Head of Finance Operations - Glasgow, United Kingdom - Ashurst LLP

Ashurst LLP

Verified Company

Glasgow, United Kingdom

1 week ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

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

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: