Job Description

Role Overview

We are recruiting for a Partnership Accountant to join our Partnership Affairs team. Offered as an initial 12-month fixed term contract, the role will provide cover for maternity leave.

Operating within the heart of the firm\'s central management team, Executive Office, Partnership Affairs is responsible for the accounting and reporting of partnership profit, tax reserves, payments and capital on a partner by partner basis for all partners across multi-jurisdictions and multi- currencies. This key role working alongside the Director of Partnership Affairs provides an excellent opportunity for development in this niche accounting area.

Key internal relationships

Partners and other business support team colleagues, particularly Finance.

Reports to

Director of Partnership Affairs

Key objectives

Assisting the Director of Partnership Affairs and acting as their deputy when required

Project managing the core financial foundations of the partner renumeration aspects of the Partnership Affairs function and delivering key workstreams in the annual cycle for review by the Director of Partnership Affairs, to include (but not limited to):

• maintaining and developing the accounting and reporting of partner profits, drawings, distributions, tax retentions and capital contributions to provide up to date records of all partner related balances across multiple jurisdictions and in multi-currencies;
• overseeing the mechanics of partner capital funding both in individual subscription and in firm-wide refinancing.

Ensuring compliance with the firm\'s tax obligations in the UK, Hong Kong and Singapore, to include (but not limited to):

• overseeing preparation of annual tax computations for the firm\'s entities (including non-UK offices and their local filings;
• liaising with external tax advisors and other relevant parties on partner taxation matters;
• overseeing the partners\' annual individual tax return submission process.

Managing the priorities of the Partnership Accounting team (1 Partnership Accountant, 2 Administrators).

Assisting the Director of Partnership Affairs with informing and educating the partners on their financial position, drawings, profit share, tax reserves etc

Collaborating with the Director of Partnership affairs on partner remuneration related projects.

Duties and Responsibilities include but not are limited to the following:

• Developing and maintaining the accounting and reporting of partner profits, drawings, distributions, tax retentions, benefits and capital contributions in collaboration with the Director of Partnership Affairs
• Maintaining accurate and up to date records of the balances due to and from each partner, partner statements and distribution schedules
• Maintaining profit allocation spread sheets and creating appropriate models for various profit/distribution scenarios
• Providing partner remuneration references and other relevant financial information to third parties.
• Overseeing the work of the Partnership Accounting team, setting priorities, and reviewing output.
• Collaborating with the Finance Reporting team to develop and maintain a general ledger coding and structure for partner distribution and tax accounts
• Delivering reconciled and accurate core partner related financial balances to the firm\'s accounting systems
• Collaborating with the Finance team to ensure accurate transaction source data
• Preparing draft tax computations for RPC entities and resolving any queries
• Ensuring Partners\' tax affairs are properly recorded and pro-actively managed. Liaising with the firm\'s and partners\' tax advisors, providing profit share and other relevant information.
• Calculating and maintaining partner tax reserves, releases and reconciliations. Collaborating with partnership tax advisers to determine appropriate tax payments.
• Assisting with international profit allocations and liaising with overseas offices on tax implications.
• Reviewing and proposing allocations of tax advisors\' fees.
• Liaising with the firm\'s bankers to resolve questions on partner capital loans.
• Mustering partners to supply the required information for capital loans and partner tax.
• Liaising with the firm\'s Payroll Manager to ensure accurate partner drawings and distribution payments.
• Overseeing partner remuneration related cash flow forecasts.
• Assisting with ad-hoc partner remuneration related projects, partnership matters, partnership elections, deed preparation and other partner focused initiatives.

Knowledge, skills and experience

• A minimum of 7 years+ accounting or tax experience, preferably in a law firm or other professional services environment
• Have studied or be studying for a formal accounting or tax qualification from a recognised accountancy body (ATT, ACCA, CIMA, or similar)
• A thorough understanding of management and financial accounting principles, including multi-currency and multi-unit consolidations
• Experience of dealing with partnership tax and associated tax returns
• Strong project management skills
• Strong analytical skills with focus on pragmatic solutions and standardised processes
• Ability to adapt to and implement change, including interpreting the requirements given to deliver consistent information and processes in line with the firm\'s policies
• Strong communication skills both oral and written
• Willingness to collaborate with others to achieve success
• Ability to deal with confidential matters in an accounting environment
• An enthusiastic, flexible and pro-active approach. Solution and client service orientated with a positive, "can do" attitude. Initiative and desire to get the job done, and get it done to a high standard
• Commercial awareness and a readiness to challenge. Ability to see the big picture but with meticulous attention to the detail
• Strong IT skills, particularly Excel

Additional Documents
Senior Partnership Accountant

RPC