Practice Finance Assistant - 12 Month FTC
Ashurst is a leading global law firm with a history spanning almost 200 years, and clear strategy for our future growth. Our in-depth understanding of our clients and commitment to providing exceptional standards of service have seen us become a trusted adviser to local and global corporates, financial institutions and governments in all areas of commercial law. To find out more please visit here.
In order to comply with regulatory and client requirements, Ashurst will undertake appropriate vetting of staff. When applicants accept a job offer, Ashurst, alongside a specialist provider, will undertake professional verification and background checks. These checks are only undertaken with consent, and in accordance with our legal and regulatory obligations.
Business Area: Operations
Role: Practice Finance Assistant - 12 Month FTC
Reporting to: PE Team Leader
Hours of work:
Monday to Friday, 9.30am - 5.30pm. You may be required to work outside these core hours from time to time.
The key to effective practice management requires strong financial discipline to help businesses not only cover their financial obligations but also to boost revenues.
The Practice Finance Assistant (PFA) is a key position which provides a link between the Practice Executives, fee earners and the financial management team.
A key aspect of this role is establishing relationships with practice executives, fee earners and Partners.
The role of the PFA focuses on client and matter administration, working capital management, pre-billing processes and pro-active improvement of lock up.
Financial and Matter Management
- Work with Partners, lawyers, clients and the financial management team to prepare timely and accurate invoices, involving, but not limited to:
- Proactively review work in progress to support the matter billing process (including disbursements and third party invoices) with the relevant lawyer/Partner.
- Monitor and reduce aged WIP.
- Review and ensure the accuracy of client charge rates and other matter specific financial information.
- Understand client specific billing challenges, procedures and processes to enable the timely creation of invoices.
- Ensuring time entries are in accordance with client specific requirements and allocated to the correct file, transferring time between files where appropriate.
- Preparing financial reports and liaising with the billing team on preparation of draft invoices.
- Liaise closely with the billing team in Glasgow ensuring all invoices are raised as required.
- Generate and distribute billing guides to lawyers/Partners and/or Practice Executives, obtaining Partner sign off and ensuring final invoice is sent to the client.
- Collate information from the practice management system (3e) and other sources to support the preparation of internal and external client reporting.
- Work with the financial management operations teams to support debt collection activities.
- Ensure all possible steps are taken to assist the department in achieving their monthly and annual billing targets.
Risk and Compliance: Ensure that all activities and duties are carried out in full compliance with our regulatory requirements and internal policies.
Essential skills and experience:
- Previous experience working within the finance department of a law/professional services firm, e.g. central finance administration, billing or revenue control.
- Good level of technical ability in Microsoft Office, particularly Excel, Word and PowerPoint.
- Demonstrable knowledge of prior firms' practice management system (PMS).
- "Can do" approach, including proactively completing tasks that may be outside general scope of duties or requests submitted to Local Hub.
- Strong organisational skills: able to plan and prioritise effectively in order to deliver high volume work or tasks to demanding deadlines.
- Demonstrates initiative and strong client focus, with a willingness to take ownership of tasks or provide solutions to issues that arise.
- Good communication skills, both written and spoken, and able to liaise across all areas within the firm.
- Behaves in a professional manner, and is personable and approachable at all times.
- Methodical approach, with high levels of attention to detail, providing work that is quality checked and complete.
- Team player, able to work well with others to achieve departmental or task specific goals.
- Demonstrates flexibility and willing to adjust priorities or working hours when necessary.
- Keen to learn new skills and willing to complete a broad range of tasks to develop or improve skills sets.