Working Capital Controller
- Allen & Overy LLP
- London (Central), London (Greater)
- Closing date
- 14 May 2023
- Vacancy Type
- Contract Type
- Experience Level
- Officer / Analyst / Engineer / Executive / Coordinator
- Role Classification
- Other Professional
We currently have an opportunity for an experienced Working Capital Controller to join our Finance team in London.
Role and responsibilities
Pricing and Business Partnering
- Assist Partners on profitability forecasting for individual matters (e.g. based on various scenarios around billing and write offs)
Net Investment Management
- Assist in monitoring the effectiveness of client billing and collection processes and suggest improvements to enhance the quality of service
- Review the client revenue and net investment balances (WIP and Debts) for partners you are allocated, take ownership of reporting regularly on positions and escalate increasing client exposures
- Liaise with partners and the Shared Service Centre (SSC) Credit Control team to improve the speed of cash collection
- Provide relevant reports (e.g. WIP and Debts) for monthly meetings with partners
- Review billing write offs and ensure any material amounts are escalated to working capital manager
- Review unbilled disbursements account balances and disbursements written off for your partners on a monthly basis and investigate any significant movements
Matter profitability and project management
- Analyse current billing and profitability information and other items of a complex nature for reporting and problem-solving including calculating PPP analysis of individual matters
- Assist partners in the preparation of matter budgets
- Delivery, design and preparation of financial presentations, and ad hoc client reviews
- Develop close relationships with the particular partners that you work with
- Develop close relationships with central pricing team in London and relevant client relationship teams
- Provide support for internal and external client meetings – determine nature of meeting and provide succinct financial advice in relation to billings and collections
- Ensure IT systems reflect agreed engagement terms by working closely with the Finance Systems Group.
- Establish good working relationships with the offshore SSC Finance Teams (Revenue, eBilling and Credit Control)
Ad-Hoc duties required from time to time may include the following:
- Involvement in ad hoc projects
- Reporting on specific clients or client groups
- Ad hoc reports specified by legal department
- Various reporting to clients (e.g. accruals)
- Calculating and posting volume discount accruals
- Meet with partners at least monthly to review current matters, ensure pledged bills materialise and credit control issues are also dealt with
- Comprehensive follow-up of action items, such as time transfer, time write off, dispatch of billing guides, disbursements, queries etc. This also includes follow up of all debt collection discussions
- Drafting narrative in support of bills, drafting monthly and quarterly bills for clients
- Preparation and processing of bills to ensure time and disbursements are accurately charged and allocated
- Preparation and processing of e-bills to ensure time and disbursements are accurately charged and allocated along with clearing rejected e-bills
- Maintenance of billing profile ensuring regular updates to give accurate estimates
- Checking bills thoroughly before sending to partners and clients
- Liaison with the SSC Teams in Belfast (Revenue, eBilling and Credit Control) and participate in relevant meetings
- Keep partners and clients advised on a daily/weekly basis of how fees are being accrued
- Promoting and creating the use of the Pricing Model and providing appropriate support and assistance to partners and associates
- Providing technical 3E support to Legal PAs if required
- Managing Working Capital Lock Up Days – to regularly review WIP and debtor lock up days for partner matters and to monitor trigger points of billing / write offs, so ensuring early revenue action to maintain optimum working capital hygiene from a WIP perspective. To also flag any debtor issues to partners that may be impacting the Lock Up profile to ensure the partner is well informed of any exposures
- Work closely with partners on credit control issues to unlock debts as quickly as possible. Key examples are influencing partners to allow normal debt-chasing processes on all their bills, highlighting any queries or disputes where partner intervention is required, highlighting the oldest debts
- Ensuring all the financial aspects of new matter set-ups are correctly completed
Key requirements, skills and experience
- Commitment to providing professional, responsive and effective relationships. Gains respect and makes a credible contribution.
- 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 others. Listens and understands issues from all perspectives and values other opinions
- Delivers tasks in a professional and organised way with limited supervision and responsive to immediate priorities.
- Able to work under pressure and multi task to meet deadlines
- Committed to the maintenance of established processes and systems
- Enthusiastic and proactive approach
- Ability to assimilate large amounts of information quickly and interested in rapid learning. Must be confident in the application of key compliance functions around SRA Accounts Rules, sales taxes and VAT in accordance with the firm’s documented procedures, clients’ e-billing and other client-specific requirements
- Good influencing skills
- Able to understand the wider business issues and to generate and develop new ideas to add value
- Experience within a Finance function is essential and experience within working capital would be beneficial
- Good numeracy and literacy skills
- Computer literate with experience in Microsoft Office, including Excel, Word and Outlook
- Experience of a legal practice management system would be beneficial
Should you require additional support at any stage of the recruitment process due to a disability or a health condition, please do not hesitate to contact a member of Allen & Overy’s recruitment team who will work with you to provide any reasonable adjustments as required.
We are an equal opportunities recruiter and do not discriminate on the basis of race, colour, sex, religion, sexual orientation, national origin, disability, or any other protected characteristic
At Allen & Overy, we recognise that our people are our most valuable asset, which is reflected in the wide range of benefits that are available to our employees. Some of these benefits include: our occupational pension scheme, group income protection cover, private medical insurance, mental health resources and free apps, health and wellbeing services encompassing an onsite gym, wellbeing centre and GP service, emergency back-up care support, parental and special leave, holiday entitlement increasing with length of service, holiday trading, season ticket loans and online discounts and lifestyle management services.
Allen & Overy recognises the value of flexible working and embraces hybrid working, allowing our people to work from home up to 40% of their working time. We do however remain committed to working together in person for the remaining 60% of time so that we can learn, grow and succeed together. If you would like additional flexibility we will of course consider this in line with business needs.
Additional information - External
Allen & Overy is a leading global law firm operating in over thirty countries. We work on some of the most challenging and important deals and have built a reputation for delivering exceptional legal solutions that help our clients grow, innovate and thrive. The legal industry is changing, and we're committed to leading that change, putting our people first, embracing new ways of thinking and integrating technology into our everyday work. Our business teams work hand-in-hand with our lawyers, Consultants and other specialist teams, and are ambitious, driven and leaders in their field.
With us, you will constantly be learning and growing. We invest in you by offering exceptional professional and personal development – providing training, mentoring and practical support. We offer rewarding careers that are built around your strengths and designed to ensure you can achieve your personal and professional goals, recognising that those may look different for everyone.
We have a powerful commitment to diversity, equity and inclusion. We’re determined to play our part in advancing a workplace where progress is made by harnessing our differences – whatever defines you, we ask you to bring your whole self to work.
What truly defines a career at Allen & Overy? We recruit the best and ask for the best of you. We provide challenge, support and a place for you to belong. And together we excel, working on meaningful projects of global significance.
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.
- +44 (0) 20 3088 0000
One Bishops Square
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