A cash manager is responsible for monitoring cash flow, analyzing financial transactions, and allocating adequate budget and resources for every department's operations. Cash managers conduct data and statistical analysis to determine the company's expenses and financial loss and strategize techniques in minimizing those risks. They also help senior management in identifying business opportunities that would generate more revenue resources and increase profits for the business. A cash manager handles billing disputes, resolves account discrepancies, and submits accurate financial reports.

Cash Manager Responsibilities

Here are examples of responsibilities from real cash manager resumes representing typical tasks they are likely to perform in their roles.

  • Manage corporate liquidity by developing and implementing daily cash positioning procedures and managing activity on the company's credit facility.
  • Manage KPI and identify gap opportunity analysis, driving improvement solutions and receiving recognition for consistent achievement.
  • Coordinate with the CPA to generate financial statements and general ledger reports in relation to corporate tax returns.
  • Process weekly ACH sweeps from depository accounts to corporate, wire transfers and other banking functions using PC.
  • Assist with billing, A/R and A/P, submission of monthly financials.
  • Report bi-weekly on Sarbanes-Oxley relate to credits, debits and manual price adjustments.
  • Solicit and evaluate proposals (RFP) for various cash management and depository services.
  • Ensure proper controls are in place to accommodate SOX, parent company, and external audit requirements.
  • Communicate daily and weekly with A/R and A/P manager in regards to the cash inflow and outflow.
  • Assist in the identification of opportunities to improve all cash management systems and processes including preparation of RFP's.
Cash Manager Traits
Organizational skills are essential to working as efficiently as possible through being able to focus on projects at hand while also keeping a clean workspace.
Analytical skills have to do with gathering information from various sources and then interpreting the data in order to reach a logical conclusion that benefits the business.
Communication skills shows that you are able to relay your thoughts, opinions and ideas clearly to those around you.

Cash Manager Job Description

Between the years 2018 and 2028, cash manager jobs are expected to undergo a growth rate described as "much faster than average" at 16%, according to the Bureau of Labor Statistics. So if the thought "should I become a cash manager?" Has crossed your mind, maybe you should take the growth rate into account. In addition, the number of cash manager opportunities that are projected to become available by 2028 is 104,700.

Cash managers average about $37.0 an hour, which makes the cash manager annual salary $76,952. Additionally, cash managers are known to earn anywhere from $49,000 to $119,000 a year. This means that the top-earning cash managers make $70,000 more than the lowest earning ones.

As is the case with most jobs, it takes work to become a cash manager. Sometimes people change their minds about their career after working in the profession. That's why we looked into some other professions that might help you find your next opportunity. These professions include a manager finance planning and analysis, manager/finance accounting, business manager-finance manager, and credit and collection manager.

Cash Manager Jobs You Might Like

Cash Manager Resume Examples

Cash Manager Skills and Personality Traits

We calculated that 35% of Cash Managers are proficient in Procedures, Customer Service, and Financial Statements. They’re also known for soft skills such as Organizational skills, Analytical skills, and Communication skills.

We break down the percentage of Cash Managers that have these skills listed on their resume here:

  • Procedures, 35%

    Collaborate with operations and revenue management on posting policies and procedures to promote accurate and timely cash posting.

  • Customer Service, 28%

    Managed customer service department in addition to existing responsibilities, maintaining a high level of customer fulfillment.

  • Financial Statements, 5%

    Examined and analyzed accounting records and financial statements to assess accuracy and completeness to reporting and procedural standards.

  • General Ledger Accounts, 3%

    Reconciled general ledger accounts for gift certificates, bridal department deposits and furniture department deposits on a monthly basis.

  • ACH, 3%

    Initiated ACH, internal transfers, stop payments, opening/closing of accounts, and positive pay daily for all hotels.

  • Bank Deposits, 2%

    Prepare and balance the safe, collection and verification of all cash transactions, prepare all nightly bank deposits

"procedures," "customer service," and "financial statements" aren't the only skills we found cash managers list on their resumes. In fact, there's a whole list of cash manager responsibilities that we found, including:

  • Organizational skills can be considered to be the most important personality trait for a cash manager to have. According to a cash manager resume, "because financial managers deal with a range of information and documents, they must stay organized to do their jobs effectively." Cash managers are able to use organizational skills in the following example we gathered from a resume: "handled monthly tax reports and payroll skills used organizational skills payroll quickbooks tax reports"
  • Another trait important for fulfilling cash manager duties is analytical skills. According to a cash manager resume, "financial managers increasingly are assisting executives in making decisions that affect their organization, a task that requires analytical ability." Here's an example of how cash managers are able to utilize analytical skills: "developed customized, accurate working aging reports through our erp system for cleaner and more concise analysis of our total ar. "
  • Cash managers are also known for communication skills, which can be critical when it comes to performing their duties. An example of why this skill is important is shown by this snippet that we found in a cash manager resume: "excellent communication skills are essential because financial managers must explain and justify complex financial transactions." We also found this resume example that details how this skill is put to the test: "deliver excellent customer service and communications skills. "
  • In order for certain cash manager responsibilities to be completed, the job requires the skill "detail oriented." According to a cash manager resume, "in preparing and analyzing reports such as balance sheets and income statements, financial managers must be precise and attentive to their work in order to avoid errors." As an example, this snippet was taken directly from a resume about how this skill applies: "forged mutually beneficial relationships with financial institutions as part of objective to detail service mandates. "
  • As part of the cash manager description, you might find that one of the skills that might be helpful to the job is "math skills." A cash manager resume included this snippet: "financial managers must be skilled in math, including algebra" This skill could be useful in this scenario: "monitored borrowing levels and statistics to ensure the company was in compliance with all debt covenants. "
  • See the full list of cash manager skills.

    Before becoming a cash manager, 64.5% earned their bachelor's degree. When it comes down to graduating with a master's degree, 11.0% cash managers went for the extra education. If you're wanting to pursue this career, it may be possible to be successful with a high school degree. In fact, most cash managers have a college degree. But about one out of every eight cash managers didn't attend college at all.

    The cash managers who went onto college to earn a more in-depth education generally studied business and accounting, while a small population of cash managers studied finance and economics.

    Once you're ready to become a cash manager, you should explore the companies that typically hire cash managers. According to cash manager resumes that we searched through, cash managers are hired the most by Jetro Cash & Carry Enterprises, Accenture, and Verizon Communications. Currently, Jetro Cash & Carry Enterprises has 51 cash manager job openings, while there are 24 at Accenture and 7 at Verizon Communications.

    If you're interested in companies where cash managers make the most money, you'll want to apply for positions at Key Safety Systems, PayPal, and Navigant Consulting. We found that at Key Safety Systems, the average cash manager salary is $109,766. Whereas at PayPal, cash managers earn roughly $103,486. And at Navigant Consulting, they make an average salary of $99,934.

    View more details on cash manager salaries across the United States.

    Some other companies you might be interested in as a cash manager include Procter & Gamble, JPMorgan Chase, and AT&T.; These three companies were found to hire the most cash managers from the top 100 U.S. educational institutions.

    For the most part, cash managers make their living in the retail and finance industries. Cash managers tend to make the most in the automotive industry with an average salary of $91,926. The cash manager annual salary in the manufacturing and finance industries generally make $87,454 and $83,903 respectively. Additionally, cash managers who work in the automotive industry make 19.3% more than cash managers in the health care Industry.

    The three companies that hire the most prestigious cash managers are:

      What Manager Finance Planning And Analysiss Do

      A manager finance planning and analysis oversees the daily operations of a company's financial planning department. They typically have administrative duties such as setting goals and guidelines, establishing timelines and budgets, delegating tasks among teams and staff, and reviewing financial reports regularly. They also perform research and assessments, gather and analyze financial data from different departments, coordinate staff, and solve issues and concerns when any arise. Additionally, as a manager, they must lead and empower staff to reach goals while implementing company policies and regulations.

      In this section, we take a look at the annual salaries of other professions. Take manager finance planning and analysis for example. On average, the managers finance planning and analysis annual salary is $32,982 higher than what cash managers make on average every year.

      While the salaries between these two careers can be different, they do share some of the same responsibilities. Employees in both cash managers and managers finance planning and analysis positions are skilled in customer service, financial statements, and general ledger accounts.

      These skill sets are where the common ground ends though. A cash manager responsibility is more likely to require skills like "procedures," "ach," "bank deposits," and "treasury operations." Whereas a manager finance planning and analysis requires skills like "financial performance," "financial models," "business development," and "special projects." Just by understanding these different skills you can see how different these careers are.

      Managers finance planning and analysis receive the highest salaries in the media industry coming in with an average yearly salary of $135,230. But cash managers are paid more in the automotive industry with an average salary of $91,926.

      On average, managers finance planning and analysis reach higher levels of education than cash managers. Managers finance planning and analysis are 28.4% more likely to earn a Master's Degree and 0.7% more likely to graduate with a Doctoral Degree.

      What Are The Duties Of a Manager/Finance Accounting?

      A manager of finance accounting's role is to oversee the financial activities in a company or organization. Their responsibilities revolve around coordinating with other departments to gather financial data, analyze the revenues and expenditures, and develop written reports and presentations. A manager of finance accounting must also maintain accurate financial records, identify any errors or inconsistencies, and perform support tasks for staff when necessary. Furthermore, as a manager, it is essential to lead and encourage the team, all while implementing the company's policies and regulations.

      The next role we're going to look at is the manager/finance accounting profession. Typically, this position earns a higher pay. In fact, they earn a $9,375 higher salary than cash managers per year.

      A similarity between the two careers of cash managers and managers/finance accounting are a few of the skills associated with both roles. We used resumes from both professions to find that both use skills like "procedures," "customer service," and "financial statements. "

      In addition to the difference in salary, there are some other key differences that are worth noting. For example, cash manager responsibilities are more likely to require skills like "bank deposits," "treasury operations," "wire transfers," and "pos." Meanwhile, a manager/finance accounting might be skilled in areas such as "cpa," "ensure compliance," "due diligence," and "special projects." These differences highlight just how different the day-to-day in each role looks.

      Managers/finance accounting may earn a higher salary than cash managers, but managers/finance accounting earn the most pay in the media industry with an average salary of $109,171. On the other side of things, cash managers receive higher paychecks in the automotive industry where they earn an average of $91,926.

      In general, managers/finance accounting study at higher levels of education than cash managers. They're 17.1% more likely to obtain a Master's Degree while being 0.7% more likely to earn a Doctoral Degree.

      How a Business Manager-Finance Manager Compares

      A business manager/finance manager is responsible for handling the financial transactions of an organization, analyzing financial reports, and monitor investment activities. Business managers/finance managers strategize effective techniques to boost the organization's financial performance and identify business opportunities to increase revenues. They also prepare financial statements and assist senior management in making corporate decisions by conducting data and statistical analysis by studying market trends. A business manager/finance manager must have excellent critical thinking and analytical skills, especially in calculating costs and expenses to minimize the company's loss and stabilize profits.

      The business manager-finance manager profession generally makes a higher amount of money when compared to the average salary of cash managers. The difference in salaries is business manager-finance managers making $36,823 higher than cash managers.

      By looking over several cash managers and business manager-finance managers resumes, we found that both roles utilize similar skills, such as "customer service," "financial statements," and "general ledger accounts." But beyond that the careers look very different.

      As mentioned, these two careers differ between other skills that are required for performing the work exceedingly well. For example, gathering from cash managers resumes, they are more likely to have skills like "procedures," "ach," "treasury operations," and "wire transfers." But a business manager-finance manager might have skills like "project management," "business partners," "ensure compliance," and "financial management."

      Business manager-finance managers make a very good living in the finance industry with an average annual salary of $131,762. Whereas cash managers are paid the highest salary in the automotive industry with the average being $91,926.

      When it comes to education, business manager-finance managers tend to earn higher education levels than cash managers. In fact, they're 17.2% more likely to earn a Master's Degree, and 0.2% more likely to graduate with a Doctoral Degree.

      Description Of a Credit And Collection Manager

      A credit and collection manager is responsible for evaluating credit services and supervising the credit and collection team in reaching out to clients with outstanding debts and credit applications. Credit and collection managers oversee the cash flow systems and identify opportunities to minimize excessive loss and resolve credit disputes. They also determine a customer's eligibility for credit options by analyzing documents and financial status. A credit collection manager must have excellent communication and analytical skills to process receivables and perform credit reconciliations accurately and efficiently.

      The fourth career we look at typically earns higher pay than cash managers. On average, credit and collection managers earn a difference of $5,692 higher per year.

      While their salaries may vary, cash managers and credit and collection managers both use similar skills to perform their jobs. Resumes from both professions include skills like "customer service," "financial statements," and "general ledger accounts. "

      Each job requires different skills like "procedures," "payroll," "process improvements," and "external auditors," which might show up on a cash manager resume. Whereas credit and collection manager might include skills like "credit reports," "credit limits," "delinquent accounts," and "past due accounts."

      In general, credit and collection managers make a higher salary in the manufacturing industry with an average of $83,250. The highest cash manager annual salary stems from the automotive industry.

      The average resume of credit and collection managers showed that they earn lower levels of education to cash managers. So much so that the likelihood of them earning a Master's Degree is 7.6% less. Additionally, they're more likely to earn a Doctoral Degree by 1.0%.