Working Capital Senior Manager at A&O Shearman in New York, New York

Job Description:

A&O Shearman is a new global industry-leading law firm, with 48 offices in 28 countries worldwide. Our fluency in English law, US law, and the laws of the world's most dynamic markets, enables us to provide unmatched insight and seamless delivery to clients. We work on challenging and important deals and disputes that have the potential to shape the future.

We offer exceptional opportunities for our people; opportunities to work for the world's leading businesses; to transform the status quo, and to deliver your best work, helping you and your career to thrive, while delivering unparalleled outcomes for our clients.

Whether you're helping clients solve complex challenges, transforming the ways we manage our business, or ensuring the smooth-running of our operations, this is an environment where you can belong and excel. We provide first-rate training and development, we are committed to an inclusive environment, and we provide support and ways of working that help you optimize your wellbeing.

What truly defines a career with us? We recruit the best and ask for the best of you. And together, we will redefine success.



DEPARTMENT PURPOSE

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

• Pro-actively champion best practice in working capital management and actively embed within key, large client relationships and/or individual client matters to enhance matter profitability.


• Work closely with the Working Capital Controller team who manage the entire US working capital life cycle from time-recording to cash collection, and ensure a commercially sound service.


• Ensure US Partners and department heads are receiving a seamless service across all aspects of the working capital life cycle.


• Improve profitability through minimizing write-offs (arising at the point of bill, through careful monitoring of worked value vs. budgets, and through collection strategy structures) to maximize matter recovery.


• The focus of the role is on the Americas business, although the team is also responsible for monitoring and managing a small number of global clients.

• Americas CFO


• Americas Head of Pricing and Commercial Management


• Americas Pricing and Commercial Director


• Americas Senior Manager of Working Capital


• Americas Financial Controller


• Working Capital Controllers (WCCs) and Working Capital Managers globally


• Regional Partner Practice group heads or department heads


• Relationship Partners, Billing Partners, Matter Managers and fee-earners globally


• Shared Service Centre (SSC) teams in Belfast

• Play a key role in evaluating monthly inventory position to assess our ability to achieve budgeted billing and collection targets.


• Manage the region's client revenue and net investment balances (WIP and Debts), meet with partners to discuss and deeply understand increasing client exposures.


• Acquire a deep understanding of the various types of transactions and cases across regional partner books and initiate conversations to ascertain the prospects and timing of billing and collection.


• Closely monitor the financial risk buildup on large matters and strategize with partners to implement plans to avoid write-offs and maximize recoveries.


• Review billing write-off narratives before submission to the write off committee and ensure any material amounts are investigated and escalated.


• Play a lead role in the annual WIP valuation exercise for the financial audit.

• Project manage a selection of clients and/or matters with a "Legal Project Management" lens to monitor effective legal staffing, and control margins through the assessment of time and cost write-offs, and support proactive measures to increase margins where possible.


• Analyze current billing and profitability information and other items of a complex nature for reporting and problem-solving including calculating PPP analysis of individual matters.


• Prepare complex budgets for matter partner's review prior to accepting new engagements.


• Delivery and design of reporting metrics to highlight improvements on days to bill and collect and demonstrated reductions on discretionary write-downs.


• Schedule practice group meetings to review matter and client performance.


• Deliver ongoing training to associates and counsel on best practices on matter management.

• Act as business partner and trusted advisor to Americas partners and other senior decision makers.


• Maintain a close and collaborative relationship with all Working Capital Controllers and the US Pricing team.


• Report on progress and escalate areas of concern to Head of Pricing and Commercial Management, CFO and Practice group/Department heads.


• Establish good working relationships with external clients to facilitate the resolution of issues that may arise.


• Pre-empt client queries by applying knowledge from prior engagements to identify and mitigate potential risks.


• Develop good relationships with partners, counsel and associates and support Finance practice managers with difficult or complex partner requests.

• Provide leadership, seek opportunities for growth, and provide senior support across the working teams.


• Help ensure team workload is appropriately balanced and partners are receiving appropriate support.


• Assist the team to improve their technical abilities and soft skills to continually increase value to the business.

• At least 10 years' experience in a management and/or operational role in a leading company / firm with profit center responsibility. Experience of a partnership environment and working in a matrix organization is advantageous.


• A very credible individual with gravitas, resilience and high level of intellectual ability who is able to develop effective working relationships with the ability to influence at all levels.


• 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.


• Ability to work under pressure in a target-driven and high-performance environment.


• Strong team management and development skills


• Have an understanding of working cross-culturally


• Excellent analytical and numeracy skills are a prerequisite for the role, plus the individual will need to adopt a big-picture approach and appreciate the commercial realities of a dynamic, fast-moving practice.


• Advanced level experience in Microsoft Office with ability to create analysis to "tell the story" with numbers.


• Excellent attention to detail, prioritization and organizational skills.


• Experience with 3E is an advantage but not essential.


• Occasional travel may be required.