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.