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.
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
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.
- Working Capital Management
- 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.
- Relationship Management
- 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
- Travel will also be expected on an intermittent basis as business needs may require.
- This role can be based in our New York or Washington D.C. offices.
Note: Looking for a candidate who is having the industry experience in Law Practice.
