Working Capital Manager

Employer
Allen & Overy LLP
Location
London (Central), London (Greater)
Salary
Competitive
Closing date
9 Nov 2021

View more

Vacancy Type
Finance
Role Classification
Other Professional
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Job Details

Job description

We currently have an opportunity for a Working Capital Manager to join our London office to act as business partner and trusted advisor to partners and other senior decision-makers with the principle objective of optimising revenue, matter profitability and speed of cash collection.  This role will: 

  • Manage and control the office’s client billing (including e-billing), WIP and debt
  • Support pricing decisions and rate negotiations
  • Ensure the partners are receiving responsive and commercially sound financial service   
  • Manage, train, and develop a team of working capital controllers ensuring they comply with the firm’s accounting   policies and procedures

Full role and responsibilities
Management and Development

  • Supervise, train, support, motivate and develop a team of Working Capital Controllers, including new team members and ensure that all are performing in line with the competency framework and the relevant job description. Where poor performance is identified, lead the remedial processes
  • Set annual objectives for the working capital team including WIP and debtor day targets. Ensure regular performance reviews are held, taking into account each individual’s objectives, A&O finance strategy and future development of the finance function. Ensure complete and timely adoption of Compass processes for the team
  • Lead recruitment of team members as and when required
  • Ensure team work load is appropriately balanced, monitor team performance and lead monthly team meetings
  • Resolve issues raised by others, taking responsibility for developing and delivering solutions and encourage the use of new initiatives
  • Prepare credible and convincing communications for partners or Group Finance to explain and address issues / share information
  • Prepare high quality presentations for training and other purposes
  • Ensure own and team’s compliance with all relevant firm deadlines and policies
  • Manage own and team’s absences to ensure constant level of service

WIP and Credit Control

  • The Working Capital Manager will perform the role of the Working Capital Controller (WCC) for around 6-8 partners. See the WCC job description for the details of that role 
  • Deliver a high quality billing and collections process to all partners and monitor the effectiveness of client billing and collection processes. Initiate improvements to enhance the quality of service, report regularly on positions and escalate increasing client exposures as appropriate
  • Be familiar with all billing rules and be prepared to support and advise Controllers in the team. Take responsibility for own and team’s compliance with billing rules and other firm policies
  • Manage the billing write off process and ensure any material amounts are brought to the attention of the CFO
  • Manage unbilled disbursements account balance process and disbursements written off on a monthly basis and investigate any significant movements
  • Work collaboratively with the team in Belfast (Revenue, Credit Control and eBilling) to deliver an efficient and effective working capital management process which is consistent with the agreed process design 

Pricing and Business Partnering

  • Support relationship partners and the global pricing team with rate negotiations. Assistance includes (i) providing timely, accurate and relevant financial information for decision-making, (ii) profitability forecasting based on multiple levers / potential outcomes, (iii) negotiation strategy and (iv) influencing / offering advice as appropriate to optimize the outcome of the negotiations
  • Promote the use of the A&O Pricing Model and provide appropriate support to ensure the completion of client rate exception groups, liaising with the global pricing team
  • Ensure IT systems / PMS reflect agreed engagement terms and relevant matter demographics by working closely with the Finance Systems Group

Matter profitability and project management

  • Manage the team’s completion of the billing forecast for circulation to senior management
  • Ensure fee earner status is appropriately reflected in the financial systems
  • Deliver design and preparation of financial presentations as well as ad hoc client reviews
  • Schedule practice group meetings with business managers / COO’s to review matter and client performance including bad debt write offs

Qualifications, Experience, Knowledge and Skills

  • Significant  experience in a management and / or operational role. Experience of a partnership environment and working in a matrix organization would be very 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
  • Must be a proactive self-starter with drive, resilience, enthusiasm and tenacity, possessing excellent communication skills both written and verbal
  • Have an understanding and appreciation for working cross-culturally
  • Commercial outlook essential with a strong understanding of the global finance markets
  • 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 experience in Microsoft Office, including Excel, Word and Outlook
  • Excellent attention to detail, prioritization and organizational skills
  • Ability to work under pressure and cope with the high and varied workloads
  • Occasional travel required to the Belfast SSC

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 our reputation as a firm that leads the industry and opens up new possibilities in law. Our lawyers are leaders in their field – and the same goes for our support teams. Ambitious, driven and open to fresh perspectives, we find 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. We are defined by our consistent commitment to creating a collaborative and supportive working culture and investing in your progress. We’re committed to supporting a culture that drives diversity and inclusion. Every day, we’re working hard to create an environment where you feel you can bring your authentic self to work. To be comfortable and confident to be who you are in the workplace. To feel like you belong. We offer rewarding careers that are built around your strengths and designed to ensure you can achieve your personal and professional ambitions. Joining our global team, you’ll discover what collaborating on a global scale really looks like; you’ll learn how to help drive change; and you’ll be at the heart of an organisation that’s defining the future of law. If you’re ready to find a place to thrive: It’s Time.

Company

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.

Find Us
Website:
Telephone
+44 (0) 20 3088 0000
Location
One Bishops Square
London
E1 6AD
GB
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