Assistant Chief Financial Officer
Massey & Gail, LLP
Position Overview
The Assistant Chief Financial Officer (ACFO) of Massey & Gail, see www.masseygail.com, will be a key member of the executive leadership team, responsible for assisting with the overall financial management, strategic financial planning, and operational efficiency of the firm. With the firm’s approximately 30 employees, the ACFO will play a pivotal role in driving financial success and ensuring long-term sustainability in a competitive legal services environment.
The ACFO will work closely with the CFO and the Managing Partner, developing a working knowledge of all aspects of Massey & Gail’s operations. The Firm’s hope and expectation is that the ACFO will, after a sensible amount of time, be promoted to the CFO position and assume all the related responsibilities. This position is primarily onsite at our office in downtown Chicago.
Key Responsibilities
Strategic Financial Management
- Develop and implement financial strategies that align with the firm’s business goals; financial modeling, forecasting, and trend analysis to support decision-making; manage the firm’s databases documenting client rates and recommend/implement rate increases.
Financial Reporting and Compliance
- Knowledge of A/P and A/R functionality, including hands on processing as necessary; preparation of timely and accurate financial reports; familiarity with client billing processes/guideline compliance, assist in invoicing through e-billing platforms; ensure compliance with all applicable legal, tax, and regulatory requirements; liaise with auditors, tax advisors, and regulators; supervise client trust account, including compliance with bar requirements; annual testing of retirement plans, coordinate reporting, and assess and recommend plan changes.
Budgeting and Cost Management
- Assist CFO in annual budgeting process; monitor expenses to maintain profitability; implement processes for efficient expense reimbursements and cost reductions.
Cash Flow and Risk Management
- Monitor and optimize cash flow for operational liquidity and investment capacity; assist CFO in evaluating and managing financial risks, including payment patterns, cashflow, and capital needs; and procure and maintain relevant insurance policies.
Banking and Treasury Management
- Partner with CFO to manage ACH and wire transfers and supervise internal controls and fraud prevention measures.
Technology and Process Improvement
- Identify and implement improvements to the firm’s financial systems and technologies and collaborate with IT supplier to integrate financial tools with case management and billing systems.
Team Leadership
- Contribute to a high-performing finance team; mentor and develop staff, fostering a culture of accountability and continuous improvement; and partner with CFO and finance and operations teams to ensure cross-firm collaboration to meet financial and operational goals.
Qualifications
Required
- Bachelor’s degree in Accounting, Finance, Business or related field; CPA or MBA preferred.
- 8-10+ years of financial experience, preferably in a law firm or other professional services business with at least $10 - 15 million in annual billings and have served as a trusted advisor to executive leadership.
- Detail oriented with excellent follow up and project management skills.
- Strong understanding of law firm-specific financial operations, including billing structures.
- Proficiency in financial software and systems (e.g., QuickBooks, legal billing platforms, and ERP systems).
- Excellent analytical, organizational, and problem-solving skills, including ability to organize and prioritize tasks to meet multiple deadlines under tight time constraints.
- Exceptional communication skills and ability to present complex financial information to non-financial stakeholders.
- Demonstrated ability to work as a team player while also functioning independently and with modest supervision and direction.
- Superb interpersonal skills to ensure (i) seamless integration into the firm’s client services culture that requires collegiality; and (ii) client communications infused with courtesy, diplomacy and tact.
Preferred
- Experience managing financial operations for small to mid-sized firms.
- Familiarity with legal industry trends and challenges like alternative fee arrangements.
- Proven track record of optimizing financial performance in high-revenue environments.
Compensation and Benefits
- $125,000 - $145,000 salary and discretionary annual bonus.
- Health insurance; 401(k) including employer contribution; long- and short-term disability insurance; PTO; parental leave; commuter benefit.
Please send your application materials to info@masseygail.com.
