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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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Sponsored

Showing schools in your area

5 Program(s) Found
  • Boldly pursue your future in business with an online degree from Post University
  • Degrees at all levels with concentrations in Finance, Marketing, and much more
  • Ranked in the Best Online Bachelors Programs for Veterans by US News & World Report
  • Ranked in the Best Online Bachelor’s Programs by the US News & World Report
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Liberty University provides a worldclass education from a christ-centered worldview
  • 100% online programs at associate, bachelor’s, master’s, and doctoral levels
  • No standardized testing if student meets admission requirements
  • Accredited by the Southern Association of Colleges and Schools Commission on Colleges
  • 87% of Liberty University students receive some form of financial aid
  • Online Courses
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Hallmark University has a modern approach to business education. Our students are "hired" on day one to a mock company and live out their education as if on the job.
  • Students also gain valuable work experience having gone through real case studies from Fortune 100 companies.
  • By utilizing compressed, objective-driven courses, you can complete your education in nearly half the time of a similar program at a traditional college or university.
  • Each of our courses are designed to include scenario-based activities. You get to practice what you learn so you're ready for the challenges you will face when you graduate.
  • Our graduates enter the workforce with experience employers desire in addition to a credible degree.
  • Don't settle for learning in large lecture halls. Get the attention needed to succeed.
  • Online Courses
5 Program(s) Found
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  • Accelerated programs designed for convenience: choose from weekly evening courses at one of Averett's Virginia locations or study online and on your own time.
  • Averett University was named one of Virginia’s top colleges for return on investment, and their average scholarship package lowers the cost of attendance further by almost 40%.
  • Averett offers students learning experiences that mirror real-life situations. This means you can put today's lesson to the test during tomorrow’s workday.
  • Averett University's 12:1 student-professor ratio makes your education a collaborative endeavor based on close relationships between students and faculty.
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