Job Description

The role needs someone who is technically strong as an accountant first and foremost, but who comes from a law firm background and therefore can oversee the finance operations side (Billing/ Legal Cashiering/ Revenue Control/ Credit Control).The firm has also invested in a new Finance Practice Management System (Aderant) and this person would be involved in that implementation process alongside IT experts.
Specific duties include:

• Prepare the annual budget for the firm.
• Prepare monthly and quarterly management accounts and associated commentary.
• Maintain Cash flow forecasts for the firm and closely monitor the cash position each month.
• Ensure firm lock-up is minimized, by following up with the partners and their PAs to ensure that WIP is billed promptly and that action is taken to recover accounts receivable balances.
• Monitor fee earner time recording, following up with fee earners where time is missing.
• Circulate monthly chargeable hours and weekly capacity reports.
• Assist the billing team with more complex billing issues.
• Prepare the Partner Distribution Schedules and Statements.
• Prepare ad-hoc analysis to support decision making for the Management Team.
• Maintain balance sheet monthly reconciliation processes.
• Maintain Partner current accounts and tax reserve reconciliations.
• Review and approve all firm and client account bank reconciliations.
• Review VAT returns prior to submission.
• Review all manual journals prior to posting (accruals, prepayments, fixed assets, WIP adjustments).
• Run the monthly cost line review meeting and initiate actions.
• Oversee payroll in each office location.
• Respond to accounting, tax, VAT, Solicitor's Accounts Rules and other finance queries.
• Ensure transactions are processed in accordance with UK Solicitor's Accounts Rules.
• Prepare and maintain client billing reports for use in applying client funds across fees and disbursements.
• Review and approve weekly accounts payable payment runs.
• Monitor bank account transactions and approve payments via NatWest Bankline.
• Manage the firm's annual Statutory Accounts audit and work with the Head Cashier on the annual SRA Accounts Rules audit.
• Implementation of New Practice Management System
• Work closely with the project team, the partners and their PAs to design and implement a robust and easy to use Firm system.

On top of the base salary will be entitled to Profit Share Scheme which can average 15-18% of salary each year

Required Knowledge, Skills, and Abilities

Previous experience working as a Head of or Finance controller of a law firm experience is required.