Allen & Overy
Working Capital Controller
Allen & Overy is a leading global law firm operating in over thirty countries. We work on some of the most challenging and important deals and have built a reputation for delivering exceptional legal solutions that help our clients grow, innovate and thrive. Our business teams work hand-in-hand with our lawyers, Consultants and other specialist teams, and are ambitious, driven and leaders in their field.We're on an exciting journey to create an even stronger offering for our clients and our people: In May 2023, we announced our proposed merger with Shearman and Sterling, with the intention of becoming a new global leader named Allen Overy Shearman Sterling, A&O Shearman for short.With a shared commitment to attracting and retaining the best people and an equal focus on creating a diverse, equitable and inclusive workplace, we're confident that this merger will further our efforts to leave a better firm for future generations as well as providing our people with exceptional career opportunities along the way.Once complete, the merger will combine two of the world's most prestigious law firms, leaders in their respective markets, to create an integrated global elite firm. You can read more about this on our dedicated microsite https://www.announcingaoss.com.We offer rewarding careers that are built around your strengths and designed to ensure you can achieve your personal and professional goals, recognizing that those may look different for everyone. We have a powerful commitment to diversity, equity and inclusion. We're determined to play our part in advancing a workplace where progress is made by harnessing our differences - whatever defines you, we ask you to bring your whole self to work. What truly defines a career at Allen & Overy? We provide challenge, support and a place for you to belong. And together we excel, working on meaningful projects of global significance.Department purposeAchieving 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 producing information that is relevant, accurate and understandable and doing so as quickly as possible. 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 purposeThe primary role of the US Working Capital Controller (WCC) is to help US 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. As a result, the WCC's also play an active 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 Working Capital Controller 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 also be expected to deputize for the Finance Practice Manager from time-to-time, and while the role does not include any direct line-management responsibilities, you will have dotted line relationships with other Working Capital Controllers on the team. This may include supervision and delegation of tasks where appropriate.Key relationshipsUS Head of Pricing and Commercial Management and US CFOWorking capital and Pricing ManagersWorking Capital ControllersPartners and Matter ManagersShared Service Teams in BelfastJob descriptionRole and responsibilitiesSupporting the billing processMeet with partners monthly, or as needed, 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 and follow up on the processing of action items, such as time transfer, time write off, dispatch of billing guides, disbursements, etc., handled mainly by our Revenue Assistants in our Belfast Shared Services Center.Oversight and review (occasional preparation/processing) of invoices, ensuring time and disbursements are accurately charged in accordance with client billing guidelines.Uphold department standards and preserve integrity of established revenue accounting controls.Thorough final review of invoices before sending to partners for distribution to their clients.Provide training and technical financial system support to Legal PA's and Fee Earners where necessary.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, to clear inventory that is no longer recoverable in a timely manner. Flag inventory and accounts receivable issues that may impact the Lock Up profile and ensure the partner and management are well informed of increasing exposuresWorking Capital ManagementAssist the Finance Practice Manager as required, in maintaining a holistic understanding of the working capital position of your particular 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 (WIP and Debts), 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 with concise narratives.Provide support to the cash allocations team to assist with the allocation of client related payments.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 and investigate any significant movements.Diligent file maintenance for all associated billing, collections, and client money related backup materials. Relationship ManagementAct as trusted business advisor to assigned partners and other fee earners, working closely with their assistants and other support functions.Provide supporting materials and information for client meetings - determine nature of meeting and provide succinct financial advice in relation to time submission, billings, profitability and collections.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 (Revenue, eBilling, and Credit Control).Ad-Hoc duties required from time to time may include the following:Involvement in ad hoc projects.Responding to requests for ad hoc 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.General administrative housekeeping requests.TeamThis 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 Human Resources, Marketing/ BD and others.Key requirementsPro-active self-starter with drive, enthusiasm and tenacity, possessing excellent communication skills both written and verbal. Will need to be visible with the confidence to advise, encourage, and sometimes challenge partners.Excellent analytical and numeracy skills are a prerequisite for the role, plus the individual will need to adopt a 'broad brush,' big-picture approach and appreciate the commercial realities of a dynamic, fast moving practice.Intermediate level experience or above in Microsoft Office, including Excel, Word, Outlook and PowerPoint.Excellent attention to detail, prioritization and organizational skills.Ability to work under pressure and cope with high demand and varied workloads.A recognized accountancy qualification is advantageous but not essential.Experience with 3E is an advantage but not essential.Previous supervisory experience desirable, but not essential.
New York, NY