Totum Partners are delighted to be working with a top 20 International legal firm with a world class reputation. You will be reporting to the Group Revenue Controller and working alongside the wider working capital management teams to assist with the efficient management of a practice group's working capital cycle, with particular focus upon turning WIP into Invoices as quickly as possible. The role involves developing a close working relationship with the Group Revenue Controller and the Revenue Manager, designated partners/lawyers/PAs and the wider working capital management teams.
The main duties and responsibilities of the role include managing aged unbilled disbursements and investigating why they have not been billed and will liaise with lawyers to ensure they are billed or written off as appropriate. You will be working with the cashiering team to identify and clear client account balances on completed matters to ensure they can be closed when appropriate. The role also involves taking responsibility for ensuring write offs / transfers / matter changes that are identified in WIP meetings by the GRC are dealt with and actioned either by doing so themselves or ensuring necessary actions are completed by the Billing Team. You will assist the GRC with proactively managing unbilled WIP on matters with a WIP balance of £15,000 and under, to help to identify matter which have not been billed, which should be billed or WIP which remains which should be written off. The Assistant Group revenue Controller will also be responsible for financial housekeeping, including reallocation of clients and matters of retiring partners at MP, EP and RP level. Ensuring that when a Matter Fee Earner leaves the Firm, their matters are re-allocated in a timely manner and in accordance with the Firm's protocols.
You will need good knowledge of the full revenue cycle and how it drives the profitability of a law firm which will ideally gained through previous experience of working for a Law Firm. You will also need experience in the preparation of complex billing and other matter related finance information. The successful candidate must have detailed working knowledge of the Solicitors Accounts Rules and VAT compliance and have proactive involvement in WIP management and an understanding of the need for good Working Capital Management.
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