NEWLY created Financial Reporting Manager role now available in London based law firm.
As the Finance Reporting Manager, you will manage a team to plan and deliver the firm's budgeting, forecasting, financial accounting and reporting.
You must be a qualified accountant with a minimum of 5 years PQE (ideally all at manager level) and legal sector experience is essential.
Specific duties include:
- Review and publish monthly management accounts and associated reports within agreed timescales
- Review and publish monthly cashflow and P&L forecasts
- Meet with budget holders to prepare and agree annual revenue and expenditure budgets
- Review and publish monthly expenditure reports (opex and capex) to relevant budget holders
- Take full ownership of the general ledger, ensuring data integrity through the regular review of transactions and by providing guidance to finance and non-finance staff
- Perform and review general ledger accounting for accruals, provisions, prepayments, fixed asset depreciation and internal recharges
- Ensure that the firm's balance sheet accounts are regularly reconciled, including its bank accounts (daily), accruals, provisions, fixed assets and prepayments
- Review and publish other recurring reporting to relevant stakeholders (e.g. weekly utilisation reports, quarterly TME reports, quarterly CP/MP reports)
- Prepare and present insightful ad-hoc financial management information to support our legal group heads and other partners in leading their practices (e.g. presenting at team away days)
- Analyse and publish performance in relation to the fee earner bonus scheme
- Review and publish performance in relation to various individual consultancy commission agreements
- Conduct profitability analysis at team, partner, client and matter level (including matter post mortems)
- Review and provide financial information for legal press surveys, new business pitches, panel reviews and for other marketing purposes
- Review and publish annual statutory accounts and corporation tax returns
- Review and publish other external reporting information (e.g. ONS returns, payment performance reporting, carbon reporting)
- Review and oversee all direct to client reporting
- Provide reporting support to the revenue and cashiering teams
- Oversee all other internal and external reporting delivered by the reporting team
- Maintain the firm's compliance with applicable HMRC legislation, Solicitors' Accounts Rules and accounting standards
- Meet with budget holders to analyse and review expenditure
- Help the firm to manage and reduce it lock up by promoting best practice and through the provision of appropriate targeted reporting
- Manage the year-end financial audit
- Identify and address financial risks and opportunities
- Review and validate office and client payments
- Play an active role in the firm's practice management system replacement project to ensure that all of the firm's reporting needs are met
- Manage, support, train and develop the reporting team
- Design and deliver best practice financial training to fee earners and partners
- Build relationships with key stakeholders across the business
- Work closely with the Financial Systems team, IT department and other support departments to design and deliver solutions, automating where possible
Experience needed:
- An experienced finance manager
- A qualified accountant (ACA, ACCA, CIMA) with 5 years PQE gained within the legal sector
- A good understanding of the Solicitors' Accounts Rules
- Good knowledge of VAT and partnership tax
- Strong leadership and communication skills
- Experience of managing and developing a team
- Advanced MS Excel skills
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