Working Capital Controller
6 months ago
Allen & Overy is a global industry-leading law firm, with 48 offices in 29 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 diversity, equity and inclusion and we provide support and ways of working that help you optimise your wellbeing.
- **Department purpose**
To provide high quality financial information and support to the decision makers of A&O ensuring compliance with regulations while delivering services efficiently. The function is subdivided into Financial reporting, which focuses on meeting statutory and regulatory requirements, and working capital, which concentrates on billing and debt management, along with pricing and matter analytics.
- **Role purpose**
- 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.
- Managing all aspects of the billing process to ensure Work In Progress is processed, billed and sent to the client.
- 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 our matter management and profitability tracking.
- Developing pricing expertise to support the business on pre matter and post matter analysis.
- Working with MET Commercial Senior Finance manager to manage working capital metrics, with emphasis on minimising net investment, WIP and Debtor Balances.
**Key relationships**
- Partners
- Fee earners
- MET Commercial Senior Finance manager
- MET CFO
- Working Capital Controllers
- MET Financial Reporting team
- Business Teams, particularly Business Development
- Global Finance Team including Belfast Shared Service Centre
- Clients and other external stakeholders
**Role and responsibilities**
Client financial lifecycle duties
- Responsible for the Finance section of the Matter Inception work flow process, ensuring accuracy and completeness of the related details.
- Managing rates in 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.
- Creating the Rate Exception Group (REG) required based on client agreements including proper upload to 3E and related to comms to regional / global teams.
- Understanding of local and global client rate agreements, working with peers in other offices on global / regional client rate negotiations.
- Review of the finance provisions of Clients' External Counsel guidelines, contracts, RFPs and providing advice regarding non-compliance with the firm's standard terms of engagements and propose alternative wording.
- Regular meetings with Partners and Executive Assistants to review the working capital on their matters.
- Preparation of billing forecast ensuring data is up to date to give an accurate estimate of billings.
- Management of the BIlling process to comply with firm policies including processing of invoices.
- Comprehensive follow-up of action items, such as time transfer, time write off, dispatch of billing guides, disbursements, queries etc.
- Upload invoices to client supplier portals (ie. SAP Ariba) and continuous portal management including vendor registration and on-boarding.
- Management of credit control activities, working in tandem with business to achieve timely settlement of debts.
- Providing detailed financial information in support of bills, ie. hourly schedules, disbursements and narrative breakdowns. Preparation of client detailed billing schedules / reports as requested.
- Dealing with inquiries from clients, partners and fee earners relating to financial aspects of matters.
- Developing reports to comply with client requirements using the existing 3E generated outputs.
- Provide training to Legal PAs for bill and 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.
- Coordinating with Belfast e-billing team including compliance with e-billing rules and requirements.
- Deal with tax issues relating to working capital which may be cross border in nature
- Management of bad debt write off
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