Cash Office Job Description

By | September 8, 2011

Cash office job description and profile

Cash office job in a financial institution entails cash management and loan approval processing. These must be according to the rules and regulations, industry policies, and top management guidelines. A cash office job in a non-financial setup is responsible for the treasury operations of the company. He or she must assess the daily cash balances and ensure that the short-term financial needs of the company are adequately met. The individuals are responsible for arranging finance for meeting the company’s long-term fund requirements. The cash office personnel keep a check on the regular cash flows of the organization and tracks trends in the working capital of the company.

Cash office duties and responsibilities

  • Collecting checks, drafts, and money orders
  • Recording cash inflows and outflows
  • Tracking the company’s periodic cash flows
  • Checking for variances, if any
  • Providing receipts for all the cash inflows
  • Ensuring the receipts for all payments are received
  • Maintaining financial records

Cash office education, training, and qualifications

A bachelor’s degree from a community college or an equivalent is the minimum educational requirement for this position. Individuals who have undergone training in accounting, finance, business management, and treasury operations are preferred by most employers. To obtain a senior position, individuals require an additional qualification of a master’s degree in business administration or a certified public accountant license. A formal training in computers providing an understanding of MS Office applications is recommended.

Cash office degrees, courses, and certification

A bachelor’s degree in accounting and/or finance is preferred by employers while hiring individuals in this job opening. Additional master’s degree in finance, accounts, or business administration is beneficial. Procuring a license by successfully completing the certified public accountant course is advantageous for procuring senior-level opportunities. Several individuals working in cash office jobs take the continuing professional education course every year. Additionally, on-the-job training and relevant work experience are important to continue growing in this field of cash office jobs.

Cash office skills and specifications

  • Excellent mathematical abilities
  • Understanding basic accounting principles and terminologies
  • Strong problem-solving capabilities
  • Awareness on the governing rules and regulations on cash management
  • Financial competencies
  • Ability to work on Office applications
  • High ethical standards
  • Knowledgeable on the filing norms of the Securities and Exchange Commission
  • Ability to comply with the Internal Revenue Service guidelines

Cash office salary

The average salary for individuals employed in cash office jobs is from a low of $75000 per year to a high of $145000 per annum.