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Cash Manager Job Description

Job Descriptions December 8, 2013

Cash managers are given a very important role within a company to supervise cash assets and protect the company from losses. Considering their level of trust, cash managers earn a salary as high as $76,000, which is not surprising.

The job field is expected to grow, with reputable sources such as the U.S. Bureau of Labor Statistics reporting a job growth of 9% over the next six years. The career outlook is a positive one overall since this is a job title that can move up quickly, perhaps even to a CFO position.

What Does a Cash Manager Do?

The job of the cash manager is not to preside over the cash on hand as a regular manager does, but to oversee an organization’s cash flow. He or she must oversee income on a daily, weekly and monthly basis, ensuring that the accounts match the income reported. The cash manager also reduces the amount of cash in collectable status, all the while maximizing time for disbursing payment.

Cash managers are expected to have advanced knowledge in data collection and invoicing, since human calculations do not have the speed and accuracy of modern software. Using the latest software, managers can ensure that all proceeds and expenses are correct and that they are in compliance with state law. The cash manager does maintain a managerial role and have staff members working under him. They may be responsible for some of the invoicing, but for the most part, managers are responsible for disbursement.

The cash manager also implements new procedures and programs so that the company can take a proactive role in strategizing proper cash flow. If you take on this job position, you are in charge of study trends, understanding variables and planning accordingly. You collaborate with other executives and department managers so that communication is clear and orders are carried out quickly.

Skills That Matter in This Field

The cash manager has responsibility over cash flow and must understand accounting principles, as well as tax benefits and other complex issues related to cash flow on a corporate level. For a solid foundation, a bachelor’s degree will suffice. Aim for a degree in an appropriate course, such as finance, business administration, or accounting. Another possibility is a B.S. or Bachelor of Science degree in a related topic. People skills and work experience are also highly valued.

This is a promising job field with openings in banks, corporations, institutions and large private companies. There is great potential in this field if you can show employers the skills you have, as well as the knowledge you possess in financial subjects. A college education, such as that offered by UMCP, can start you off in the right direction. Put your mathematic skills and ambition to good use by focusing on building a career path now!

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5 Program(s) Found
  • Online degrees offered include BA in Accounting, BA in Business Administration, MBA, and more.
  • Business students may be eligible for scholarships such as the Entrepreneurship Scholarship.
  • Courses help students develop knowledge of marketing, accounting, economic principles, and financial management.
  • Business Administration students can specialize in areas such as Entrepreneurship, Finance, and Project Management.
  • Online Courses
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
5 Program(s) Found
  • Average class size is 25, allowing for more one-on-one time with instructors.
  • Has a 97% employment rate among available graduates.
  • All  graduates receive Lifetime Employment  Assistance—free and forever.
  • Michigan's largest independent college.
  • Most instructors are working professionals in the fields they teach.
  • Programs are continuously updated to ensure classes are career-relevant and in sync with what's needed in the industry
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  • Ranked among top Regional Universities in the South by U.S. News and World Report in 2015.
  • Ranked 37th among the Best Colleges for Veterans by U.S. News and World Report in 2015.
  • Stands as the largest private, nonprofit university in the nation with 100,000+ students.
  • Offers over 230 programs online, from the certificate to the doctoral level.
  • Has a student-faculty ratio of 25:1, and 42.3% of its classes have fewer than 20 students.
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