Job Title
Working Capital Controller – Finance
Company
Allen & Overy
Job Description
Job description
Allen & Overy is a leading global law firm operating in over 30 countries all over the world. We’re built on the work of talented and motivated people, in a supportive and collaborative environment, dedicated to delivering an exceptional standard of work for our clients. We operate at the forefront of the legal industry, and our deals and cases often make headline business news. With many of our partners and senior leadership acknowledged as leaders in their field, and with all our people demonstrating the highest levels of professionalism, we have a reputation for delivering excellence in all that we do.
We’re thoughtful and inventive, and we’ve developed a culture in which difference and openness is positively valued, where people are free to be themselves. We’re one global team, supportive and collaborative but also ambitious and driven. Our capacity to combine these qualities and provide a setting in which our people can thrive is what makes us different.
Role purpose
The role of the US Working Capital Controller (WCC) is to help US partners to manage their practices by providing matter management and pricing support. Many US clients require the monthly reporting of current, life to date and estimates to complete on all of their matters. This requires active engagement with partners and matter managers across the life of the transactions. As a result, the WCC’s also play an active role ensuring the deal teams are current on their timesheets, setting and monitoring matter task and phased budgeting, client reporting, coordinating with the Advanced Delivery teams and general pricing support. All of this is necessary to ensure that the US Partners receive quality financial support to continue to maximize matter profitability and reduce lock up days. The WCC’s are supported by the Shared Service Teams based in Belfast with respect to billing, ebilling, cash allocations and credit control functions.
Department purpose and structure
The department’s function is to create maximum efficiency in working capital billing and recovery, which includes the process of turning work in progress (WIP) into invoices, and turning invoices into cash collections. The team is responsible for monitoring the WIP, overseeing the billing for all US practice areas, ensuring that all matters have the correct rate agreements in place, and performing analysis on performance and profitability at the engagement level. The team is also responsible for general working capital related housekeeping and the production of related reporting for both internal and external clients. The team are supported by the Shared Service Centre based in Belfast, who provide assistance with respect to billing, ebilling, cash allocations and credit control functions.
Key relationships
Sr. Manager, Working Capital and US CFO
Working capital and Pricing Managers
Partners and Matter Managers
Shared Service Teams in Belfast
Context
The Finance team has a seat at the leadership table and its input into strategic conversations is always encouraged.
There are processes that need to be completed monthly and annually, in relation to working capital management, relationship management, and ad hoc duties such as, but not limited to, Fee Earner Busyness Reporting and other HR related efforts, client specific reporting, missing timesheet review and follow-up, and other housekeeping.
Role and responsibilities
- Meet with partners monthly, or as needed, to review current matters, obtain billing forecast information and follow up to ensure that all pledged billing is actioned in a timely manner each month.
- Oversee and follow up on the processing of action items, such as time transfer, time write off, dispatch of billing guides, disbursements, etc., handled mainly by our Revenue Assistants in our Belfast Shared Services Center.
- Oversight and review (occasional preparation/processing) of invoices, ensuring time and disbursements are accurately charged in accordance with client billing guidelines
- Uphold department standards and preserve integrity of established revenue accounting controls
- Provide succinct financial advice and reporting on revenue, profitability and collections for client and departmental review
- Draft matter budgets for all significant instructions in conjunction and ensure automatic alerts are activated to ensure progress is reported on an ongoing basis
- Review and management of Working Capital Lock Up Days – monitor for trigger points where write offs occur to ensure early attention and counteraction
- Review inventory for working capital hygiene purposes, to clear inventory that is no longer recoverable in a timely manner.
- Flag inventory and accounts receivable issues that may impact the Lock Up profile and ensure the partner and management are well informed of increasing exposures
Team
This individual will report directly to the Sr. Manager, Working Capital and will work closely with partners, matter managers, and other support staff teams, not limited to the Finance team, but also Human Resources, Marketing/ BD and others.
Key requirements
- Pro-active self-starter with drive, enthusiasm and tenacity, possessing excellent communication skills both written and verbal. Will need to be visible with the confidence to advise, encourage, and sometimes challenge partners
- Excellent analytical and numeracy skills are a prerequisite for the role, plus the individual will need to adopt a ‘broad brush,’ big-picture approach and appreciate the commercial realities of a dynamic, fast moving practice
- Intermediate level experience or above in Microsoft Office, including Excel, Word, Outlook and PowerPoint
- Excellent attention to detail, prioritization and organizational skills
- Ability to work under pressure and cope with high demand and varied workloads
- A recognized accountancy qualification is advantageous but not essential
- Experience with 3E is an advantage but not essential
The annualized base salary range for this position is $100,000 to $125,000. The actual base salary offered will depend on the overall qualifications of the individual applicant for the position and other job-related factors permitted by law.
Area of expertise
Finance
Office
USA – New York
Working arrangement
Hybrid (combination of office & remote working)
Expected Salary
$100000 – 125000 per year
Location
New York City, NY
Job Posting Date
Thu, 07 Dec 2023 06:44:14 GMT