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, etcMeasuring performance at the team level and individual agent levelLeading and providing feedback to cash application analystsMinimize unapplied cash and credits on our financials

RESPONSIBILITIES

Maintain unapplied/unidentified payments and credit memos within agreed and accepted parameters and monthly objectivesManage the performance of Cash Applications team and provide timely feedbackAssist in managing bank relationships for cash receipts and lockbox activityAssist in managing credit card processor relationships and related reportingManage the BillTrust relationship for cash receiptsOversee cash applications, interactions with collections, customers, and salesTrain and mentor Cash Applications Analysts on customer interaction, product knowledge, and customer serviceReview client accounts on an ongoing basis to assess misapplied cash and remedy unapplied credit balances timelyAudit cash and credit memo allocations on a customer account level and provide feedback for the cash application AnalystsAssist other departments (sales, legal, general accounting) with Cash application activities as neededLead special projects as required by senior managementAnalyze and improve all Cash receipts and credit memo application processesManage migration from multiple legacy financial systems to Oracle CloudManage improvement ideas to create efficiencies in the cash application cyclesAssist the quarterly, monthly, and yearly internal and external audit cycleOversee the daily and monthly reconciliation activities and deadlines (following daily Cash applications calendar and Monthly reconciliations and GL closing calendars). Propose and implement solutions for the reduction of manual workOversee and streamline credit card chargebacks processes across all CoStar brands, merchants, and systemsSupport the team with customer and cross-functional escalationsOversee SalesForce case processing turnaround time of the Cash applications teamOversee the end-to-end processing cycle of customer refunds and turnaround time. Drive the implementation of end-to-end refunds reconciliation and the reduction of processing timeReview and approval of all customer refunds (check, ACH, wires, and credit cards)Act as SPOC for internal Tax department and external US Government and Unclaimed credits/Escheatment regulatory bodies. Manage the escheatment reporting and auditing cycle of reversals and approve escheatment refunds upon request

BASIC QUALIFICATIONS

Bachelor’s degree in finance, accounting, business, or related degree from an accredited, not-for-profit University or CollegeA track record of commitment to prior employers8+ years of management experience in a corporate environment4+ years of experience in cash applications, collections, or billing in a high-volume corporate environmentDemonstrated process orientation - ability to analyze processes, improve processes and measure process quality and scaleExcellent organizational skills and attention to detailStrong data analyticsAdvanced Microsoft Excel required

PREFERRED QUALIFICATIONS AND SKILLS

Six Sigma certificationDemonstrated ability to work across departments to achieve goals including Tax, G/L, FP&A, Treasury, Sales & ITDemonstrated understanding of entire order to cash cycle in B2B environmentExperience with Microsoft Navision, Oracle ERP, SalesForce or other large ERP systems

What’s in it for you?   

When you join CoStar Group, you’ll experience a collaborative and innovative culture working alongside the best and brightest to empower our people and customers to succeed.  

  

We offer you generous compensation and performance-based incentives. CoStar Group also invests in your professional and academic growth with internal training, tuition reimbursement, and an inter-office exchange program.  

Our benefits package includes (but is not limited to):  

Comprehensive healthcare coverage: Medical / Vision / Dental / Prescription Drug  Life, legal, and supplementary insurance  Virtual and in person mental health counseling services for individuals and family  Commuter and parking benefits  401(K) retirement plan with matching contributions  Employee stock purchase plan  Paid time off  Tuition reimbursement  On-site fitness center and/or reimbursed fitness center membership costs (location dependent)  Access to CoStar Group’s Diversity, Equity, & Inclusion Employee Resource Groups  Complimentary gourmet coffee, tea, hot chocolate, fresh fruit, and other healthy snacks  

  

We welcome all qualified candidates who are currently eligible to work full-time in the United States to apply. However, please note that CoStar Group is not able to provide visa sponsorship for this position.

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CoStar Group is an Equal Employment Opportunity Employer; we maintain a drug-free workplace and perform pre-employment substance abuse testing