What are the responsibilities and job description for the Partnership Accountant position at Mayer Brown?
Overview
Mayer Brown is an international law firm positioned to represent the world’s major corporations, funds, and financial institutions in their most important and complex transactions and disputes. We are recognized by our clients as strategic partners with deep commercial instincts and a commitment to creatively anticipating their needs and delivering excellence in everything we do.
We are a collegial, collaborative, and diverse firm where highly motivated individuals with an unwavering commitment to excellence receive the opportunity, support, and development they need to grow, thrive, and realize their greatest potential all while supporting the Firm’s client service principles of excellence, strategic partnership, commercial instinct, integrated strengths, innovation, and collaboration across our international firm.
If you enjoy working with team members whose defining characteristics are exceptional client service, initiative, professionalism, responsiveness, and adaptability, you may be the person we are seeking to join our Accounting & Analysis department in our Chicago or New York office as an Partnership Accountant.
This senior level position supports the Tax and Partnership Accounting Team in all aspects related to partner compensation, including capital, taxes, bank loans and personal charges.
Responsibilities
- Maintain the partner profit allocation schedule; calculate partner compensation including monthly draws and distributions payments
- Facilitate the partner draw and distribution payments; create partner payroll schedule and work with the Payroll Department to ensure accurate processing of the payments
- Track partner movements on a monthly basis; calculate income for withdrawing partners to ensure it’s in compliance with the partnership agreement
- Maintain the partner paid-in-capital including : annual contributions, interest on capital calculation, coordinating partner capital bank loans and return of capital payments related to change in capital requirement and partner retirements / withdrawals
- Prepare budget and forecast schedules related to partner payments
- Prepare annual partner projection and partner account summary statements
- Perform year-end close out process; prepare journal entries related to the close-out
- Prepare all other relevant journal entries for the equity accounts
- Conducts various analyses on balance sheet accounts which includes reconciliations where necessary
- Assist with ad-hoc requested related to partner compensation, including preparation of income verification letters, partner capital, partner deductions, etc.
- Perform other duties as assigned or required to meet Firm goals and objectives
Qualifications
Education / Training / Certifications :
Professional Experience :
Technical Skills :
Performance Traits :
The typical pay scale for this position in New York is between $105,380 and $121,190, although the actual wage or salary could be lower or higher if the candidate’s education, experience, skills and internal pay alignment are different from those specified.
The above is a general description of the essential duties associated with this position and does not represent an exhaustive or comprehensive list of all duties.
The Firm may modify and amend this job description at any time at its sole discretion. Nothing herein creates a contract of employment or otherwise modifies the at-will nature of employment.
We offer competitive compensation and comprehensive benefits, including medical / dental / vision / life / and AD&D insurance, 401 (k) savings plan, back-up childcare and eldercare, generous paid time off (PTO), as well as opportunities for professional development and growth.
Salary : $105,380 - $121,190
