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- Tasks: Manage working capital, optimise revenue, and oversee billing to cash collection.
- Company: Join Thrings, a top law firm with a supportive culture and multiple UK offices.
- Benefits: Enjoy hybrid working, competitive salary, private medical insurance, and more tailored benefits.
- Why this job: Be a trusted advisor, influence key decisions, and develop your leadership skills in a dynamic environment.
- Qualifications: 5+ years in finance, strong WIP management, and stakeholder engagement skills required.
- Other info: This role offers opportunities for professional development and networking events.
The predicted salary is between 36000 - 60000 £ per year.
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We are looking for an experienced Working Capital Manager to join our Finance Team in either our Bristol or Swindon office. 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. This position requires close interaction with partners, fee earners, clients, and key stakeholders to ensure effective management of the billing to cash collection cycle, and the minimisation of financial risk.
Key Responsibilities:
- Managing working capital and revenue control, including maximizing 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.
What we’re looking for:
- 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.
- 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.
- 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.
Working hours & location:
This is a hybrid role, based in either our Bristol or Swindon office 3 days a week. Occasional travel to our other offices in Bath, Ross-on-Wye, Lydney, Romsey and London will be required.
It’s a full-time position, 35 hours per week, Monday to Friday.
About us:
Thrings is a Top Law firm, with offices in London, Bristol, Bath, Swindon, Romsey and the Wye Valley.
By joining Thrings you are joining a supportive and well-respected firm. You can expect that you will be able to work between home and the office and we also offer a great working environment, with hot desking available for when you’re in the office and plenty of social/networking events to get involved with!
As a law firm, we support our clients by providing a variety of advice, across several different industries. We are proud of the reputation we have built to date, both externally with our clients and referrers, as well as the inclusive culture and working environment we have across all our offices.
What we can offer:
In return for your hard work, you can expect a competitive salary and a variety of benefits that can be tailored around the requirements for you and your family, including Private Medical Insurance, Dental Insurance, Health checks and much more.
We are an equal opportunities employer and welcome applications from all suitably qualified persons regardless of their race, sex, disability, religion/belief, sexual orientation or age.
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Working Capital Manager employer: Thrings
Contact Detail:
Thrings 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 mentioned in the job description, such as the SRA Code of Practice and VAT regulations. This knowledge will not only help you understand the role better but also demonstrate your commitment to compliance during discussions.
✨Tip Number 2
Network with professionals in the finance sector, particularly those who have experience in working capital management within professional services. Engaging with them can provide insights into the role and may even lead to referrals or recommendations.
✨Tip Number 3
Prepare to discuss your experience in managing working capital and revenue control in detail. Be ready to share specific examples of how you've optimised cash collection processes or improved billing cycles in your previous roles.
✨Tip Number 4
Showcase your leadership skills by thinking about how you would mentor and develop a team. Be prepared to discuss your approach to training and managing a credit control team, as this is a key aspect of the role.
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, revenue control, and credit management. Use specific examples that demonstrate your ability to optimise cash collection and manage financial risks.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Mention how your background aligns with the responsibilities outlined in the job description, particularly your experience in stakeholder management and team leadership.
Highlight Relevant Qualifications: If you have qualifications from the Institute of Credit Management or similar, be sure to mention these prominently. Also, include any relevant training or certifications that showcase your expertise in financial regulations and compliance.
Showcase Soft Skills: The role requires strong interpersonal and negotiation skills. Provide examples in your application that illustrate your ability to influence stakeholders and build relationships, as well as your resilience and leadership capabilities.
How to prepare for a job interview at Thrings
✨Understand the Role Thoroughly
Before the interview, make sure you have a solid grasp of what a Working Capital Manager does. Familiarise yourself with key responsibilities such as managing working capital, revenue control, and credit management. This will help you answer questions confidently and demonstrate your suitability for the role.
✨Prepare for Stakeholder Management Questions
Given the importance of stakeholder relationships in this role, be ready to discuss your experience in managing and influencing stakeholders. Think of specific examples where you've successfully navigated complex situations or improved processes through collaboration.
✨Showcase Your Leadership Skills
As a potential leader of the credit control team, it's crucial to highlight your leadership experience. Prepare to discuss how you've developed teams in the past, any training initiatives you've led, and how you foster high performance among team members.
✨Demonstrate Your Knowledge of Regulatory Frameworks
Since compliance is a significant aspect of the role, brush up on relevant regulations like the SRA Code of Practice and VAT considerations. Be prepared to discuss how you've ensured compliance in previous roles and how you would approach it in this position.
