We have an exciting opportunity for a strong Financial Compliance Manager to join our Finance team.
What sort of work?
Client money controls and reconciliations
- Oversee reconciliations of client ledger totals, cash book balances, and bank statements for all client accounts, ensuring discrepancies are promptly investigated and resolved, with documented sign-off by COFA.
Breach monitoring and reporting
- Maintain and review breach register for Accounts Rules infringements ensuring prompt escalation to COFA where required and, where serious, timely reporting to the SRA.
- Investigate root causes of breaches (process gaps, system issues, human error), propose remedial measures, and track closure of actions.
- Liaise with external auditors when preparing formal accountants’ reports or responding to SRA inquiries regarding breaches.
Policy and procedure maintenance
- Assist in drafting, reviewing, and updating the firm’s Accounts Rules policies and procedure manuals to reflect current SRA Rules, guidance, and best practice.
- Create tailored guidance notes for practice groups.
- Maintain a regulatory developments log for changes to Accounts Rules or related SRA guidance, circulating briefs to relevant teams.
Internal controls and audit support
- Plan and execute periodic internal audits or sample file reviews to check compliance with Accounts Rules: verify source documents, client ledger accuracy, timely reconciliations, and adherence to policy.
- Identify control weaknesses and work with Finance/IT to implement system or process enhancements where needed.
- Ensure evidence of COFA challenge (e.g., review notes, sign-offs) is maintained, demonstrating ongoing oversight.
Training and awareness
- Develop and deliver targeted training sessions and refreshers for fee-earners and support staff on Accounts Rules basics: safe handling of client money, recognising prohibited transactions (e.g., using client account as banking facility), and reporting obligations.
Reporting and metrics
- Produce regular reports for COFA/Management Board: reconciliation timeliness rates, number and nature of breaches, status of remediation actions, training completion rates.
- Highlight trends or emerging risks (e.g., recurring reconciliation errors in particular practice areas) and recommend proactive measures.
Continuous improvement and Ttchnology
- Stay current with any updates to the Accounts Rules or SRA guidance; recommend updates to policies/procedures promptly.
- Incorporate lessons learned from internal/external audits and SRA feedback into controls and training materials.
Required Knowledge And Experience
- Solicitors’ Accounts Rules Expertise: Deep knowledge of SRA Accounts Rules
- Law Firm Finance Environment: Prior experience in a law firm’s accounts or finance team, ideally with direct involvement in client account management, reconciliations, or preparation of accountants’ reports.
- Systems Proficiency: Familiarity with practice-management systems or accounting software used for legal accounts; strong Excel skills for ad-hoc analysis of ledger data.
- Audit & Controls: Experience conducting or supporting internal audits/reviews of client accounts, identifying control gaps, and driving remediation.
- Regulatory Engagement: Exposure to SRA inspections or inquiries relating to Accounts Rules; liaison with external accountants or regulatory bodies.
- Communication & Training: Ability to draft clear policies/manuals, deliver engaging training, and communicate issues sensitively yet assertively to fee-earners and senior management.
Want to learn more? Take a look at the detailed job description.
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