Finance Business Partner

Newly created Finance Business Partner positions now available at UK HQ law firm.

The Finance Business Partner role is an exciting opportunity that has emerged due to a change in the operational structure, aiming to bring finance closer to fee earners and deliver insightful analysis for partners and leaders. They are looking to hire two Finance Business partners to sit in their two main groups, Dispute Resolution/Corporate/ Private Client and then Real Estate. Both groups are quite evenly split in terms of size/ revenue/partner numbers.

As the Finance Business Partner, you will be an integral part of driving the success of the respective department forward and will be tasked with effecting demonstrable change in working practices and performance by promoting a best-in-class philosophy and strategic financial decision making.

Specific duties include:

• Work with fee earners to maximise billing, regularly reviewing work in progress (WIP)
• For significant new matters (above £100k), work with the Revenue Controller(s) 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 Controller(s) 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 Controller(s) to provide a monthly review of CFA's and DBA's to the Head of Finance and Heads of Department (HoDs).
• 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 HoDs to monitor and manage gross profit and contribution in order to reach their targets. Assist HoDs and Heads of Teams (HoTs) 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 HoOps and HoDs 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
• Collaborate with the Business Development 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
• Effectively manage Revenue Controller(s), conducting performance reviews and ensuring their positive personal development
• Delegate tasks effectively to allow for team efficiency and good workflow management

Experience needed:

• Part or Fully Qualified in an accountancy qualification (ACCA/ACA/CIMA)
• Hands on experience working in a finance business partnering roles working closely with allocated groups/ teams as a trusted advisor
• Experience working in a law firm or wider professional services environment is essential
• Experience of Pricing is hugely beneficial
• Ability to collaborate effectively with a wide range of senior stakeholders, including fee earners, business services functions and senior management
• Previous experience advising fee earners on pricing strategies and profitability management in a professional services environment
• Proven ability to manage and lead teams effectively, fostering development and achieving performance goals

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. https://www.ambition.co.uk/refer-a-friend