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For Companies At a Glance
- Tasks: Drive profitability and enhance financial performance through strategic collaboration.
- Company: Dynamic law firm focused on operational improvements and financial hygiene.
- Benefits: Hybrid working, competitive salary, and referral bonuses.
- Why this job: Make a real impact in finance while collaborating with senior stakeholders.
- Qualifications: Experience in finance roles, strong data interpretation, and leadership skills.
- Other info: Join a supportive team with opportunities for professional growth.
The predicted salary is between 36000 - 60000 £ per year.
About the Role
This is a high-impact role that partners closely with fee earners, Heads of Departments, and the Head of Operations to deliver strategic financial goals and operational improvements. You will be instrumental in driving profitability, improving revenue performance, and enhancing financial hygiene across the firm.
Key Responsibilities
- Collaborate with the Business Development (BD) team and fee earners to assist with fee estimates for client pitches, ensuring understanding of profitability implications within the fee earning groups.
- Review existing client relationships and collaborate with partners to suggest improved fee structures aimed at enhancing profitability.
- Conduct detailed profitability analysis of our clients by work type, team and department and discuss findings with partners, to help identify BD opportunities.
- Work with fee earners to maximise billing, regularly reviewing work in progress (WIP) and obtaining pledge estimates where necessary.
- For significant new matters, work with the Revenue Controllers to review the fee structure and assist fee earners with matter management. This involves monitoring WIP against the original estimate and raising to fee earners when scope and/or fee discussions are required with the client.
- Identify and monitor at risk WIP to prevent unnecessary write-offs, leveraging dashboards for real time tracking.
- Assist the Revenue Controllers with reviewing commercial fee arrangement (CFAs) and deferred billing arrangement (DBA) proposals to ensure they are commercially viable and assist fee earners with the approval process.
- Work with the Revenue Controllers to provide a monthly review of CFA's and DBA's to the Head of Finance and Heads of Department.
- Input to the annual budget and quarterly reforecasting processes to set fees and headcount to deliver a Gross Profit Margin as per the business plan.
- Regularly compile financial metrics required by Heads of Departments to monitor and manage gross profit and contribution in order to reach their targets.
- Assist Heads of Departments to understand their financial performance, identifying any issues and supporting them to resolve these and deliver exceptional performance.
- Analyse results from the biyearly WIP write off and annual FRS5 valuation exercises, identifying areas to improve recoverability and work with Head of Operations and Heads of Departments to implement new processes to reduce write offs.
- Assist in streamlining the annual rate-setting process, including development of team/client specific rates and review all client/matter specific rates.
- Brief Heads of Departments and the Head of Operations on a weekly and monthly basis.
- Reduce lock-up days and resolve financial queries promptly.
- Lead finance-related projects and process improvement initiatives.
- Support system upgrades through testing, training, and documentation.
About You
You will bring:
- Proven experience in a Finance Business Partner or similar role within a law firm or wider professional services is essential.
- Full or part qualification (CIMA, ACA, ACCA).
- Strong financial acumen and data interpretation skills.
- Ability to influence and collaborate with senior stakeholders.
- Experience advising on pricing and profitability.
- Leadership experience with a focus on team development.
- Excellent communication and problem-solving skills.
Hybrid working offered - 3 days in the office, 2 from home.
If this job isn’t quite right for you, but you know someone who would be great at this role, why not take advantage of our referral scheme? We offer £200 in shopping vouchers for every referred candidate who we place in a role. Terms & Conditions Apply.
Finance Business Partner in City of London employer: Ambition
Contact Detail:
Ambition Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Finance Business Partner in City of London
✨Tip Number 1
Network like a pro! Reach out to your connections in the finance and legal sectors. Attend industry events or webinars, and don’t be shy about introducing yourself. You never know who might have the inside scoop on job openings!
✨Tip Number 2
Prepare for those interviews by researching the company and its financial performance. Be ready to discuss how you can drive profitability and improve revenue based on their current strategies. Show them you mean business!
✨Tip Number 3
Practice your pitch! You’ll want to clearly articulate your experience in financial analysis and stakeholder collaboration. Make it personal and relevant to the role of Finance Business Partner – they need to see how you fit into their team.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen. Plus, we love seeing candidates who are proactive about their job search. Let’s get you that Finance Business Partner role!
We think you need these skills to ace Finance Business Partner in City of London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV speaks directly to the Finance Business Partner role. Highlight your experience in financial analysis and collaboration with senior stakeholders, as these are key aspects of the job.
Craft a Compelling Cover Letter: Use your cover letter to tell us why you're the perfect fit for this role. Share specific examples of how you've driven profitability and improved financial performance in previous positions.
Showcase Your Qualifications: If you have any qualifications like CIMA, ACA, or ACCA, make them stand out! We want to see how your credentials align with the requirements of the role.
Apply Through Our Website: Don’t forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for this exciting opportunity.
How to prepare for a job interview at Ambition
✨Know Your Numbers
As a Finance Business Partner, you'll need to demonstrate your financial acumen. Brush up on key financial metrics relevant to the role, such as profitability analysis and billing structures. Be ready to discuss how you've used these metrics in past roles to drive improvements.
✨Showcase Your Collaboration Skills
This role involves working closely with various stakeholders. Prepare examples of how you've successfully collaborated with teams or departments in the past. Highlight any specific projects where your input led to enhanced profitability or operational improvements.
✨Prepare for Scenario Questions
Expect questions that assess your problem-solving abilities. Think about potential scenarios you might face in this role, like managing at-risk WIP or advising on pricing strategies. Practise articulating your thought process and the steps you would take to resolve these issues.
✨Understand the Firm's Financial Goals
Research the firm’s recent financial performance and strategic goals. Being able to discuss how your role as a Finance Business Partner can align with and support these objectives will show your genuine interest and understanding of the business.
