Senior Manager of Partner Accounting & Compensation
Chicago, IL, United States
Summary:
The Senior Manager of Partner Accounting & Compensation reports to the Director of Partner Matters and is responsible for the operation and execution of the global partner accounting and compensation function. The individual will ensure proper payment of partner distributions, as well as the accurate accounting and reporting of partner compensation and capital in accordance with the Firms partnership agreements . The individual will work closely with Partner Relations, Retirement Plans, Tax, Strategic Planning, and Firm Senior Management to ensure the accurate calculation, tracking, and payment of partner compensation and return of capital.
Duties and Responsibilities:
Manage support of the partner evaluation and review process leading up to the Management Committee compensation review meeting.
Analyze quantitative and qualitative factors to support the ongoing compensation discussions of the Management Committee throughout the process. Provide compensation analysis for lawyers being considered for promotion to partner.
Understand individual agreements, committee decisions, special arrangements and separation agreements as it relates to partner compensation.
Responsible for overseeing the preparation, documentation, and disbursement of partner draw payments including end-of-month advance, mid-month distribution, end-of-year true-up, and miscellaneous payments. Ensuring all general ledger transactions are properly recorded and balance sheet accounts are reconciled.
Review and analyze partner accounting data to provide guidance to Partner Accounting Operations team on the preparation of partner payments.
Final review and sign-off on partner payments above a certain threshold.
Act as a liaison with the Firm general ledger team to address inquiries and Firm accounting initiatives.
Business manager of Partner Accounting Systems, including user security, data integrity, and enhancement projects, as well as ownership of data in the ELITE 3E GL system as it relates to Partners.
Ensure internal control procedures are properly documented and followed, and revise as necessary to ensure the accuracy and integrity of the partner payment and accounting processes.
Review capital account analysis (payout schedule) for separating partners, including capital holdback projections, as well as the quarterly withdrawn partner capital analysis and settlements.
Consult and clearly communicate with Partner Relations, Tax, Retirement Plans, and Strategic Planning on compensation issues and changes to partner payments to minimize the need for adjustments and corrections to management reporting and partner payments.
Partner with management in order to meet Firm objectives, including providing reports, analysis and ad hoc reports.
Responsible for the review and overall management of departments work so that deliverables to management are error free and meet deadlines.
Responsible for staff development, which includes training on systems, policies, and procedures. Provide regular feedback and coaching and participate in the hiring and retention of staff.
Complete other job duties and accounting initiatives as assigned.
Qualifications:
To perform this job successfully, an individual must be able to perform the Duties and Responsibilities (Duties) above satisfactorily and meet the requirements below. The requirements listed below are representative of the minimum knowledge, skill, and/or ability required. Reasonable accommodations will be made to enable individuals with disabilities to perform the essential functions of the job. If you need such an accommodation, please email [email protected] (current employees should contact Human Resources).
Education and/or Experience:
Required:
Bachelors degree in Accounting, Finance or related field.
A minimum of 15 years of experience; a minimum of 5 years of management experience
Demonstrated technical and analytical skills within his/her professional background
Preferred:
CPA or candidate for CPA certification
Masters of Business Administration degree
Legal Industry or Consulting experience
Other Skills and Abilities:
In addition to the above, the following may also be required of the successful candidate:
Ability to manage multiple priorities with competing deadlines and priorities
Ability to work well under pressure, facilitate solutions and meet deadlines
Advanced user of Microsoft Excel and Word, proficiency with knowledge of databases
Excellent organizational skills and attention to detail
The use of good judgment and good interpersonal communication skills
Well-developed analytical and problem solving skills
Works harmoniously and effectively with others as part of a team
A self-starter who desires to show ownership and commitment to the job
Exercises confidentiality and discretion
Sidley Austin LLP is an Equal Opportunity Employer
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