Reporting to the Financial Accountant / Financial Controller, the Partner Remuneration & Capital Analyst will be responsible for the calculation, processing, timely payment and accounting of all aspects (excluding tax) of Partners' remuneration and capital.
Partner Payroll / Profit Share
Be the 'go to' person for all things Partner related for Finance, HR, and Partners. (Note: tax queries will be referred to the Tax Manager).
Ensure Partner remuneration is in line with the firm's Draw and Distribution Policy. Own and maintain a monthly drawings reconciliation summary.
Key partner payments, and working alongside Cashiers to ensure the payment of partner draw and distributions is on schedule.
Work with the Divisional Finance team for Asia and GCC to ensure Salaried Partner expenses are correctly reflected in local P&L and Balance Sheets.
Own the 'firm-wide' reconciliation of Partner Profit Share.
In line with the firm's capital policy, the role is responsible for calculating and arranging the placement of Partner's required capital, liaising with Partner's and banks to ensure capital is placed in a timely manner (ensuring the firm meet HMRC requirements for Salaried Members legislation).
Maintain the firm's Partner Capital control reconciliation, reporting monthly to the CFO.
Calculate capital loan interest, ensuring applied to Partner's accounts per policy.
Communicate updates/changes to Partners.
Own and produce the annual partner financial statements.
Work with HR to coordinate charges to partner accounts for compulsory and optional benefits.
Ensure Partner's accounts is up to date, with items posted regularly.
Develop a good understanding of Partner's tax and retention reserving.
Working with tax team to ensure Partner's queries are answered promptly.
Support the HR team with all aspects of Partner's financial affairs (excluding Tax), including developing illustrative examples for prospective lateral recruits.
Own the Partner Points schedule, working with the DFM FP&A to ensure that the partner points are up to date and correctly forecast.
Own the accounting for the firm's preference share.
KNOWLEDGE, SKILLS AND EXPERIENCE REQUIRED (BESPOKE TO ROLE)
The successful candidate will have:
Have a keen attention to detail.
Be comfortable with 'owning' the remit of the role, developing new ways of working and ensuring controls are maintained.
Be at ease working with and speaking to Partners and other senior members of the firm in Partner's financial affairs.
Good knowledge of partner accounting.
Competent / advanced Excel skills.
The role may require regular travel to UK offices.