Role details

Partner Remuneration Manager

City of London   •   £40,000 - £45,000   •  Permanent

Bullet points

  • Magic Circle Law Firm
  • Based in Canary Wharf

About Our Client

A is a multinational law firm headquartered in London, United Kingdom, and a member of the "Magic Circle" of leading British law firms.

Job Description

Quarterly unit calculations and maintenance

  • Tracking of equity partners' units movements throughout the year.
  • Reviewing retirement agreements and secondment contracts.
  • Calculating units for midyear joiners and leavers, as well as applying the annual unit increases in the master file.
  • Calculating maternity units reduction and communicating with the partners concerned.
  • Quarterly reconciliations with overseas financial controllers and reporting departmental split to worldwide finance group.
  • Building the annual budgeted units file for the following year.
  • Providing external audit with the final units for sign-off, and detailed back up and reconciliation to units in the official Partner Register.
  • Question and challenge any interpretations by Partnership Management, to ensure units are calculated correctly.

Partners Drawings

  • Reviewing and updating actual payments reported by overseas financial controllers, and querying any discrepancies.
  • Completing a detailed audit check for internal auditors on UK payments as well as overseas drawings, comparison to the wallpaper.
  • Preparing payment instructions for UK Equity Partners, updating, posting and reconciling figures in the global file.
  • Post journals to ledger and reconcile relevant accounts.

Special Distribution

  • Working with the Partner Remuneration Controller assisting in the preparation of the quarterly profit distribution schedules.
  • Calculating information needed for the profit share calculation e.g. partners insurance levels and charges for the online display tool for partners.
  • Providing private ledger reconciliation and the split for the Special Distribution Calculator display.
  • Preparing UK payment instructions, updating and posting journals for UK payments.
  • First point of contact for queries regarding private ledger, monthly payments and insurance from partners.


  • Liaising with external insurance brokers, life insurance companies and disability insurance company regarding the policy, rates, partners' queries and any adhoc issues.
  • Preparation of annual update note to send to current partners and new joiners, involving liaison with the Head of Partner Capital & Taxation and the Director of Regulatory Risk.
  • Point of contact for partners e.g. advising them on their levels of cover etc.
  • Involvement in the annual renewal negotiation with insurers
  • Reconciliation of invoices and accounting records. Post journals to ledger and reconcile the relevant accounts.

Annuities - profit related

  • Updating annually the annuity calculations for retired partners.
  • Reconciling annuity units against register kept outside the department.
  • Reviewing letters to be sent to retired partners enclosing the annual R185 tax forms.
  • Preparing and posting journals to accounting system, and reconciling relevant accounts.

Private Ledger

  • Reconciliation and checking of all partners private ledger items (life/ disability/ medical insurance/ dental/ car parking).
  • Gathering charges and posting journals to the ledger.

Partner Capital

  • Responsible for ensuring all Equity Partners have contributed correct capital to the firm, at the appropriate time.
  • Liaising with banks ahead of each capital call to agree documentation and process.
  • Ensuring annual increase due to lockstep changes in partner units is applied correctly.
  • Ensuring all movements in partner capital are captured accurately and completely in the accounting records and any repayments are made in a timely fashion - i.e. joiners, leavers and units changes.
  • Quarterly reconciliation to external banks totals.
  • Preparing and posting journals to accounting system, and reconciling relevant accounts.

Reconciliation work

  • Reconciling partner remuneration accounts on a regular basis (working with the Partner Remuneration Controller).

The Successful Applicant

  • You will have several years experience working in a busy finance department which will have included data input, posting journals and reconciliations

  • You will be a team player who is able to share knowledge with the Remuneration and Partner, Capital and Tax teams and communicate any changes in advance

  • You must be currently studying for a relevant Accountancy qualification (AAT, ACCA, CIMA) and be ideally degree level educated
  • You will be advanced in MS Excel and have a working knowledge of MS Word and an Accounting system

What's on Offer

A starting salary of £40,000-£45,000

Apply for this job

Click the Apply or LinkedIn button below or contact Edward Davey quoting job reference 13706661
As you are using an Apple iOS device we are unable to offer you the CV upload function. Please apply with your Linkedin profile below or contact Edward Davey quoting job reference 13706661