Critical Balance Specialist

4 days ago

Budapest, Budapest, Hungary Cushman & Wakefield Full time €30,000 - €60,000 per year

Job Title

Critical Balance Specialist

Job Description Summary

Primary purpose of the job:

Collect all cash from the (sub)tenants and support the allocation of cash in due course relating to any (sub)leases, collect all VAT invoices, overpayments from landlords/managing agents and support the allocation of landlord/managing agent refund/returned payments in due course relating to any (head) leases of the properties occupied by Cushman & Wakefield's GOS clients in order to enable them to prevent any additional funding or penalty costs.

Job Description

Other professional qualifications required for filling the position:

  • Finance/economics degree is an advantage
  • At least 1-year relevant work experience
  • Finance processing experience in international environment is an advantage

Foreign language skills required for filling the position:

  • English language upper intermediate
  • Knowledge of any other European language is an advantage

Required skills for filling the position:

  • Strong IT literacy
  • Intermediate MS Office
  • Excellent written and verbal communication skills
  • Excellent problem-solving skills
  • Strong analytical mindset
  • Able to work independently and in a team
  • Strong work ethic
  • Flexibility during times of change
  • Ability to effectively prioritize and execute tasks in a high-pressure environment
  • Proactive, enthusiastic and willing to learnt

Responsibilities of the jobholder:

  • Enable the PSC and its Portfolio Admin Lease Finance Team to meet defined performance targets in relation to any cash (tenant/landlord) and VAT invoice collection, cash allocation and all aspects of Lease Finance critical balances or any other Lease Finance activity as required

Regular tasks:

  1. Daily and other BAU tasks to deliver:

  2. Day to day identification of quality issues and risks and escalation of such issues

  3. Establish and maintain professional and effective working relationships with external and internal clients, colleagues and management
  4. To provide advice / support to other team members to enable and ensure their contribution to outputs and adherence to procedures
  5. Ensuring client requirements and Cushman & Wakefield quality procedures are followed
  6. Collaboration with other departments (Data, AP, AR, CA, CC, Estate/Account Management)
  7. Maintain BAU process documentation
  8. Critical balance query management
  9. Cash collection – written and mostly verbal contact with tenants
  10. Cash allocation – matching payments received to outstanding receivables
  11. Liaising with creditors to obtain tax invoices for charges paid/to be paid
  12. Liasing with creditors to obtain any supporting documentation required for tax invoices
  13. Management of debit balances & returned payments/refunds from creditors
  14. Liaising with suppliers, managing agents and other 3rd parties to obtain legal documentation in relation to critical balance queries
  15. Debtor and creditor account reconciliations & query management
  16. Ad hoc reporting on critical balances upon request
  17. Regular monthly reporting on critical balances
  18. Preparation, calculation and instruction of finance amendments to tenant/landlord accounts during critical balance issue resolution
  19. Assist in preparing monthly / quarterly SLA & KPI reports (multiple clients & departments)
  20. Supporting the team's back up structure
  21. Internal and external audit support

Main records and documents kept by the jobholder:

  • All Finance related documentation should be stored on Shared drives or SharePoint according to the documented processes

INCO: "Cushman & Wakefield"

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