Partnership Accounting Manager

Job description

We are currently recruiting for a Partnership Accounting Manager to join our Partner Affairs and Tax team in London.

Department purpose

The remit of the team is to support all aspects of the firms partnership accounting/partner finance function across the territories in which the firm operates. This includes the calculation and payment of partners profit share (drawings & distributions), the management of partnership capital and partnership capital loan, partners tax reserving and tax payments.

Role purpose

The Partnership Accounting Manager is a key member of the Partners Affairs & Tax (PAT) team and will be supported by one assistant. The primary responsibility of this role is the management of partnership capital and partnership capital funding together with managing relationships with the firms banks. The role will also provide support on the firms partner joiner/mover/retirement processes.

Role and responsibilities

Partnership Capital and Capital funding process including:

• Managing the annual capital call process.
• Arranging capital contributions/capital funding for new partner and capital loan repayments for retirees.
• Managing relationships with the banks and liaising with banks and legal adviser on capital loan documentation.
• Forecasting of bank facility limits.
• Responsible for the maintenance and reconciliation of partners capital GL accounts.
• Reconciliation and payment of the quarterly capital loan interest.

Contribute to the year end audit process particularly around capital, including:

• Liaison with auditors and responding on audit queries.
• Management and reconciliation of Capital disclosed in the firms Annual Report & Financial Statements
• Production of year end schedules including capital reconciliations, loan interest and interest mutualisation reconciliations/schedules.

Provide support on the Partner joiner, mover and retiree processes. This includes:

• Ensuring an effective and efficient joining and leaving process.
• Point of contact for Partners Matter Unit (PMU) and attendance at weekly meeting with the PMU if/when required.
• Preparation and review of cash flow projections for new & lateral partner hires and review of associated agreements.
• Preparation and review of partner retirement calculations and review of associated agreements.
• Processing payment to /correspondence with retiring partners in a timely manner.
• Processing of retirement journals for partners in line with the firms policies.
• Preparation of ad hoc management reports/cash flow projections to facilitate decision-making.

Other:

• Managing and developing an assistant
• Ongoing development and enhancement of the partner capital funding process.
• Support other areas within the Partner Finance team during busy periods and periods of absence.

Key requirements

• Excellent communication skills both oral and written.
• Ability to manage and develop junior members of the team to provide high level of client service in a global environment.
• Enthusiastic, dynamic, pro-active, ambitious, commitment to "getting the job done".
• Ability to assimilate large amounts of information and a good eye for detail.
• Strong numeracy and IT skills, including knowledge of Windows, Excel, and Word and the ability to adapt to using unfamiliar software packages. Particular emphasis is placed on experience of Excel.
• Strong time management skills, ability to multi-task, prioritise, manage processes, critically review and evaluate financial information.
• Ability to work as part of a wider team.
• Previous experience within a professional services function (desirable)
• Accounting qualification (ACCA or similar) desirable but not essential

Should you require additional support at any stage of the recruitment process due to a disability or a health condition, please do not hesitate to contact a member of our recruitment team who will work with you to provide any adjustments as required.

We are an equal opportunities recruiter and do not discriminate on the basis of race, colour, sex, religion, sexual orientation, national origin, disability, or any other protected characteristic.

We recognise that our people are our most valuable asset, which is reflected in the wide range of benefits that are available to our employees. Some of these benefits include: our occupational pension scheme, group income protection cover, private medical insurance, mental health resources and free apps, health and wellbeing services encompassing an onsite gym, wellbeing centre and GP service, emergency back-up care support, parental and special leave, holiday entitlement increasing with length of service, holiday trading, season ticket loans and online discounts and lifestyle management services.

We recognise the value of flexible working and embraces hybrid working, allowing our people to work from home up to 40% of their working time. We do however remain committed to working together in person for the remaining 60% of time so that we can learn, grow and succeed together.

Additional information - External

A&O Shearman is a new global industry-leading law firm, with nearly 50 offices in 29 countries worldwide. Our fluency in English law, US law, and the laws of the worlds most dynamic markets, enables us to provide unmatched insight and seamless delivery to clients. We work on challenging and important deals and disputes that have the potential to shape the future.

We offer exceptional opportunities for our people; opportunities to work for the worlds leading businesses; to transform the status quo, and to deliver your best work, helping you and your career to thrive, while delivering unparalleled outcomes for our clients.

Whether you're helping clients solve complex challenges, transforming the ways we manage our business, or ensuring the smooth-running of our operations, this is an environment where you can belong and excel. We provide first-rate training and development, we are committed to diversity, equity and inclusion and we provide support and ways of working that help you optimise your wellbeing.

What truly defines a career with us? We recruit the best and ask for the best of you. And together, we will redefine success.

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