Job description

Department purpose and structure

Achieving the firm's vision requires a world-class Finance department, and our teams add value when the information we produce enables great decisions. That means producing information that is relevant, accurate and understandable and doing so as quickly as possible. It also means building relationships with the Partners and other decision-makers in the firm so that they trust us to advise them on what the information means and what the best course
of action is.

Role purpose

The primary role of the US Working Capital Controller (WCC) is to help US partners manage their practices by providing full lifecycle cash conversion, as well as matter management and pricing support. This involves active engagement with partners and matter managers across the life of a matter. WCCs also play an active role in ensuring the deal teams are current on their timesheets, setting and monitoring matter, task and phased budgeting, client reporting, coordination with the Advanced Delivery teams, and general pricing support. The Working Capital Controller is also the primary liaison for US Partners and other fee earners to ensure that bills are being rendered to our clients on time and accurately, and in compliance with all agreed terms, Solicitors Accounts Rules, Tax regulations, and relevant A&O Shearman compliance policies.

As a Working Capital Controller, you will be expected to handle a portfolio of partners that may include those with more complex practice areas and therefore require more experienced support. You will also be expected to deputize for the Working Capital Manager from time-to-time, and while the role does not include any direct line-management responsibilities, you will have dotted line relationships with other Working Capital Controllers on the team. This will include supervision and delegation of tasks where appropriate, including a shared services center.

Key relationships

• US Head of Pricing and Commercial Management and US CFO
• Americas Senior Working Capital Managers
• Working Capital and Pricing Managers
• Working Capital Controllers Globally
• Partners and Matter Managers
• Shared Service Teams in Belfast

Job Description

Context

This role is partner-facing and involves serving as the primary financial point of contact for partners and other fee earners across assigned practice areas. The Working Capital Controller is crucial to the firm's revenue cycle - from matter inception and budgeting through billing, collections, and working capital management - and to ensure that partners have timely, accurate financial information to manage their practices effectively. The WCC balances day-to-day operational support with broader financial oversight, requiring strong commercial awareness, the confidence to advise and challenge partners when needed, and the ability to collaborate closely with shared service teams in Belfast and other support functions.

Role and responsibilities

Supporting the billing process

• Meet with partners monthly, or as needed, to review current matters, obtain billing forecast information and follow up to ensure that all pledged billing is actioned in a timely manner each month.
• Oversee and follow up on the processing of action items, such as time transfer, time write off, dispatch of billing guides, disbursements, etc., handled mainly by our Revenue Assistants in our Belfast Shared Services Center.
• Oversight and review (occasional preparation/processing) of invoices, ensuring time and disbursements are accurately charged in accordance with client billing guidelines.
• Uphold department standards and preserve integrity of established revenue accounting controls.
• Thorough final review of invoices before sending them to partners for distribution to their clients.
• Provide training and technical financial system support to Legal PAs and Fee Earners where necessary.
• Review and management of working capital lock-up days - monitor trigger points where write offs occur to ensure early attention and counteraction.
• Review inventory for working capital hygiene purposes, to clear inventory that is no longer recoverable in a timely manner.
• Flag inventory and accounts receivable issues that may impact the Lock Up Profile and ensure the partner and management are well informed of increasing exposures.

Working Capital Management

• Assist the Working Capital Manager as required, in maintaining a holistic understanding of the working capital position of your particular practice area.
• Assist with matter inception process, review engagement letter and agreements to ensure that agreed billing rates are accurate for new instructions.
• Review client/matter working capital balances (WIP and Debts), take ownership of reporting on and escalating matters that are aging or where we have increasing client exposure.
• Send regular working capital related reporting to partners with concise narratives.
• Provide support to the cash allocations team to assist with the allocation of client-related payments.
• Oversee client money balances and ensure that funds are being applied/refunded in a timely manner.
• Review billing write offs and ensure any material amounts are escalated, prepare write-off narratives for write-off committee approval.
• Review unbilled disbursements balances and disbursements written off on a monthly basis and investigate any significant movements.
• Diligent file maintenance for all associated billing, collections, and client money related backup materials.

Relationship Management

• Act as trusted business advisor to assigned partners and other fee earners, working closely with their assistants and other support functions.
• Provide supporting materials and information for client meetings - determine nature of meeting and provide succinct financial advice in relation to time submission, billings, profitability and collections.
• Draft matter budgets for all significant instructions in conjunction with the matter manager and ensure automatic alerts are activated to ensure progress is reported on an ongoing basis.
• Establish solid working relationships with the offshore SSC Finance Teams (Revenue, eBilling and Credit Control).

Ad-Hoc duties required from time to time may include the following.

• Involvement in ad hoc projects.
• Responding to requests for ad hoc reporting in support of Marketing/BD related efforts.
• Fee Earner Business Reporting and other HR related efforts.
• Assisting other teams as and when cover is required.
• Client specific reporting.
• Missing timesheet review and follow-up.
• General administrative housekeeping requests.

Team

This individual will report directly to one of the Working Capital Managers and will work closely with partners, matter managers, and other support staff teams, not limited to the Finance team, but also Human Resources, Marketing/BD, Information Technology, and others.

Key requirements

• Pro-active self-starter with drive, enthusiasm and tenacity, possessing excellent communication skills both written and verbal. Will need to be visible with the confidence to advise, encourage, and sometimes challenge partners.
• Excellent analytical and numeracy skills are a prerequisite for the role, plus the individual will need to adopt a 'broad bush,' big-picture approach and appreciate the commercial realities of a dynamic, fast-moving practice.
• Intermediate level experience or above in Microsoft Office, including Excel, Word, Outlook and PowerPoint.
• Excellent attention to detail, prioritization, and organizational skills. Ability to work under pressure and cope with high demands and varied workloads.
• A recognized accountancy qualification is advantageous but not essential.
• Experience with 3E is advantage but not essential.
• Previous supervisory experience is desirable, but not essential.

Additional information - External

This role is open to our New York, Dallas and Houston offices. For individuals assigned to or hired for this opportunity in New York, the estimated annualized base salary range for this position is $96,000 - $123,000. For individuals assigned to or hired for this opportunity in Dallas and Houston, the estimated annualized base salary range for this position is $75,000 - $103,000. The actual base salary offered will depend on the overall qualifications of the individual applicant for the position and other job-related factors permitted by law. We offer competitive compensation and benefits package which includes a discretionary bonus, paid leave, life, health, accident, and disability insurance; and a 401(k) plan.