Apply for Cash Operations Specialist Role at Goodwin Procter LLP

United States Job Openings

Goodwin Procter LLP

Cash Operations Specialist

New York

FULL TIME

October 16, 2024

Make an impact at Goodwin, where we partner with our clients to practice law with integrity, ingenuity, agility and ambition. We are in the business of building authentic, long-term relationships with our clients, who are some of the world’s most successful and innovative investors, entrepreneurs and disruptors in the life sciences, private equity, real estate, technology and financial industries, and where they converge. Our immersive understanding of these industries – combined with our expertise across high-stakes litigation and dispute resolution, world-class regulatory compliance and advisory services, and complex transactions – sets us apart. Our Global Operations Team – all business professionals of the firm – was named the “Best Business Team” by The American Lawyer.

As a Cash Application Specialist is detail-oriented, and requires an organized, proactive, strong communicator. The Cash Application Specialist must be a problem solver and must be team orientated. This is a high-profile position on the front lines recording daily revenue and communicating with Finance and firm leadership.

What You Will Do:

Manages the Firm’s entire client funds process:

Monitors and posts all client funds wire activity.
Prepares client fund deposits and ensures that all client fund checks are deposited to the appropriate institution on a daily basis.
Maintains all related client funds documentation for each client transaction.
Ensures all Firm policies and procedures regarding the clients funds account are adhered to, and are also in compliance with IOLTA rules and regulations.
Manages and oversees all Firm client funds transactions, manages trust reserve process; communicates with attorneys and Upper Management regarding client funds transactions and cash reporting.

Manages Daily Cash Operations:

Ensures that all payments are posted on a daily basis
Manage cash flow analysis and forecasting, ensuring that cash in the various bank accounts is optimized for firm needs
Reviews and recommend opportunities for additional income from the firm’s excess cash.
Manages firm cash receipts, recording incoming payments and related financial activity on a daily basis.
Manages and monitors all trust reserve balances; coordinates with the appropriate biller or collector to ensure timely client refunds or application of funds.
Acts as Firm liaison with internal clients to ensure all wire instructions and incoming and outgoing wire amounts are precise and accurate; Liaise directly with internal clients to facilitate accurate and timely transmittal of funds.
Works directly with the Accounting Team and Firm Auditors by providing all necessary back-up information regarding client funds, trust reserves and international cash receipts for the on-going/annual Audit Review Process (performed by Price Waterhouse Coopers LLC).
Pursues resolution of unmatched receipts/incomplete payments/other unusual or unclear transactions by collaborating closely with multiple groups within and outside Finance- Billing and Collections team, Attorneys, Secretaries. Build strong relationships that will enable successful collaboration and resolution of issues.
Reconciles daily cash received in the bank to cash applied to the general ledger, resolve variances in a timely manner
Proactively follow up on open items and resolve.
Provide real time updates and daily summaries to Finance and firm leadership
Collaborates with the GL team on daily cash accounting by resolving credits and other unposted bank activity and queries
Evaluates business processes and recommend suggestions for improvements
Maintains and trouble-shoot current technology solutions for cash application.
Prioritizes tasks and identify issues to escalate promptly to Manger, Senior Manager and Controller

Who You Are:

Associate's degree, or equivalent. Bachelor's Degree a plus.
3 years+ of financial experience in a related role; law firm or professional services experience a plus.
Excellent problem-solving skills, undeterred by a challenge
Works well under pressure with time sensitive deadlines
Strong communication skills, ability to provide succinct summaries
Excellent organizational skills, ability to manage multiple efforts simultaneously.
Proficiency in ERP software and Excel

Benefits and More

At Goodwin, you will discover your next career opportunity with a rewarding compensation package and comprehensive benefits, including:

Flexible work arrangements and hybrid work schedule
Health, dental, and vision insurance
Life and disability insurance
Retirement & Savings Plan
Emergency back-up child and adult care
Paid vacation, sick time off, and holidays
Professional development and career advancement opportunities
Employee recognition and reward programs
Employee wellness and assistance programs
Employee discounts and perks

Consistent with the City of Los Angeles’ Fair Chance Initiative for Hiring Ordinance an arrest and conviction record will not automatically disqualify a qualified applicant from consideration.

Consistent with the SF Fair Chance Ordinance, an arrest and conviction record will not automatically disqualify a qualified applicant from consideration.

Goodwin Procter LLP is an equal opportunity employer. This means that Goodwin Procter LLP considers applicants for employment, and makes employment decisions without unlawful discrimination on the basis of race, color, gender, gender identity or expression, age, religion, national origin, citizenship status, disability, medical condition, genetic information, marital status, sexual orientation, military or veteran status, or other legally protected status.

Please note: Various agencies of the United States government require employers to collect information on applicants and employees. The National Association of Law Placement (NALP) and certain clients request us to keep track of certain aggregate information regarding lawyers. EEO information requested on this application is for purposes of compliance with these recordkeeping and reporting requirements and to determine recruiting and employment patterns. Submission of this information is voluntary and refusal to provide it will not subject you to any adverse treatment.

This position is eligible for overtime: Yes

We regret to inform you that this job opportunity is no longer available as it has expired

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