining the team offers access to financial specializations, including accounts payable, accounts receivable, cash and asset management, client contracts and billing, and revenue recognition. CoStar Group is continuing to grow and is in need of an energetic, organized, problem solver to join our Finance Shared Team as a Senior Manager, Payment and Cash Receipts.

The Senior Manager is responsible for developing best in class cash receipt and applications processes, designing, and implementing unapplied cash processes that maintain cleaned customer aging and electronic payment receipts (Credit Cards, ACH, Etc.) The Senior Manager will manage a team of 12 – 14 Cash applications specialists and interface with the Collections and Billing teams and other key internal stakeholders.  Additionally, they will communicate with customers and sales team members to deliver the highest level of customer service.

Your main responsibilities will include working with the internal Finance, Sales, and Sales Operations teams to ensure detailed, accurate, and timely revenue processing. Additionally, you will be leading efforts related to process automation, workflow optimization, and revenue recognition support. In this position, you will play a key role in developing company-wide business processes, and new revenue recognition capabilities. You will play a key role in implementing Oracle Cloud in the cash application area and scale more efficiently and effectively. This function is equal parts cash application operations and business process improvement.

Key priorities include:

• Partnering and building meaningful relationships with the sales, accounting, finance, and other agreement to cash areas like Billing, Collections, IT, etc
• Measuring performance at the team level and individual agent level
• Leading and providing feedback to cash application analysts
• Minimize unapplied cash and credits on our financials

RESPONSIBILITIES

• Maintain unapplied/unidentified payments and credit memos within agreed and accepted parameters and monthly objectives
• Manage the performance of Cash Applications team and provide timely feedback
• Assist in managing bank relationships for cash receipts and lockbox activity
• Assist in managing credit card processor relationships and related reporting
• Manage the BillTrust relationship for cash receipts
• Oversee cash applications, interactions with collections, customers, and sales
• Train and mentor Cash Applications Analysts on customer interaction, product knowledge, and customer service
• Review client accounts on an ongoing basis to assess misapplied cash and remedy unapplied credit balances timely
• Audit cash and credit memo allocations on a customer account level and provide feedback for the cash application Analysts
• Assist other departments (sales, legal, general accounting) with Cash application activities as needed
• Lead special projects as required by senior management
• Analyze and improve all Cash receipts and credit memo application processes
• Manage migration from multiple legacy financial systems to Oracle Cloud
• Manage improvement ideas to create efficiencies in the cash application cycles
• Assist the quarterly, monthly, and yearly internal and external audit cycle
• Oversee the daily and monthly reconciliation activities and dead