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Cash Application Specialist

Office

Toronto

Posting Date

May 06, 2022

Position type

Permanent

At McCarthy Tétrault, we offer challenging and rewarding career opportunities and are delighted to have been selected for the tenth consecutive year in 2022 as one of Canada’s Top 100 Employers and one of Canada’s Best Diversity Employers. Our culture is built on professional excellence, collaboration, innovation, thought leadership and entrepreneurialism. We embrace inclusion in all its forms and we provide the tools and opportunities to help our people develop to their full potential.

This position can be based out of Toronto. McCarthy Tétrault employees benefit from a hybrid work environment.

As a Cash Application Specialist, you will be:

Accounts Receivable

  • Processing funds received from the bank that are reconciled, applied and posted to the appropriate client account to relieve the outstanding receivable or GL account, as applicable.
  • Working toward the AR Objectives and meeting the assigned Cash Application Metrics.

Credit Postings/Reconciliations

  • Administrating unidentified cash, unapplied cash and trust funds within the firm’s guidelines and finding resolution within the prescribed timelines.
  • Performing comprehensive period end reconciliation that includes the preparation, process and the timely completion of same, at month/quarter/year end.
  • Governing and processing write offs with the appropriate approvals in a timely manner; meeting the prescribed guidelines and timelines for same.
  • Serving as the central contact/liaison for the cash application/payment needs and inquiries for a client’s account.
  • Performing complex account reconciliations with a view to resolution of a full range of possible issues/challenges.
  • Identifying issues from the root source/cause and bring resolution to minimize/eliminate recurring symptoms or concerns.
  • Coordinating and supporting the investigation and resolution of payment/account discrepancies to include: short payment, over payments, unapplied cash, and misapplication, posting errors, payment analysis/support documentation in the event of request or dispute.
  • Phoning clients, obtaining credit card information and processing credit card payments online via virtual terminal, as requested.

Reporting and Documentation

  • Preparing various reports that include daily Cash Receipts, Unapplied/Unidentified Cash, Sub Ledger to GL, A/R Suspense Account and Write Off Reconciliations respectively.
  • Administering general filing and correspondence.

Other

  • Offering superior client attentiveness by making every effort to respond and assist clients in a timely, efficient and professional manner.
  • Delivering the highest level of care for the client in the event of a concern or complaint.
  • Building and strengthening working relationships with billing lawyers, Billing Analysts, Legal Assistants, Finance team members and supporting team initiatives.
  • Performing special projects and assigned administration tasks, as requested.

As our ideal candidate, you will have:

  • Post-secondary education in a related field.
  • Minimum of 6-10 ten years of related experience.
  • Certification from the Credit Institute of Canada would be a definite asset.
  • Strong MS Excel skills (i.e. templates, formulas, pivot tables, etc.). Proficiency in MS Word/PowerPoint and Outlook.
  • Business tools (including customer relationship management and business intelligence software)
  • Proven aptitude towards learning new applications.
  • Excellent communication skills, both verbal and written.
  • Superior problem solving, analytical and reconciliation skills.
  • Demonstrated strength in negotiation and organizational skills.
  • Ability to work independently, while supporting team initiatives/objectives and meeting deadlines.
  • Strong detail orientation and accurate data entry skills.
  • Effect time management skills with the ability to manage multiple priorities.
  • Professional manner, client care focus and strong interpersonal skills.

As a member of the McCarthy team, you will have access to:

  • Outstanding benefits from day one, including insurance premiums paid by the Firm and wellness and technology reimbursements.
  • Competitive compensation, paid overtime and generous time off, including a day off to volunteer and a day off for your birthday.
  • A commitment to professional development and growth opportunities for our people at all levels, supported by a culture that fully embraces and encourages two-way feedback.
  • Strong community involvement and a commitment to equity, diversity and inclusion.
  • A collaborative, cohesive culture that connects lawyers and business teams through collective purpose.

How to apply:

We invite you to submit your application to [email protected]. We thank all applicants for their interest in McCarthy Tétrault; however, only chosen applicants will be contacted. We regret that we are unable to respond to individual inquiries about application status. McCarthy Tétrault is an equal opportunity employer that fosters an inclusive, equitable, and accessible environment. Please notify us if you require accommodation at any time during the recruitment process.