New Commercial Finance Manager position available at leading global law firm.
This is a practice group specific role and will be the main finance point of contact for one of the firms larger practice groups which makes up 40% of the firms revenue, with c. 275 fee earners globally, 75 partners and £180 million turnover.
This is a global role with the majority of partners in London & the US, with a few across Europe and APAC.
Specific duties for the role include:
- Build and maintain a deep understanding the divisional finances, performance drivers and KPIs and alongside the management reporting team provide ongoing analysis of variances to budget and value-added financial insight to division and firm management.
- Ensure timely, relevant and informative financial communication is disseminated throughout the division, tailoring the messaging to suit the audience and providing information to inform, motivate, change behaviours and focus as appropriate.
- Proactively review the division's financial performance highlighting specific areas of concern, devising and implementing plans with regional and divisional management.
- Assist with the co-ordination of the billing and collections processes within the division, driving the processes and identifying and/or resolving any issues in these processes alongside local billings and credit control teams.
- Monitor financial hygiene within the division, working closely with fee earners, regional finance teams and credit committees on financial exposures (both WIP and debt), as well as overseeing time recording across the division and engaging with fee earners as issues arise.
- Alongside HR monitor utilisation at a fee earner level, flagging potential areas of concern to divisional management and taking action where appropriate.
- Assisting local offices with the transition to client relationship teams; helping to engage, educate and motivate current and new team members and be a key liaison between the teams and regional finance to deliver effective billing, collection and financial hygiene practices.
- Work with the Head of Pricing to implement pricing initiatives across the division including adoption of the pricing tool.
- Develop an in-depth understanding of pricing practices in the division and assist with profitability analysis for new and existing matters and clients.
- Work with the division and Head of Pricing on key pricing priorities such as developing effective pricing strategies for entry level products.
- Alongside the division and pricing team develop and implement appropriate charge-out rates, both for new joiners and during the annual charge-out rate-setting process.
- Support divisional management in creating, developing and implementing the division's strategy, and subsequently the annual business plan.
- Lead the division's involvement in the annual financial planning process with a specific focus on the profitability model.
- Understand the financial business case for each lateral partner, including involvement in any finance-focused interviews as appropriate.
- Develop lateral partner models and work with division management to produce partner vote memos for potential lateral partners
- Liaise with regional finance teams to ensure the smooth financial integration of new lateral partners.
Experience needed for this role includes:
- Significant experience within a commercial finance/ finance business partnering role in a law firm or wider professional services firm (A partnership environment is a non-negotiable for this hire).
- Hold an up to date accountancy qualification (ACCA/ACA/CIMA)
- Sophisticated communication skills with good written, listening, presentation and influencing skills. A persuasive presenter and equally comfortable engaging with partners, peers, or others throughout the firm.
- Be able to build relationships internationally.
- Excellent financial analytical skills and an ability to present data and analysis in a clear, concise and engaging way.
- Strong commercial aptitude with a modern, pro-active approach.
- Have an outgoing personality with a "glass half full approach"
Must be willing to be office based 2 days a week (at a minimum)
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