What are the responsibilities and job description for the Chief Financial Officer (CFO) position at Bush & Bush Law Group?
About Us:
We are a fast-growing law firm in Dallas, Texas, specializing in personal injury cases. Our firm is dedicated to delivering exceptional results for our clients while fostering a positive and professional workplace culture. We are seeking an experienced Chief Financial Officer (CFO) with a strong background in financial management for law firms, including trust account management and contingency fee structures.
Key Responsibilities:- Financial Strategy and Leadership:
- Develop and execute the firm’s financial strategy to drive growth and profitability.
- Provide strategic financial guidance to the executive team, ensuring alignment with the firm’s goals.
- Accounting and Compliance:
- Oversee the management of client trust accounts, ensuring compliance with state BAR rules and legal accounting standards.
- Implement and maintain accounting systems that ensure accurate tracking of contingency fee revenue and case costs.
- Ensure compliance with all regulatory and tax obligations, including audits and financial reporting requirements.
- Budgeting and Forecasting:
- Create and manage annual budgets, financial forecasts, and cash flow analysis.
- Monitor financial performance against benchmarks and recommend adjustments to meet goals.
- Case Cost Management:
- Implement systems to track case-related expenses and ensure cost efficiency.
- Collaborate with legal teams to analyze case profitability and ROI.
- Risk Management:
- Assess financial risks and develop mitigation strategies.
- Ensure the security and integrity of the firm’s financial systems and data.
- Team Leadership and Collaboration:
- Lead the finance and accounting team, providing mentorship and fostering a culture of accountability and excellence.
- Work closely with department heads to align financial goals with operational objectives.
- Education:
- Bachelor’s degree in Accounting, Finance, or a related field required.
- CPA, MBA, or equivalent advanced degree strongly preferred.
- Experience:
- Minimum of 8-10 years of progressive financial leadership experience.
- Proven track record of financial management in a law firm environment.
- Deep understanding of trust account management and contingency fee structures.
- Skills:
- Expertise in legal accounting, including trust account compliance and IOLTA management.
- Strong analytical, strategic planning, and decision-making abilities.
- Advanced proficiency in financial software and case management systems.
- Exceptional leadership and communication skills, with the ability to present complex financial data clearly.
- Character:
- High ethical standards with a commitment to maintaining compliance and transparency.
- Strong work ethic and ability to thrive in a fast-paced, dynamic environment.
- Team-oriented with a collaborative mindset.
- Positive Culture: Be part of a supportive and innovative leadership team.
- Impactful Role: Play a critical role in shaping the financial future of a growing firm.
- Competitive Compensation: Enjoy a generous salary, performance bonuses, and benefits package.
- Professional Growth: Opportunities for career advancement and ongoing professional development.
- Work-Life Balance: Flexible work arrangements to support a healthy balance between personal and professional life.
