Team Leader Cash Allocations

This job is with Thermo Fisher Scientific, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ+ business community. Please do not contact the recruiter directly.

Work Schedule

Second Shift (Afternoons)

Environmental Conditions

Office

Job Description

When you are part of Thermo Fisher Scientific, you’ll do challenging work, and be part of a team that values performance, quality and innovation. As part of a successful, growing global organization you will be encouraged to perform at your best. With revenues of $40 billion and the largest investment in R&D in the industry, we give our people the resources and opportunities to make significant contributions to the world.

Position Summary

As a Team Leader of the Cash Allocations team, your role will involve being responsible for the operations and performance of the team. The primary objective is to ensure the timely and accurate processing of the daily bank statements, achieve all Accounts Receivable (AR) targets relating to unallocated cash receipts while ensuring adherence to Service Level Agreements (SLAs). Additionally, you will be expected to meet the company's targets for effective team management and engagement.

The role would suit a candidate with excellent rapport building ability, strong verbal and written communication skills, strong people management and leadership. Skills. Experience in cash allocations and passion to achieve critical metrics are crucial to fully grasp the complexity of the role.

Responsibilities

• Responsible for performance management and development of the team through regular 1-1s and portfolio reviews
• Responsible for achieving direct team’s target by daily management of Key Performance Indicators related to cash application and adherence to Service Level Agreements
• Lead the reconciliation process to ensure a strong receivable, in strong collaboration with the credit & collections teams.
• Collaborate closely with the Credit & Collections, Treasury and Accounting teams to improve quality and cash flow and to ensure efficient processes.
• Provide support in resolving unreconciled items and unknown customer receipts.
• Maintain accurate documentation and information in compliance with existing processes and regulations.
• Ensure smooth performance of month end activities such as account reconciliation, general ledger close and cash reporting.
• Collaborate effectively with Internal and External Audit teams to facilitate testing procedures.
• Drive a culture of continuous process improvements with the goal of creating lean processes and standardization
• Provide timely insight to leaders of complex team cases that have not been resolved
• Undertake other projects and responsibilities as assigned.
• Ensure the performance of all tasks is carried out in line with company policies, internal controls and Sarbanes-Oxley requirements.
• Align with equal employment opportunity laws, regulations and company policies related to discrimination in hiring, performance managing, promotion and compensation, including sexual harassment.
• Other additional duties or tasks may be assigned periodically by the Line Manager.
  
  

Skills & Qualifications Required

• Skills:
  
  

Strong leadership skills, ability to inspire and motivate team members, set clear expectations, and provide guidance and support.

Effective communication skills are critical in order to convey expectations, provide feedback, and lead successful negotiations.

Strong problem-solving skills to handle complex situations, identify root causes, and develop effective solutions.

Excellent organizational skills: being able to prioritize tasks, manage multiple projects simultaneously, and meet deadlines.

Working collaboratively with other departments, such as Credit & Collections, Treasury and Accounting teams.

Flexibility and adaptability to changing business needs and priorities.

Excellent attention to detail to ensure accuracy in processing, documentation, and reporting.

Solid understanding of basic and advanced accounting principles.

• Qualifications and experience
  
  

Fluent in English.

University or College degree.

Proficiency in Microsoft Office software is required (Outlook, Excel, etc.).

Previous experience in leading an operational team in accounts receivable function in a Shared Service Centre is preferred

Proven experience and capability to handle at least one ERP (SAP, Oracle, JD Edwards, etc.).

At Thermo Fisher Scientific, each one of our 100,000 extraordinary minds has a unique story to tell. Join us and contribute to our singular mission - enabling our customers to make the world healthier, cleaner and safer.

Thermo Fisher Scientific is an EEO/Affirmative Action Employer and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, protected veteran status, disability or any other legally protected status.