We are currently recruiting for a Partnership Accountant to join our Partners' Affairs & Tax team within Finance in the London office on a permanent basis. The remit of the team is to support all aspects of the firm’s partnership accounting/partner finance function across the territories in which the firm operates. This includes the calculation and payment of partners’ profit share (drawings & distributions), the management of partnership capital and partnership capital loan, partners’ tax reserving and tax payments.
Role and Responsibilities
Partnership Capital/Capital Loans, including;
- managing the annual capital contribution process together with arranging capital contributions/capital loans for new partner and capital loan repayments for retirees
- managing relationships with the banks and legal advisers with regard to capital loan documentation
- forecasting of bank facility limits.
- responsible for the maintenance and reconciliation of partners’ capital general ledger accounts
- reconciling interest and arranging the quarterly loan interest payments to the firm’s banks
Ownership of the Partner joiner, mover and retiree processes thereby ensuring a smooth transition. This includes;
- preparing cash flow projections for new & lateral partner hire partners
- preparing retirement calculations across a portfolio of offices
- reviewing confirmation of earnings letters for partners’ personal finance purposes
- posting partner finance related journals in line with the firm’s policies, for example partner retirement journals
- reconciliation of partner expat accounts in line with relocation assignment terms
- preparing ad hoc reports/cash flow projections to facilitate decision-making
Responsible for the calculation and co-ordination of the annual Global Allen & Overy Foundation charity contributions. This includes;
- calculation of each partners’ annual contribution and charging to partner current accounts
- allocation between offices of contributions to be made by local committees
- ensuring tax efficient treatment of contributions, where possible
Ownership and reconciliation of the partners’ disbursement accounts, including;
- Monthly reconciliations thereby ensuring the accurate collection and clear down of balances
- responding to partner disbursement queries on disbursements
Supporting the year end process;
- assisting with the year-end audit / liaising with auditors, particularly around the partnership capital process
- preparing year-end capital schedules to facilitate the production of the annual partner statements and disclosure in the firm’s Annual Report & Financial Statements
- Providing support to the teams’ management in ad-hoc project work, such as the development of new partner processes and systems, in particular the continued development and enhancement of the capital raising process.
- Providing cover for the calculation and payment of partners’ monthly drawings and special distributions, including inputting of information into the Global Payroll System and the running of reports.
- Providing support/cover for monthly reporting and forecasting for management accounting purposes together with ad hoc management reporting to facilitate decision-making.
- Excellent communication skills both oral and written
- Enthusiastic, dynamic, pro-active, ambitious, commitment to "getting the job done".
- Ability to assimilate large amounts of information and a strong eye for detail.
- Able to work effectively using own initiative and as part of a team.
- Strong numeracy and IT skills, including knowledge of Windows, Excel, and Word and the ability to adapt to using unfamiliar software packages. Particular emphasis is placed on experience of Excel.
- Strong time management skills, ability to multi-task, prioritise, manage processes, critically review and evaluate financial information.
- Proven ability to provide a high level of 'client service'.
- Previous business experience in a global organisation, preferably within a professional services function.
- Graduate or A level calibre.
- Qualified Accountant (ACCA or similar)
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.