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We are currently working with a long established mid sized law firm in East London who are seeking a FO/CFO to join their management team.
The FO is responsible for managing and controlling the financial functions of the Firm in conjunction with the Accounts Team and Equity Partners with particular emphasis on practice support functions including financial planning and control, record keeping , clients account monitoring and control systems
The role of FO is expected to relieve the senior management team of some duties and workload of the Managing Partner to enable them to concentrate on revenue generation and supporting and motivating key fee earners in financial performance and analysis and offer training to them as required.
The FO will also assist in securing and enhancing key supplier relationships and will interact with key clients as required. The FO will manage the Accounts Team. Primary areas of responsibility:
A. Strategy and Change
1 Drive the necessary change as the Firm strives to achieve changes in its structure and increase profitability and financial performance management.
2 Assist the MP with the implementation of the broad range of growth and development initiatives of the firm with emphasise on the financial interactions.
B. Finance Function / Operations
1 Drive and monitor the monthly financial performance of the Firm and create dashboards for use in performance management.
2 Primary responsibility for the finance function including financial analysis, performance reporting, internal controls, budgeting and forecasting.
3 Contribute to decisions on information technology for finance matters.
4 Support the MP in managing the Banking and key finance related and supplier relationships.
Managing the accounting functions of the Firm with a small team. Preparation of the Management Packs monthly to an agreed timetable, including key performance analysis. Profit and Loss. Variance reports on actual v forecast. Cashflow statements and day to day cashflow management. Month end journals. Overhead reports. Responsible for the payroll with outsourced payroll bureau. Fee Earner reports. Bank account reconciliations. Deal with quarterly VAT returns. Prepare and review budgets and forecasts. Dealing with Aged Debt. Managing the Purchase Ledger. Managing the Employer’s company Credit Cards. Processing Expense claims. Finance Department Line Manager. Day to day responsibility for Accounts staff including training and Appraisals. Assistant COFA.
Comprehensive knowledge of the Solicitors Accounts Rules and ensuring that the Employer is compliant. Responsible for providing new staff members, introduce posting time, KPI reports with all new Trainee’s and Fee-Earners.
Responsible for the Annual SAR report and liaising with the Firms Auditors. Liaising with the Partners & Fee-Earners dealing with their WIP, unbilled disbursements, unpaid bills, ACL reports and any other related matters. Maintaining and reporting on all finance related breaches registers. Dealing with drawings and consultancy allocations, payments and reconciliations. Information Technology To be the system supervisor for the finance related aspects of the Firm and assist where necessary the IT Consultant and PD where relevant. General ï‚· To act as "line manager" for staff who report to you, i.e. to supervise the effective performance of their work, to develop them through the annual appraisal procedure and through daily guidance (liaising with anyone else to whom they report), and to ensure that they put into practice the training they receive.
To attend regular meetings with the MP, SP, PD and HR Manager as appropriate and assist the MP on the finance inputs for Management Meetings. ï‚· To attend Partners/Management Meetings. ï‚· To liaise with other Partners and, where appropriate, fee-earners and deal with their ad-hoc finance and financial performance related requirements, as necessary. ï‚·
SKILLS REQUIRED: The FO will require inter alia the following skills: Excellence in:  Finance: ability to oversee and deal with all aspects of partnership, LLP and company accounting and to prepare Accounts to draft P&L stage and Balance Sheet for the Firm’s auditors/accountants and Solicitors Accounts Rules requirements.  Administration: people skills internally and externally; building long-term internal and external relationships; maintaining and enhancing morale; trouble shooting; following up matters.  Costs control, internal audit and controls: understanding both accounting and non-accounting data, use of spread sheets and reporting dashboards at advanced level, ability to quickly analyse large amounts of data and identify relevant matters, ability to identify and concentrate on matters which will make a difference.  Risk control and management and identification of risks: credit control and management, strategic planning of business, assist in competitor analysis, research and development for current law firm strategy, hands-on involvement, to concentrate on things which matter, deal with and put to bed things which do not matter, not allowing matters to fester.  Business manager/mentor to fee earners: to enable the fee earners to concentrate on delivery of "technicalexcellence" assisting on their financial understating of matter management.  When and if required, flexibility to work out of normal office hours, weekends, and away from home, including travel within the UK and internationally, if necessary. 
Previous legal experience in essential.
For full details please contact Natalie Mayger at The Recruiter Specialists. All applications will be dealt with in the strictest confidence.
