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Cash Receipts & Client Fund Specialist - Parsippany, NJ

Position Summary

We are seeking a full-time Cash Receipts & Client Fund Specialist with five or more years of experience working in a legal environment. In this position, the individual will be involved in accounting functions including the daily processing of cash receipts (CR), client funds (CF), and related daily reporting. The position will report to the CR & CF Supervisor, the group is managed by the Assistant Controller. The individual will interact with partners and all firm lawyers, senior management, Billing and Collection team, and staff members at every level.

Responsibilities:

Key duties and responsibilities will include, but are not limited to, the following:

  • Process daily cash receipts sessions, posting of lock box sessions, credit card and ACH sessions, presented paper checks, and incoming wire/EFT deposits; including - lockbox imports, e-payment imports, processing remote deposits for collection of live checks delivered to the office; record incoming wires and ACH payments.
  • Balance and reconcile each cash receipt session, correct rejected lock box items, ensure all deposits are recorded daily.
  • Work with the Billing and Collection team to identify posting of cash receipts submitted without a payment advice.
  • Ensure all supporting payment images are imported for all cash receipt sessions.
  • Prepare and review daily bank report for current day and previous day activity, confirm and ensure all cash receipts are recorded promptly.
  • Process cash receipt reversals, application and transfer of client credit balances based on requests received from the billing and collections group.
  • Prepare daily Cash Receipts Report, listing the day’s collections and estimated cash balance.
  • Support client funds daily functions, process transactions - record deposits for incoming wires and checks, ensure proper documentation is provided for all transactions.
  • Process payments and cash disbursements related to client funds transactions based on authorized partner instruction, ensure proper documentation is provided, process disbursement of funds.
  • Review client funds accounts and outstanding check list and take appropriate action.
  • Maintain retainer bank accounts & balances.  Responsible for daily retainer wire transfers at the bank.
  • Participate in firm-wide and departmental projects relating to operational improvements.
  • Proactively look for opportunities to optimize current reporting, accounting workflow, and develop new approaches to gain operational efficiency.

Requirements

  • 5+ years related experience in legal industry, Aderant Expert Software a plus but not required.
  • Experienced in Microsoft Windows, including Word and Excel (including, but not limited to, using functions, formatting spreadsheets and pivot tables)
  • Familiar with MS Outlook
  • Electronic filing of work to align with the Firm's green initiative to reduce paper
  • Ability to work independently and with the team
  • Ability to prioritize rush requests, resolve quickly and provide accurate work product
  • Meet month-end and year-end deadlines