Role summary/purpose of job
Reporting to the Global Head of Financial Control and with c.4-5 direct reports, your team is responsible for ensuring that all relevant Financial Control, FP&A and Tax Operations activities in the MENA region are carried out and managed in compliance with the Firm’s policies and relevant legislation. This Financial Controller role and the Finance Support team will support the MENA COO and Regional Office Managing Partner as required.
Overview of the Function
The Global Finance function ensures robust financial control across our global operations, whilst partnering with the firm as a valued commercial advisor, influencing strategic decision making and driving long term profitable growth for the firm.
We achieve our vision with all our people working collaboratively with a shared culture and identifying themselves as part of one inclusive Global Finance team.
Key responsibilities and deliverables
Month end close and reporting
- Responsible for the month end process to ensure a timely and accurate close
- Review of ledger prior to close to ensure complete and accurate postings.
- Reporting and analysis for relevant stakeholders i.e COO, Managing Partner and Partners. Responding to queries.
- Ensuring all balance sheet reconciliations are completed and reviewed according to accounts responsibility matrix, including collaboration with colleagues in Bratislava on bank reconciliations and accounts payable.
Year end close and reporting
- Responsible for the year end process to ensure a timely and accurate close
- Responding the requests of external and internal auditors. Accountable for remediation of any relevant control/audit findings.
Local GAAP accounting
- Responsible for the completeness and accuracy of local GAAP accounting.
Budgeting and Forecasting
- Oversight of the annual budget process. Accountable for preparation of the overheads budget. Working closely with Practice Group Performance team who are accountable for the Practice Group budgets and with the Global FP&A team who are accountable for the Business Services budgets.
- Oversight of full year re-forecasts as requested by Global Finance.
Partners, Partner Taxes and Partnership Accounting
- Reviewing partner drawings and distribution payments. Reviewing distribution statements.
- Responding to ad hoc partner queries
- New partner finance induction
- Liaison with partners, the Global Tax Team, external tax advisor in relation to partner tax returns
- Supporting partners with responding to any tax audit queries
Cash, Banking and Bank relationships
- Lead relationships for Freshfields with local banks
- Approving bank payments
- Review of 13 week cash flow liquidity forecast and 12 month rolling cashflow
- Liaison with the Global Treasury team to ensure that sufficient funds are available to meet regional needs.
Other Finance tasks
- Reviewing monthly payroll.
- Calculation of associated payroll balances, such as gratuity/DEWS provisions / payments as required by local regulations.
- Management of local audits (Bahrain, Abu Dhabi ICV, UAE and KSA).
- Overview of local billing team alongside Global Matter Support colleagues, including implementation of required eBilling solutions.
- Responsible for regional intercompany accounting
- Approving expenses and payments.
Taxes
- Liaison with the external advisors in relation to corporate tax/Zakat.
- Responsible for review of VAT returns and ensuring timely submission.
- Responsible, alongside colleagues in Global tax, for development of regional transfer pricing policy and associated recharges
- Compliance with other tax regulations and development of processes for changes in tax regulations as relevant
Risk management and compliance
- Ensure compliance with global management accounts policies
- Own the cost and expense policies and monitor correct implementation
- Ensure adequate controls are designed, implemented and operating effectively across relevant finance processes
- Ensure all relevant license renewals, AML returns, and other statutory and statistical returns are completed as required by local laws and regulations
Innovation and continuous improvement
- Keeping abreast of technology and other advancements in Global Finance processes
- Applying a continuous improvement mindset and driving further automation and other initiatives which improve efficiency and control
- Identify and implement further automation
- Local Subject Matter Expert for Firmwide strategic projects
Other stakeholders
- The suppliers of the firm to negotiate/renew contracts in close collaboration with the respective budget owners such as Office Managers and functional heads (i.e. printers, mobile phones, reception and cleaning services, energy, etc.)
- landlords for any premises related issues in collaboration with the facility services colleague
- the external providers for H&S at work
Key requirements (Communication/skills/experience)
Essential
- A qualified accountant with extensive experience of statutory and regulatory frameworks and obligations across the MENA region (UAE, KSA, Bahrain)
- Demonstrable experience of effectively managing and developing teams
- Proven ability to communicate and influence across all levels, including developing effective relationships with external stakeholders
- Business fluent language skills in English
Desirable
- Professional Services or Legal industry experience
- Experience of working as a customer of Global Shared Services
- A basic understanding of a Legal and Finance Systems, ideally the Intapp suite and Elite 3e
