A&O Shearman is a new global industry-leading law firm, with 48 offices in 29 countries worldwide. Our fluency in English law, US law, and the laws of the world’s 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 world’s 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.
Department purpose
The Finance team, led by the CFO of Hong Kong, aims in producing high quality advice and relevant information to decision makers and stakeholders, building relationship with Partners, ensuring compliance with regulations and deliver our services efficiently.
Role purpose
Provide Support to the Partners, stakeholders and the finance team in Hong Kong :
- Work as a member of the Working Capital Team in Hong Kong, focus on management of the financial elements of matter lifecycle. Including matter inception, billing, collections, profitability analysis and other related reporting and activities
- Partner relationships and acting as a commercial advisor to the business
- Overseeing the credit control function, hands on responsibility for managing , prioritising, and reducing the locked up days
Key relationships
Hong Kong PartnersHong Kong CFO and the finance teamFinance staffs firm wide- not withstanding to FSG, EBT, Tax Team, Pricing TeamOther support professionalsRole and responsibilities
Working Capital Control
Prepare monthly billing and collection forecasts and manage end-to-end working capital cycle for Partners and / or practice groups, inclusive of reviewing WIP, bill preparation, bill processing and collectionMonitor aging balances and support bad debt provision estimationManage end-to-end matter and client financial lifecycle, suggests improvement to enhance the quality of service and seek efficienciesContribute to the annual audit process by providing samples and information in relation to WIP and debtor balances and anything related that is necessary for local fiscal year end processesManaging rates within 3E and working with partners to ensure the matters are set up correctly and the client finance related requirements are fully understood by reviewing the client contractsInvolve in the Matter Inception work flow process, overall ownership of completion to ensure rate agreements are reviewed in a timely manner and offering assistance throughout the client rate negotiationsOversee the E-Billing process, coordinate invoice submissions with e-billing team, ensuring all issues are being followed-up and resolved promptlyManage the process of client on-boarding, liaise with A&O on-boarding team and provide all required documentation and fee earners’ details and their respective ratesManage Daily Paid Receipts from bank checking, posting payments to reportingVendor setup; where the working capital controller would assist in on-boarding A&O as new clients’ vendor in order to properly process payments of A&O invoices, by providing documentation like bank reference letter, copies of business registration, supplier form etc. as required by the clientActively monitor client money; where the working capital controller would constantly review clients’ money with the matter Partner, and provide updates on the balances, seek instructions from the matter Partner on applying clients’ money towards our bills and / or returning any excess amount to the client when necessaryAdvise on billing and collection technical tax related matters – often cross border – seek assistance or advice from othersProvide detailed financial information in support of bills e.g. hourly schedules, disbursements and narrative breakdowns. Prepare clients’ detailed billing schedules as requested.Provide training to Legal PA’s for bill and time narrative completion in 3E and support them going forwardLiaise with Working Capital Controllers across the network on cross unit matters and billingsClient, commercial and relationships
Use and promote the Pricing and Profitability Models, provide appropriate support and assistance to partners and working capital manager (WCM) on pricing of matters and reporting on matter profitabilityUnderstand local and global client rate agreements, support the WCM in other offices on global / regional client rate negotiationsRegular meetings with partners to review the working capital on their current matters.Comprehensive follow-up of action items, such as time transfer, time write off, disbursements, queries etc.Deal with enquiries from clients, partners and fee earners relating to financial aspects of client matters.Develop and maintain relationships with finance contacts at key clients to ensure prompt and efficient processing of A&O’s bills and collection of cash.Develop close relationships with BD teams across the network and provide financial support.Competencies for success
Three to five years or more experience in a credit control management role in a leading company, preferably professional services type environment or B2B in a complex billing environmentAbility to influence Partners and stakeholders for effective and efficient decision making, esp. prompting actions from parties, both internally and externally, in driving positive impact and progress at all stages of the matter and contract to cash cycleExcellent communicator; able to explain complex issues to both financial and non-financial stakeholdersResult driven; having a proactive, goal orientated approach to decision makingOutstanding interpersonal skills and inquisitiveQualifications and work experience
Bachelor’s degree in a relevant disciplineStrong technical skills including work knowledge in Excel and WordExperience with Elite 3E is a distinct advantage but not essential.Excellent written, oral and presentation skills in English, Cantonese and Mandarin