Fractional Controller
Job Description
Job Description
Job Description
Job Title: Controller
Location: [Insert Location]
Reports To: Managing Partner / Executive Committee
Firm Size: ~$15 Million Annual Revenue
Position Summary
The Controller is responsible for overseeing all financial operations of the firm, ensuring accuracy, compliance, and strategic financial insight. This role manages accounting, financial reporting, budgeting, cash flow, partner compensation support, and regulatory compliance, with a strong emphasis on law firm-specific requirements such as trust accounting and billing realization.
The Controller serves as a key advisor to firm leadership, helping drive profitability, efficiency, and informed decision-making.
Key Responsibilities
Financial Management & Reporting
* Oversee all accounting functions including general ledger, accounts payable/receivable, payroll, and financial close
* Prepare and deliver timely monthly, quarterly, and annual financial statements
* Develop and maintain financial dashboards and KPI reporting (e.g., realization rates, utilization, profitability by practice area)
* Ensure compliance with GAAP and applicable regulatory standards
Law Firm Accounting & Billing Oversight
* Manage client billing processes, including timekeeping, pre-bill review, and collections
* Monitor and report on key metrics such as:
* * Billable hours and utilization
* Realization and collection rates
* Work-in-progress (WIP) and aged receivables
* Oversee trust (IOLTA) accounting to ensure strict compliance with legal and ethical requirements
Budgeting, Forecasting & Analysis
* Lead annual budgeting process and ongoing financial forecasting
* Provide variance analysis and actionable insights to partners and practice leaders
* Support pricing strategies, fee arrangements, and profitability analysis
Cash Flow & Treasury Management
* Monitor and manage firm cash flow, operating accounts, and partner distributions
* Optimize working capital, including receivables and payables management
* Coordinate with banking partners and manage credit facilities if applicable
Partner Compensation & Firm Economics
* Support development and administration of partner compensation models
* Provide analysis on partner performance, originations, and profitability
* Ensure transparency and accuracy in compensation reporting
Compliance & Risk Management
* Ensure compliance with legal, tax, and regulatory requirements
* Coordinate with external auditors, tax advisors, and consultants
* Maintain internal controls and financial policies to safeguard firm assets
Leadership & Team Management
* Lead and develop accounting and finance staff
* Foster a culture of accountability, continuous improvement, and service excellence
* Collaborate cross-functionally with HR, IT, and practice groups
Key Performance Indicators (KPIs)
* Billing realization and collection rates
* Days Sales Outstanding (DSO)
* WIP and AR aging
* Budget vs. actual performance
* Profitability by practice area and partner
* Cash flow predictability
Qualifications
Education & Experience
* Bachelor's degree in Accounting, Finance, or related field (CPA strongly preferred)
* 7-12+ years of progressive accounting/finance experience
* Prior experience in a law firm or professional services firm highly preferred
* Experience with legal billing systems and trust accounting required
Skills & Competencies
* Strong understanding of law firm economics and operations
* Advanced financial analysis and modeling skills
* High attention to detail and accuracy
* Ability to communicate financial insights to non-financial stakeholders
* Proficiency in accounting and practice management software (e.g., Elite, Aderant, Clio, QuickBooks)
* Leadership and team development capabilities
Personal Attributes
* High integrity and professionalism
* Proactive, solutions-oriented mindset
* Ability to operate both strategically and tactically
* Strong organizational and time management skills
* Comfortable working in a partner-driven environment
Job Description
Job Title: Controller
Location: [Insert Location]
Reports To: Managing Partner / Executive Committee
Firm Size: ~$15 Million Annual Revenue
Position Summary
The Controller is responsible for overseeing all financial operations of the firm, ensuring accuracy, compliance, and strategic financial insight. This role manages accounting, financial reporting, budgeting, cash flow, partner compensation support, and regulatory compliance, with a strong emphasis on law firm-specific requirements such as trust accounting and billing realization.
The Controller serves as a key advisor to firm leadership, helping drive profitability, efficiency, and informed decision-making.
Key Responsibilities
Financial Management & Reporting
* Oversee all accounting functions including general ledger, accounts payable/receivable, payroll, and financial close
* Prepare and deliver timely monthly, quarterly, and annual financial statements
* Develop and maintain financial dashboards and KPI reporting (e.g., realization rates, utilization, profitability by practice area)
* Ensure compliance with GAAP and applicable regulatory standards
Law Firm Accounting & Billing Oversight
* Manage client billing processes, including timekeeping, pre-bill review, and collections
* Monitor and report on key metrics such as:
* * Billable hours and utilization
* Realization and collection rates
* Work-in-progress (WIP) and aged receivables
* Oversee trust (IOLTA) accounting to ensure strict compliance with legal and ethical requirements
Budgeting, Forecasting & Analysis
* Lead annual budgeting process and ongoing financial forecasting
* Provide variance analysis and actionable insights to partners and practice leaders
* Support pricing strategies, fee arrangements, and profitability analysis
Cash Flow & Treasury Management
* Monitor and manage firm cash flow, operating accounts, and partner distributions
* Optimize working capital, including receivables and payables management
* Coordinate with banking partners and manage credit facilities if applicable
Partner Compensation & Firm Economics
* Support development and administration of partner compensation models
* Provide analysis on partner performance, originations, and profitability
* Ensure transparency and accuracy in compensation reporting
Compliance & Risk Management
* Ensure compliance with legal, tax, and regulatory requirements
* Coordinate with external auditors, tax advisors, and consultants
* Maintain internal controls and financial policies to safeguard firm assets
Leadership & Team Management
* Lead and develop accounting and finance staff
* Foster a culture of accountability, continuous improvement, and service excellence
* Collaborate cross-functionally with HR, IT, and practice groups
Key Performance Indicators (KPIs)
* Billing realization and collection rates
* Days Sales Outstanding (DSO)
* WIP and AR aging
* Budget vs. actual performance
* Profitability by practice area and partner
* Cash flow predictability
Qualifications
Education & Experience
* Bachelor's degree in Accounting, Finance, or related field (CPA strongly preferred)
* 7-12+ years of progressive accounting/finance experience
* Prior experience in a law firm or professional services firm highly preferred
* Experience with legal billing systems and trust accounting required
Skills & Competencies
* Strong understanding of law firm economics and operations
* Advanced financial analysis and modeling skills
* High attention to detail and accuracy
* Ability to communicate financial insights to non-financial stakeholders
* Proficiency in accounting and practice management software (e.g., Elite, Aderant, Clio, QuickBooks)
* Leadership and team development capabilities
Personal Attributes
* High integrity and professionalism
* Proactive, solutions-oriented mindset
* Ability to operate both strategically and tactically
* Strong organizational and time management skills
* Comfortable working in a partner-driven environment