Cash Manager Job Description

Posted in Job Descriptions

A cash manager handles the financial transactions of a company and/or client. He can be employed in a number of different industries and handle different accounts at the same time. The cash manager keeps a close eye on an organization’s or client’s profitability and monitors the risks and losses as well. Sometimes, the manager may also be assigned to handle a group of people under him.

Duties of a cash manager include handling cash management operations, overseeing account administration, reviewing and implementing improvement in cash management, and ensuring financial obligations are met by the organization. A cash manager also assures that the organization adheres to the company policies and procedures; completes all cash management documentation for different departments; prepares reports and proposals for cash management improvement. He/she also reconciles cash application and disbursements in a timely manner; monitors cash transactions and ensures a balanced account; forecasts and monitors cash flow in a weekly, monthly, quarterly and annual manner. Cash managers may also be responsible for preparing cash flow reports for upper management use, identifying and evaluating variances with other departments to forecast timing and amount of future cash flows, receiving wire transfers and handling outgoing wire transfers; as well as assisting in financial reporting.

Education and Training Requirements
Most cash managers earn a bachelor’s degree or master’s degree in order to be hired by potential and large employers. They typically focus on courses like business, math, finance, administration, accounting and economics. Some cash managers see the importance of getting certified. Most importantly, they should have experience in handling financial transactions such as previously being an accountant, tax socialists or auditor.

Knowledge and Skills Requirements
A cash manager must possess exceptional communications skills as he deals with people from the top management, clients, customers, and staff. He/she must be analytical, professional and organized. Cash managers should know how to work independently and as part of a team. They must have excellent mathematical skills and have basic understanding of finance-related computer programs.

Working Conditions
Cash managers must dress in a very professional manner. They are expected to work long hours, with some positions requiring an average of 50 hours a week. Their work consists of having many scheduled meetings and presentations in order to update their client and upper management on the organization’s financial status. Travel may be essential especially when handling financial operations in rather large companies.

A cash manager’s average annual salary is $53,000, which will vary on the cash manager’s experience and the industry he works in.

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