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Head of Working Capital

Employer
Allen & Overy LLP
Location
London (Central), London (Greater)
Salary
Competitive
Closing date
17 Sep 2019

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Vacancy Type
Finance
Contract Type
Permanent
Experience Level
Head of Department
Role Classification
Other Professional

Job Details

Job description

We are currently recruiting for a Head of Working Capital to join our Finance team in London.

The role of the Head of Working Capital is a senior position in the Finance Department and has three distinct elements: 

  • Manage a team of c.18 Working Capital Controllers / Managers who focus on the entire working capital life cycle. This also includes agreeing, devolving and meeting a reduction in lock up days.
  • Develop a deep relationship with senior finance contacts at our top clients, to ensure speedier processing of bills and collection of money.
  • Develop a strong relationship internally with the following:
  • Partners / fee earners
  • Business Managers / Chief Operating Officers / CFO - UK / Financial Controller – UK
  • Client relationship / panel managers
  • Working Capital Controllers
  • Shared Service Centre (SSC) teams in Belfast
  • Global Finance Team (including Pricing, Financial Systems Group and Taxation)

Role and responsibilities

Strategy and Finance Leadership

  • Be an active member of the London Senior Finance Management team; participate in setting the strategy for the function, operational decision making and influencing discussions.
  • Work closely with the Head of Finance in Belfast and monitor service from the Shared Service Centre in relation to billing / e-billing and credit control to ensure that the London office, its partners and clients receive a high quality service. 
  • Ensure the London team is meeting and participating in Group objectives, initiatives, upholding best practice and acting as leader in their areas. Look for opportunities to improve and instil the Firm’s values in the team.
  • Respond quickly and efficiently to ad-hoc work requests. This will often involve new areas of analysis which will require planning and development.

Working capital management

  • Identify and jointly develop solutions for service enhancements to reduce lock up days. 
  • Provide strong leadership, have full responsibility for the development and performance of the Working Capital team in London (c.15 Working Capital Controllers and 3 Working Capital Managers). Be targeted for a reduction in lock up days for London and ensure these are devolved and met by the 3 Working Capital teams.
  • Supervise the development of the monthly billing forecast prepared by Working Capital Managers.
  • Oversee and monitor the effectiveness of client billing, un-ticked bills, collection and volume discount processes and initiate improvements to enhance the quality of service.
  • Review billing write offs and ensure any material amounts are brought to the attention of the UK CFO.
  • Review unbilled disbursements account balances and disbursements written off on a monthly basis and investigate any significant movements.
  • Review monthly bad debt provision and agree next steps in advance of ledger close to ensure it is appropriate.

Client focus & relationship management

  • Play a leading role in the Client Financial Management group which focuses on our top 30 debtor clients. Develop and maintain relationships with senior finance contacts at these key clients to ensure prompt and efficient processing of A&O’s bills and collection of cash.
  • Develop close relationships with client relationship teams across the network.

Competencies for success

  • Significant experience in a management role in a leading company/firm with a large focus of this time in working capital experience. 
  • Commercial outlook essential - experience of a partnership environment would be very advantageous.
  • Must be a 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 encourage and challenge partners.
  • Demonstrate strong leadership and people management skills and experienced in recruitment.
  • Excellent analytical and numeracy skills are a prerequisite for the role.
  • Proficiency in using technology required, experience of Elite 3E a distinct advantage but not essential.
  • Excellent attention to detail, prioritisation and organisational skills with ability to work under pressure and cope with the high and varied workloads.
  • Results driven; having a proactive, goal orientated approach to decision making.
  • Able to influence at the highest level as a credible, fast-thinking, collaborative and proactive individual.
  • Outstanding interpersonal and management skills including, coaching, development and mentoring.
  • Demonstrate a hands-on approach and success in working in a team based environment.
  • Occasional travel to Belfast.

Qualifications 

  • Educated to degree level.
  • Preferably a qualified Accountant with significant post qualification experience.

Additional information - External

It’s Time
Allen & Overy is a leading global law firm operating in over thirty countries. By turning our insight, technology and talent into ground-breaking solutions, we’ve earned a place at the forefront of our industry. Our lawyers are leaders in their field – and the same goes for our support teams. Ambitious, driven and open to fresh perspectives, we find innovative new ways to deliver our services and maintain our reputation for excellence, in all that we do.

The nature of law is changing and with that change brings unique opportunities. With our collaborative working culture, flexibility, and a commitment to your progress, we build rewarding careers. By joining our global team, you are supported by colleagues from around the world. If you’re ready for a new challenge, it’s time to seize the opportunity.

Company

With over 5,600 people in over 40 offices, Allen & Overy is a business doing work of global significance.

Our success is built on the work of talented and motivated people who thrive in a supportive and collaborative environment, dedicated to delivering an exceptional standard of work for our clients. We’re ambitious and forward-thinking, committed to growing our business and meeting the future head-on. We’re not afraid of change, and we believe in challenging the status quo.

What we do goes beyond delivering an outstanding service. We lead the market by creating new solutions for our clients’ most complex legal and business challenges, helping them grow, innovate and thrive. By thinking creatively and entrepreneurially, we challenge expectations, push boundaries and build for the future. We draw on a world-leading network of expertise and a unique platform – such as our Advanced Delivery services and our network of Peerpoint consultants, to set the highest standards for our industry.

Global coverage in today’s market does not simply mean having offices in important cities around the world. For us, it means combining our global resources and sector expertise to work on matters that cross international boundaries with our culturally and geographically diverse teams. For you, it means that wherever you work, you’ll find a culture of inclusion and support – feeling confident to bring your whole self to work every single day. We have developed a culture in which difference is positively valued, and our people are free to be themselves.  At A&O, you're not only valued for what you do, but for who you are. 

We are in every sense one global team; supportive and collaborative, but also ambitious and driven.  Our capacity to combine these qualities and provide a setting in which our people can thrive is what makes us different.

Company info
Website
Telephone
+44 (0) 20 3088 0000
Location
One Bishops Square
London
E1 6AD
GB

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