Overview
A leading law firm is currently looking to appoint a Working Capital Controller to join its Hong Kong office.
The Finance team, led by the CFO of Hong Kong, aims in producing high quality advice and relevant information to decision makers and stakeholders, building relationship with Partners, ensuring compliance with regulations and deliver services efficiently.
Key Responsibilities
Provide Support to the Partners, stakeholders and the finance team in Hong Kong:
- Work as a member of the Working Capital Team in Hong Kong, focus on management of the financial elements of matter lifecycle. Including matter inception, billing, collections, profitability analysis and other related reporting and activities
- Partner relationships and acting as a commercial advisor to the business
- Overseeing the credit control function, hands on responsibility for managing , prioritising, and reducing the locked up days
Working Capital Control
- Prepare monthly billing and collection forecasts and manage end-to-end working capital cycle for Partners and/or practice groups, inclusive of reviewing WIP, bill preparation, bill processing and collection
- Monitor aging balances and support bad debt provision estimation
- Manage end-to-end matter and client financial lifecycle, suggests improvement to enhance the quality of service and seek efficiencies
- Contribute to the annual audit process by providing samples and information in relation to WIP and debtor balances and anything related that is necessary for local fiscal year end processes
- Managing rates within 3E and working with partners to ensure the matters are set up correctly and the client finance related requirements are fully understood by reviewing the client contracts
- Involve in the Matter Inception work flow process, overall ownership of completion to ensure rate agreements are reviewed in a timely manner and offering assistance throughout the client rate negotiations
- Oversee the E-Billing process, coordinate invoice submissions with e-billing team, ensuring all issues are being followed-up and resolved promptly
- Manage the process of client on-boarding, liaise with on-boarding teams and provide all required documentation and fee earners’ details and their respective rates
- Manage Daily Paid Receipts from bank checking, posting payments to reporting
- Vendor setup; where the working capital controller would assist in on-boarding the firm as new clients’ vendor in order to properly process payments of invoices, by providing documentation like bank reference letter, copies of business registration, supplier form etc. as required by the client
- Actively monitor client money; where the working capital controller would constantly review clients’ money with the matter Partner, and provide updates on the balances, seek instructions from the matter Partner on applying clients’ money towards bills and/or returning any excess amount to the client when necessary
- Advise on billing and collection technical tax related matters – often cross border – seek assistance or advice from others
- Provide detailed financial information in support of bills e.g. hourly schedules, disbursements and narrative breakdowns. Prepare clients’ detailed billing schedules as requested.
- Provide training to Legal PA’s for bill and time narrative completion in 3E and support them going forward
- Liaise with Working Capital Controllers across the network on cross unit matters and billings
Client, commercial and relationships
- Use and promote the Pricing and Profitability Models, provide appropriate support and assistance to partners and working capital manager (WCM) on pricing of matters and reporting on matter profitability
- Understand local and global client rate agreements, support the WCM in other offices on global / regional client rate negotiations
- Regular meetings with partners to review the working capital on their current matters.
- Comprehensive follow-up of action items, such as time transfer, time write off, disbursements, queries etc.
- Deal with enquiries from clients, partners and fee earners relating to financial aspects of client matters.
- Develop and maintain relationships with finance contacts at key clients to ensure prompt and efficient processing of bills and collection of cash.
- Develop close relationships with BD teams across the network and provide financial support.
Key Relationships
- Hong Kong Partners
- Hong Kong CFO and the finance team
- Finance staffs firm wide- not withstanding to FSG, EBT, Tax Team, Pricing Team
- Other support professionals
Skills, Knowledge & Experience
- Three to five years or more experience in a credit control management role in a leading company, preferably professional services type environment or B2B in a complex billing environment
- Ability to influence Partners and stakeholders for effective and efficient decision making, esp. prompting actions from parties, both internally and externally, in driving positive impact and progress at all stages of the matter and contract to cash cycle
- Excellent communicator; able to explain complex issues to both financial and non-financial stakeholders
- Result driven; having a proactive, goal orientated approach to decision making
- Outstanding interpersonal skills and inquisitive
- Bachelor’s degree in a relevant discipline
- Strong technical skills including work knowledge in Excel and Word
- Experience with Elite 3E is a distinct advantage but not essential.
- Excellent written, oral and presentation skills in English, Cantonese and Mandarin
