Career Area:
Finance
Job Description:
Your Work Shapes the World at Caterpillar Inc.
When you join Caterpillar, you're joining a global team who cares not just about the work we do - but also about each other. We are the makers, problem solvers, and future world builders who are creating stronger, more sustainable communities. We don't just talk about progress and innovation here - we make it happen, with our customers, where we work and live. Together, we are building a better world, so we can all enjoy living in it.
Our common values and focus on inclusion and respect drive the decisions made by our company, teams and people. This is why we are committed to hiring and building diverse teams representative of the customers we serve globally. When you join our team, you can apply your unique life and job experiences and work in an environment where your ideas are heard, your contributions are celebrated, and your whole-self matters.
About Cat Financial
Cat Financial is a subsidiary of Caterpillar Inc., the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For more than 40 years, Cat Financial has provided a wide range of financing solutions to customers and CatR dealers for machines, engines, SolarR gas turbines, genuine Cat parts and services. Headquartered in Nashville, Tennessee, Cat Financial serves customers globally with offices and subsidiaries located throughout North and South America, Asia, Australia, Europe and Africa. Visit cat.com to learn more about Cat Financial.
JOB SUMMARY:
Coordinate team members' work assignments and activities of the functional area of assignment. Under general supervision, lead development of solutions to customer related requests and/or system problems. Collaborate with business partners, specialists, architects and suppliers to determine project scope, goals and ensure functional area of assignment standards are met.
PRINCIPAL DUTIES AND RESPONSIBILITIES:
Responsibilities include those of a Cash Management Specialists and any of the following duties:
Receives department goals as provided, makes them actionable for workgroup implementation and coordinates team members to achieve department objectives with assistance from the Manager.
Provides leadership and direction to the team members with assistance from the Manager. Provides leadership and training to coworkers. Serves as a team member responsible for administration of team processes.
Fosters and maintains a close relationship with other functional areas to assure that cross-functional processes are coordinated and running appropriately with assistance from the Manager as needed.
Makes recommendations for improvements to existing processes and procedures. Participates in annual business planning and interactions with vendor(s) relationships.
Plans, conducts and coordinates assignments across multiple functional areas, reviews progress, and evaluates results, which are communicated to the appropriate Manager and key stakeholders.
Facilitates research in order to identify and post Un-applied Suspense (U/A) payments.
Utilizes extensive research methods, including but not limited to the following: Intranet/Internet research, Salesforce, InfoLease, Finance Express, communication with internal FPD employees, external CFSC and CFSL employees; FPD, CFSC, CFSL and Capital Solutions customers; Caterpillar Dealers; external financial institutions, etc.
Makes decisions within the scope of delegated authority. Assigns ownership for and ensures the accurate posting of all U/A funds.
Encourages collaboration with other Cash Applications Team members, internal FPD personnel, external CFSC and CFSL employees and FPD, CFSC, CFSL and Capital Solutions customers to ensure that no funds remain in U/A for more than 180 days, except for items that are required to remain in U/A for an approved business reason.
Ensures that the U/A reps maintain back up for every U/A request that is received and resolved. Submits the required paperwork to Accounting.
Sends email notification to requesting party that transaction is complete. Updates Salesforce notes and closes case, if applicable.
Oversees the identification of over payments and approves refunds when necessary within their authority with assistance from a manager if needed. Oversees the CFSC, CFSL and Capital Solutions Treasury reconciliation report (i.e. data file) that is received from the bank in order to process incoming wire transfers. This acts as a verification report, which is used to balance the cash posting of wires for Accounting.
Oversees the application of direct credits to customer accounts for waived bank fees as a result of incoming wire transfers.
Oversees the resolution of payment discrepancies by assisting in reconciliations on customer accounts. Accomplishes this by closely working internal FPD employees, external CFSC and CFSL employees, FPD, CFSC, CFSL and Capital Solutions customers and Caterpillar Dealers.
May create manual batches for miscellaneous bank credits and debits referenced on the bank statements associated with CFSC, CFSL and Capital Solutions customer's accounts and post them to the appropriate contract or GL account. For bank debits, works with Reversal Team to reverse and reapply funds appropriately.
May process direct credits and reversals requested by outside departments (e.g. CFSL, Customer Accounts, Customer Solutions and other portfolio management groups) or as the business need requires.
Develops cash application procedures and training documentation. Leads the research and communication of various posting activities and errors to the internal business partners. Participates in the accomplishment of continuous improvement objectives for the department.
Progress toward accomplishment of objectives is measured through maintenance of necessary measurements and analysis of associated data. Participates in the identification of problem areas and development of resolutions to address them.
Understands the Harassment policy of the company and is responsible for its application in all aspects of employment.
JOB REQUIREMENTS:
Deep subject matter expertise with the understanding of cash processes, front and backend pertaining to CFSC, CFSL and Capital Solutions, which should include but not limited to, lockbox, wires, EDI, direct debit, reversals, returns and unapplied suspense.
Demonstrated ability to communicate future direction and deliver timely effective information to leadership and key stakeholders.
Demonstrated ability to train and advise employees on the processes and procedures of cash application procedures and processes.
Demonstrated ability to motivate coworkers and others to achieve objectives Strong written and verbal communication skills.
Demonstrated working ability to independently manage multiple tasks on one or more projects.
Demonstrated ability to interact with vendors and suppliers. Demonstrated ability to successfully lead process improvement or development teams.
Demonstrated ability to seek out relevant information.
Demonstrated knowledge or and the demonstrated ability to apply math computation skills including basic addition, subtraction, multiplication, and division, as well as, statistics and other mathematical concepts used in modeling.
Demonstrated knowledge of accounting distribution and ability to verify correctness and completeness of such information.
Knowledge of accounting principles and procedures as they related to accounts receivables.
Demonstrated ability to apply cash application techniques and the demonstrated ability to resolve complex problems and perform reconciliations on customer accounts. Demonstrated knowledge of wire payments utilizing the lease accounting software of CFSC, CFSL and Capital Solutions.
Demonstrated ability to create and maintain intermediate Excel spreadsheets and run reports as needed.
Demonstrated ability to develop cash application procedures and training materials.
Demonstrated knowledge of computer systems operations to analyze basic systems problems and deficiencies.
Demonstrated ability to analyze procedures and integrate them with systems to make processes more efficient. Proven knowledge of all interacting departments within the NABC and CFSL.
EDUCATION/EXPERIENCE:
A 4-year university degree or equivalent diploma, preferably in Accounting, is recommended. Equivalent experience may be substituted for education.
Visa Sponsorship is not available for this position. This employer is not currently hiring foreign national applicants that require or will require sponsorship tied to a specific employer, such as, H, L, TN, F, J, E, O. As a global company, Caterpillar offers many job opportunities outside of the U.S which can be found through our employment website at www.caterpillar.com/careers.
Posting Dates:
March 5, 2024 - March 12, 2024
Any offer of employment is conditioned upon the successful completion of a drug screen.
EEO/AA Employer. All qualified individuals - Including minorities, females, veterans and individuals with disabilities - are encouraged to apply.
Not ready to apply? Join our Talent Community (http://flows.beamery.com/caterpillarinc/talcom) .
There's more to work at Caterpillar than just the work itself. We hire smart, friendly people and it shows in our culture. We hold ourselves to high standards and make sure our values of integrity, excellence, teamwork, commitment and sustainability come to life in the way we work. We make sure our employees feel continuously challenged while also supported. We provide professional growth opportunities, including leadership programs. We celebrate the diversity of our team, while also working together as one Caterpillar.
Our culture, like everything at our company, is made possible by each employee's contribution. Person by person, we create the environment we work in, and we are proud of the Caterpillar we've built.
