Cash Management Officer Salary
The average pay for a Cash Management Officer is $64,261 per year. The highest paying skills associated with this job are Cash Flow Management and Sales. Most people with this job move on to other positions after 20 years in this career.
|Salary||$39,902 - $89,396|
|Bonus||$301.28 - $19,574|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$26,223 - $95,862|
|Hourly Rate||$9.70 - $20.63|
|Bonus||$301.28 - $19,574|
|Total Pay (||$26,223 - $95,862|
Job Description for Cash Management Officer
Banks and financial institutions' business clients have banking needs that individuals may not have, and the person who helps business account holders with their needs is the cash management officer. This person helps guide the sale and implementation of cash management services to businesses, as well as helps design and tailor accounts and services to meet the unique requirements of these companies.Read More...
For most large businesses, having cash on hand simply sit in a bank account is an inefficient, wasteful use of the company’s money; most organizations prefer to use investments and other vehicles to increase their monetary assets. These businesses do need to keep some cash available for needs such as purchasing, payrolls, and repairs and maintenance. The cash management officer helps set up a variety of accounts and transfer rules that allow the business to maximize the efficiency with which their cash is managed.
Cash management officers must have an excellent understanding of the account and management products their financial institutions offer. They must be creative and be able to work within the banking rules to help establish accounts and account rules that work for their clients. Additionally, many banks expect that their cash management officers to actively market to prospective customers.
To work in this field, an individual typically must possess a bachelor’s degree in business, accounting, finance, or a related field. Additionally, most banks require relevant experience, including working with business accounts. Because of the need for familiarity with the institution’s products, many employers prefer to hire from within their organization to fill these positions. Cash management officers typically work during regular business hours in an office setting, although marketing services may require occasional travel.
Cash Management Officer Tasks
- Secure new business through marketing products and advising prospects on cash management options and account structuring.
- Provide information and training to staff and customers as needed.
- Analyze market and customer needs to recommend appropriate strategic initiatives.
- Nurture post sales relationships by maintaining sales documentation and follow-up calls to ensure additional client needs are met.
Pay by Experience Level for Cash Management Officer
Median of all compensation (including tips, bonus, and overtime) by years of experience.
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Key Stats for Cash Management Officer
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based on 11 votes.