Client Money Assistant
We are currently seeking someone with good numeracy and literacy skills and knowledge and exposure to the SRA Accounts Rules 2019 to join our Finance team as a Client Money Assistant.
The Client Money team is responsible for ensuring the firms adherence to the SRA Accounts Rules 2019 as set out by the Solicitors Regulation Authority. The main duties are overseeing the movement of funds through all of the London client bank accounts ensuring that no breach of the Rules occurs. This role will be responsible for the adherence of the SRA Accounts Rules 2019 and ensuring all transactions are completed and processed through the host system (Elite 3E) and the various banking products.
Role and responsibilities
- Ensuring all receipts (EFT's / cheques) into the firms client account are promptly and accurately allocated in accordance with the SRA Accounts Rules 2019 and are recorded onto host system (Elite 3E).
- Notifying partners / associates immediately of the receipt of funds into the client account.
- Placing client money onto the appropriate deposit accounts and accounting for interest per the firms’ Interest Policy.
- Preparing payment request forms on behalf of fee earning community.
- Ensure client EFT's paid away promptly and accurately in accordance with the instructions provided through NatWest BankLine online portal adhering to internal controls.
- Raise client account cheques as required in accordance with the instructions provided and adhering to internal controls.
- Recording all client account payments, both EFT's and cheques onto the host system (Elite 3E) adhering to internal controls.
- Prepare and record inter-ledger for client to office transfers and office to client transfers adhering to internal controls.
- Liaise with Finance Cash Allocation Team relating to duplicate/overpayment of A&O invoices.
- Reporting to partners / associates on all client account balances held and to assist with the clearance of such balances.
- Prepare and provide statements of account (using an XL template) as and when required.
- Preparation of daily client account bank reconciliations on any of the client bank accounts that had transactions the previous day and to ensure any reconciling items are dealt with in a timely manner.
- Preparation of monthly client account bank reconciliations ensuring any reconciling items are dealt with in a timely manner.
- Commitment to providing and maintaining professional, responsive and effective relationships.
- Active team member who supports and engages with others and works effectively in a team.
- Shares knowledge and skills, and provides and accepts feedback.
- Excellent communicator and confident in interaction with individuals at all levels. Listens and understands issues from all perspectives and values others opinions.
- Delivers tasks in a professional and organised way with limited supervision and responsive to immediate priorities.
- Ability to work well under pressure, takes a flexible approach and multi-tasks effectively to meet targets and tight deadlines.
- Committed to the maintenance of established processes and systems.
Who we are looking for
- Good numeracy and literacy skills and a minimum of 5 GCSE’s or equivalent (including at least a grade B in English & Maths)
- Good knowledge and exposure to the SRA Accounts Rules 2019.
- Experience with Elite 3E advantageous, but not essential.
- A member of the Institute of Legal Finance & Management. Diploma qualification would be beneficial.
Allen & Overy LLP is committed to being an inclusive employer and we are happy to consider flexible working arrangements.
Additional information - External
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.