Working Capital Manager

Purpose:The Working Capital Manager is responsible for leading and optimising the firm's end-to-end working capital cycle, with primary accountability for work in progress, billing, accounts receivable and collections. The role works closely with partners, fee earners and Finance stakeholders to improve cash conversion, strengthen financial discipline and provide clear insight into working capital performance and risk.The role requires a commercially astute finance professional who can interpret complex financial information, identify matters requiring intervention and influence senior stakeholders to take timely action. The Working Capital Manager drives consistent processes and accountability from time recording and WIP management through to accurate billing and cash collection.Experience and Qualifications:At least 8 years' relevant experience in working capital, revenue management, billing, credit control or collections.Experience in a legal or professional services environment strongly preferred.Demonstrated experience managing the matter lifecycle from WIP and billing through to collection.Experience engaging and influencing senior stakeholders essential.Previous leadership or supervisory experience advantageous.Experience with Elite 3E or a comparable practice management system advantageous.Relevant qualification in Finance, Accounting, Business Management or a related field required.A professional finance, credit management or related qualification would be advantageous.Key Accountabilities:Working Capital Strategy and PerformanceLeads the firm's end-to-end working capital cycle across WIP, billing, accounts receivable and collections.Develops and implements plans to improve cash conversion, reduce ageing and strengthen working capital performance.Identifies emerging risks, trends and opportunities and recommends appropriate action to Finance leadership.Supports the setting and monitoring of working capital targets, service standards and accountabilities.Work in Progress and BillingReviews WIP regularly and identifies matters requiring billing, transfer, write-off or further investigation.Engages partners and fee earners on aged and unbilled WIP and drives agreed actions to completion.Oversees the timely and accurate conversion of WIP into client invoices in line with client agreements and applicable requirements.Monitors time recording, disbursements, narratives, taxes, fee arrangements, budgets and fee caps to support accurate billing.Supports the resolution of complex billing queries and cross-office billing matters.Accounts Receivable and CollectionsOversees accounts receivable balances and drives the collection of outstanding client accounts.Develops and monitors collection plans with partners, fee earners and the relevant Finance teams.Tracks overdue and high-risk accounts and ensures appropriate escalation and follow-up.Supports decisions relating to payment arrangements, credit limits, account holds, bad-debt provisions and write-offs.Drives the achievement of agreed monthly and annual collection targets. Cash Flow, Reporting and Analysis Provides accurate and timely working capital reports, forecasts and analysis to Finance leadership and relevant stakeholders.Supports cash-flow forecasting by analysing expected billing, collections and working capital movements.Translates financial data into clear insights, risks and actions for partners and management.Monitors performance against agreed KPIs and follows up on material variances.Partner and Stakeholder EngagementBuilds strong working relationships with partners, fee earners, Finance teams and other business services stakeholders.Conducts regular working capital and revenue reviews with relevant practice groups and stakeholders.Constructively challenges delays, poor practices and missed commitments relating to time recording, billing and collections.Promotes accountability and consistent financial discipline across the firm.Process Improvement and Governance Reviews and improves working capital policies, procedures, controls and reporting processes.Identifies opportunities to streamline workflows, improve data quality and reduce billing and collection delays.Ensures activities comply with firm policies, client agreements and applicable regulatory requirements.Supports internal and external audits and ensures working capital queries are resolved promptly.Maintains accurate records and reliable management information.Team Leadership and Capability BuildingProvides clear direction, guidance and support to employees within the role's area of responsibility.Monitors performance and delivery against agreed objectives and service standards.Provides training and guidance to Finance employees, Legal PAs and relevant stakeholders on time recording, billing and working capital processes.Promotes collaboration, continuous improvement and a high-performance culture.Accounts Payable and Supplier ManagementWhere included in the final scope, supports oversight of the supplier payment cycle and the management of appropriate payment terms.Works with the Accounts Payable team to align supplier commitments with cash-flow requirements and expected client receipts.Identifies supplier-related risks and opportunities that may affect liquidity and working capital.Supports improvements to supplier controls, payment processes and reporting. Communication and TeamworkMaintains open, accurate and timely communication with Finance leadership and internal stakeholders.Works collaboratively across Finance, legal teams, offices and business services functions.Handles sensitive financial information with discretion and sound judgement.Behavioural Competencies / Performance DriversclientsAchievement OrientationAdaptabilityAnalytical ThinkingAttention to DetailInitiativeInteractive CommunicationProblem SolvingRelationship BuildingSelf-ConfidenceStrategic ThinkingStress ManagementTeamwork Technical Competencies / Professional ExpertiseWorking Capital ManagementWIP and Billing ManagementAccounts Receivable and CollectionsCash-flow Forecasting and AnalysisFinancial ReportingCredit and Financial Risk ManagementProcess and Control ImprovementPractice Management SystemsPeople and Performance ManagementInternal Communication:Partners and fee earnersFinance leadership and Finance teamsLegal PAs and business services stakeholdersManagement and governance forums External Communication:ClientsAuditorsBanks and service providersSuppliers, where applicableCompetencies:Achievement OrientationAnalytical ThinkingAttention to DetailInteractive CommunicationProblem SolvingRelationship BuildingSelf-ConfidenceStrategic ThinkingWorking Capital ManagementFinancial Planning and ReportingRisk and Control ManagementPlanning and OrganisingResults Management"Bowmans is committed to achieving the objectives set in its transformation charter, and the targets in its employment equity plan. All recruitment decisions will be taken with due consideration being given to these objectives”