Working Capital Manager
A top UK law firm in London are looking for a Working Capital Manager to join their finance team. As the Working Capital Manager you will be reporting to the CFO and will have a team of 8 finance staff reporting into you.
As the Working Capital Manager you will take responsibility for the firm's Working Capital Management and driving forward initiatives to reduce the firm's lock-up. This will include the end to end billing process and credit control process. An important part of the role is establishing strong working relationships with all partners through regular meetings to ensure that focus is maintained on timely billing and debt collection.
Additional responsibilities include -
- Being a member of the firm's Finance Committee, which meets fortnightly to review the firm's exposure and set credit limits for clients.
- Setting the firm's billing and cash collection targets on a monthly basis and feed into the firm's cashflow forecasts.
- Involvement in the firm's quarterly reporting routines, including reporting progress against the firm's strategic objectives and lock-up targets.
- Setting charge out rates including leading the annual review process and review of historic rates.
- Ensuring that regular billing patterns, and where possible monthly billing cycles, are established taking care that any special billing arrangements are observed.
- All aspects of team management, including appraisals, recruitment and encouraging the team to develop within their roles.
- Support the CFO and FC with ad-hoc analysis.
You will also be involved in some projects which will include-
- Implementation of the auto-billing module in Elite. This will include process mapping and requirements gathering alongside the project manager leading this project.
- Review of the credit control module in Elite with the view of making recommendations about changes to the system or the implementation of an additional bolt on product.
- Review of all processes related to working capital management including team structure and resource requirements.
To be successful in this Working Capital Manager role you must have -
- An ability to actively engage in the business, through strong verbal communication skills and a pro-active approach to identifying process improvements to ensure the needs of the partnership are met.
- Track record of managing a small team, including coaching and development aspects.
- The ability to manage workload with colleagues based in other locations, communicating as needed to ensure successful team delivery on projects.
- Track record of achievement and development in similar role.
- An enthusiastic and flexible approach with a 'can do' attitude.