Job Description
Accountancy Recruit is partnering with a personal and commercial law firm in the recruitment of a Financial Controller based in Cheltenham. The role of the Financial Controller is crucial in managing the company’s financial health, ensuring regulatory compliance, and supporting decision-making.
The Financial Controller will oversee financial operations, maintain accurate reporting, and lead a finance team to ensure efficiency and accuracy in financial management: providing support to all of the departments, across the business. You will be joining a collaborative and supportive environment: a culture that values individuals in a busy, but relaxed environment.
Responsibilities and Duties - Leadership
* Setting clear goals and expectations.
* Providing guidance and support, i.e., mentoring, constructive feedback and helping team members develop their skills and overcome challenges.
* Managing performance & development by conducting regular performance reviews and identifying opportunities for development and growth.
* Driving continuous improvement, encouraging process enhancements and adaptability to help the team grown and succeed in a dynamic work environment.
Daily Activities
* Cashflow inputting & monitoring.
* Working with the External Accountants.
* Bank reconciliation – Client/Office/Limited/LLP.
* Posting - standing orders/direct debits paid and received.
* Banking - all cash/cheques received.
* Cheque requests – processing requests for Client and Office.
* Invoices and financial statements – post and check before submission to client.
* Staff expenses – process requests.
* Client interest – calculate.
* CHAPS/BACS/Fast Pay/International Money Movers – set up.
* Credit card payments.
* WIP – process write-offs.
* Purchase Ledger – post invoices.
* Land Registry – invoices due 2 days after searches requested.
* Clients – take calls from clients with accounts queries, card payments etc.
* Transfer of costs.
Weekly Activities
* Petty cash – reconcile and post.
* Bills – reconcile outstanding bills list with bill file.
* Directors’ expenses.
* Unpaid disbursements – check / liaise with fee earners.
* Client ledger – check balances.
* Office ledger – check balances / liaise with fee earner (Anticipated Disbursements).
* Thirdfort/Xpress Legal.
Monthly Activities
* Prepare management accounts and information packs.
* Client Deposit Accounts – check statements from Lloyds.
* Deposit Accounts – check statements as they arrive.
* Deposit Account balances – apply interest.
* Deposit Accounts – update open and closed spreadsheet.
* Purchase Ledger – pay bi-monthly after Director/Practice Manager authorisation.
* Directors’ business charge cards.
* District Judge expenses (Rachel Stewart).
* WIP – ensure all fee earners submit their WIP for updating.
Annual Activities
* Journal Entries – from Accountants.
* Equity Directors Car Tax/AA.
Month End and Year End Activities and Reports
* Bank reconciliation reports.
* Full matter balance listings.
* Trial balance (combined and separately) for Limited and LLP entities.
* Aged bills by fee earner reports.
* Matters opened by fee earner report.
* Balance sheet (year).
* Matter balance summary.
* Deposit balance report.
* Fee earner reports.
* Develop reporting on profit and loss per department.
* Develop reporting on conversion of chargeable hours to billing and time from doing the work to receiving payment by department.
Compliance
* Comply with the Company’s compliance, anti-money laundering and other regulatory processes and policies.
* Keep yourself up to date with all changes in the Company’s compliance procedures.
Client Care
* Be involved in the Company’s commitment to client care and ensure confidentiality.
Training
* Be proactive in your own training, requesting explanation and further information or training as needed.
* Attend in-house training, including webinars, as required and encourage and support team development.
Requirements & Skills
* Fully Qualified: ACA, CIMA, ACCA, AAT or Qualified by Experience
* Strong understanding of financial reporting, budgeting, forecasting, analysis and cash flow management
* Proficiency in accounting principles, financial analysis, and risk management
* Knowledge of taxation, VAT, and compliance with accounting rules in a regulated sector
* Have a good level of commercial competence and able to analyse financial data to suggest improvements in profitability by considering pricing/billing profiles/team structure/work type etc.
* Ability to work closely with external partners and regulatory bodies
* Strong leadership and mentoring skills to manage and develop the finance team
* Ability to delegate tasks, set clear objectives and ensure accountability within the finance function
* Ability to provide financial insights and recommendations to practice manager and partners
* High accuracy in financial reporting, reconciliations, compliance monitoring
* Strong problem-solving and analytical skills to interpret financial data and identify trends and risks
* Proficient in the use of MS Excel and finance and practice software
* Strong verbal and written communication to present financial information to partners and non-financial staff
* Strong negotiation skills, ability to negotiate with vendors, auditors, and regulatory bodies.
Remuneration
* Salary £50 – 60,000 pa
* Hours: 37.5-hour week. Core hours – 9.00 am to 5.30 pm
* Holidays: 25 days plus bank holidays (Discretionary days at Christmas)
* Pension: Auto Enrolment
* Private Medical Health Insurance
* Death in Service x 3
* Study support & career development
* Involvement in the charity of the year support
* Member of the firm’s social committee activities
* Initially office based – 1 day per week hybrid to follow probation