Senior Financial Analyst

Please send resume in WORD format should you be interested in the following Senior Financial Analyst position located in Chicago, IL. This is a full-time, permanent position with a salary up to $120K plus discretionary bonus and benefits. If youre not interested, please pass along to your colleagues as we do pay referral fees.

Job Title:Senior Financial Analyst

Location: Chicago, IL

Salary: Up to 120K + discretionary bonus and benefits

Hybrid: 4 days in office (might have some flex)

Interview process: 2 interviews.

Expert Excel and QuickBooks experience required.

Job Description:

Premier national wealth planning law firm focused on providing sophisticated legal advice, exceptional client service, and innovative solutions. Our deep bench of wealth planning attorneys teams up with attorneys from all areas of expertise to service the full range of clients personal and business needs.

Essential Functions

• Analyze complex financial data, including partner compensation models, practice group profitability, and client billing metrics, to assess the firm's overall financial health.
• Develop and maintain sophisticated financial models to forecast revenue, expenses, and cash flow, considering factors specific to the law firm landscape (e.g., lateral hiring, client concentration, contingencies).
• Partner with senior management to develop and implement the annual budget, including variance analysis and performance monitoring.
• Conduct in-depth research on industry trends, competitor performance, and potential mergers or acquisitions.
• Prepare comprehensive financial reports (e.g., partner profitability reports, practice group performance reports) tailored for the Am Law environment.
• Identify and implement cost-saving initiatives to optimize the firm's financial efficiency while maintaining a competitive edge within the Am Law market.
• Collaborate closely with practice groups and departments to provide strategic financial guidance and support their business development efforts.
• Ensure strict adherence to accounting principles and best practices specific to Am Law firms.

Education and Experience

• Bachelor's degree in Accounting, Finance, or a related field (CPA or MBA a plus).
• 3+ years of experience as a Senior Financial Analyst or similar role in a professional services firm, preferably law firm.
• Strong analytical and problem-solving skills.
• Excellent financial modeling skills (proficiency in Excel and financial modeling software).
• Effective communication and interpersonal skills, with the ability to present complex financial information clearly and concisely.
• High level of accuracy and attention to detail.
• Strong understanding of accounting principles and financial reporting.
• Experience working within a fast-paced environment.

Knowledge Requirements

• In-depth understanding of accounting principles as they apply to Am Law 200 firms, including partner compensation structures, law firm accounting practices, and the unique revenue recognition rules for legal services.
• Working knowledge of the law firm landscape, including industry trends, competitor performance metrics (e.g., revenue per lawyer (RPL), PPP, lawyer productivity), and key financial ratios relevant to law firms (e.g., leverage ratio, utilization rate, work in progress (WIP) to partner capital ratio).
• Familiarity with legal practice areas and their associated billing structures (e.g., hourly billing, value billing, blended rates, retainers).
• Understanding of the factors that impact law firm profitability, such as client concentration, lateral hiring, litigation contingencies, and alternative fee arrangements (AFAs).
• Knowledge of best practices for financial reporting within Am Law firms, including experience with reporting tools used for partner profitability and practice group performance analysis.
• Proficiency in advanced financial modeling techniques and software to analyze complex financial data sets specific to the Am Law environment.
• Familiarity with Online Analytical Processing (OLAP) tools for multi-dimensional analysis of law firm performance metrics (e.g., profitability by practice area, client, and lawyer).