Director of Finance

Friday 08 Mar 2024

Ref: 1056

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I am delighted to be working with a highly sought after, specialist law firm in its recruitment of a Director of Finance. This role will ensure that Partners receive timely financial insights crucial for firm management decisions and will serve as the firm's Compliance Officer for Finance and Administration (COFA). Additionally as a member of the firm's Management Group, the Director of Finance will be expected to participate in bi-weekly meetings to address matters concerning the firm's efficient management and overall operational effectiveness. These meetings encompass strategic discussions, usually requiring partnership agreement, as well as operational issues. The Director of Finance's role is to verify that decisions made by the group align with budgets and financial goals, ensuring their viability and coherence.


The main responsibilities of the role entail providing comprehensive and efficient financial accounting services, collaborating with others as needed. This includes generating regular financial reports for partners, attending monthly meetings to discuss financial performance, creating budgets and setting charge-out rates, and overseeing financial performance monitoring. Additionally, responsibilities encompass treasury management, which involves billing, collections, and cash management, as well as maintaining and enhancing practice management and billing systems. Providing fee earners with client and matter related information is also part of the duties. Other tasks involve preparing annual accounts, coordinating with auditors, handling VAT returns and compliance, and liaising with tax agencies as necessary.


As a member of the firm's Finance Group, you will provide support in monitoring the financial well-being of the firm. This involves reporting to the group on a monthly basis, preparing meeting agendas and minutes, and assisting in establishing and enforcing policies for profit distributions. This role will continuously monitor and report any financial risks to the firm, manage banking arrangements, and implement effective credit control processes. Additionally, the Director of Finance will oversee payroll, including staff loans, and ensure that Partners and fee earners grasp the firm's financial mechanisms to positively influence profitability, offering training as needed. This role will also be expected to develop financial statistics to aid fee earner evaluations and career progression processes, while also leading and managing the accounts team to ensure efficient accounting practices. Lastly, you will provide financial insights at remuneration committee meetings to enhance decision-making regarding remuneration policy and decisions.


Applicants should be qualified Accountants with extensive experience in senior financial roles within partnership settings. You must demonstrate exceptional analytical and financial management capabilities, adept at conveying complex financial information to both financial experts and non-specialists. Proficiency in database technologies and financial software, particularly Aderant, is preferred, requiring advanced Excel or similar competencies. Furthermore, the candidate should possess a strategic mindset, capable of contributing insights towards the firm's overall direction