Financial Specialist

Perkins Coie•Madison, WI

9d•$69,370 - $131,550•Hybrid

About The Position

The Financial Specialist is the single point of contact for select partners or clients regarding the financial operation and performance of their practice. From review of initial client/matter intake, through oversight of time entry and Work in Progress review, proforma distribution and retrieval, coordination with billing and collections teams, and reporting needs, the Financial Specialist is expected to integrate the operations and background of both the partner and clients to provide assigned partners with insight into the financial performance of their practice, to advise partners on best courses of action moving forward, and to proactively manage client issues. Financial Specialists are expected to be available outside of standard operating hours to address partner and client issues as they arise, and to exercise independent judgment and discretion. The Financial Specialist will collaborate closely with teams across Conflicts, New Business Intake, Billing, Collections, Pricing, Large Practice Support Program and Matter Data Management to provide seamless and efficient delivery of financial services by removing obstacles, reducing partner administrative time, and improving financial performance. ESSENTIAL FUNCTIONS These essential functions are primary job duties that incumbents must be able to perform unassisted or with some reasonable accommodation. Ensure Outside Counsel Guidelines requirements are communicated to legal teams; coordinate with client teams as required. Assist and advise regarding utilizing client knowledge on client rate change processes, including coordination of rate changes with internal teams to ensure proper system setup and submission to clients. Engage in client-appropriate proforma review and submittal process to ensure all WIP is billed timely, including tracking, performing follow-up, and proactively addressing issues. Regularly review time entries for compliance with firm and client guidelines and provide outreach to timekeepers to provide guidance; lead training for new timekeepers on designated clients, as required. Communicate special billing instructions to timekeepers and billing team as needed as part of proforma review process (including alternative fee arrangements, deal closings, etc.) and investigate issues as needed. Confirm invoices are posted and delivered to clients timely. Work with E-Billing to resolve blockers and/or rejections. Monitor, maintain, and follow up with lawyers and clients on monthly and quarterly billing budgets. Monitor accounts receivable, and work with collections team as needed to follow up on aged invoices. Confirm cash receipts application instructions and advise regarding applications of payments or reversals as necessary, manage unallocated balances and trust accounts, and understand the requirements and restrictions of each. Provide client financial reporting to client leads and/or clients as needed, and understand the restrictions upon that reporting. Provide additional client-facing reports and updates as needed. Interface with clients directly to address questions or concerns, engage in any related fact-finding, and advise regarding resolution of client concerns to client, partner, or timekeeper as needed. Perform other duties as assigned. Be available to assist assigned lawyers or clients after hours and on weekends, as needed.

Requirements

Ability to express self effectively, both orally and in writing.
Familiarity with accounting terminology and concepts, and ability to understand a ledger.
Proficiency with MS Office.
Above average problem-solving and systems-thinking skills.
A personable, welcoming, and approachable manner.
Ability to analyze and organize work for maximum efficiency.
Strong eye for detail and critical-thinking skills.
Ability to present well on the phone and in video conference calls.
Ability to work in a client-centric, deadline-driven environment.
Five years of professional services or accounting experience required.
Four-year undergraduate degree or equivalent preferred.

Nice To Haves

Familiarity with Elite 3E, Proforma Tracker, or other digital pre-bill platforms relevant to the legal industry, and IntApp Intake or other standard new business intake platforms relevant to the legal industry.

Responsibilities

Ensure Outside Counsel Guidelines requirements are communicated to legal teams; coordinate with client teams as required.
Assist and advise regarding utilizing client knowledge on client rate change processes, including coordination of rate changes with internal teams to ensure proper system setup and submission to clients.
Engage in client-appropriate proforma review and submittal process to ensure all WIP is billed timely, including tracking, performing follow-up, and proactively addressing issues.
Regularly review time entries for compliance with firm and client guidelines and provide outreach to timekeepers to provide guidance; lead training for new timekeepers on designated clients, as required.
Communicate special billing instructions to timekeepers and billing team as needed as part of proforma review process (including alternative fee arrangements, deal closings, etc.) and investigate issues as needed.
Confirm invoices are posted and delivered to clients timely.
Work with E-Billing to resolve blockers and/or rejections.
Monitor, maintain, and follow up with lawyers and clients on monthly and quarterly billing budgets.
Monitor accounts receivable, and work with collections team as needed to follow up on aged invoices.
Confirm cash receipts application instructions and advise regarding applications of payments or reversals as necessary, manage unallocated balances and trust accounts, and understand the requirements and restrictions of each.
Provide client financial reporting to client leads and/or clients as needed, and understand the restrictions upon that reporting.
Provide additional client-facing reports and updates as needed.
Interface with clients directly to address questions or concerns, engage in any related fact-finding, and advise regarding resolution of client concerns to client, partner, or timekeeper as needed.
Perform other duties as assigned.
Be available to assist assigned lawyers or clients after hours and on weekends, as needed.