Partnership Accountant

One of my top law firm clients are looking a forward-thinking Partner Matters Accountant to join their London office.

The role deals mainly with the partners of the firm's international LLP, of which there are approximately 400. The role primarily encompasses responsibility for payments to partners, accounting for various partner-related transactions, as well as responsibility in other non-accounting areas relating to the partners' personal financial interests in the firm.

Key Responsibilities / Accountabilities for the Partner Matters Accountant include:

• Ownership of the monthly drawings, quarterly distribution, and bi-annual bonus payment processes, including calculation of amounts due to partners, accurate collection of disbursements from partners, and ensuring accurate and timely sending of statements to individual partners.
• Ownership of the bank reconciliation process for all partner-related bank accounts.
• Maintain complete and accurate data in respect of partner remuneration, including lateral hires, retirees, part-time work arrangements, and guarantees.
• Attend meetings with joining and retiring partners, as well as ad hoc meetings with current partners, to explain the partner compensation process and answer partners' questions.
• Transaction entry, reconciliation, and review of all accounts in the firm's finance system relating to Partner Matters.
• Assist the Taxation Team with recording tax transactions (including tax payments, tax provisions, external advisers' fees, etc.) in Elite 3E as required.
• Work with the Financial Accountants and overseas offices to ensure completeness and accuracy of all the above, ensuring that errors/omissions are identified, corrected, and that reoccurrence is minimized.
• Attend to queries from the partners and third parties as required in relation to all the above.
• Ongoing review, simplification, and documentation of the department's procedures in relation to all the above.
• Maintain complete and accurate data in respect of capital, including maintaining the register of capital subscribed by Partners and associated capital loan details, assisting as required in the process for collecting capital subscriptions, collection of capital from new Partners, and repayment of capital/capital loan balances to retired Partners.
• Provide confirmation of individual Partners' earnings to third parties as required.
• Provide estimates of individual equity partner profit share and cashflow calculations on an ad-hoc basis.
• Accurate and timely maintenance of the Partner profile data.
• Provision and maintenance of partner life and disability insurance schedules to the insurance provider.
• Suggest improvements to key processes undertaken by the team.

To be successful in this Partner Matters Accountant role you must have -

• A proven ability to plan ahead is essential - the candidate will need to be able to work under pressure and to tight deadlines.
• Thorough and strong attention to detail, with an expectation to check their own work carefully and have others review it critically.
• Strong verbal and written communication skills, with the ability to communicate with colleagues, Partners, and third parties.
• Capable of dealing with sensitive personal data relating to Partners with tact and discretion, ensuring confidentiality is maintained.
• Accounting knowledge/skills (and an appetite to develop them).
• Good working knowledge of Microsoft Office, confident using Excel with linked spreadsheets and formulas such as Sumif and Vlookup.
• Working knowledge of Elite 3E and experience using a document management system is desirable but not essential.
• Ability to effectively manage own workload and proactive in assisting the team.
• Builds and maintains effective working relationships with colleagues and clients.

Qualifications and Training:

• Relevant accounting/bookkeeping experience ideally in a professional services organization.
• An accounting qualification is not a pre-requisite but would be beneficial.

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