Finance Manager (Law Firm) in Loughton

Experience

Minimum 8 years’ finance experience within a law firm

Department

Finance / Business Support

Location

• Loughton
• About the Firm

A well-established regional law firm with multiple offices across Hertfordshire, Essex and London is seeking an experienced Finance Manager to lead its finance function.

The firm has a strong reputation for client service and is committed to providing a supportive working environment, clear career progression and opportunities for professional development.

The Role

The Finance Manager will lead the firm’s finance function and manage a team of four, ensuring accurate financial reporting, effective cash flow management, regulatory compliance and efficient financial operations.

The successful candidate will oversee day-to-day accounting activities and ensure compliance with the Solicitors Regulation Authority (SRA) Accounts Rules and other relevant legal sector requirements.

Applicants should have a minimum of eight years’ finance experience within a law firm and hold an AAT, ACCA, ACA, CIMA or equivalent accounting qualification.

Previous management experience is essential, while experience as a Compliance Officer for Finance and Administration (COFA) is preferred.

Essential Knowledge and Experience

• Experience working within a law firm or professional services environment.
• Strong understanding of the SRA Accounts Rules.
• Experience preparing management accounts.
• Budget preparation and financial forecasting.
• Cash flow management.
• Experience managing and developing finance teams.
• Knowledge of VAT, payroll and relevant tax requirements.
• Experience using legal accounting software and case management systems.
• Strong organisational, communication and leadership skills.

Key Responsibilities

• Oversee the firm’s day-to-day financial operations.
• Prepare monthly management accounts and financial reports.
• Monitor profitability, budgets and departmental performance.
• Conduct variance analysis against budgets and forecasts.
• Support partners with financial performance analysis and key metrics.
• Prepare annual budgets and financial forecasts.
• Monitor lock-up, including work in progress (WIP), debtors and disbursements.
• Oversee billing processes and revenue recognition.
• Report on fee income, recovery rates, partner drawings and departmental profitability.
• Monitor matter balances, residual client account balances and forecast cash requirements.
• Assist with borrowing arrangements and lender covenant compliance where applicable.
• Cash Flow and Banking
• Manage the firm’s cash flow and prepare forecasts.
• Monitor client and office account balances.
• Liaise with banks and financial institutions.
• Maintain appropriate controls over payments and receipts.
• Authorise payments in accordance with delegated authority.
• SRA Accounts Rules and Regulatory Compliance
• Ensure compliance with the SRA Accounts Rules.
• Oversee client account reconciliations and monitor residual balances.
• Prepare information for annual accountant’s reports.
• Support regulatory inspections, compliance reviews and audits.
• Work closely with the firm’s COLP where appropriate.
• Undertake the role of COFA.
• Produce monthly, quarterly and annual financial reports.
• Prepare statutory accounts information for external accountants.
• Maintain accurate and complete financial records.
• Provide financial analysis, KPI reporting and management information.
• Monitor departmental performance against agreed targets.
• Team Management
• Lead, manage and develop a team of four finance professionals.
• Conduct performance reviews and provide training.
• Ensure appropriate departmental cover and succession planning.
• Promote high standards of service to internal stakeholders.
• Systems and Process Improvement
• Maintain and improve financial systems, controls and procedures.
• Identify opportunities to improve efficiency.
• Support the implementation of finance software and reporting tools.
• Develop reporting dashboards and management information in collaboration with IT.
• Compliance and Risk Management
• Ensure compliance with VAT, PAYE and other tax obligations.
• Oversee payroll processes in conjunction with HR.
• Maintain robust financial controls.
• Support anti-money laundering (AML) compliance where relevant.
• Monitor professional indemnity insurance and regulatory payments.
• What the Firm Is Looking For

The successful candidate will be professional, commercially aware and committed to delivering high standards.

They should demonstrate sound judgement, a proactive approach to problem-solving and the ability to build effective relationships with partners and colleagues.

Strong leadership, attention to detail and an awareness of financial and regulatory risks are essential.

• Flexible and hybrid working arrangements.
• Structured career development and progression.
• Supportive working environment with regular one-to-ones and performance reviews.
• Firm-wide and fee-earner bonus schemes.
• 25 days’ annual leave, increasing with length of service up to 30 days.
• Contributory pension scheme.
• Employee Assistance Programme.
• Access to a financial wellbeing platform.
• Social and wellbeing initiatives.
• Regular staff events and team activities.
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