What are the responsibilities and job description for the Practice Manager - Financial Services position at McGuireWoods LLP?
Overview:
McGuireWoods, one of the world’s leading law firms, has provided legal solutions to corporate, individual and nonprofit clients since 1834. Diversity and inclusion are essential to how we do business, informing how we recruit, retain and promote lawyers and staff to serve clients. Along with excellent benefits, McGuireWoods offers most employees a hybrid remote option allowing flexibility and work-life balance. Our Applicant Disclosures describe your rights. Our Privacy Statement describes how we will process and safeguard your personal data.
Responsibilities:
The firm is seeking a Practice Manager who will play a key role in the oversight of the assigned department and provide high-level operational support to the Department Chair. The purpose of the role is to work in conjunction with the chair to manage the daily execution of the department’s business and operational functions, such as the financial performance, matter intake, lawyer performance, marketing and business development, and communications and events for the department. The Practice Manager will have decision-making authority as agreed-upon within the guidelines communicated by the Department Chair.
McGuireWoods, one of the world’s leading law firms, has provided legal solutions to corporate, individual and nonprofit clients since 1834. Diversity and inclusion are essential to how we do business, informing how we recruit, retain and promote lawyers and staff to serve clients. Along with excellent benefits, McGuireWoods offers most employees a hybrid remote option allowing flexibility and work-life balance. Our Applicant Disclosures describe your rights. Our Privacy Statement describes how we will process and safeguard your personal data.
Lawyer Performance:
- Monitors lawyer workloads, billable hours, productivity, and time entry compliance. Escalates material anomalies/concerns to the attention of the chair on a routine basis. Ensures follow up on action items.
Financial Performance:
- Partners with the department financial advisor to keep abreast of key performance indicators and to provide guidance to chair with applied insights to assist in the management of the department.
- Proactively oversees accounts receivable, unbilled time, and collections. Escalates material concerns to attention of the chair. Liaises with the chair, finance and accounting team, and department lawyers to facilitate resolution of matter, billing, or process issues. Follows up to ensure completion of action items undertaken by department lawyers.
Matter Intake:
- Reviews and approves routine client and matter intake, conflicts issues, and billing rate exceptions. Researches and escalates issues to the chair, as appropriate.
Marketing/Business Development and Department Expenses:
- Liaises with the marketing and business development team to develop department annual budgets and approve proposed expenditures for marketing/business development in conjunction with the chair.
- Partners with the finance and accounting team to set annual budgets for interoffice travel and deparment meetings in conjunction with the chair.
- Tracks department spend against budgets and does all necessary after action reporting in conjunction with the marketing and business development team.
- Reviews and approves expense reports and vendor invoices and escalates to chair as needed.
Department Communications and Events:
- Liaises with the firm’s administrative departments on behalf of the chair to ensure that department priorities and needs are met.
- Facilitates department meetings, projects, and events in conjunction with the chair and serves as a hub for communications between the chair and department members.
- Coordinates with the chair’s practice assistant and assists as requested by the chair in managing the chair’s calendar and coordinating the chair’s department travel.
- Bachelor’s degree and five years of relevant experience with a record of achievement and increasing responsibility. Direct experience in a law firm or professional services environment preferred.
- Highly organized with an ability to prioritize, multi-task, and meet deadlines.
- Ability to work comfortably with all levels of lawyers and professional staff.
- Emphasis on client service.
- Strong written and verbal communication skills.
- Must work well under pressure, be a problem-solver, and a team player.
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