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Working Capital Controller
New York, NY
Job Description
A&O Shearman is a new global industry-leading law firm, with 48 offices in 29 countries worldwide. Our fluency in English law, US law, and the laws of the world's most dynamic markets, enables us to provide unmatched insight and seamless delivery to clients. We work on challenging and important deals and disputes that have the potential to shape the future.
We offer exceptional opportunities for our people; opportunities to work for the world's leading businesses; to transform the status quo, and to deliver your best work, helping you and your career to thrive, while delivering unparalleled outcomes for our clients.
Whether you're helping clients solve complex challenges, transforming the ways we manage our business, or ensuring the smooth-running of our operations, this is an environment where you can belong and excel. We provide first-rate training and development, we are committed to diversity, equity and inclusion and we provide support and ways of working that help you optimise your wellbeing.
What truly defines a career with us? We recruit the best and ask for the best of you. And together, we will redefine success.
Department purpose
Achieving the firm's vision requires a world class Finance department and our teams add value when the information we produce enables great decisions. That means quickly producing information that is relevant, accurate and understandable. It also means building relationships with the Partners and other decision-makers in the firm so that they trust us to advise them on what the information means and what the best course of action is.
Role purpose
The primary role of the US Working Capital Controller (WCC) is to help 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. The WCC's also play a 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. The WCC is also the primary liaison for US Partners and other fee earners to ensure that bills are being rendered to our clients on time and accurately, and in compliance with all agreed terms, Solicitors Accounts Rules and Tax regulations.
As a Working Capital Controller, you will be expected to handle a portfolio of partners that may include those with more complex practice areas that require more experienced support. You will be expected to deputize for the Finance Practice Manager, and while the role does not include any direct line-management responsibilities, you will have dotted line relationships with other WCC's on the team. This may include supervision and delegation of tasks where appropriate.
Key relationships
US Head of Pricing and Commercial Management and US CFO
Working capital and Pricing Managers
Working Capital Controllers
Partners and Matter Managers
Shared Service Teams
Job description
Role and responsibilities
This individual will report directly to one of the Finance Practice Managers and will work closely with partners, matter managers, and other support staff teams, not limited to the Finance team, but also HR, and Marketing/ BD.
Key requirements
We offer exceptional opportunities for our people; opportunities to work for the world's leading businesses; to transform the status quo, and to deliver your best work, helping you and your career to thrive, while delivering unparalleled outcomes for our clients.
Whether you're helping clients solve complex challenges, transforming the ways we manage our business, or ensuring the smooth-running of our operations, this is an environment where you can belong and excel. We provide first-rate training and development, we are committed to diversity, equity and inclusion and we provide support and ways of working that help you optimise your wellbeing.
What truly defines a career with us? We recruit the best and ask for the best of you. And together, we will redefine success.
Department purpose
Achieving the firm's vision requires a world class Finance department and our teams add value when the information we produce enables great decisions. That means quickly producing information that is relevant, accurate and understandable. It also means building relationships with the Partners and other decision-makers in the firm so that they trust us to advise them on what the information means and what the best course of action is.
Role purpose
The primary role of the US Working Capital Controller (WCC) is to help 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. The WCC's also play a 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. The WCC is also the primary liaison for US Partners and other fee earners to ensure that bills are being rendered to our clients on time and accurately, and in compliance with all agreed terms, Solicitors Accounts Rules and Tax regulations.
As a Working Capital Controller, you will be expected to handle a portfolio of partners that may include those with more complex practice areas that require more experienced support. You will be expected to deputize for the Finance Practice Manager, and while the role does not include any direct line-management responsibilities, you will have dotted line relationships with other WCC's on the team. This may include supervision and delegation of tasks where appropriate.
Key relationships
US Head of Pricing and Commercial Management and US CFO
Working capital and Pricing Managers
Working Capital Controllers
Partners and Matter Managers
Shared Service Teams
Job description
Role and responsibilities
- Supporting the billing process
- Meet with partners 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 the processing of action items, such as time transfer, time write off, dispatch of billing guides, disbursements, etc., handled mainly by our Revenue Assistants.
- Uphold department standards and preserve integrity of established revenue accounting controls.
- Thorough final review of invoices before sending to partners.
- Provide training and technical financial system support.
- 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.
- Flag inventory and accounts receivable issues that may impact the Lock Up profile.
- Assist the Finance Practice Manager as required, in maintaining a holistic understanding of the working capital position of your practice area.
- Assist with matter inception process, review engagement letters and agreements to ensure that agreed billing rates are accurate for new instructions.
- Review client/matter working capital balances, take ownership of reporting on and escalating matters that are aging or where we have increasing client exposure.
- Send regular working capital related reporting to partners.
- Provide support to the cash allocations team.
- Oversee client money balances and ensure that funds are being applied/refunded in a timely manner.
- Review billing write offs and ensure any material amounts are escalated, prepare write-off narratives for write-off committee approval.
- Review unbilled disbursements balances and disbursements written off on a monthly basis.
- Diligent file maintenance for all associated billing, collections, and client money related backup materials.
- Act as trusted business advisor to assigned partners and other fee earners.
- Provide supporting materials for client meetings.
- Draft matter budgets for all significant instructions in conjunction with the matter manager and ensure automatic alerts are activated to ensure progress is reported on an ongoing basis.
- Establish solid working relationships with the offshore SSC Finance Teams.
- Ad-Hoc duties required from time to time
- Responding to requests for reporting in support of Marketing/BD related efforts.
- Fee Earner Busyness Reporting and other HR related efforts.
- Assisting other teams as and when cover is required.
- Client specific reporting.
- Missing timesheet review and follow-up.
This individual will report directly to one of the Finance Practice Managers and will work closely with partners, matter managers, and other support staff teams, not limited to the Finance team, but also HR, and Marketing/ BD.
Key requirements
- Pro-active self-starter with drive and tenacity, possessing excellent communication skills both written and verbal.
- Excellent analytical and numeracy skills are a prerequisite for the role, plus the individual will need to adopt a big-picture approach and appreciate a dynamic, fast moving practice.
- Intermediate level experience in Microsoft Office, including Excel, Word, Outlook and PowerPoint.
- Ability to work under pressure and cope with high demand and varied workloads.
- A recognized accountancy qualification, experience with 3E, and previous supervisory experience are advantageous but not essential.
Job Summary
Company
Start Date
As soon as possible
Employment Term and Type
Regular, Full Time
Required Experience
Open
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