Senior Manager, Working Capital

Senior Manager, Working Capital New York NY

Job ID: 19909

DEPARTMENT PURPOSE
Achieving 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 PURPOSE
Pro-actively champion best practice in working capital management and identify, lead, and implement projects that optimize processes and enhance profitability across the role’s core areas of responsibility:
• Lead, inspire and develop a team who manage the entire US working capital life cycle from time-recording to cash collection, and ensure a commercially sound service.
• Ensure US Partners and department heads are receiving a seamless service across all aspects of the working capital life cycle.• Improve profitability through minimizing write-offs (arising at the point of bill, through non-compliance with client billing guidelines, or from bad debts) in order to maximize matter recovery.
• Manage U.S. net investment days to target.
The focus of the role is on the US business, although the team is also responsible for monitoring and managing a small number of global clients.

KEY RELATIONSHIPS
 US CFO
 US Head of Pricing and Commercial Manager
 US Pricing and Commercial Senior Manager
 US Financial Controller
 Working Capital Controllers (WCCs) and Working Capital Managers globally
 US Partner Practice group heads or department heads
 Relationship Partners, Billing Partners, Matter Managers and fee-earners globally
 Shared Service Centre (SSC) teams in Belfast

JOB DESCRIPTION
ROLE AND RESPONSIBILITIES
WORKING CAPITAL MANAGEMENT
 Oversee and monitor the effectiveness of client billing and collection processes and identify and initiate improvements to enhance the quality of service and reduce net investment days and ensuring best practices are followed.
 Manage the region’s client revenue and net investment balances (WIP and Debts), meet with partners as necessary, report regularly on positions, and action escalations on increasing client exposures.
 Review billing write-off narratives before submission to the write off committee and ensure any material amounts are investigated and escalated.
 Ensure appropriate matter set-ups are in place. For example, ensuring correct rates are applied to matters, that budgets are in place and that any reporting needs (internal or external) are captured.
 Meet with new partners and oversee their onboarding and related systems training. Oversee the cessation of business for partner leavers including commercial agreements with new firms.
 Responsible for annual WIP valuation exercise for the financial audit

PRICING, MATTER PROFITABILITY AND PROJECT MANAGEMENT
 Analyze current billing and profitability information and other items of a complex nature for reporting and problem-solving including calculating PPP analysis of individual matters.
 Prepare complex budgets for matter partner’s review prior to accepting new engagements.
 Project manage a selection of matters to monitor effective utilization of staff, and control margins through the assessment of time and cost write-offs, and support proactive measures to increase margins where possible.
 Delivery, design and preparation of financial presentations and ad hoc client reviews
 Schedule practice group meetings to review matter and client performance.
 Deliver ongoing training to associates and counsel on best practices on matter management.

RELATIONSHIP MANAGEMENT
 Act as business partner and trusted advisor to US partners and other senior decision makers.
 Report on progress and escalate areas of concern to Head of Pricing and Commercial Management, CFO and Practice group/Department heads.
 Establish good working relationships with external clients to facilitate the resolution of issues that may arise.
 Pre-empt client queries by applying knowledge from prior engagements to identify and mitigate potential risks.
 Manage offshore SSC relationship with Revenue, Credit Control and eBilling departments to ensure the US, its partners and clients receive a high-quality service.
 Develop good relationships with partners, counsel and associates and support Finance practice managers with difficult or complex partner requests.

MANAGEMENT AND DEVELOPMENT
 Provide leadership, seek opportunities for growth and create a strong, collaborative, and successful team across all offices.
 Set annual objectives for the team managers and ensure quarterly performance reviews are held, taking into account each individual’s aspirations, A&O finance strategy, and future development of the finance function.
 Ensure team workload is appropriately balanced and partners are receiving appropriate support.
 Assist the team to improve their technical abilities and soft skills to continually increase value to the business.

KEY REQUIREMENTS
 At least 10 years’ experience in a management and/or operational role in a leading company / firm with profit center responsibility. Experience of a partnership environment and working in a matrix organization is advantageous.
 A very credible individual with gravitas, resilience and high level of intellectual ability who is able to develop effective working relationships with the ability to influence at all levels.
 Pro-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.
 Strong team management and development skills as well as supervision of remote teammates.
 Have an understanding of working cross-culturally
 Excellent analytical and numeracy skills are a prerequisite for the role, plus the individual will need to adopt a big-picture approach and appreciate the commercial realities of a dynamic, fast-moving practice.
 Advanced level experience in Microsoft Office (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.
 CPA qualification is desirable but not essential.
 Experience with 3E is an advantage but not essential.
 Occasional travel required domestically and internationally.

Tagged as: Senior Manager, Working Capital