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Truckstop.com · 8 hours ago

Sr Cash Application Specialist

United States

Full-time

Onsite

Mid, Senior Level

$60K/yr - $70K/yr

Truckstop.com is a leading provider of SaaS solutions for the freight-moving lifecycle. The Cash Application Specialist is responsible for the accurate application of incoming payments and managing the First Source Cash Application team to ensure efficient operations.

Information TechnologyInternetLogisticsSupply Chain ManagementTransportation

Responsibilities

Apply all posted payments from the previous day with accuracy and timeliness

Investigate and resolve payment exceptions, documenting all issues clearly in UC item descriptions

Charge back any short-paid and overage amounts per policy

Review requested remittances and proactively clear unapplied cash as supporting information is received

Oversee the daily work of the First Source cash application team , ensuring quality, consistency, accuracy, and adherence to Denim standards

Manage all work performed in Bank of America’s IREC system , including:

Debtor name and account matching

Resolving missing or mismatched debtor entries

Exception handling and routing

Clearing batches and preparing items for import into Denim systems

Train FS team members on Denim workflows, cash application logic, and exception-resolution expectations

Establish productivity expectations, SLAs, and quality controls for FS team performance

Serve as the operational escalation point for FS-related issues in IREC

Partner with internal teams to ensure a smooth transition when migrating more volume from EXL to FS

Manage all unapplied cash over 60 days and release it to the client’s reserve when appropriate, unless it meets exception criteria such as refunds or suspected duplicates

Manage refunds and ensure payments are sent back to the proper customer

Support enhancements to payment-application workflows to improve speed, accuracy, and automation

Help build standardized exception handling processes for both Denim and FS teams

Identify recurring issues in remittances, debtor setups, or payment metadata and work with Product/Engineering to improve data integrity

Contribute to automation initiatives that reduce manual work and improve accuracy, especially related to debtor matching and payment ingestion

Work closely with Client Services to resolve payment discrepancies and obtain missing remittances

Partner with Risk, Underwriting, and the Payments App Lead to ensure exception handling aligns with operational standards

Communicate clearly with internal stakeholders when FS or Denim teams require additional information

Qualification

Cash Application ManagementBank of America IRECPayment Exception HandlingProcess OptimizationTeam ManagementCross-Functional CollaborationCommunication Skills

Required

Ensure the accurate, timely, and efficient application of all incoming payments across Denim's factoring operations

Maintain a clean receivables ledger and minimize unapplied cash

Support smooth daily funding activities

Manage the First Source (FS) Cash Application team

Oversee all work completed in Bank of America's IREC system

Perform debtor matching, exception handling, and quality control