Head of Working Capital
A unique opportunity as the Head of Working Capital has been created in a top, international law firm. You will be working closely with all the practice groups to help reduce Lockup Days and to ensure that the Revenue stream is running as efficiently and smoothly as possible. You will have a large team reporting into you which would be made up of Working Capital Controllers and Managers.
As the Head of Working Capital one real focus of your role will be building quality relationships around the whole firm which includes Partners / fee earners, Business Managers, Chief Operating Officers / CFO, panel managers, Working Capital Controllers and the global Finance Team (including Pricing, Financial Systems Group and Taxation). You will also develop and maintain relationships with senior finance contacts with key clients.
Some of your responsibilities at the Head of Working Capital include:
- Participate in setting the strategy for the function, operational decision making and influencing discussions.
- Ensure the London team is meeting and participating in Group objectives, initiatives, upholding best practice and acting as leader in their areas.
- Provide strong leadership and have full responsibility for the development and performance of the Working Capital team in London.
- Look for opportunities to improve and instil the Firm's values in the team.
- Identify and jointly develop solutions for service enhancements to reduce lock up days.
- Supervise the development of the monthly billing forecast prepared by Working Capital Managers.
- Review monthly bad debt provision and agree next steps in advance of ledger close to ensure it is appropriate.
- Oversee and monitor the effectiveness of client billing, un-ticked bills, collection and volume discount processes and initiate improvements to enhance the quality of service.
To be successful in this Head of Working Capital position you must have significant managerial experience within a Working Capital environment. You must have a commercial outlook, whilst having the drive, enthusiasm and tenacity to make change and drive forward the revenue process.
Due to the nature of this role, it is essential that you have strong communication skills as you will have huge exposure throughout the whole firm and with external clients. You must be able to influence at the highest level as a credible, fast-thinking, collaborative and proactive individual.
You must demonstrate strong leadership and people management skills and experienced in recruitment. If you have had experience of using Elite 3E then that is a huge advantage.
You must be results driven; having a proactive, goal orientated approach to decision making.