Working Capital Controller

A&O Shearman is a new global industry-leading law firm, with 48 offices in 28 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  an inclusive environment, 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

To provide high quality financial information and support to the decision-makers of A&O Shearman ensuring compliance with regulations while delivering services efficiently. The function is subdivided into financial reporting, focussed on meeting statutory and regulatory requirements, and working capital, which concentrates on billing and debt management, along with pricing and matter analytics.

Role purpose

The purpose of the role is to:
– Act as the front-line finance business support for a group of the MET partners, with focus on developing business partner and trusted advisor status.
– Actively engage with the partners and matter mangers to ensure that bills accurate, timely, in compliance with client agreed terms, Solicitors Accounts Rules and VAT regulations.
– Managing and controlling all aspects of the working capital cycle.
– Managing the credit control cycle, working with the business to ensure all debts are collected from clients as per standard payment terms.
– Enhancing profitability by building out matter management and profitability tracking,
– Developing pricing expertise to support the business on pre matter and post matter analysis.
– Working with the MET Working Capital Manager to manage working capital metrics, with emphasis on minimising net investment, WIP and Debtor Balances.

Key relationships

– Partners
– Fee Earners
– MET Working Capital Manager/ Team Lead
– ME Commercial and Finance Senior Manager
– MET COO/ CFO
– Working Capital Controllers
– MET Financial Reporting Team
– Support Functions, particularly Business Development
– MET Project Management Team (Advanced Delivery)
– Global Finance Team including Belfast SSC

Role and responsibilities

Client Financial Lifecycle Duties:
– Involvement in the Client and Matter Inception workflow process, ensuring all steps are followed to conclusion
– Managing rates within 3e and working with partners to ensure the matters are set up correctly and the client finance related requirements are fully understood as per the engagement letter
– Understanding of local and global client rate agreements, working with peers in other offices on global /regional client rate negotiations
– Regular meetings with partners to review the working capital on their matters
– Management of the Billing process to comply with firm policies.
– Management of credit control activities, working in tandem with business to achieve timely settlement of debts.
– Comprehensive follow-up of action items, such as time transfer, time write off, dispatch of billing guides, disbursements, queries etc.
– Monitoring matter budgets and ensuring fee updates are sent to clients in a timely manner
– Preparation of billing forecast ensuring data is up to date to give an accurate estimate of billings
– Providing detailed financial information in support of bills, i.e. hourly schedules, disbursements and narrative breakdowns. Preparation of client detailed billing schedules/reports as requested
– Dealing with enquiries from clients, partners and fee earners relating to financial aspects of matters.
– Provide training to Legal PAs for bill & time narrative completion in 3e and on-going support
– Liaise with Revenue Controllers across the network on cross unit billing matters
– Monitor and implement appropriate internal controls
– Responsible for resolving E-billing rejections received from clients
– Responsible for uploading invoices to e-invoicing portals and maintenance of portals when required
– Deal with tax issues relating to working capital which may be cross border in nature
– Management of bad debt write offs and provisions to minimise impact on the bottom line

Relationship management

– Build relationship with partners & other fee earners, ensuring they receive all relevant working capital and pricing information.
– Work closely with local financial reporting team to manage client money, WIP, bad debt provisions & disbursements.
– Develop relationship with hub finance teams, including FSG, to ensure MET is compliant with global policies.
– Establish and maintain good working relationships with external clients to facilitate the resolution of any issues that may arise.
– Pre-empt client queries by applying knowledge from prior engagement
– identify potential risks and mitigate. – Manage offshore SSC relationship with Revenue, Credit Control and e-billing departments. Advisory Role:
– Participate in pricing discussions and provide profitability modelling to partners – Assist in the generation and analytical review of business trends, profitability analysis and other key working capital performance indicators.
– Communicate effectively with Partners and provide useful management information to improve working capital and drive the business forward.
– Work with other functions (i.e. Business Development/Marketing/HR) in respect of client reporting, monitoring, strategy, and developments.
– Analyze current billing and profitability information reporting and problem-solving including calculating PPP analysis of individual matters.
– Delivery, design, and preparation of financial presentations, and ad hoc client reviews.
– Support projects impacting working capital process flow as and when required.

Key requirements

– The ideal candidate will have strong commercial skills and preferably be a qualified finance professional looking for a commercial role.
– Worked within the legal profession as a Revenue/Billing. If not, then experience in the professional services industry preferred – minimum of 3 years
– Ability to operate under pressure and to multi-task and prioritise
– Excellent communicator, able to work with stakeholders and share advice
– Experience building and maintaining strong internal/external client relationships
– Strong team-player who is also self-motivated
– Good organisational skills and able to deal with urgent requests
– Enthusiastic, pro-active, persistent & robust person with a commitment to ‘getting the job done’
– Aptitude for systems generally, willingness to follow process and learn new systems
– Excellent office skills required, a knowledge of Elite 3e is an advantage