The firm
Goodman Ray a niche family law firm comprising 5 partners (3 full share and 2 fixed share), a Finance Director, a Practice Manager, 17 solicitors (including consultants), 13 paralegals/trainees and a support and admin team (of 5 people mixed across finance and admins functions). Our income stream is from a mix of private clients and legal aid. We have a contract with the Legal Aid Agency to provide legal services to those that qualify. We have an outsourced bookkeeping team.
Goodman Ray has a Leadership Team that meets monthly comprising the 5 partners, the Finance Director and the Practice Manager.
In a highly competitive environment, the success of our business depends on the quality of our people. We therefore invest in attracting the most talented people and help them to fulfil their potential. It is only by doing this that we can stay at the top of our game.
With an agenda for growth, we work in an open, dynamic environment with little hierarchy where our people are encouraged to take on as much responsibility as they are ready to whilst receiving the support they need to develop both their professional and their commercial skills.
As a relatively small firm we expect all staff members to act as a team – meaning that we all assist our team members with tasks where appropriate.
The role
We are seeking a Finance Director to provide strategic commercial and financial advice; to support the Leadership Team on both a longer term commercial and on a day-to-day basis, and run the firms Finance function.
The Finance Director will report directly to all the Partners. The FD will monitor and directly influence the performance of fee earners at all levels. The Finance Director must be able to take on the role of COFA and will deliver finance support to the firm generally, working in close liaison with the Practice Manager.
Knowledge, skills and experience
Applicants will be a qualified accountant and experienced at Board level within a commercial professional services partnership environment (ideally with a working knowledge and familiarity with the Solicitors Accounts Rules). Experience of managing a Legal Aid Contract is desirable but not essential.
The successful candidates will need a can-do attitude and a proven record of working with teams for this hands-on role and have
- Strategic awareness of business and commercial issues and the disciplines of Finance, BD and HR
- Ability to work effectively under pressure and often to very tight deadlines
- Sophisticated communication skills including listening, presenting and influencing. Gaining respect and confidence across the firm
- Will take an active role in discussions concerning the strategic direction of the office and ability to challenge assumptions made and propose solutions
- A flexible approach to problem solving, with sound judgment and decision-making abilities.
Responsibilities
- Contribute to the strategic thinking of the Leadership Team to help drive growth and profitability, enhance productivity, and assist with strategic planning.
- Providing a robust financial overview and analysis of the firm’s current and forecast financial health within the commercial context in the form of monthly management accounts with supporting information.
- The annual budget cycle and production of budgets, including maintaining and advising the partnership in respect of the firm/departmental budgets on an ongoing basis.
- Analysis and interpretation of business performance against KPIs to spot trends & issues
- Managing cash flow by monitoring expenditure, supervising billing and credit control,
- Working Capital control and all bank facilities
- Managing the Finance team of three FTE and the outsourced book keeping team
- Producing statutory financial statements suitable for audit
- Management of the annual SAR audit & accounts review and ensuring that any advice received is implemented.
- Maintaining and developing efficient financial processes and procedures to ensure best practice and accounting controls.
- Develop the use of the case management system, specifically the financial information produced by it to ensure that the fee earners and partners have the financial information they need.
- Working with the Practice Manager and costing team to efficiently operate the financial aspects of the firm’s Legal Aid contract
- Establishing and maintaining external relationships with banks, auditors and other providers of finance to review contracts and providers annually.
- Manage the renewal process of the Professional Indemnity Insurance and Practising Certificates.
- Attend leadership team meetings and provide strategic financial advice to any and all Leadership Team (LT) decisions.
- As COFA, reporting all breaches, remedies, information to the allocated senior partner and the Leadership Team at least monthly and immediately if the breach is serious.
- Sole responsibility for the bookkeeping & accounts of a Property Owning Partnership.
The above is not an exhausted schedule of duties.
Goodman Ray operate a Diversity & Equality Policy & welcome applications from everyone regardless of gender, age, disability, religion, sexual orientation, and cultural identity.
The role is full time and office based at 9 Gough Square with the option to work 1 day per week from home.
Please send CV and covering letter to Trudi Featherstone at trudifeatherstone@goodmanray.com and Louise Payne at louisepayne@goodmanray.com.
