Finance Business Partner

The role

The Finance Business Partner role involves collaborating with fee earners and key stakeholders to ensure the achievement of departmental strategic and financial goals while maintaining strong financial hygiene practices across the business. It offers the opportunity to play a critical role in driving financial success and operational improvements across the firm.

The role sits within the Finance department, with a dotted reporting line to Heads of Departments (HoDs) and the Head of Operations (HoOps) and will collaborate across various teams, including other areas of Business Services to drive financial and operational performance. The role includes management of the Revenue Controllers.

You will be an integral part of driving the success of the respective departments forward and will be tasked with effecting demonstrable change in working practices and performance by promoting a best-in-class philosophy and strategic financial decision making.

Main responsibilities

Pricing & profitability

• Collaborate with the Business Development (BD) team and fee earners to assist with fee estimates for client pitches, ensuring understanding of profitability implications within the fee earning groups
• Review existing client relationships and collaborate with partners to suggest improved fee structures aimed at enhancing profitability
• Conduct detailed profitability analysis of our clients by work type, team and department and discuss findings with partners, to help identify BD opportunities.

Revenue growth

• Work with fee earners to maximise billing, regularly reviewing work in progress (WIP) and obtaining pledge estimates where necessary
• For significant new matters (above £100k), work with the Revenue Controllers to review the fee structure and assist fee earners with matter management. This involves monitoring WIP against the original estimate and raising to fee earners when scope and/or fee discussions are required with the client.
• Identify and monitor at risk WIP to prevent unnecessary write-offs, leveraging dashboards for real time tracking
• Assist the Revenue Controllers with reviewing commercial fee arrangement (CFAs) and deferred billing arrangement (DBA) proposals to ensure they are commercially viable and assist fee earners with the approval process
• Work with the Revenue Controllers to provide a monthly review of CFA's and DBA's to the Head of Finance and HoD.
• Input to the annual budget and quarterly reforecasting processes to set fees and headcount to deliver a Gross Profit Margin as per the business plan
• Regularly compile financial metrics required by HoDs to monitor and manage gross profit and contribution in order to reach their targets. Assist HoDs and Heads of Teams (HoTs) to understand their financial performance, identifying any issues and supporting them to resolve these and deliver exceptional performance
• Analyse results from the biyearly WIP write off and annual FRS5 valuation exercises, identifying areas to improve recoverability and work with HoOps and HoDs to implement new processes to reduce write offs.
• Assist in streamlining the annual rate-setting process, including development of team/client specific rates and review all client/matter specific rates
• Brief HoDs and HoOps on a weekly and monthly basis

Smart Working

• Collaborate with fee earners to reduce lock up days to a minimum of 120, address WIP and debt concerns in conjunction with the Credit Control team and raise issues with the Head of Finance for next steps
• Investigate and resolve financial queries promptly (within 2 working days)
• Manage ad-hoc finance-related projects, from ideation through to requirements gathering, proposal, design and delivery
• Assess current processes and reporting practices, identifying opportunities for greater efficiencies
• Support practice management system upgrade projects, including testing, training and documentation.

People Management & development

• Effectively manage Revenue Controllers, conducting performance reviews and ensuring their positive personal development
• Delegate tasks effectively to allow for team efficiency and good workflow management

Risk & Quality

• Oversee the handover process for files from fee earners leaving the firm, ensuring proper reassignment of Matter Partners and Client Relationship Partner (CRP) roles and the documentation of WIP, debt and residual balances.
• Follow up with teams about residual balances and progress made to clear balances
• Provide training on finance fundamentals to raise financial awareness and understanding across the firm

About you

You will be able to demonstrate:

• Proven relevant experience in a Finance Business Partner or similar role within a professional services environment
• Experience as either a full or part Qualified accountant (CIMA, ACA, ACCA)
• Strong financial acumen and ability to interpret data and communicate complex financial data
• Ability to collaborate effectively with a wide range of senior stakeholders, including fee earners, business services functions and senior management
• Excellent problem-solving skills with a proactive approach to identifying financial risks and opportunities
• Previous experience advising fee earners on pricing strategies and profitability management in a professional services environment
• Proven ability to manage and lead teams effectively, fostering development and achieving performance goals
• High level of attention to detail and accuracy, with the ability to prioritise multiple tasks and meet tight deadlines
• Excellent communication skills, both written and verbal, with the ability to present financial information to non-financial stakeholders

Please note that we are not accepting applications via agencies for this role at this time. Before sharing any named candidate CVs, please contact your recruitment representative. If any named CVs are sent from agencies without approval from our recruitment team, they will not be deemed valid introductions, and no agency fee will be paid.

About Us

With almost 200 lawyers in one location, we ensure our clients have the right team to help them get from where they are to where they want to be. We advise major corporates and institutions as well as entrepreneurial, ambitious enterprises which are often privately or family owned, or private equity backed. As well as our significant business law capability, we are one of only a few London-based law firms with a large private wealth offering. Our clients find our straightforward approach a compelling alternative to larger, less personal firms.

Whether you are an ambitious and talented individual wanting to hit the ground running from day one, or an established professional looking for a new opportunity, Howard Kennedy is the firm where you can really make it happen.

We have earned a strong reputation for our exceptional and uniquely talented people who between them deliver outstanding results for clients. In a firm of our size, our strong team dynamic creates a thriving culture of creativity and entrepreneurialism. Howard Kennedy is a pragmatic and non-hierarchical environment where success is shared, and you are proactively encouraged to thrive at your own pace.

Our distinctive culture is built on fairness and respect. Guided by the firm’s values of talk straight, think smart and be yourself, everyone in the firm holds equal value, and everyone plays their role in supporting, encouraging and inspiring colleagues to do their best work.

At the same time, we recognise and reward individualism, celebrating the diversity of our people and supporting them to grow their practice and drive their own career advancement.

As well as client work, there is opportunity to broaden your horizons at the firm with fulfilling pro bono and charity projects. We have a regular social calendar full of wellbeing activities, charitable and social events too.

Benefits

• Competitive salary
• 25 days annual holiday
• Permanent Health Insurance
• Life Assurance
• Interest free Season Ticket Loan
• Private Healthcare
• Pension Scheme
• Staff Introductory Scheme
• Employee Assistance Programme