Partnership Accountant

  • Allen & Overy
  • Bishops Square, London, UK
  • Apr 19, 2022
Accountancy

Job Description

Job description

We are currently recruiting for a Partnership Accountant to join our Partners' Affairs & Tax team within Finance in the London office on a permanent basis.  The remit of the team is to support all aspects of the firm’s 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 and Responsibilities
Partnership Capital/Capital Loans, including;

  • managing the annual capital contribution process together with arranging capital contributions/capital loans for new partner and capital loan repayments for retirees
  • managing relationships with the banks and legal advisers with regard to capital loan documentation
  • forecasting of bank facility limits.
  • responsible for the maintenance and reconciliation of partners’ capital general ledger accounts
  • reconciling interest and arranging the quarterly loan interest payments to the firm’s banks

Ownership of the Partner joiner, mover and retiree processes thereby ensuring a smooth transition. This includes;

  • preparing cash flow projections for new & lateral partner hire partners
  • preparing retirement calculations across a portfolio of offices
  • reviewing confirmation of earnings letters for partners’ personal finance purposes
  • posting partner finance related journals in line with the firm’s policies, for example partner retirement journals
  • reconciliation of partner expat accounts in line with relocation assignment terms
  • preparing ad hoc reports/cash flow projections to facilitate decision-making

Responsible for the calculation and co-ordination of the annual Global Allen & Overy Foundation charity contributions. This includes;

  • calculation of each partners’ annual contribution and charging to partner current accounts
  • allocation between offices of contributions to be made by local committees
  • ensuring tax efficient treatment of contributions, where possible

Ownership and reconciliation of the partners’ disbursement accounts, including;

  • Monthly reconciliations thereby ensuring the accurate collection and clear down of balances
  • responding to partner disbursement queries on disbursements

Supporting the year end process;

  • assisting with the year-end audit / liaising with auditors, particularly around the partnership capital process
  • preparing year-end capital schedules to facilitate the production of the annual partner statements and disclosure in the firm’s Annual Report & Financial Statements

Other

  • Providing support to the teams’ management in ad-hoc project work, such as the development of new partner processes and systems, in particular the continued development and enhancement of the capital raising process.
  • Providing cover for the calculation and payment of partners’ monthly drawings and special distributions, including inputting of information into the Global Payroll System and the running of reports.
  • Providing support/cover for monthly reporting and forecasting for management accounting purposes together with ad hoc management reporting to facilitate decision-making.

Key requirements

  • Excellent communication skills both oral and written
  • Enthusiastic, dynamic, pro-active, ambitious, commitment to "getting the job done".
  • Ability to assimilate large amounts of information and a strong eye for detail.
  • Able to work effectively using own initiative and as part of a team.
  • 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.
  • Proven ability to provide a high level of 'client service'.
  • Previous business experience in a global organisation, preferably within a professional services function.

Qualifications

  • Graduate or A level calibre.
  • Qualified Accountant (ACCA or similar)  

Allen & Overy LLP is committed to being an inclusive employer and we are happy to consider flexible working arrangements.