The COFA is tasked with ensuring the firm’s compliance with the Solicitor’s Accounts rules and achieving across the board compliance with regulatory and statutory obligations the firm has.  The role of Finance Compliance Executive works closely with the COFA, Finance and Compliance teams to achieve this. 

This role involves but is not limited to: 

·         Reviewing files identified by the COFA / Compliance Cashier Manager as requiring investigation to establish.

                        i.            What the residual balance or retention relates to

                      ii.            To whom it should be returned, or action required.

                    iii.            Recording the reasoning in the Client Retentions master file.

                    iv.            Referring to the Fee Earner with findings, advising course of action

·         Referring files that cannot be resolved to the COFA / Compliance Cashier Manager together with analysis of findings of initial review.

·         Carrying out follow up actions as identified.

·         Classification of retentions as required.

·         Liaison with Fee Earners as appropriate 

·         Providing regular updates of progress by way of the Client Retentions master file.

·         Management of the charity ledger and requisite payments to be made.

·         Matter housekeeping with regards to leaver files

·         Suspense ledger analysis and resolution

·         Administration of the residual balance’s mailbox

·         Providing ad hoc administrative assistance to the team when required

Requirements:

·         Previous experience working in a law firm or within the regulatory area.

·         Interest in law firm finance, risk, and compliance

·         Strong analytical skills

·         Strong communication skills

·         Ability to work under pressure.

·         Excellent organisational skills

·         Excellent overall IT skills.

Desirable

·         A good understanding of the SRA Codes of conduct for Solicitors and firms  

·         A good understanding of the Solicitors Accounts Rules

·         Experience in working on client matters and/or reviewing client matter files.

·         Previous experience working with Elite 3E, Mattersphere, Nebulaw and DPS