Senior Working Capital Manager

We are recruiting for a Working Capital Senior Manager to join our team in London.

Department purpose

Achieving the firm’s vision requires a world class Finance department and our team add value when the information we produce enables great decisions, particularly with regard to working capital and profitability. That means producing information that is relevant, accurate and understandable and doing so as quickly as possible. It also means building relationships with the Partners and other decision-makers in the firm so that they trust us to advise them on what the information means and what the best course of action is.

Role purpose

To support the UK Head of Working Capital in delivering a robust, commercially focussed service for managing the entire London working capital life cycle from time-recording to cash collection. Pro-actively champion best practice in working capital management and actively embed this within key, large client relationships and/or individual client matters to enhance matter profitability. Ensure London Partners and department heads are receiving a seamless service across all aspects of the working capital life cycle. Improve profitability through minimizing write-offs (arising at the point of bill, through careful monitoring of worked value vs. budgets, and through collection strategy structures) to maximize matter recovery. Lead, train and develop the team of Working Capital Managers & Controllers ensuring they comply with the firm’s accounting policies and procedures. The focus of the role is on the London business, although the team is also responsible for monitoring and managing a small number of global clients.

Role and responsibilities

• Working Capital Management
• Play a key role in evaluating monthly inventory position to assess ability to achieve budgeted billing and collection targets.
• Manage the region’s client revenue and net investment balances (WIP and Debts), meet with partners to discuss and deeply understand increasing client exposures.
• Acquire a deep understanding of the various types of transactions and cases across regional partner books and initiate conversations to ascertain the prospects and timing of billing and collection.
• Closely monitor the financial risk buildup on large matters and strategize with partners to implement plans to avoid write-offs and maximize recoveries.
• Play a lead role in the annual WIP valuation exercise for the financial audit and answering other audit queries.
• Support the Head of Working Capital in working capital improvement initiatives, deputizing as required.
• Take an active role in the global Working Capital “Task Force” project, developing solutions for the region and globally.

• Pricing, Matter Profitability and Project Management
• Project manage a selection of clients and/or matters with a “Legal Project Management” lens to monitor effective legal staffing, and control margins through the assessment of time and cost write-offs and support proactive measures to increase margins where possible.
• Analyse current billing and profitability information and other items of a complex nature for reporting and problem-solving including PPP analysis of individual matters.
• Review write-off narratives searching for trends & areas for potential improvement.
• Prepare and model budgets for matter partner’s review prior to accepting new engagements.
• Delivery and design of reporting metrics to highlight improvements on days to bill and collect and demonstrated reductions on discretionary write-downs.
• Schedule practice group meetings to review partner, matter and client performance.
• Deliver ongoing training to associates and counsel for best practices on matter management.

• Relationship Management
• Act as business partner and trusted advisor to London partners and other senior decision makers.
• Develop strong working relationships with partners, counsel and associates and support Finance practice managers with difficult or complex partner requests.
• Establish good working relationships with external clients to facilitate the resolution of issues that may arise.
• Pre-empt client queries by applying knowledge from prior engagements to identify and mitigate potential risks.
• Maintain a close and collaborative relationship with all Working Capital Controllers and the London Pricing team.
• Report on progress and escalate areas of concern to Head of Working Capital, CFO and Practice group/Department heads.
• Lead relationship with offshore SSC Revenue, Credit Control and e-billing departments to ensure London receive a high-quality service and that the London team work effectively and collaboratively with the SSC to maximise efficiency.
• Key member and contributor to the London Finance Management team.

• Management and Development
• Provide leadership, seek opportunities for growth, and provide senior support across the working capital team.
• Help ensure team workload is appropriately balanced and partners are receiving appropriate support.
• Assist and train Working Capital Managers & Controllers to improve technical abilities and soft skills to continually increase value to the business.

Key requirements

• At least 10 years’ experience in a management and/or operational role in a leading company / firm with profit centre responsibility.
• Experience of a partnership environment and working in a matrix organization is 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.
• Pro-active self-starter with drive, enthusiasm and tenacity, possessing excellent communication skills both written and verbal.
• Will need to be visible with the confidence to advise, encourage, and sometimes challenge Partners.
• Ability to work under pressure in a target-driven and high-performance environment.
• Strong team management and development skills.
• Have an understanding of working cross-culturally.
• 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 level experience in Microsoft Office with ability to create analysis to “tell the story” with numbers.
• Excellent attention to detail, prioritisation and organizational skills.
• Experience with 3E is an advantage but not essential.
• Occasional travel may be required.

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 our recruitment team who will work with you to provide any 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.

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.

Our approach to hybrid working seeks to combine and maximise the benefits of effective remote working with the benefits of being in the office. Our current hybrid working arrangements require office based working for a minimum of 60% of your time (i.e. three days per week for a full time role) in accordance with our hybrid working policy.