Job Vacancy – Finance Manager

  Duma Works wrote this on
October 1, 2022 | No Comments

Duma Works is recruiting a Finance Manager for a leading business law firm in Kenya.

Department: Finance & Accounts
Reports to: Managing Partner
Role type(full-time/part-time/contractor): Full-time
Duration of Probation 3 months

Firm Purpose

To build a strong legal foundation for high-impact individuals & businesses while innovating new models on how to serve our clients better within the legal landscape in Africa alongside the brightest & most dynamic legal minds.

Department Purpose

Financial Planning, organizing, auditing, accounting for and controlling the Firm’s finances. To prepare the Firm’s financial statements.

Job Purpose

Enhances legal team effectiveness by providing financial management support.

Role summary

The Finance Manager is responsible for contributing to the vision through effective management of all aspects of the firm’s financial operations.
The Finance Manager is expected to:
  • Create value by identifying and evaluating financial strategies for enhancing the firm’s value and performance.
  • enable value by providing sound financial data to the Management committee and senior management in making decisions.
  • facilitating the understanding of performance of the firm’s functions or units.
  • preserve value by asset and liability management, managing risk in relation to setting and achieving the firm’s objectives, and implementing and monitoring effective internal control systems.
  • report value by ensuring relevant and useful internal and external business reporting

Key responsibilities

Strategic planning

Objectives

Develop and execute strategic plans to support the firm’s strategic objectives.

Actions

  • Provides strategic and tactical planning, development, evaluation and coordination of the firm’s financial systems.
  • Develop and maintain an appropriate organizational structure capable of supporting the financial needs of the firm through appropriate and cost-effective systems.
  • Develop a pricing strategy that is competitive and profitable.
  • Ensure provision of timely and accurate management information to facilitate effective decision making.
  • Facilitate financial analysis and benchmarking of the firm’s performance against its peers and competitors.
  • Provide a financial perspective on innovation and profitable growth; leverage this perspective to improve risk-awareness, strategic decision-making and performance management integration.
  • Represent the firm to clients/third parties/suppliers/external stakeholders, eg professional societies, banks, insurance underwriters.
  • Analyze potential profitability of lateral candidates and the viability of merger/acquisition opportunities.

Finance and Accounts

Objectives

Overall responsibility for the financial management and strategy of the firm and ensure its financial security.

Actions

  • Develop and implement the following functional areas and related policies and procedures:  billing and accounts receivable collections, banking relationships, forecasting and performance monitoring, business insurance, cash and treasury management, capital structure, borrowing, cash flow management, capital expenditure, partner compensation and employee payroll, escrow and client  trust account administration, financial reporting, independent audit and tax engagements, financial planning and analysis, general accounting, lease support, retirement/benefits accounting, tax administration/planning, and filing/compliance.
  • Work with firm’s Management Committee and Managing Partner to ensure profitability, growth targets, and revenue goals.
  • Keep firm leadership continually apprised of financial performance and identify areas of concern and recommend improvement strategies.
  • Advise on capital structure, partner compensation, lateral attorney acquisitions, client billing rates, alternative fee arrangements, new matter intake, taxation and approaches/solutions.
  • Partner with firm’s leaders and talent to develop analyses, metrics, benchmarks, dashboards, and systems to manage revenue, utilization, realization, leverage, expenses, and collection speed.
  • Establish and maintain appropriate internal controls for cash flow and cash management and institute improved electronic payment and cost control initiatives.
  • Analyse data on a regular and timely basis whilst effectively leveraging analytical and decision support tools.
  • Oversee the preparation of financial statements, financial reports, special analyses, and information reports.
  • Establish and maintain appropriate internal control safeguards.
  • Manage relationships with the bank and external accountants, finance experts and auditors on significant finance matters.

Client Management & Legal Team Operations

Objectives

With the support of the Legal Operations & Legal Services Managers, successfully manage the client’s need for improved efficiency and value, and most importantly, reduced cost.

Actions

  • Ensure various fee arrangements are developed and implemented.
  • Develop predictable cost structures for clients.
  • Produce weekly reports to inform management on clients’ billing and collection performance, and then using those metrics to determine where the firm can offer more competitive fees.
  • Implement successful debt collection strategies.

Regulatory compliance

Objectives

Ensure firm compliance with financial reporting and control requirements.

Actions

  • Ensure the timely filing of all taxes.
  • Monitor current business trends and best practices; maintain expert understanding of regulatory rules and guidelines and their impact on firm; communicate the impact of new developments and make appropriate recommendations.
  • Ensure compliance with national government and county budgetary reporting requirements.

Human Resource

Objectives

Develop, document, communicate, and enforce policies and procedures relating to financial functions.

Actions

  • Invest in and retain talent by employing diverse talent and attracting talent to organically grow the business, sourcing from diverse backgrounds working closely with HR executives.
  • Responsible for ensuring financial performance targets are met by all staff.
  • Build, manage, and mentor a firm culture committed to performance excellence and client service.
  • Promote clear and effective lines of communication and collaboration across the firm.
  • Conducts monthly & quarterly job performance reviews and assists with the development of professional development plans with team members.
  • Maintain a competitive and performance driven work climate that is conducive to attracting, retaining and motivating a diverse group of top-quality employees at all levels.

IT/management

Objectives

Deliver financial efficiencies through the use of ICT.

Actions

  • Create, coordinate, and evaluate the financial programs and supporting information systems of the firm to include budgeting, payroll, tax planning, and conservation of assets.
  • Implement the use of various digital technologies involved in finance that reduce costs whilst offering more value to the firm and its clients:
  • Modernize the firm’s financial system including conversion to a new enterprise level system and drive continuous improvement and innovation.

Risk management

Objectives

Assess and manage the risks associated with firm’s financial strategy.

Actions

  • Calculate risks and ensure that all decisions lead to the firm’s expansion and development.
Key deliverables
Ensure the firm delivers:
  • the strategic and business plan aims and objectives.
  • a highly profitable business and consistent and upward growth in revenues.
  • optimal department effectiveness via automation, digitisation and continuous process improvement.
  • financial revenues that can provide a return on investment for partners and attract and retain high performing staff.
  • managed risk and regulatory compliance.
  • investments of firm profits and realisation of benefits from these investments.
  • the seamless implementation of change.
  • cost efficiencies through transparency and control of budgets.

Knowledge, skills and qualifications

  1. Qualified professional
    • Mandatory
      • Undergraduate in business, accounting, finance or some other appropriate area with upper second-class honours.
      • CPA/CFA certification.
      • Training Certificates: Finance, Business, Law, Leadership
      • Kenya Certificate of Secondary Education (KCSE) OR A-Levels, IGSCE’S OR Relevant High School Diploma
      • Minimum Grade B in both English & Mathematics
    • Preferred
      • Masters Degree in Business Administration or Finance
  2. Experience & Expertise: –
    • Ten years (Minimum 10+ years) of full-time financial management experience for a medium – large size corporate.
    • Preferred Industries: Legal, Financial Services, Manufacturing
  3. Meets category 4 or 5 of the firm’s statement of competence:
    • Ethics, professionalism and judgement
      • Act honestly – earns others’ trust and respect through consistent honesty and professionalism in all interactions; does not misrepresent self or use position or authority for personal gain; respects and maintains confidentiality; keeps promises and commitments made to others; does the right thing, even when it is difficult.
      • Analytical – Synthesizes complex or diverse information; Collects and researches data; Uses intuition and experience to complement data; Designs work flows and procedures.
      • Problem Solving – Identifies and resolves problems in a timely manner; Gathers and analyses information skilfully; Develops alternative solutions; Works well in group problem solving situations.
      • Innovation – Displays original thinking and creativity; Meets challenges with resourcefulness; Generates suggestions for improving work; Develops innovative approaches and ideas; Presents ideas and information in a manner that gets others’ attention.
      • Quality Management – Looks for ways to improve and promote quality; Demonstrates accuracy and thoroughness; Monitors own work to ensure quality; Applies feedback to improve performance.
      • Dependability – Follows instructions, responds to management direction; Takes responsibility for own actions; Keeps commitments; Commits to long hours of work when necessary to reach goals; Completes tasks on time or notifies appropriate person with an alternate plan.
      • Judgment – recognises issues, problems and opportunities, and determines what action is needed.
      • Professionalism – Approaches others in a tactful manner; Reacts well under pressure; Treats others with respect and consideration regardless of their status or position; Accepts responsibility for own actions; Follows through on commitments.
      • Ethical – Significant knowledge of legal ethics rules, guidelines and compliance issues relating to client representations and engagements.
    • Technical experience
      • Track record of leading the development and delivery of leading-edge solutions that have a strategic & firm-wide effect.
      • Thorough understanding of Generally Accepted Accounting Principles.
      • Proven understanding of corporate and partnership taxation.
      • Familiarity with law firm financial systems/tools and able to stay current on such technologies.
      • Financial management, planning, analysis and reporting capabilities including pricing, budgeting, cash flow management, cost efficiencies, tax and audit.
      • Proven experience in driving growth in business profits i.e increasing revenues, reducing cost and investments.
      • Strong general IT infrastructure.
      • Strong human capital management.
      • Strong general marketing and business development.
      • Strong Client service- develops positive relationships with internal and external clients; enhances business profile and practice in response to client expectations; ensures the firm meets exceptional client service standards; ensures the firm is responsive to client needs.
    • Oral & Written Communication
      • Speaks clearly and persuasively in positive or negative situations.
      • Listens and gets clarification.
      • Writes clearly and informatively.
      • Edits work for spelling and grammar.
      • Presents numerical data effectively.
      • Able to read and interpret written information.
    • Working with people
      • Leadership – Exhibits confidence in self and others; Inspires and motivates others to perform well; Effectively influences actions and opinions of others; Inspires respect and trust; Accepts feedback from others; Provides vision and inspiration to peers and subordinates; Gives appropriate recognition to others; Displays passion and optimism; Mobilizes others to fulfil the vision.
      • Persuasion – Strong influencing and negotiating skills and the ability to understand a variety of perspectives and differing situations.
      • Interpersonal – Focuses on achieving results, not blaming; Maintains confidentiality; Listens to others without interrupting; Keeps emotions under control; Remains open to others’ ideas and tries new things.
      • Team-Work – Balances team and individual responsibilities; Exhibits objectivity and openness to others’ views; Gives and welcomes feedback; Contributes to building a positive team spirit; Puts success of team above own interests; Able to build morale and group commitments to goals and objectives; Supports everyone’s efforts to succeed; Recognises accomplishments of other team members.
      • Delegation – Delegates work assignments; Matches the responsibility to the person; Gives authority to work independently; Sets expectations and monitors delegated activities; Provides recognition for results.
      • Managing People – Includes staff in planning, decision-making, facilitating and process improvement; Takes responsibility for subordinates’ activities; Makes self, available to staff; Provides regular performance feedback; Develops subordinates’ skills and encourages growth; Solicits and applies client feedback (internal and external); Fosters quality focus in others; Improves processes, products and services; Continually works to improve supervisory skills.
    • Managing themselves & their own work
      • Project Management – Develops project plans; Coordinates projects; Communicates changes and progress; Completes projects on time and budget; Manages project team activities.
      • Deadline driven – Displays the ability to work with and meet tight deadline; Displays the ability to work well under pressure.
      • Analyses -uses economic, financial, market and industry data to assess current business strategies and tactics and to evaluate specific business opportunities; identifies trends and anticipates their impact.
      • Integrates—integrates economic, financial, market and industry data from multiple sources to identify critical business issues; articulates the implications of business trends for own department or team as well as the broader organisation.
      • Understands business functions—understands the nature and interdependencies of business functions and supporting processes (legal, marketing, finance, operations etc).
      • Understands the legal industry—understands the industry in which the organisation operates (trends, clients, competition, market share etc).
      • Leverages understanding—uses understanding of business, industry and own organisation’s performance to maximise results, limit risk and effectively direct own department, team or the organisation.
      • Motivation – Sets and achieves challenging goals; Demonstrates persistence and overcomes obstacles; Measures self against standard of excellence; Takes calculated risks to accomplish goals.
      • Keep, use and maintain accurate, complete and clear records.
      • IT skills commensurate with the role including ability to work without secretarial assistance utilising firm’s case management system.
  4. Lives according to the Firms Values:
    • Positive & Enthusiastic attitude
    • Passion for one’s work
    • Excellence: you deliver a great client experience
    • Deliver reliably
    • Sharing creative & innovative ideas
    • Works well with others
  5. Key Strengths:
    • Strategic leadership: Find alternative ways of achieving vision.
    • Analytical: Search for reasons and causes. Think about all the factors that might affect a situation.
    • Arranger: Organised, Adaptable and likes to determine how all of the pieces and resources can be arranged for maximum productivity.
    • Restorative: Adept at dealing with problems, figuring out what is wrong and resolving it.
    • Discipline: Enjoy routine, structure & create order.

Authorities

Authorised
  • To fully execute Financial Strategies as agreed with Management.
  • To expend finances on the financial strategy as approved in the budget.
  • To fully exercise authority on matters touching on approved financial strategy.
Not Authorised
  • To perform financial management work outside the approved Strategy, Policies, Procedures & Processes.
  • To Hire & Terminate staff without approval of the Managing Partner.
  • To incur expenses outside approved budgets.
  • To bind the Firm.
  • To accept new instructions from clients unless approved by the Managing Partner.
  • To provide undertakings on behalf of the firm. The Managing Partner is responsible for providing undertakings.

Apply

To apply online click here

This position will remain open until filled. 

N.B.

* You will receive a confirmation email and an alert to take a basic screening test online. The email with the test may not arrive immediately. Please be patient. The email test will typically be 5-8 questions to help us understand your background.

If you apply and don’t meet these minimum qualifications, we will not be able to move forward with your application.


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