Associate - Cash Application

About Aptia

Founded to shape the future of pensions, health, and insurance solutions, Aptia is a leading professional services firm dedicated to simplifying complexity for businesses and individuals. We bring together cutting-edge technology and deep industry expertise to help organisations navigate an evolving landscape with clarity and confidence.

With a presence in the US, UK, India, and Portugal, we support over six million people and more than 1,100 clients, delivering solutions that drive efficiency, enhance financial security, and provide peace of mind.

Our strength lies in the combination of smart technology and expert teams, ensuring that managing pensions, health, and insurance is more effective. By focusing on innovation, accessibility, and client success, we help businesses take care of their people, so they can focus on what they do best.

And we are expanding. Aptia Group is not only fueled by our investors' backing but also by our commitment to foster the growth and success of our people. At Aptia, we're investing heavily in learning and development, paving unique career paths for our colleagues.

Specialist. Responsive. Thoughtful. Our values aren't just words; they are the backbone of our business. Our team embodies our values daily, to surpass client expectations, evolve constantly and nurture genuine relationships for the long-term.

Job requirements

The Cash Application Analyst is responsible for the accurate and timely allocation of incoming payments to the appropriate invoices and accounts. The role investigates unapplied, unidentified, and misapplied receipts; performs bank and account reconciliations; resolves payment queries; and maintains the integrity of financial records. The analyst partners with Billing, Collections, Client Services, Treasury, Finance, and Technology to support an efficient end-to-end Order-to-Cash (O2C) process, effective controls, reporting, and continuous improvement.

Cash Application and Payment Allocation

Process and apply electronic transfers, cheques, direct deposits, and other receipts accurately within agreed SLA timelines.

Match payments to invoices, policies, client accounts, or other financial records using bank statements, remittance advice, and payment references.

Process approved adjustments, deductions, refunds, and account entries while maintaining complete documentation and audit trails.

Maintain accurate customer account records in the relevant ERP or accounting system.

Unapplied and Unidentified Cash Management

Investigate and resolve unapplied, unidentified, short-paid, overpaid, and misapplied cash items.

Coordinate with internal teams and external clients to obtain missing remittance details and clear outstanding balances.

Monitor aging and escalate long-outstanding or high-value items according to established procedures.

Maintain records of investigations, communications, resolutions, and corrective actions.

Reconciliation and Financial Controls

Perform daily, weekly, and monthly bank, cash, and customer account reconciliations.

Reconcile bank receipts against ERP postings, investigate differences, and resolve discrepancies promptly.

Support month-end and year-end close activities related to cash application and accounts receivable.

Comply with accounting standards, financial regulations, internal controls, and organizational policies.

Maintain audit-ready documentation and support control testing, internal and external audits, and remediation activities.

Stakeholder and Query Management

Collaborate with Billing, Collections, Client Services, Treasury, Finance, and other teams to resolve allocation and account issues.

Engage clients, customers, and banking partners to obtain remittance details and clarify payment discrepancies.

Resolve stakeholder queries within agreed turnaround times and provide clear updates on risks, issues, and dependencies.

Escalate complex, high-risk, or unresolved matters to the team lead or manager.

Reporting and Analysis

Prepare and analyze O2C metrics, including cash application accuracy, unapplied cash aging, allocation turnaround time, DSO, receivables aging, and cash flow projections.

Monitor performance against SLAs, targets, and KPIs; identify trends, recurring issues, root causes, and improvement opportunities.

Develop regular reports, dashboards, aging analyses, and management insights, ensuring data accuracy and completeness.

Communicate performance, operational risks, and corrective actions to relevant stakeholders.

Process Improvement and Automation

Identify opportunities to streamline, standardize, and automate cash application and broader O2C processes.

Recommend and implement improvements that enhance efficiency, accuracy, control, and customer experience.

Maintain SOPs, process maps, control documentation, and training materials.

Participate in system enhancements, automation projects, user acceptance testing, and process migrations.

Work cross-functionally to track improvement benefits, address gaps, and share best practices.

Required Qualifications and Experience

Bachelor's degree in Commerce, Finance, Accounting, or a related field.

1 to 5 years of experience in Cash Application, Accounts Receivable, or O2C.

Hands-on experience in payment allocation, cash posting, reconciliations, and unapplied cash management.

Experience with Microsoft Dynamics 365, Oracle, or a similar ERP or financial system.

Strong Microsoft Excel skills, including PivotTables, lookup functions, data reconciliation, and reporting.

Knowledge of accounting concepts, accounts receivable processes, financial controls, SLAs, and KPIs.

Key Skills and Competencies

TECHNICAL AND FUNCTIONAL

• Cash application and payment allocation

• Bank and statement reconciliation

• Accounts receivable and O2C operations

• Unapplied cash management

• ERP systems and Microsoft Excel

• Financial reporting and analysis

BEHAVIORAL

• Analytical problem-solving

• Accuracy and att