Finance Manager (Law Firm)

LR Legal Recruitment; Loughton; Hybrid; GBP 65,000 - 90,000; Full time

Benefits offered by this job

Hybrid working

Annual leave 25 days

Pension scheme

EAP

Wellbeing platform

Staff events

Job summary

LR Legal Recruitment is seeking an experienced Finance Manager for a well-established regional law firm. The role leads the firm's finance function, manages a team of four, and ensures accurate reporting, cash flow management and regulatory compliance.

The successful candidate will have a minimum of eight years’ finance experience within a law firm and hold an accounting qualification (AAT/ACCA/ACA/CIMA). Previous COFA experience preferred.

Qualifications

• Eight years of finance experience in a law firm.
• Strong knowledge of the SRA Accounts Rules and compliance.
• Experience preparing management accounts and forecasts.
• Budgeting, cash flow management and financial planning.
• Experience leading a finance team.

Responsibilities

• Oversee day-to-day financial operations of the firm.
• Prepare monthly management accounts and financial reports.
• Monitor budgets, profitability and performance across departments.
• Conduct variance analysis against budgets and forecasts.
• Support partners with financial performance insight and KPIs.
• Lead the finance team and drive process improvements.

Skills

Law firm finance experience

SRA Accounts Rules knowledge

Management experience

Financial reporting

Cash flow management

Education

AAT/ACCA/ACA/CIMA qualification

Tools

Legal accounting software

Case management systems

Job description

Experience: Minimum 8 years’ finance experience within a law firm

Department: Finance / Business Support

Location: Loughton

About the Firm

A well-established regional law firm with multiple offices across Hertfordshire, Essex and London is seeking an experienced Finance Manager to lead its finance function.

The firm has a strong reputation for client service and is committed to providing a supportive working environment, clear career progression and opportunities for professional development.

The Role

The Finance Manager will lead the firm’s finance function and manage a team of four, ensuring accurate financial reporting, effective cash flow management, regulatory compliance and efficient financial operations.

The successful candidate will oversee day-to-day accounting activities and ensure compliance with the Solicitors Regulation Authority (SRA) Accounts Rules and other relevant legal sector requirements.

Applicants should have a minimum of eight years’ finance experience within a law firm and hold an AAT, ACCA, ACA, CIMA or equivalent accounting qualification. Previous management experience is essential, while experience as a Compliance Officer for Finance and Administration (COFA) is preferred.

Essential Knowledge and Experience

• Experience working within a law firm or professional services environment.
• Strong understanding of the SRA Accounts Rules.
• Experience preparing management accounts.
• Budget preparation and financial forecasting.
• Cash flow management.
• Experience managing and developing finance teams.
• Knowledge of VAT, payroll and relevant tax requirements.
• Experience using legal accounting software and case management systems.
• Strong organisational, communication and leadership skills.

Key Responsibilities

• Oversee the firm’s day-to-day financial operations.
• Prepare monthly management accounts and financial reports.
• Monitor profitability, budgets and departmental performance.
• Conduct variance analysis against budgets and forecasts.
• Support partners with financial performance analysis and key metrics.
• Prepare annual budgets and financial forecasts.
• Monitor lock-up, including work in progress (WIP), debtors and disbursements.
• Oversee billing processes and revenue recognition.
• Report on fee income, recovery rates, partner drawings and departmental profitability.
• Monitor matter balances, residual client account balances and forecast cash requirements.
• Assist with borrowing arrangements and lender covenant compliance where applicable.

Cash Flow and Banking

• Manage the firm’s cash flow and prepare forecasts.
• Monitor client and office account balances.
• Liaise with banks and financial institutions.
• Maintain appropriate controls over payments and receipts.
• Authorise payments in accordance with delegated authority.

SRA Accounts Rules and Regulatory Compliance

• Ensure compliance with the SRA Accounts Rules.
• Oversee client account reconciliations and monitor residual balances.
• Prepare information for annual accountant’s reports.
• Support regulatory inspections, compliance reviews and audits.
• Work closely with the firm’s COLP where appropriate.
• Undertake the role of COFA.
• Produce monthly, quarterly and annual financial reports.
• Prepare statutory accounts information for external accountants.
• Maintain accurate and complete financial records.
• Provide financial analysis, KPI reporting and management information.
• Monitor departmental performance against agreed targets.

Team Management

• Lead, manage and develop a team of four finance professionals.
• Conduct performance reviews and provide training.
• Ensure appropriate departmental cover and succession planning.
• Promote high standards of service to internal stakeholders.

Systems and Process Improvement

• Maintain and improve financial systems, controls and procedures.
• Identify opportunities to improve efficiency.
• Support the implementation of finance software and reporting tools.
• Develop reporting dashboards and management information in collaboration with IT.

Compliance and Risk Management

• Ensure compliance with VAT, PAYE and other tax obligations.
• Oversee payroll processes in conjunction with HR.
• Maintain robust financial controls.
• Support anti-money laundering (AML) compliance where relevant.
• Monitor professional indemnity insurance and regulatory payments.

What the Firm Is Looking For

The successful candidate will be professional, commercially aware and committed to delivering high standards. They should demonstrate sound judgement, a proactive approach to problem-solving and the ability to build effective relationships with partners and colleagues.

Strong leadership, attention to detail and an awareness of financial and regulatory risks are essential.

• Flexible and hybrid working arrangements.
• Structured career development and progression.
• Supportive working environment with regular one-to-ones and performance reviews.
• Firm-wide and fee-earner bonus schemes.
• 25 days’ annual leave, increasing with length of service up to 30 days.
• Contributory pension scheme.
• Employee Assistance Programme.
• Access to a financial wellbeing platform.
• Social and wellbeing initiatives.
• Regular staff events and team activities.