Finance Manager (Legal Background)

Owen Reed are recruiting for a Finance Manager to work for a law firm in London.  The Finance Manager must have legal experience and be Immediately available.

The principle tasks of the Finance Manager will be to take on the management of the day to day transaction processing, ensuring that all accounts tasks are performed daily, accurately and to the firms timetable.

Duties of the Finance Manager: 

  • Effectively Manage the Accounts team of 4 made up of Accounts Assistants, two of which are more senior – ensuring that all day to day functions are carried out promptly, delegate and assign tasks, follow up to ensure all instructions have been followed correctly and that all fee earner requests are responded to.
  • Meet everyday with the Owner to take his instructions as to his requirements – advise on finance developments and status, raise any concerns relating to Accounts function.
  • Cash flow management – maintain a cash flow forecast showing the firm’s financial position on a monthly basis, ensuring that transactions are processed daily and the cash flow reflects this position
  • Treasury management – liaising with the firm’s bankers, ensuring that the firm’s covenants are met and associated reports are generated. Maintaining the firms cash position in line with the facility; Daily transfer of client money.
  • Working capital management – daily monitoring and chasing of the firm billings and debts, ensuring the fee earners regularly bill for the professional fees, disbursements and other costs. Working with fee earners to chase outstanding debts and the timely transfer of funds held on account.
  • Audit and statutory accounts – liaison with the firm’s auditors and tax advisors to ensure that the audit and tax return information is completed in a timely fashion. Preparation of the accounts for audit fieldwork and production of the draft financial statements for review.
  • Management accounts – preparation of the firms monthly management information, including Income statement, Balance sheet, accruals and prepayments
  • Knowledge of SRA Accounts rules – working with the COFA to ensure that the firm is compliant with the SRA accounts rules and that any breaches / risks are reported efficiently.
  • Payroll management – liaise with the firms designated payroll bureau ensuring monthly submissions are made to deadline; Liaise with HMRC ensuring that all tax filings and report deadlines are met, specifically: PAYE, Class 1A, P11d, P35 and P60
  • Maintain, review and improve the firms core accounts procedures
  • Be able to cover the accounts team and assist in transaction

 

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