Our client is a Michigan-based litigation law firm with a successful history of handling complex, dynamic trial-court and appellate matters, both nationally and internationally. It has provided highly effective and innovative counsel to hundreds of clients in dozens of industries. A firm proud of its successful record of achievement and distinct competitive advantage, it continues to be recognized at the forefront of the legal profession. Truly valuing client relationships, the firm’s accumulated intellectual prowess, service, quality, integrity, and dedication makes it esteemed for its consistency of exemplary legal counsel and high-integrity client relationships.
As an active member of the Executive Leadership Team, the Chief Financial Officer will play an integral part in continuing the firm’s growth and profitability. She or he will be responsible for all the firm’s financial reporting, processes, controls and matters including accounting, billing, banking, taxation, auditing, budgeting, forecasting and variance analyses, including firm profitability analyses. This CFO must promote the firm’s financial creditability and build confidence with its staff, paralegals, shareholders, attorneys and clients.
This position reports to the Founding Member and will have three (3) direct reports
The ideal candidate will be passionate about the mission at hand and an interactive participant that will help guide this firm into the future. In alignment with the firm’s culture, the candidate will be humble, respectful, hands-on, honest, intelligent, cooperative and responsible (“owns it”). The CFO’s responsibilities will be broad and include owning all accounting and financial process, coaching and mentoring a collaborative team, as well as helping to build a roadmap for success.
Summary of Key Responsibilities:
The CFO will be an active collaborator with the firm’s Executive Leadership Team and other attorneys by providing consultative support to departmental planning initiatives through meaningful accounting and financial management, analyses and recommendations. The CFO will enable attorneys to do what they do best by being a service-oriented liaison and ensuring the financial management of the firm is aligned, supportive and interdependent.
• Responsible for financial management in a fast-paced environment including developing financial budgets and budget policies and procedures.
• Leads the management, development and implementation of finance, accounting, billing and auditing procedures; financial reporting shall include analyses of unbilled time and disbursements, accounts receivable and payable, cash flow, balance sheets, statement of operations, capital expenditures and all other reports as deemed necessary by the firm including periodic preparation of financial statements on the accrual basis.
• Leads and manages the accounting and billing functions for the entire firm.
• Participates in the development & implementation of strategic business, financial and/or operational plans, projects, programs and systems.
• Establishes and implements short and long-range financial departmental goals, objectives and policies.
• Coordinates the preparation of analyses and information reports pertaining to special programs and initiatives, i.e. evaluation of alternative-fee arrangements, billing, and capitalization options.
• Clear communication and liaison efforts between finance and operations; proactively bring strategic finance thought partnership through best-in-class financial expertise to ongoing tactical and strategic business initiatives as well as insights from industry.
• Negotiation of major vendor contracts, i.e. outsourcing, equipment and other services.
• Interacts with other managers to provide consultative support to planning initiatives through financial and management information analyses, reports and recommendations.
• Assesses and manages banking relationships and other capital sources.
• Creates, coordinates and evaluates the financial programs and supporting information systems of the firm to include budgeting, tax planning and conservation of assets.
• Involved in general compliance of the firm with other operational and accounting personnel.
• Treasury management including accounts receivable, cash management and capital expenditures.
• Approves and coordinates changes and improvements in financial and management information systems for the firm.
• Ensures compliance with local, state, and federal budgetary reporting requirements.
• Oversees the approval and processing of revenue, expenditures and department budgets.
• In conjunction with the Executive Leadership Team, develops monthly and annual budgets for revenue, capital and operating expenditures, personnel, productivity and cash flow.
• Passionate about coaching and mentoring a team. Effective at setting, evaluating and inspiring individual and team goals that develop people to promote a result driven culture, a proven collaborator, able to leverage individual strengths to provide value to the entire team.
• Set financial and/or performance goals within the finance department that are aggressive, achievable and tied to long-term strategic goals and monitor department performance against performance goals to ensure that progress is being made within the organization.
• Ad hoc projects as assigned.
Experience in strategic planning and execution.
• Outstanding knowledge and understanding of GAAP and strong financial acumen and related analyses skills, including P&L, budget planning and creation, accounting, cost-control principles and the ability to create accurate revenue-forecasting models.
• Ability to analyze financial data and prepare financial reports, statements and projections, including advanced use of Excel.
• Ability to develop and communicate a financial strategy and supporting budget plan to non-financial leadership.
• Work requires exceptional professional written, verbal communication and interpersonal skills.
• Ability to motivate teams to produce quality materials within tight timeframes and simultaneously manage several projects.
• High Achiever who is: pragmatic, dedicated, passionate, organized, humble, possesses a sense of humor, creative problem-solver, willing to get the job done and adaptable to a cohesive team.
• Must be resourceful and creative, possessing the ability to work with and adapt to all kinds of people. Must be patient, persistent and persuasive. Strong work ethic, e.g. “roll-up your sleeves” leader/manager.
• Displays stamina, energy and is committed to personal growth and development for self and others.
• Knowledge of automated financial and accounting reporting systems including Juris and eBilling within a plethora of non-conforming systems that are independently established by client requirements.
• Experience with federal and state financial regulations.
• A Bachelor’s Degree in Finance, Economics or Accounting is required.
• A Master’s Degree in Business, Finance or Management and a CPA designation is highly preferred.
• Minimum of 15-years of experience in senior-level financial or accounting management.
• Preference for candidates with professional or other complex service firm experience.