Job Information

We are working with an established law firm and they are looking for an experienced Head of Finance / Finance Director to join the business. .

For this role it is essential that candidates have proven experience working within a law firm / legal sector and have worked in a No1 role.

Reporting into the partners the position will have full responsibility for the management of the finance function, including high level financial analysis, strategic and commercial support and assisting with the general management of the firm. Key duties and responsibilities will include;

• Attend Partner's Meetings when requested to present and detail notable aspects of the Practice’s financial performance.
• Provide strategic input to the Managing Partner on perceived industry trends and movements; benchmark the Practice against data from similar practices and provide analysis.
• Keep in touch with accounting, banking and taxation issues relevant to law firms through membership of the ICAEW Solicitors Group and regular attendance at topical seminars
• Provide detailed annual and higher level short to medium term financial forecasts to assist in forward planning.
• Prepare and analyse the Practice’s annual budget based on previous actual and forecasted position; work with the Managing Partner to agree the budget before presenting it to the partners.
• Responsible for the management, leadership and development for the Accounts team - Conduct regular staff appraisals, setting key objectives and identifying staff training and development needs.
• Provide monthly management accounts, cash flow forecasts and analyses of trends therein highlighting to the Managing Partner where efficiencies, cost savings, & other opportunities might be achieved. Compare actual results to budgets and report on variances.
• Provide detailed management of the Practice’s cash resources including overseeing management of work in progress and debtor lock up
• Analyse and review with fee earners, in collaboration with their HoD and individual fee earner financial statistics
• Management of KPI’s including chargeable hours, the value of chargeable time, recovery rates, WIP and debtor days.
• Responsible for the production of the year end draft Profit & Loss account and Balance Sheet for review by the firm’s accountants.
• Oversee the practice’s credit control system and liaise with credit control, fee earners and clients, where necessary to maintain ultimate efficiency. Monitor the level of doubtful debts, highlighting to the Managing Partner any changes required to the provision. Provide reports on progress and achievement at partners’ meetings where necessary.
• Establishing effective financial controls and authority levels including rotating the duties of accounting staff, regularly reviewing their work and scrutinising the accounting records such as the trial balance and lists of client balances
• Responsible for liaison with the firm’s Accountants during the SAR accounts audit and its reporting stage and with the Managing Partner be involved in the production of the firm’s annual accounts
• Responsible for the Account's function maintaining absolute compliance with the Solicitors’ Accounts Rules

Candidates must hold current knowledge of the Solicitors’ Accounts Rules and ideally be fully qualified ACA / ACCA / CIMA. You will need to be ILCA Qualified and educated to degree level.