Role – Senior Partnership Accounting Analyst
POSITION SUMMARY:
Summary for the Senior Partnership Accounting Analyst (Hybrid)
The Senior Partnership Accounting Analyst is responsible for supporting the Director of Partnership Accounting with all aspects of Firm Partnership accounting including the analysis of all transactions relating to Partner remuneration and related equity accounting, preparation of Partners K1’s, as well as, tax projections, and Partnership tax reporting and is responsible for preparing, auditing, and reconciling the Firm’s daily cash flow and borrowing/investment results.
Additionally, the Senior Partnership Accounting Analyst will assist the Director of Partnership accounting with any ongoing projects including research, presentation, documentation and analysis review. Duties are performed personally, in collaboration with the Director of Partnership Accounting, and/or through delegation/supervision of subordinates. The Senior Partnership Accounting Analyst maintains professionalism and strict confidentiality in all client and Firm matters.
This position can be located in either the Chicago, New York or the Washington, D.C. office.
• Assist with cash account analysis by auditing and reviewing cash account reconciliations for operating and borrowing/investment accounts. Act as liaison with various bank representatives.
• Maintain Permanent Capital accounts for the Capital Partners, including managing payment of any distributions and receipt of contributions.
• Review Partner draws; assure proper allocation of payments, monitoring of ongoing changes and ensure correct withholding from draws of retirement, taxes, insurance, etc.
• Assist the Director of Partnership Accounting with annual review and preparation of Partner compensation, assure accuracy and completeness of the data.
• Review schedule for preparation of Schedule K-1’s and coordinate distribution to Partners.
• Respond quickly to questions from Partners and tax advisors regarding the K-1’s.
• Summarize tax issues in a clear, concise and easy to understand format.
• Review and update journal entries into the accounting system or general ledger as required.
• Assist the Director of Partnership Accounting in preparation of monthly and year-end closings ensuring accurate financial reporting.
• Coordinate and transition additions and withdrawals of Partners to/from the Firm.
• Implement funding and withholding of contributions to qualified retirement plans, including computations of contribution accruals.
• Review records for non-qualified retirement plans, including computation and payment of benefits, filing insurance claims and coordination with outside advisors.
• Assist the Director of Partnership Accounting with various ongoing projects to present to Executive leadership.
• Provide support to the Director of Partnership Accounting with research and preparation for presentations.
• Lead initiatives to streamline existing processes to allow broad implementation of policies.
• Proactively work to find new and innovative ways to improve the accounting department, allowing for more flexibility and completeness of data.
Supervisory Responsibilities
• Directly supervises and manages employees and is responsible for their overall direction, coordination, and evaluation. Carries out supervisory responsibilities in accordance with the Firm’s policies and applicable laws.
Knowledge, Skills and Abilities
• Bachelor’s degree in Business, Finance, or equivalent (advanced degree preferred), CPA license and 7-10 year’s progressive accounting/financial experience with a strong background in all areas of partnership accounting are required; or equivalent combination of education and experience. Experience with K-1’s and partnership business models in a large legal or professional services financial department is also required. Knowledge of domestic accounting and tax guidelines/standards is preferred.
• Computer proficient with extensive knowledge and understanding of accounting database systems, contact management, Internet, project management, Microsoft Excel and Word processing software.
• Outstanding analytical and critical-thinking skills requiring an aptitude for detail, precision, and logic with comprehensive knowledge of complex accounting/financial principles and statistics in order to synthesize detailed information, collect and research data, use intuition and experience to complement data, and design workflows and procedures.
• Understand business implications of decisions, display orientation to profitability, demonstrate knowledge of market and competition, and align work with strategic goals. Work within approved budget, develop and implement cost saving measures, contribute to profits and revenue, and conserve Firm resources.
• Exhibit high degree of initiative in exercising independent judgment and making decisions in managing multiple priorities and coordinating various projects in a fast-paced, deadline driven, detail-oriented work environment.
• Excellent interpersonal, verbal, and written communication skills. Ability to communicate with courtesy and diplomacy, articulate positions and information clearly, and maintain effective relationships with a diverse group of attorneys, Firm Management, and administrative personnel.
• Ability to generate creative solutions, translate concepts and information, use feedback to modify procedures, apply conceptual principles, and demonstrate attention to detail.
• Excellent organizational skills including record keeping, data collection, and system information. Ability to compile and analyze data, and furnish concise, detailed information in report format, written correspondence, e-mail, or verbally.
• Proven leadership characteristics including the ability to achieve results through others, establish multiple priorities and projects, handle complex relationships, and develop employees are critical. Ability to respond effectively to the most sensitive inquiries or complaints.
• Supervisory/managerial skills necessary in order to interact and communicate with key administrative staff, provide instruction/direction, determine organizational priorities, and coordinate the activities of a work team.
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