At 118 118 Money, we help people every day. Our innovative personal loans and revolutionary credit cards have been game changers in the UK financial services space, giving folks access to the affordable credit that we believe they deserve. Our customers are at the heart of everything we do and we are continually looking for ways to do things better, in order to do that we’re bulking up our customer support capabilities — that’s where you come in!
Supporting the Assistant Financial Controller in PH and the financial accountant in the UK; the Cash Allocation Assistant will play a pivotal role in in ensuring that all Financial Reporting and Accounting activities are performed in an accurate and timely manner for the business’ loan product.
Key responsibilities will include daily procedures such as, balancing of the operational (LMS) system; bank account reconciliations, suspense accounting and outstanding queries are followed up and cleared in a timely manner with the operational team. Monthly responsibilities will include accrual / prepayment processing, including taking all the accounts up to a trial balance. Monthly responsibilities will include reconciliation of the financial database and Oracle balances and clearance of noted discrepancies.
What you’ll do:
- Daily balancing of client system (LMS) and to report any unusual activity
- Daily completion of transactional client and bank reconciliations
- Posting and allocating of cash.
- Resolve collections issues and address more complex customer issues.
- Managing unallocated cash and ensuring the aging is kept to a minimum.
- Dealing with any payment queries and escalating customer issues as appropriate to senior management.
- Supporting the collections team with payment issues/questions.
- Liaising of any suspense account posting queries noted in the daily cash entries to resolve with the Operations team
- Completion of the suspense accounts reconciliations
- Outstanding items on suspense accounts are reported and followed up for clearance
- Ad hoc requests
- Performs other duties as assigned.
- Reconcile the Financial Database against the Lending Accounts Oracle Balances and clear noted discrepancies;
- Ad hoc requests
- Performs other duties as assigned
The Ideal Candidate
- Provides financial information to management by researching and analysing accounting data; preparing reports.