Cash Receipts Specialist

Workplace Safety and Insurance Board - Toronto, ON (24 days ago)

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Verify accuracy of premium payment information to be applied against employer accounts and ensure prompt daily deposits of all monies received by WSIB. Balance and complete execution of daily electronic transmissions to update employer accounts in accounts receivable system. Answer general inquiries and provide explanations relating to cash application and general ledger entries. Investigate, analyze and resolve discrepancies in deposits made by lockbox agent, e payment or in house processes. Prepare journal entries regarding cash receipts deposits. Deposit and process miscellaneous non-employer payments.

Major Duties & Responsibilities

1. Verify accuracy of payments information and prepare daily deposit to bank of all monies received by WSIB by:

Categorizing funds received;
Balancing deposits to batch totals and payments applied to PS-AR1,AR2, Claims O/P and Misc. by Cash Receipts Clerks;
Requesting transfer of funds between bank accounts where 1 cheque received for payment partly applicable to a Schedule 1 and a Schedule 2 employer account;
Reconciling work of Section co-workers relating to daily deposit has been completed, balanced and updated in AR1, AR2 and WBS claims o/p system and ensuring output reports have been produced;
Prepare bank deposit documentation and arrange for external courier to deliver deposit to bank;
Running PS reports to use in balancing to daily deposit totals;
Preparing daily cash logs and weekly/monthly summary reports of deposits.

2. Control data input to PeopleSoft Accounts Receivable (A/R) system by:

Executing and verifying daily lockbox ,e-payment file and reconciliation data file transmissions;
Verifying and balancing bank deposit with e-payment, APA, EFT and lockbox file detail reports for payments deposited;
Determining if number of errors on files are acceptable or if need to request replacement electronic file from lockbox agent or bank using department guidelines and past experience as criteria;
Analyze, balance and decide when S1 lockbox file, S1 e-payment files are valid and can be released into RESET and AR1 systems, run TSO mainframe jobs to release files once balanced and verify based on department guidelines;
Verifying and uploading the lockbox image CD to imaging application;
Investigating and correcting misapplied payments and other errors identified by other WSIB sections, bank or employers;
Ensuring staff in Production Support section receive daily balancing reports;
Running AR1 reports to balance AR system update and G/L interface entries;
Running AR1 and GL query reports are required.

3. Respond to all Schedule 1 AR payment, miscellaneous payment and G/L inquiries by:

Investigating problem and gathering information required to resolve it;
Correcting errors, if necessary, and informing inquirer of problem resolution.

4. Investigate, analyze and resolve discrepancies in bank's lockbox or e-payment deposits, contact bank, lockbox agent and WSIB staff to request corrections or prepare corrections if possible.

5. Prepare journal entries for cash receipts, corrections, etc.

6. Deposit all miscellaneous non-employer cheques to bank by:
Balancing cheques to batch totals, encoding cheques on cheque encoding equipment, and imaging cheques;
Determining G/L account and responsibility codes to apply miscellaneous cheques to (contact WSIB staff to determine G/L account to apply cheque to if no supporting documentation with cheque);
Preparing G/L entries in PS-G/L system.

7. Perform other related duties as assigned or required such as:

Assisting Coordinator in distribution of work to Cash Receipts Clerks, training co-workers for back-up purposes to process cash receipts and enter in AR1 and AR2 system;
Providing general forecasting figures to Cash Management staff as cheques are received by reviewing mail;
Encoding and imaging cheques;
Obtaining exchange rates for U.S. and foreign cheques;
Creating statistical reports using Excel spreadsheets;
Ensuring all cheques are secured in the safe;
Performing mail processing activities related to lockbox agent courier bag;
Back up Cash Receipts Analyst during their absence and or assist them during high volume peak periods.

Job Requirements :

University completion at undergraduate level with a specialty focus in account/finance or business administration.


Total of two years experience. One year experience in accounting/treasury. One year experience on the job to reach full working level.

As a precondition of employment, the WSIB will require a prospective candidate to undergo a criminal records name check prior to or at any time following hire.

To apply for this position, please submit your application by the closing date noted above.

We appreciate the interest of all candidates. Due to the volumes of applications we receive, we are only able to contact candidates that are selected to move forward in the recruitment process. The WSIB is an equal opportunity employer.

The WSIB is an equal opportunity employer and provides accommodation for job applicants in accordance with the Human Rights Code and the Accessibility for Ontarians with Disabilities Act. If you are an individual with a disability and you need accommodation in order to apply for this position, please contact If you are invited to participate in the assessment process, please provide your accommodation needs at that time. Please be advised that you may be required to provide medical documentation to the WSIB’s Corporate Health Department so that appropriate accommodation can be provided to you throughout the recruitment process.

Employees of the WSIB have important ethical responsibilities, including the obligation to place the public interest above personal interests. Job applicants are therefore required to disclose any circumstance that could result in a real, potential or perceived conflict of interest. These may include: political activity, directorship or other outside employment and certain personal relationships (e.g. with existing WSIB employees, clients and/or stakeholders). Please contact TAC if you have any questions about conflict of interest obligations and/ or how to make a disclosure.

Privacy Statement

Personal information will be collected from your resume, application, cover letter and references under the authority of the Workplace Safety and Insurance Act, 1997 and will be used by the Talent Acquisition Centre and WSIB hiring parties to assess/validate your qualifications and/or determine if you meet the requirements of vacant positions and/or gather information relevant for recruitment purposes. If you have questions or concerns regarding the collection and use of your personal information, contact the WSIB Privacy Office, 200 Front Street West, Toronto, ON, M5V 3J1 or 416-344-5323 or 1-800-387-0750 extension 5323. Be advised that information related to application status will not be provided.