Revenue Management Business Partner

Practice Group / Department:

Finance TeamJob Description

We're Norton Rose Fulbright - a global law firm with over 50 offices and 7,000 employees worldwide. We provide the world’s preeminent corporations and financial institutions with a full business law service. At Norton Rose Fulbright, our strategy and our culture are closely entwined. We know that our expansion will mean little unless it is underpinned by truly global collaboration and we understand that pioneering work only takes place when our people have room to move and think beyond boundaries. As well as the relevant skills and experience, we're looking for people who are innovative, commercial and value the work that they do. 

Reports to: Revenue Management Team Leader (UK)

Based: London. Hybrid working with minimum 2 days per week in the office

Hours: Monday to Friday 9.30 to 17.30  – although a level of flexibility is needed to cover peaks in workload and ensure business objectives are met.

The Commercial Finance and Revenue Operations function and our focus:

Part of EMEA Group Finance, the Commercial Finance and Revenue Operations function encompasses Client Financial Decision Support (which includes Pricing & Commercial Insight and Client Finance Support), Finance Business Partnering (strategic financial business management and financial planning and analysis activities), Finance Business Intelligence and Revenue Operations. We support NRF leadership and wider stakeholder groups to run a successful legal practice by providing financial leadership, timely insights and initiatives designed to improve commercial confidence and decision-making quality.

Revenue Operations

As part of a recent review, Revenue Operations has been refreshed and fully integrated across EMEA creating a strong network of professionals which work closely together to provide best-in-class support to the Partnership. Revenue Operations is made up of c. 85 colleagues across EMEA spread across three service pillars: Newcastle Revenue Operations (c. 45 FTE), Credit Management Business Partnering (c. 15 FTE) and Revenue Management Business Partnering (c. 25 FTE).

The Role

This role sits within the Revenue Management Business Partnering pillar and is the first line of contact for fee earners in relation to WIP management, client exposure, and Revenue planning and profitability optimization. These are future-facing roles, reflecting the needs of an ambitious and successful law firm to have proactive, value-add support from Finance. In order to be successful in delivering revenue management advisory services the successful candidate will wear many hats: -

• Analyst – using data and business intelligence to help inform priorities
• Storyteller – bringing numbers “to life” confidently and clearly delivering insights, recommendations and actions
• Relationship builder – gaining and maintaining trusted advisor status to ensure maximum influence and effectiveness
• Problem solver – taking issues away from fee earners and owning until resolution, using other SME’s as required
• Planner – always being “on the case”: anticipating and preparing for issues before they arise, taking a methodical approach to workload planning and ensuring sufficient value-add activities are being conducted to improve decision making and business profitability

The key components of the role include, but are not limited to, the following:-

• Organising and holding monthly WIP review meetings with partners to promote instructions for billing and matter maintenance requirements. Ensure that matter billing estimates (Pledges) are obtained from partners and updated in the central database.  Attending to dormant WIP balances
• Identifying, evaluating and prioritising actionable improvements to liberate significant cash from working capital
• Identifying areas for improvement in cash flow optimisation and billing forecasting practices. Implementing processes to improve cash management and create the frameworks to sustain those improvements
• Review billing guides, invoices and credit notes received from fee earners and secretaries for compliance with the firm's policies and local regulation
• Housekeeping of client and matter ledger balances, including investigation of disbursements
• Acting as the senior escalation point for partners where revenue management or matter setup issues occur, working closely with SMEs across Revenue Operations. Owning queries around the Revenue and billing process until resolution
• As an expert user of First Finance suite, promote and train fee earners in its use
• In conjunction with the other Finance Business Partners, attend partner meetings and provide working capital updates
• Under the guidance of the Pricing and Commercial Insights (PCI) team, provide basic pricing support and client analysis
• Assisting in the annual client rate review process
• Working with Finance colleagues to provide training to improve fee earner confidence and commercial acumen
• Risk management – ensuring compliance with relevant regulatory bodies and EMEA working capital policies
• Assisting Revenue Operations leadership in formulating, maintaining and enforcing working capital policies to drive best practice and risk reduction
• Contributing to the EMEA community of Revenue Business Partners, sharing best practice and providing support as needed

Key stakeholders

• Partners and fee earners for allocated teams / offices
• Secretaries and PSEs
• Business Partner colleagues across Finance (pricing, commercial finance, credit management)
• LPM Managers
• Revenue Operations colleagues based in Newcastle (billing, rates, helpdesk)
• Head of Working Capital Management - EMEA

Essential requirements

• 3+ years within professional services businesses supporting partners with revenue management with demonstrable technical finance experience using recognised legal practice management system (SAP, Aderant Expert or Elite Enterprise/3E)
• Finance Business Partnering experience with senior stakeholders. Excellent soft skills including the ability to influence or challenge senior stakeholders when necessary
• Experience of understanding rate structures, alternative pricing/billing arrangements, working in multiple currencies, alongside disbursement and vendor treatment
• A good level of commercial acumen and a clear and demonstrable understanding of working capital in a law firm and its impact on Lockup and profitability. You are able to articulate the “what’s in it for me” when supporting fee earners with revenue management decision making.
• Excellent written and verbal communication. Emotionally resilient and has strength of personality to ensure the perspective of ‘Finance’ is clearly communicated. The ability to remain calm and focused under pressure
• A continuous improvement mentality to support development of self, colleagues and business processes and interactions
• Attention to detail as well as an ability to see the bigger picture
• A collaborative team-player with a “can-do” attitude who is transparent and has a straight-forward approach
• Gravitas to succeed in a partnership environment and to gain respect as a trusted advisor
• Hard working and an ambition to grow professionally
• Flexible approach to working hours and a willingness to work outside core hours during busy periods, especially at month-end

Diversity, Equity and Inclusion

To attract the best people, we strive to create a diverse and inclusive environment where everyone can bring their whole selves to work, have a sense of belonging, and realize their full career potential. 
Our new enabled work model allows our people to have more flexibility in the way they choose to work from both the office and a remote location, while continuing to deliver the highest standards of service. We offer a range of family friendly and inclusive employment policies and provide access to programmes and services aimed at nurturing our people’s health and overall wellbeing. Find more about Diversity, Equity and Inclusion here.

We are proud to be an equal opportunities employer and encourage applications from individuals who can complement our existing teams. We strive to create an inclusive and accessible recruitment process for all candidates. If you require any tailored adjustments or accommodations, please let us know here.