At a Glance
- Tasks: Manage client money controls, oversee reconciliations, and ensure compliance with Accounts Rules.
- Company: Join a leading law firm with a strong commitment to financial integrity.
- Benefits: Competitive salary, professional development, and a supportive work environment.
- Other info: Opportunity for continuous improvement and career growth in a dynamic team.
- Why this job: Make a real impact by ensuring compliance and enhancing financial processes.
- Qualifications: Expertise in Solicitors’ Accounts Rules and experience in law firm finance.
The predicted salary is between 36000 - 60000 £ per year.
We have an exciting opportunity for a strong Financial Compliance Manager to join our Finance team.
What sort of work?
- Client money controls and reconciliations: Oversee reconciliations of client ledger totals, cash book balances, and bank statements for all client accounts, ensuring discrepancies are promptly investigated and resolved, with documented sign-off by COFA.
- Breach monitoring and reporting: Maintain and review breach register for Accounts Rules infringements ensuring prompt escalation to COFA where required and, where serious, timely reporting to the SRA. Investigate root causes of breaches (process gaps, system issues, human error), propose remedial measures, and track closure of actions. Liaise with external auditors when preparing formal accountants’ reports or responding to SRA inquiries regarding breaches.
- Policy and procedure maintenance: Assist in drafting, reviewing, and updating the firm’s Accounts Rules policies and procedure manuals to reflect current SRA Rules, guidance, and best practice. Create tailored guidance notes for practice groups. Maintain a regulatory developments log for changes to Accounts Rules or related SRA guidance, circulating briefs to relevant teams.
- Internal controls and audit support: Plan and execute periodic internal audits or sample file reviews to check compliance with Accounts Rules: verify source documents, client ledger accuracy, timely reconciliations, and adherence to policy. Identify control weaknesses and work with Finance/IT to implement system or process enhancements where needed. Ensure evidence of COFA challenge (e.g., review notes, sign-offs) is maintained, demonstrating ongoing oversight.
- Training and awareness: Develop and deliver targeted training sessions and refreshers for fee-earners and support staff on Accounts Rules basics: safe handling of client money, recognising prohibited transactions (e.g., using client account as banking facility), and reporting obligations.
- Reporting and metrics: Produce regular reports for COFA/Management Board: reconciliation timeliness rates, number and nature of breaches, status of remediation actions, training completion rates. Highlight trends or emerging risks (e.g., recurring reconciliation errors in particular practice areas) and recommend proactive measures.
- Continuous improvement and technology: Stay current with any updates to the Accounts Rules or SRA guidance; recommend updates to policies/procedures promptly. Incorporate lessons learned from internal/external audits and SRA feedback into controls and training materials.
Required Knowledge And Experience
- Solicitors’ Accounts Rules Expertise: Deep knowledge of SRA Accounts Rules.
- Law Firm Finance Environment: Prior experience in a law firm’s accounts or finance team, ideally with direct involvement in client account management, reconciliations, or preparation of accountants’ reports.
- Systems Proficiency: Familiarity with practice-management systems or accounting software used for legal accounts; strong Excel skills for ad-hoc analysis of ledger data. Audit liaison with external accountants or regulatory bodies.
- Communication: Strong communication skills are essential.
Financial Compliance Manager employer: Forsters LLP
Join our dynamic Finance team as a Financial Compliance Manager, where we prioritise a culture of integrity and continuous improvement. Our commitment to employee growth is reflected in tailored training sessions and opportunities for professional development, ensuring you stay at the forefront of compliance best practices. Located in a vibrant area, we offer a supportive work environment that values collaboration and innovation, making us an exceptional employer for those seeking meaningful and rewarding careers.
StudySmarter Expert Advice🤫
We think this is how you could land Financial Compliance Manager
✨Join Compliance Communities
Get involved in compliance and risk communities — both online and offline. Look for forums, LinkedIn groups, or even local meetups where compliance pros hang out. You never know who might drop a job opportunity your way!
✨Attend Industry Conferences
Keep an eye out for compliance and risk management conferences and workshops in your area. These events are a goldmine for networking, and they often have job boards or recruiters on-site looking for new talent. Plus, it’s a chance to learn what's trending in the field.
✨Leverage Your University Career Services
If you’ve recently graduated or are still studying, head over to your university's career services. Many companies, including those in compliance, actively recruit fresh talent through these services, so make sure you tap into that resource.
✨Showcase Your Knowledge Online
Start writing articles or blog posts about compliance topics that interest you. Share them on platforms like LinkedIn to demonstrate your knowledge and passion. This not only builds your presence in the field but can also catch the attention of companies like Forsters LLP looking for candidates who are engaged and informed.
We think you need these skills to ace Financial Compliance Manager
Some tips for your application 🫡
Show Your Understanding of Compliance:In the compliance-risk field, it's super important to showcase your understanding of regulations and risk management frameworks. Highlight any relevant coursework, certifications (like ICA or AML), or even projects that demonstrate your knowledge and commitment to this area. We want to see how you can navigate this complex landscape!
Quantify Your Achievements:When detailing your experience, try to quantify your achievements. For example, if you've previously worked on a project that improved compliance metrics or reduced risk exposure, give us the numbers! This data-driven approach really stands out to hiring managers in compliance-risk roles.
Tailor Your CV to Reflect Relevant Skills:Make sure your CV highlights skills that are particularly relevant to compliance, like attention to detail, analytical thinking, and report writing. Ensure these are easy to spot – consider using bullet points to break down your responsibilities and achievements for maximum impact!
Craft a Motivating Cover Letter:In your cover letter, let us know why you’re excited about the compliance-risk role at Forsters LLP. Share what motivates you about compliance, and how you believe you can contribute to our mission. This is your chance to showcase not only your skills but also your passion for this important field!
How to prepare for a job interview at Forsters LLP
✨Master the Regulations
Brush up on key compliance regulations relevant to the industry you're applying to. Familiarising yourself with specific laws and frameworks used in your field will give you an edge during technical questions. Show that you’re not just aware of them but can also apply them—think real-life scenarios!
✨Show Your Analytical Skills
Compliance roles really focus on analytical skills, so be prepared for case studies or situational questions during the interview. We've got to demonstrate how we approach risk assessments or compliance audits, possibly drawing on examples from past experiences or university projects. Bring some thoughtful case scenarios to discuss!
✨Know Your Tools
Get comfortable with commonly used compliance software and tools. Familiarity with platforms like RSA or MetricStream can really impress during your interview, as it shows you're ready to hit the ground running. If you’ve had any experience with them, make sure to highlight that!
✨Align with Company Culture
Since it's a full-time position, show your long-term commitment and interest in the company’s mission and values. Dive into how your ethics and professional philosophy align with Forsters LLP’s stance on compliance. A shared vision can really resonate with interviewers looking for fit as much as skill!
