Chief Financial Officer

Description

PRIMARY OBJECTIVE

The Chief Financial Officer maximizes the return on financial assets by maintaining financial policies, procedures, controls and reporting systems. Ensures legal and regulatory compliance for all accounting and financial reporting functions. Oversees management of expenses and general accounting, accounts receivable/payable and risk management.

ESSENTIAL DUTIES AND RESPONSIBILITIES

Essential functions include the following responsibilities. Regular and predictable, on-site attendance is an essential function of the job.

Strategy

• Plan, develop, organize, implement, direct and evaluate the Firm’s fiscal function and performance. Evaluate and advise on the impact of long range planning for practice areas. 
• Provide timely and accurate analysis of budgets, financial reports, practice group profitability and financial trends in order to assist the CEO, COO and the Executive Committee in performing their responsibilities. 
• Enhance and/or develop, implement and enforce billing policies and procedures of the Firm that will improve the overall      operation and effectiveness of the Firm. 
• Continual improvement of the budgeting process through education of Shareholders and staff on financial issues affecting      their departments. 
• Provide strategic financial input and leadership on decision making issues affecting the Firm.
• Optimize the handling of bank and deposit relationships and initiate appropriate strategies to enhance cash position. 
• Develop a reliable cash flow projection process and reporting mechanism that includes minimum cash threshold to meet      operating needs. 
• Be an advisor from the financial perspective on engagement letters and/or any contracts into which the Firm may enter. 
• Management of Finance/Accounting staff and evaluation of the department structure and team plan for continual      improvement of the efficiency and effectiveness of the group. 

Cash Management Oversight

• Preparation and distribution of daily cash projections to management
• Daily review of bank account balances. Coordination of transfers of monies to ensure adequate and optimal funding levels in accounts.
• Preparation of annual line of credit reporting and account draws/pay backs as required
• Annual cash requirement forecasting
• Work with staff on process of review of Trust Account balances 
• Review of monthly cash account reconciliations
• Ongoing review, posting and payment of client cost charges

Accounts Payable Oversight

• Weekly review and coordination of payment of client costs and company level accounts payable. 
• Process of quarterly company level estimated tax payments, when applicable

Financial Reporting Oversight

• Preparation of monthly company financial statements
• Assist with preparation of annual budget and any on-going updates
• Preparation of annual audit supporting schedules
• Department and office level reporting
• Tracking and reporting of annual political contributions
• Ongoing oversight of attorney billing and billable hours
• Coordinating and consolidating of reporting from Perfect Practice system relating to foreclosure department
• Provides financial status of the Firm by collecting, interpreting, and reporting key data.

Compensation

• Shareholder compensation schedules and payments including holdback analysis
• Shareholder distribution schedules
• Schedules for annual counsel and associate salary increases
• Payment of quarterly shareholder stock buy-outs as per amortization schedules
• Annual and on-going fee share calculations
• Schedules for payment of annual staff profit share and 401k match

Other

• Oversight of daily cost entry, cash processing, A/P processing and client billing
• Accounting system oversight and updates as needed
• Ongoing profitability analysis as needed
• Other duties as requested, directed or assigned

Requirements

QUALIFICATIONS 

An experienced leader and financial executive with appropriate industry experience, preferably in the legal field. An energetic, forward-thinking and creative individual with high ethical standards and an appropriate professional image. A strategic visionary with sound technical skills, analytical ability, good judgment and strong operational focus. A well-organized, intelligent and articulate individual who can relate to people at all levels of an organization and possesses excellent communication skills. 

CPA designation or Masters degree (MA) or equivalent; or ten years related experience and/or training; or equivalent combination of education and experience. 

Ability to work independently and with members of a team. Strong attention to detail with the ability to review current processes and make recommendations for improvements. Ability to quickly learn various reporting systems.

Physical Demands: The physical demands described here are representative of the requirements that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of the job, the employee is regularly required to use a telephone, copy machine, computer keyboard, and mouse; reach with hands and arms; talk and listen. Specific vision abilities required by this position include close vision and the ability to adjust focus.

Scope: This job description describes the general nature of the job and does not represent that all such duties will be performed by all individuals who hold the job. This job description does not limit the tasks that an employee may reasonably be requested to perform and in no way alters the firm’s at-will policy.

The Firm is an equal opportunity employer and is committed to the maintenance of an employment environment which is welcoming of persons from diverse backgrounds and free from unlawful discrimination and harassment, and in which all of the legal rights of our employees are recognized and protected. Unlawful discrimination based upon race, color, religion, sex, sexual orientation, national or ethnic origin, ancestry, citizenship, age, marital status, genetic information, medical condition, physical or mental disability, pregnancy, veteran status, all other characteristics proscribed by law, and discrimination on the basis of gender identity and/or expression is strictly prohibited.