Accounts Receivable Analyst

Overview of the Function

The Global Finance function ensures robust financial control across our global operations, whilst partnering with the firm as a valued commercial advisor, influencing strategic decision making and driving long term profitable growth for the firm.

We achieve our vision with all our people working collaboratively with a shared culture and identifying themselves as part of one inclusive Global Finance team.

Role summary/purpose of job

This is a role of critical importance and trust within our global finance function. As a Cashier, you will be a guardian of the firm's assets and, most importantly, our clients' funds. You will be responsible for the accurate and timely processing of all incoming payments and the meticulous administration of our client trust accounts. This position requires an individual with exceptional attention to detail, a strong sense of ownership, and an unwavering commitment to compliance and accuracy. You will play a vital part in upholding the firm's fiduciary duty and ensuring the integrity of our financial operations.

Key responsibilities and deliverables

Cash Receipting & Application

• Accurately and promptly process and apply all incoming client and office payments received via wire, ACH, and cheque across multiple currencies.
• Research and resolve unidentified or unallocated cash receipts, liaising with clients, the collections team, and fee-earners as necessary.
• Manage the daily cash reconciliation process for all receipts, ensuring the firm's records match bank statements perfectly.

Client Money (IOLTA/Trust) Management

• Serve as a key operator in managing the firm's IOLTA (Interest on Lawyers' Trust Accounts) and other client trust accounts, ensuring strict compliance with State Bar rules and regulations.
• Accurately record the receipt of client funds into the appropriate client trust ledger.
• Process payments to third parties from trust accounts, ensuring proper documentation and partner approval is in place.
• Execute approved transfers of funds between trust accounts and the firm's office accounts to settle client bills.
• Assist in the regular reconciliation of all client trust accounts, ensuring every penny is accounted for.

Controls & Team Support

• Adhere to all internal financial controls and segregation of duties policies to prevent fraud and error.
• Prepare reports on cash receipts and trust account balances for management.
• Liaise with the Billing, Collections, and Accounts Payable teams to resolve cross-functional queries.
• Serve as a point of contact for fee-earners and their assistants for queries related to client payments and trust balances.

Essential Experience & Skills

• Prior experience in a finance or accounting role within a law firm is essential.
• Direct, hands-on experience with cash application and, critically, IOLTA or client trust accounting is mandatory.
• Impeccable attention to detail and a commitment to 100% accuracy.
• High level of integrity and discretion, with a complete understanding of the confidential nature of the role.
• Ability to work efficiently under pressure and meet strict daily deadlines in a high-volume processing environment.
• Strong analytical and problem-solving skills, with the ability to investigate and resolve discrepancies methodically.
• Proficiency in Microsoft Excel and experience working with a large-scale accounting system.

Desirable Skills

• Experience with a legal-specific ERP system (e.g., Elite 3E or Aderant Expert) is highly desirable.
• Familiarity with online banking platforms for reporting and transaction investigation.

Pay and benefits

For individuals assigned and/or hired to work in New York and California, Freshfields is required by law to include a reasonable estimate of the compensation range for this role.

This compensation range is specific to the States of New York and California and takes into account the wide range of factors that are considered in making compensation decisions including but not limited to skill sets; experience and training; licensure and certifications; and other business and organizational needs.

The disclosed range estimate has not been adjusted for the applicable geographic differential associated with the location at which the position may be filled, and compensation decisions are dependent on the facts and circumstances of each case. A reasonable estimate of the current range is $90,000 to $100,000.