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For Companies At a Glance
- Tasks: Manage working capital, optimise revenue, and oversee billing cycles.
- Company: Join a leading law firm known for its dynamic finance team.
- Benefits: Enjoy a competitive salary and hybrid working options.
- Why this job: Be a key player in financial strategy and make a real impact.
- Qualifications: 5+ years in finance, ideally in professional services; strong leadership skills required.
- Other info: Opportunity to mentor and develop a high-performing credit control team.
The predicted salary is between 43200 - 72000 £ per year.
Our client, a leading law firm, has an exciting opportunity for a Working Capital Manager to join their finance team!
The role:
- The Working Capital Manager acts as a business partner and trusted advisor to partners and other senior decision-makers with the principal objective of optimising revenue, matter profitability and speed of cash collection.
- Managing working capital and revenue control, including maximising the speed of cash collection and turning WIP into cash, analysing and interpreting data to identify early-cycle financial risks, overseeing the full billing cycle, reviewing, and recommending commercial and legal action for outstanding WIP/debts, and supporting pricing decisions and commercial rate negotiations.
- Credit and debt management including managing, training, and developing the credit control team to collect outstanding balances, leading on complex accounts, managing the credit control software and holding regular meetings with Client Partners to resolve persistent issues and improving collection processes.
- Ensuring compliance with regulatory requirements, including SRA Code of Practice, Solicitors Accounts Rules, money laundering regulations, and VAT considerations.
- Maintain and document financial control policies, procedures, and best practices.
- Produce and present lock-up reports and other financial insights as required, tailored to assist Partners and staff.
- Build and maintain strong relationships with internal stakeholders, including fee earners and Client Partners.
- Working closely with the rest of the Finance team to drive process improvements of Working Capital (WIP, billing and debt management) to the wider firm.
- Lead, develop, and mentor the credit control team and Revenue Coordinator to ensure high performance.
- Support recruitment, training, and continuous professional development within the Working Capital function.
Key skills/experience:
- Minimum of 5+ years’ experience in a similar role within a medium-sized business, ideally within professional services.
- Qualified by experience or a member of ICM (Institute of Credit Management) or ACP (Association of Credit Professionals), or other suitable qualification.
- Strong understanding of WIP management, revenue control, and credit control processes.
- Familiarity with regulatory frameworks, including SRA accounts rules, VAT regulations, and financial reporting requirements.
- Experience with stakeholder management in a finance-related role.
- Strong leadership and team management skills, together with being commercially astute and business-first approach.
- Excellent negotiation and interpersonal skills, with the ability to influence stakeholders at all levels.
Contact Detail:
H2R Selection Limited Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Working Capital Manager
✨Tip Number 1
Familiarise yourself with the specific financial regulations and compliance requirements mentioned in the job description, such as the SRA Code of Practice and VAT regulations. This knowledge will not only help you stand out during interviews but also demonstrate your commitment to the role.
✨Tip Number 2
Network with professionals in the legal and finance sectors, particularly those who have experience in working capital management. Engaging with industry peers can provide valuable insights and potentially lead to referrals or recommendations for the position.
✨Tip Number 3
Prepare to discuss your previous experiences in managing working capital and credit control processes. Be ready to share specific examples of how you've optimised revenue and improved cash collection in past roles, as this will showcase your expertise and suitability for the position.
✨Tip Number 4
Highlight your leadership and team management skills during conversations with potential employers. Since the role involves mentoring a credit control team, demonstrating your ability to lead and develop others will be crucial in making a strong impression.
We think you need these skills to ace Working Capital Manager
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in working capital management, credit control, and financial reporting. Use specific examples that demonstrate your ability to optimise revenue and manage WIP effectively.
Craft a Compelling Cover Letter: In your cover letter, explain why you are interested in the Working Capital Manager position and how your skills align with the job requirements. Mention your experience in stakeholder management and your understanding of regulatory frameworks.
Showcase Leadership Skills: Emphasise your leadership and team management experience. Provide examples of how you have developed and mentored teams in previous roles, particularly in finance or credit control settings.
Highlight Relevant Qualifications: If you have qualifications from ICM or ACP, make sure to mention them prominently. Also, include any other relevant certifications that demonstrate your expertise in financial management and compliance.
How to prepare for a job interview at H2R Selection Limited
✨Know Your Numbers
As a Working Capital Manager, you'll need to demonstrate a strong grasp of financial metrics. Be prepared to discuss your experience with WIP management, revenue control, and cash collection strategies. Bring examples of how you've optimised these areas in previous roles.
✨Showcase Your Leadership Skills
This role involves leading and mentoring a team. Highlight your leadership experience by sharing specific instances where you've developed team members or improved team performance. Discuss your approach to training and managing the credit control team.
✨Understand Regulatory Requirements
Familiarity with regulatory frameworks is crucial. Brush up on the SRA Code of Practice and other relevant regulations. Be ready to explain how you've ensured compliance in past positions and how you would approach this in the new role.
✨Build Relationships
Strong stakeholder management is key for this position. Prepare to discuss how you've built and maintained relationships with internal stakeholders in previous roles. Share examples of how you've influenced decision-making and resolved conflicts effectively.
