Working Capital Manager

Job Description

Working Capital Manager position now available a Top 100 UK law firm heading up their Billing, Ebilling & Collections function. This is a unique role that will provide the successful person with lots of exciting project based work with the support for aHead of Credit & Head of Billing reporting into them.Responsibilities will include:

• Taking responsibility for the firms Working Capital Management and driving forward initiatives to reduce the firms lock-up. This will include the end-to-end billing process and credit control process. This is currently a key area of focus in the firm.
• Ensuring the team establish strong working relationships with all partners through regular review meetings to ensure that focus is maintained on timely billing and debt collection in order to meet agreed targets and billing timetables.
• Chairing the firms Finance Committee, which meets monthly to review the firms exposure, set credit limits for clients, and review any process changes that impact working capital management.
• Ensuring that regular billing patterns, and where possible monthly billing cycles, are established taking care that any special billing arrangements are observed.
• Ensuring use of the firms e-billing hub is maximised and e-billing polices are adhered to.
• Working with the firms external debt collection agency to collect problematic debt.
• Accepting responsibility and taking ownership of operational issues, finding practical solutions and escalating problems where appropriate. This will involve liaison with the finance systems team.
• Involvement in the firms quarterly reporting routines, including reporting progress against the firms strategic objectives and lock-up targets.
• Setting charge out rates including leading the annual review process and review of historic rates.
• All aspects of team management, including appraisals, recruitment and encouraging the team to develop within their roles, supported by the Credit Control Manager and Billing Manager.
• Reviewing the firms billing workflow, this was rolled out to the firm in October 2021 and we have applied a cyclical change review process to ensure that maximum benefits are realised from the new system.
• Project Anchor- to map out and review the matter lifecycle from inception, through billing and collection. Process improvements are being reviewed and rolled out across the firm.
• Introduction of the new Intercompany billing module in Elite.
• 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.
• Assistance with pricing with the intention of setting up a pricing team.
• Assistance with a review of key client relationships and the profitability of clients and sectors.
• Streamlining reports produced to assist with financial decisions related to lock up and financial management.

Experienced needed for the role includes:

• Solid Credit / Billing/ Revenue experience in a law firm as a senior level
• Evidence of managing and leading on projects
• Experience leading relationships with senior stakeholders and have the gravitas to chair meetings with board/ committee members.

Specifics:

• Salary £85k with possible upside to £90k for someone more experienced
• Up to 10% bonus based on personal performance as well as a firm annual bonus
• Flexible working pattern - Tuesday is the anchor day with one more day ideally office based
• Will require occasional travel to their other UK offices
• Stunning new offices with views of the Thames

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