Job title: Cash Allocation Manager
Location: Newcastle upon Tyne, UK
As part of the new Global Finance Organisation, a European finance shared service centre is being established to deliver transactional processing services across Europe, covering Purchase to Pay (P2P), Order to Cash (O2C), and Record to Report (R2R).
This role will lead a team of cash allocation colleagues in the Sage European finance shared service centre, managing the cash allocation process and ensuring it meets the current and future needs of the business, reflecting the underlying business requirements and policies. The role will additionally support the ongoing continuous improvement of the related processes.
Based in Newcastle upon Tyne, UK the successful candidate will have experience operating within a cash allocation team preferably in a finance shared services environment for a FTSE100 business.
Key accountabilities and decision ownership:
· Manage the daily activities of the Cash Allocation team, manage the outputs of a team of Cash Allocation Analysts allocating payments to customer accounts and matching open items to receipts
· Responsible for maximizing the performance of Cash Allocations Analysts
· Work with banking partners and Sage Group Treasury to maintain and build lasting and strong relationships
· Investigate and resolve unallocated and unidentified receipts
· Align the process to the Sage O2C strategy, providing input into the future direct of the O2C process and wider finance shared services centre
· Resolve queries from customers and internal stakeholders regarding receipts
· Establish, prioritise and communicate worklists to your team
· Ensure that all customer credits, refunds or discounts are managed
· Actively monitor and report on customer payment behaviour
· Achieve daily/weekly/monthly KPI performance to deliver to the predefined performance management framework
· Deliver required service levels to achieve pre-defined Service Level Agreements (SLAs), ensure that customer credits, refunds or discounts are managed and approved
· Support cash flow forecasting and analysis activities as required, ensuring that cash flow is optimised at all times
· Responsible for personnel management, including; recruitment, selection, manpower planning, performance management and development of your team
· Ensure that all regulatory compliance is adhered to and ensuring your knowledge of the consumer credit act, SEPA and direct debit legislation is up to date
· Deliver excellent standards of customer service internally and externally, building and maintaining strong customer relationships
· Identify and deliver continuous improvement initiatives to optimise the cash allocation process
· Ensure that the teams operate within Sage internal compliance policies
· Forge and maintain both internal and external customer relationships
· Identify, resolve cash allocation, customer query and dispute risks and issues as required
· Manage the delivery of the month end and close for the cash allocation process
· Cash Allocation Analyst(s)
Key performance indicators (indicative):
· Volume of transactions processed
· Level of rework and volume of customer queries
· Timely production of accurate reporting on allocation of receipts
· Days Sales Outstanding (DSO)
· Timely clearing of open items
· Effective stakeholder engagement and negotiation
· Value of suggested improvements
· Minimise unallocated and unidentified payments
· Ensure refunds are processed in a timely manner in line with O2C policy
· Staff engagement and performance
· Regional Finance Operations Director
· Order to Cash Lead
· Credit Managers – UKI & European
· Sage Customer(s) and Banks/Institutions
· Sage Group Treasury
· Sage R2R Team
Skills, know-how and experience:
· Proven cash allocations experience (subscription/direct debits desirable)
· Proven cash allocations experience (technology environment is desirable)
· Proven understanding of cash allocation management controls/risk management
· Proven leadership / people management experience
· Proven management of and delivery of Service Level Agreements (SLAs)
· Proven working knowledge of Microsoft ® Office Suite (Excel, Word and PowerPoint)
· Excellent written verbal and communication skills
ERP experience (Sage X3 desirable)
A strong understanding of best-practice O2C processes
Active participation in systems improvement/implementation programmes
· Command of a European language – (desirable)
Technical / professional qualifications:
Project management qualification (e.g. PRINCE 2/APM/PMP desirable)
· Knowledge of relevant legislation e.g. PCI, CCA, Direct Debit Scheme rules (desirable)
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