Morrison Foerster
Senior Manager, Partnership Accounting
Morrison Foerster, Los Angeles, California, United States, 90079
Overview
Ready to write your story? Join MoFo as a Senior Manager, Partnership Accounting on our Financial Operations team. This role can be based in San Francisco, Palo Alto, Los Angeles, San Diego, Denver, Austin, Boston, New York or Washington, D.C. About The Role The Senior Manager, Partnership manages all the financial aspects of each individual partner’s ownership of the firm, as well as ensures accuracy and timeliness in payment of distributions. Provide direction to ensure all processes pertaining to partnership accounting are completed timely and in accordance with policy and the Partnership Agreement. Ensure client service and satisfaction are attained in all areas of position.
Oversee and monitor the accounting of individual partner’s capital accounts, ensuring compliance with the Partnership Agreement.
Manage the annual capital funding process in collaboration with the Treasury Team, coordinating with various lenders to arrange for capital loans for partners, and tracking funding progress.
Ensure accuracy of partners’ scheduled distributions and deductions by reviewing each distribution prior to processing payments. Collaborate with Benefits, Retirement, Tax, General Accounting, Accounts Receivable, Practice Admin, Foundation, and other teams to ensure proper and timely deductions and special payments related to each respective team. Prepare written review for Director of Tax and Partnership Accounting detailing all exceptions.
Collaborate with Controller, Tax, Treasury and others to prepare analysis and recommend appropriate true-up gross distribution amounts, as and when paid throughout the year. Communicate distribution amounts timely to partners.
Review wire requests for distributions paid to partners with bank accounts outside or the U.S. and/or payments paid from outside the U.S.
Provide Treasury with annual forecast of monthly and true-up distributions with periodic updates.
Oversee the preparation and timely distribution of individual cash flow schedules for all partners.
Review and provide input to drafts of Offer Letters, Assignment Letters, and Transition Letters as they concern compensation and capital matters.
Review signed offer and assignment letters and ensure the terms of the assignment (compensation, etc.) are adhered to.
Annually prepare the budget for expenses related to Partnership Accounting.
Oversee the annual Points Process by updating and maintaining the spreadsheet used by the Points Committee, ensuring data integrity and functionality through periodic reviews and enhancements.
Monitor, track, and document all changes to allocated points subsequent to the completion of the Points Process, providing updates to firm management as needed.
Calculate each partner’s final annual share of firm net income for the year in accordance with the partnership agreement. Ensure timely dissemination to other teams, as needed.
Provide Tax Team with required data for preparation quarterly earnings statements and annual K-1 schedules.
Provide required schedules and support to Deloitte audit staff in support of the annual mid-year and final financial audits performed by Deloitte.
About You
Bachelors degree required
7 or more years of accounting and financial analyses experience
Expertise in Excel: advanced proficiency including creation and maintenance of spreadsheets and Excel VBA macros
Attention to Detail: thorough preparation and review of information for accuracy and completeness
Communication: excellent written and verbal communication with the ability to present complex ideas succinctly
Time Management: ability to multi-task, prioritize, and plan work to meet deadlines in a fast-paced environment
Client Service Orientation: strong client service ethic with a track record of delivering excellent client satisfaction
Team Collaboration: ability to work with diverse individuals at all organization levels
About MoFo At MoFo, we collaborate as one firm, across borders, practice areas, and business functions and value fresh ideas and innovation.
About Us: https://www.mofo.com/about
Diversity + Inclusion: https://careers.mofo.com/careers-diversity
Commitment to Pro Bono: https://careers.mofo.com/careers-pro-bono
The MoFo Foundation: https://www.mofo.com/culture/mofo_foundation
About Our Benefits MoFo offers a comprehensive benefits package starting on your first day.
A variety of options for medical, dental, vision, life and disability coverage
Industry-leading parental leave and family benefits including adoption and fertility treatment options
Global wellness program, including access to mental health resources
Annual community service day and a birthday holiday
Education reimbursement annually
Dedicated Talent Development team
Competitive annual profit-sharing contribution
Salary ranges are state/city based as required by law. The range shown varies by location and may reflect local market data and the applicant’s skills and experience. New York, San Francisco, Palo Alto: 164,000 – 229,000; Los Angeles, San Diego, Boston, Washington, D.C.: 156,000 – 218,000; Denver: 146,000 – 204,000. For questions, please e-mail jobs@mofo.com.
Locations: San Francisco, Palo Alto, Los Angeles, San Diego, Denver, Austin, Boston, New York, Washington, DC
#J-18808-Ljbffr
Ready to write your story? Join MoFo as a Senior Manager, Partnership Accounting on our Financial Operations team. This role can be based in San Francisco, Palo Alto, Los Angeles, San Diego, Denver, Austin, Boston, New York or Washington, D.C. About The Role The Senior Manager, Partnership manages all the financial aspects of each individual partner’s ownership of the firm, as well as ensures accuracy and timeliness in payment of distributions. Provide direction to ensure all processes pertaining to partnership accounting are completed timely and in accordance with policy and the Partnership Agreement. Ensure client service and satisfaction are attained in all areas of position.
Oversee and monitor the accounting of individual partner’s capital accounts, ensuring compliance with the Partnership Agreement.
Manage the annual capital funding process in collaboration with the Treasury Team, coordinating with various lenders to arrange for capital loans for partners, and tracking funding progress.
Ensure accuracy of partners’ scheduled distributions and deductions by reviewing each distribution prior to processing payments. Collaborate with Benefits, Retirement, Tax, General Accounting, Accounts Receivable, Practice Admin, Foundation, and other teams to ensure proper and timely deductions and special payments related to each respective team. Prepare written review for Director of Tax and Partnership Accounting detailing all exceptions.
Collaborate with Controller, Tax, Treasury and others to prepare analysis and recommend appropriate true-up gross distribution amounts, as and when paid throughout the year. Communicate distribution amounts timely to partners.
Review wire requests for distributions paid to partners with bank accounts outside or the U.S. and/or payments paid from outside the U.S.
Provide Treasury with annual forecast of monthly and true-up distributions with periodic updates.
Oversee the preparation and timely distribution of individual cash flow schedules for all partners.
Review and provide input to drafts of Offer Letters, Assignment Letters, and Transition Letters as they concern compensation and capital matters.
Review signed offer and assignment letters and ensure the terms of the assignment (compensation, etc.) are adhered to.
Annually prepare the budget for expenses related to Partnership Accounting.
Oversee the annual Points Process by updating and maintaining the spreadsheet used by the Points Committee, ensuring data integrity and functionality through periodic reviews and enhancements.
Monitor, track, and document all changes to allocated points subsequent to the completion of the Points Process, providing updates to firm management as needed.
Calculate each partner’s final annual share of firm net income for the year in accordance with the partnership agreement. Ensure timely dissemination to other teams, as needed.
Provide Tax Team with required data for preparation quarterly earnings statements and annual K-1 schedules.
Provide required schedules and support to Deloitte audit staff in support of the annual mid-year and final financial audits performed by Deloitte.
About You
Bachelors degree required
7 or more years of accounting and financial analyses experience
Expertise in Excel: advanced proficiency including creation and maintenance of spreadsheets and Excel VBA macros
Attention to Detail: thorough preparation and review of information for accuracy and completeness
Communication: excellent written and verbal communication with the ability to present complex ideas succinctly
Time Management: ability to multi-task, prioritize, and plan work to meet deadlines in a fast-paced environment
Client Service Orientation: strong client service ethic with a track record of delivering excellent client satisfaction
Team Collaboration: ability to work with diverse individuals at all organization levels
About MoFo At MoFo, we collaborate as one firm, across borders, practice areas, and business functions and value fresh ideas and innovation.
About Us: https://www.mofo.com/about
Diversity + Inclusion: https://careers.mofo.com/careers-diversity
Commitment to Pro Bono: https://careers.mofo.com/careers-pro-bono
The MoFo Foundation: https://www.mofo.com/culture/mofo_foundation
About Our Benefits MoFo offers a comprehensive benefits package starting on your first day.
A variety of options for medical, dental, vision, life and disability coverage
Industry-leading parental leave and family benefits including adoption and fertility treatment options
Global wellness program, including access to mental health resources
Annual community service day and a birthday holiday
Education reimbursement annually
Dedicated Talent Development team
Competitive annual profit-sharing contribution
Salary ranges are state/city based as required by law. The range shown varies by location and may reflect local market data and the applicant’s skills and experience. New York, San Francisco, Palo Alto: 164,000 – 229,000; Los Angeles, San Diego, Boston, Washington, D.C.: 156,000 – 218,000; Denver: 146,000 – 204,000. For questions, please e-mail jobs@mofo.com.
Locations: San Francisco, Palo Alto, Los Angeles, San Diego, Denver, Austin, Boston, New York, Washington, DC
#J-18808-Ljbffr