Head of Finance Operations

Profile

About Ashurst:

Ashurst is a leading progressive global law firm with a rich history spanning more than 200 years. We are proud of our history and are future-focused, having expanded into new technologies through our NewLaw division, Ashurst Advance, and our consulting arm. Our in-depth understanding of our clients and commitment to providing excellent standards of service have seen us become a trusted adviser to local and global corporates, financial institutions and governments in all areas of commercial law. To find out more please visit

www.ashurst.com

Department/Role overview:

Lead part of the centralised finance operations team which sits within a shared service function called Ashurst Service Central (ASC). The team includes accounts payable and, cashiering and is currently managed via (5) direct reports with a headcount of circa 21 across the UK and Australia. A key deliverable over the medium term will be to develop the teams in Glasgow and Australia so that we can support every Ashurst office and realise the full benefits of a centralised global business service offering.

A critical part of the role is to oversee the legal cashiering team and ensuring compliance with the detailed requirements of the Accounts Rules. For example, carrying out client account reconciliations, making sure that residual balances are paid to clients, recording breaches and notifying the firm's COFA.

More broadly, effective cashiering is part of the requirement for firms to have sound financial and risk management, and to protect client money and assets.

Main responsibilities:

Cashiering

Establishing sound governance and control of cashiering activity across all offices globally

Overseeing accounting records and ensuring they are up to date

Overseeing any payments received or remitted (a particularly high risk area) for both the office and client accounts

Ensuring controls are in place to manage the risk of errors or compliance breaches

Ensuring our processes are efficient and effective

Preparing reports for the audit committee; the COFA and senior stakeholders

Managing and governing of any new bank accounts

Managing any unallocated aged balances in office accounts

Managing the annual regulatory audit of client money and cashiering activity in line with SRA and Australian state regulatory requirements

Accounts Payable

Managing production Payment Practices Report in the UK and Payment Times Reporting Scheme in Australia - including ongoing initiatives to improve results

Review and follow up of unallocated credit card transactions

Oversee accounts payable teams delivery

Prepare stakeholder reports highlighting key expenditure items and trends

Participate in project activity to implement new travel provider

People

Work with ASC management to develop and embed the target operating model

Provide leadership to the global ASC Finance team ensuring that all employees are engaged and aligned with the firm's objectives

Ensure roles and responsibilities for team leaders and employees are defined and communicated clearly

Establish SMART objectives for team leaders and meet regularly with direct reports to track progress and provide support

Identify and develop the skills/experience required within the teams to meet SLAs (qualitative and quantitative) and eliminate single points of failure

Recruit effectively to fill vacant positions as they arise and manage performance issues promptly and appropriately

Work collaboratively with the Global FM Leadership Team, lawyers, partners and other internal clients to ensure we understand their needs and meet their expectations

Process and Service

Act as a lead in identifying and transferring additional services into ASC Finance

Set KPIs and define SLAs based on accurate baselines and sensible targets

Work with global process owners to ensure that processes are as effective and efficient as possible, identifying and pursuing improvement opportunities in accordance with the ASC Ways of Working (from business case to benefits tracking)

Forecast resource and system requirements to ensure we can meet expectations through peak periods of activity and smooth those cycles where possible

Ensure prompt and appropriate response to any service issues

Internal controls and risk management

Work with the ASC Business Assurance Lead to risk assess your function and embed effective internal controls (incl segregation of duties) and business assurance activities

Ensure controls are in place and operational to meet SRA and other relevant accounting rules, including compliance with firm's client monies obligations

Ensure controls are in place to provide assurance on the accurate capture of output and input VAT and other relevant tax on transactions

Act as bank signatory and payment authoriser/releaser

Essential skills and experience:

Qualified Account with essential relevant experience

Experience of working in a law firm or similar highly regulated environment is essential as is the ability to interpret rules and regulations in a simple but effective manner

Proven experience in managing client trust accounts

Proven ability to manage a finance function of comparative size and complexity

Excellent verbal and written communicator, inspiring trust and confidence at all levels

Excellent customer service attitude and ability to find/create commercial solutions

Strong problem solving and decision making skills

High personal standards in terms of integrity / trust

Effective planning and time management skills

Strong negotiation and persuasion skills

Desired skills and experience

Leadership experience in a finance shared service environment

Proven process improvement and/or change management experience on a substantial scale

Proven experience in Accounts Payable and/or client trust accounts

Previous experience of managing and developing remote teams

Experience in utilisation of Lean Six Sigma methodology

A strong understanding of a law firm or other professional services environment

Strong working knowledge of VAT and/or GST

Background checks:

In order to comply with regulatory and client requirements, Ashurst will undertake appropriate vetting of staff. When applicants accept a job offer, Ashurst, alongside a specialist provider, will undertake professional verification and background checks. These checks are only undertaken with consent, and in accordance with our legal and regulatory obligations.

Additional Documents

Head of Finance Operations JD

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Company info

Ashurst LLP.
Website : https://www.ashurst.com/