Law Firm Chief Financial Officer (CFO)
About How to MANAGE a Small Law Firm
How to MANAGE a Small Law Firm is a fast-growing and highly-entrepreneurial business management, personal development and coaching company, specializing in solo and small law firms. Inc. Magazine has named How to MANAGE a Small Law Firm to its list of the 5,000 fastest growing privately held companies in the United States every year since 2015. We've also been named by Inc as one of the "Best Places To Work".
We are very much a “start-up” with a fast-paced growth focused environment. Working with us can prove to be the best job you ever had or the most frustrating depending on your flexibility, team-spirit, commitment to our clients and your realistic expectations about what it's like to work in a fast-paced growing business.
About the Position
You will function as a practice management advisor, coach, confidant, leader, guide and mentor for up to 30 owners of solo law firms who are already enrolled in our program(s). You will be part of a team consisting of yourself and up to two other team members who serve as the Fractional C-Suite for our clients to help them address different parts of their business.
Owners of large law firms have the benefit of a Chief Financial Officer (CFO) to drive the creation, review and strategic analysis of the law firm's key financial controls. A law firm CFO leverages tools like a Budget Variance Report, WIP Report, A/R Report & Cash Flow Forecast to identify discrepancies between the firm's goals, as outlined in their Business Plan, and the reality they are experiencing, as documented in their financial controls. A good CFO will then help the law firm owner identify opportunities to close that gap between the plan and reality, improving the profitability and growth trajectory of the firm by recommending clear, strategic, forward-looking action to take – based on the numbers the CFO can see through these financial controls.
Solo and small law firm owners who are not yet large enough to justify the investment in a full-time in-house CFO benefit greatly when we provide them with similar assistance by providing them with fractional CFO services as part of a comprehensive Fractional C-Suite of services we offer our clients… serving as their outside Fractional CEO, COO & CFO.
It will be your job to contribute to this team as a Fractional CFO for our clients. Your principal role within our client's Fractional C-Suite will be to hold the client's financial controls in your hand. You will help them establish a core set of key financial reports and teach them how to use them for the powerful tools that they are – to gain new insights into their firm, and drive a profitable strategy going forward.
When they tell you that they don't have time to work the plan, that basic marketing principals or economics don't apply to their specific law firm for some reason, or that they don't need systems or financial controls to operate their firm well, it will be your job to coach them through those excuses and help them remove the roadblocks that are standing between where they are now and where they need to be.
As part of this job, you will measure assigned-client-progress and hold assigned clients accountable for taking positive actions in the direction of their stated goals. Your compensation will be positively affected by the success of our clients assigned to you.
Collaborating within a distributed workforce
This is a remote/virtual position. Other than our live quarterly team meetings (discussed below) this job can be done from your home office. With that said, while a virtual environment lends itself to a great deal of flexibility and efficiencies that are highly prized by most members of our team, this is a very full-time job – requiring over 40 hours per week (often 50 hours per week, for many on our team) for the average Management Advisor to execute successfully.
Each quarter our firm hosts a conference for our members (with hundreds in attendance at each event) at an upscale hotel in locations that rotate across the country. You will be expected to attend these meetings each quarter to maintain close connections with the clients assigned to you, keep yourself apprised of what we are teaching them, and learn all the inside jokes and nuances that keep this community of highly-entrepreneurial lawyers tightly-bound.
You will also be expected to attend weekly team meetings by videoconference for ongoing training, education and to discuss and hear being discussed any “problem cases” you need to remain aware of, and engage in reporting and other conference calls with the other members of the team to keep us all in the loop and ensure each of our clients feels the benefits of having a true collaborative team on their side.
Duties and responsibilities
- Provide individual coaching to your assigned coaching load of up to 30 attorneys who each receive a one hour “monthly diagnostic” call per month, plus a scheduled 30-minute check-in call every week.
- Respond to phone calls from clients in less than 24 hours M-F
- Respond to emails from clients in less than 24 hours M-F
- Review client discussion forum M-F and post as appropriate
- Participate in training and development calls as scheduled to improve your skill set, share your skill set and be able to deliver the same message to the client base as intended in the company curriculum.
- Keep detailed notes on your coaching contacts with clients to document their progress, issues, advice, etc. and use our software program to document this in case you get hit by a bus just like you would want if another member of the team got hit by a bus and it was you that had to take over their caseload
- Provide reports on progress of your assigned clients to your Lead Coach.
- Make available coaching times for clients that will include some after 5pm time slots to accommodate client needs especially clients in different time zones.
- Contribute to the knowledge base of the firm including any or all of the following: write an article, develop a tool or system to share with the clients, create a process, document an explanation, conduct a lesson by teleconference, perform an interpretive dance, etc. (We welcome and encourage creativity – just contribute.)
- Lead/facilitate/participate in group conference calls/webinars as requested from time to time in areas you have particular expertise
Qualifications
- An ideal applicant will have a CPA or MBA with at least 10 years of experience in a CFO-type capacity, preferably including at least 2 years of experience working specifically within a law firm – managing the finances of a law firm.
- Applicants with practical, hands-on experience with the start-up, management and growth of a small business, especially a small law firm, get us particularly excited.
- Finally, because lawyers are notoriously “smart people who can't do math” – and who tend to “hide out” from their numbers – you must be able to demonstrate credible evidence that you are a person who is capable of helping another human being to do what they probably don't want to do, in order to accomplish what they really do want to accomplish. And that you're capable of making complex financial reports simple and accessible to people.
Compensation
Though this job can be performed remotely, this is a full-time, six-figure, salaried W-2 position within How to MANAGE a Small Law Firm. Your compensation will be based on the number of clients you are coaching and how you help them perform, with target compensation being between $110,000 to $140,000 plus full medical and 401K. Opportunities to carve out bonuses and promotion opportunities within the organization to increase your salary above $140,000 are also possible over time.
Applying
Submitting an application should be straightforward using the "Apply Now" button. Please note - if you have applied in one location, you should not apply in other locations. Doing this will not increase your chances of being hired, or seen. Rather, it requires us to delete all of your additional applications. So, the best way to respect your time and ours is to apply once only. You'll know you are in our system when you receive an email with the next steps from Renee Cheatham, who handles much of our recruiting here at How to Manage a Small Law Firm.
Apply Today!
#zr
About How to MANAGE a Small Law Firm
How to MANAGE a Small Law Firm is a fast-growing and highly-entrepreneurial business management, personal development and coaching company, specializing in solo and small law firms. Inc. Magazine has named How to MANAGE a Small Law Firm to its list of the 5,000 fastest growing privately held companies in the United States every year since 2015. We've also been named by Inc as one of the "Best Places To Work".
We are very much a “start-up” with a fast-paced growth focused environment. Working with us can prove to be the best job you ever had or the most frustrating depending on your flexibility, team-spirit, commitment to our clients and your realistic expectations about what it's like to work in a fast-paced growing business.
About the Position
You will function as a practice management advisor, coach, confidant, leader, guide and mentor for up to 30 owners of solo law firms who are already enrolled in our program(s). You will be part of a team consisting of yourself and up to two other team members who serve as the Fractional C-Suite for our clients to help them address different parts of their business.
Owners of large law firms have the benefit of a Chief Financial Officer (CFO) to drive the creation, review and strategic analysis of the law firm's key financial controls. A law firm CFO leverages tools like a Budget Variance Report, WIP Report, A/R Report & Cash Flow Forecast to identify discrepancies between the firm's goals, as outlined in their Business Plan, and the reality they are experiencing, as documented in their financial controls. A good CFO will then help the law firm owner identify opportunities to close that gap between the plan and reality, improving the profitability and growth trajectory of the firm by recommending clear, strategic, forward-looking action to take – based on the numbers the CFO can see through these financial controls.
Solo and small law firm owners who are not yet large enough to justify the investment in a full-time in-house CFO benefit greatly when we provide them with similar assistance by providing them with fractional CFO services as part of a comprehensive Fractional C-Suite of services we offer our clients… serving as their outside Fractional CEO, COO & CFO.
It will be your job to contribute to this team as a Fractional CFO for our clients. Your principal role within our client's Fractional C-Suite will be to hold the client's financial controls in your hand. You will help them establish a core set of key financial reports and teach them how to use them for the powerful tools that they are – to gain new insights into their firm, and drive a profitable strategy going forward.
When they tell you that they don't have time to work the plan, that basic marketing principals or economics don't apply to their specific law firm for some reason, or that they don't need systems or financial controls to operate their firm well, it will be your job to coach them through those excuses and help them remove the roadblocks that are standing between where they are now and where they need to be.
As part of this job, you will measure assigned-client-progress and hold assigned clients accountable for taking positive actions in the direction of their stated goals. Your compensation will be positively affected by the success of our clients assigned to you.
Collaborating within a distributed workforce
This is a remote/virtual position. Other than our live quarterly team meetings (discussed below) this job can be done from your home office. With that said, while a virtual environment lends itself to a great deal of flexibility and efficiencies that are highly prized by most members of our team, this is a very full-time job – requiring over 40 hours per week (often 50 hours per week, for many on our team) for the average Management Advisor to execute successfully.
Each quarter our firm hosts a conference for our members (with hundreds in attendance at each event) at an upscale hotel in locations that rotate across the country. You will be expected to attend these meetings each quarter to maintain close connections with the clients assigned to you, keep yourself apprised of what we are teaching them, and learn all the inside jokes and nuances that keep this community of highly-entrepreneurial lawyers tightly-bound.
You will also be expected to attend weekly team meetings by videoconference for ongoing training, education and to discuss and hear being discussed any “problem cases” you need to remain aware of, and engage in reporting and other conference calls with the other members of the team to keep us all in the loop and ensure each of our clients feels the benefits of having a true collaborative team on their side.
Duties and responsibilities
- Provide individual coaching to your assigned coaching load of up to 30 attorneys who each receive a one hour “monthly diagnostic” call per month, plus a scheduled 30-minute check-in call every week.
- Respond to phone calls from clients in less than 24 hours M-F
- Respond to emails from clients in less than 24 hours M-F
- Review client discussion forum M-F and post as appropriate
- Participate in training and development calls as scheduled to improve your skill set, share your skill set and be able to deliver the same message to the client base as intended in the company curriculum.
- Keep detailed notes on your coaching contacts with clients to document their progress, issues, advice, etc. and use our software program to document this in case you get hit by a bus just like you would want if another member of the team got hit by a bus and it was you that had to take over their caseload
- Provide reports on progress of your assigned clients to your Lead Coach.
- Make available coaching times for clients that will include some after 5pm time slots to accommodate client needs especially clients in different time zones.
- Contribute to the knowledge base of the firm including any or all of the following: write an article, develop a tool or system to share with the clients, create a process, document an explanation, conduct a lesson by teleconference, perform an interpretive dance, etc. (We welcome and encourage creativity – just contribute.)
- Lead/facilitate/participate in group conference calls/webinars as requested from time to time in areas you have particular expertise
Qualifications
- An ideal applicant will have a CPA or MBA with at least 10 years of experience in a CFO-type capacity, preferably including at least 2 years of experience working specifically within a law firm – managing the finances of a law firm.
- Applicants with practical, hands-on experience with the start-up, management and growth of a small business, especially a small law firm, get us particularly excited.
- Finally, because lawyers are notoriously “smart people who can't do math” – and who tend to “hide out” from their numbers – you must be able to demonstrate credible evidence that you are a person who is capable of helping another human being to do what they probably don't want to do, in order to accomplish what they really do want to accomplish. And that you're capable of making complex financial reports simple and accessible to people.
Compensation
Though this job can be performed remotely, this is a full-time, six-figure, salaried W-2 position within How to MANAGE a Small Law Firm. Your compensation will be based on the number of clients you are coaching and how you help them perform, with target compensation being between $110,000 to $140,000 plus full medical and 401K. Opportunities to carve out bonuses and promotion opportunities within the organization to increase your salary above $140,000 are also possible over time.
Applying
Submitting an application should be straightforward using the "Apply Now" button. Please note - if you have applied in one location, you should not apply in other locations. Doing this will not increase your chances of being hired, or seen. Rather, it requires us to delete all of your additional applications. So, the best way to respect your time and ours is to apply once only. You'll know you are in our system when you receive an email with the next steps from Renee Cheatham, who handles much of our recruiting here at How to Manage a Small Law Firm.
Apply Today!
#zr
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