Finance

Cash Management Specialist job description

Hire a Cash Management Specialist to optimize liquidity, manage bank relationships, and oversee daily treasury operations. Learn how this role impacts cash flow.

Published July 10, 2024Updated May 16, 20262996 likes

Explore all roles Browse Finance

Job brief

We are seeking an analytical Cash Management Specialist to join our corporate treasury team and optimize our global liquidity strategy. In this role, you will take ownership of our daily cash positioning, lead our bank portal administration, and implement process improvements for treasury workflows. You will collaborate directly with senior finance leadership and accounting teams to ensure precise forecasting and effective working capital management. If you possess a keen eye for detail and want to manage the heartbeat of our company's financial operations, we invite you to apply.

Key highlights

Execute daily cash positioning and liquidity management across multiple legal entities and bank accounts using our centralized Treasury Management System.
Perform accurate short-term cash flow forecasting by analyzing historical trends and gathering anticipated funding requirements from business units.
Manage daily electronic funds transfer (EFT) operations, including wire transfers and ACH payments, while ensuring adherence to strict security protocols.
Ensure strict compliance with Sarbanes-Oxley (SOX) controls and audit requirements regarding cash handling, bank reconciliation, and treasury processes.

What is a Cash Management Specialist?

A Cash Management Specialist is a vital treasury professional responsible for managing an organization’s liquidity, banking relationships, and short-term investment portfolios. By utilizing sophisticated treasury management systems (TMS) and ERP modules like SAP or Oracle, a Cash Management Specialist ensures the efficient movement of funds and accurate daily cash positioning. Their work is central to maintaining fiscal stability, mitigating counterparty risk, and ensuring the company meets its working capital requirements across global operations.

What does a Cash Management Specialist do?

On a daily basis, a Cash Management Specialist executes wire transfers, monitors bank balances, and reconciles cash accounts to maintain real-time visibility into global liquidity. They work closely with banks to manage electronic funds transfer (EFT) protocols, resolve transactional discrepancies, and forecast near-term cash needs using historical data trends and business unit inputs. Additionally, they ensure full compliance with internal controls and SOX regulations, producing detailed reports for the treasury team to guide high-level investment and debt-repayment decisions.

Key responsibilities

Execute daily cash positioning and liquidity management across multiple legal entities and bank accounts using our centralized Treasury Management System.
Manage daily electronic funds transfer (EFT) operations, including wire transfers and ACH payments, while ensuring adherence to strict internal security protocols.
Perform accurate short-term cash flow forecasting by analyzing historical trends and gathering anticipated funding requirements from domestic and international business units.
Maintain and optimize bank relationships, including the administration of bank portals, user access rights, signature authorities, and corporate account documentation.
Reconcile daily treasury transactions against bank statements to ensure 100% accuracy in the general ledger and resolve any banking discrepancies promptly.
Monitor and report on interest rate exposure, bank fees, and service charges to identify cost-saving opportunities and maintain operational efficiency.
Ensure strict compliance with Sarbanes-Oxley (SOX) controls and audit requirements regarding cash handling, bank reconciliation, and treasury process documentation.
Collaborate with the accounts payable and receivable teams to refine cash cycle efficiency and reduce Days Sales Outstanding (DSO) through improved internal processes.

Requirements and skills

Bachelor’s degree in Finance, Accounting, or Economics, with a preference for CTP (Certified Treasury Professional) certification.
3+ years of experience in corporate treasury or cash management roles, specifically handling multi-currency and multi-bank environments.
Advanced proficiency in Treasury Management Systems (e.g., Kyriba, FIS Quantum) and enterprise-level ERP software like SAP, Oracle, or NetSuite.
Strong technical aptitude for managing bank connectivity protocols such as SWIFT, Host-to-Host, or API-based banking integrations.
Demonstrated ability to perform detailed variance analysis on cash flow forecasts and explain deviations to financial leadership.
In-depth knowledge of financial banking products, including lockboxes, zero-balance accounts (ZBA), and commercial card programs.
Proven experience with SOX compliance documentation and maintaining robust internal controls for financial transactions.
Exceptional ability to synthesize large datasets in Microsoft Excel using pivot tables, VLOOKUPs, and complex formulas for executive reporting.

FAQs

What does a Cash Management Specialist do on a daily basis?

A Cash Management Specialist is responsible for ensuring the organization has enough liquidity to meet its obligations. Daily tasks include reconciling bank statements, initiating wire transfers, managing daily cash positioning, and updating short-term cash flow forecasts to reflect incoming and outgoing payments.

What skills are needed to become a Cash Management Specialist?

Success in this role requires strong analytical abilities, proficiency with Treasury Management Systems (TMS), and advanced Excel skills. Knowledge of banking operations, such as SWIFT and ACH protocols, as well as an understanding of SOX compliance and internal financial controls, is essential for professional advancement.

Who does a Cash Management Specialist work with within an organization?

They serve as a bridge between the finance department and external financial institutions. Within the company, they collaborate frequently with the accounts payable and receivable departments, general accounting teams, and executive-level financial management to provide data-driven insights into the company's financial health.

Why is the role of a Cash Management Specialist important for a company?

This role is critical for maintaining financial stability and maximizing the efficiency of corporate assets. By ensuring accurate forecasting and managing bank relationships, a Cash Management Specialist reduces the risk of liquidity crises, minimizes idle cash, and provides leadership with the reliable data needed for strategic capital allocation.