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Senior Analyst for Billing and Rate Management
3 months ago
Stikeman Elliott, a leading corporate law firm in Canada, is in search of a meticulous and proactive Senior Billing and Rates Analyst to enhance our dynamic team. This position plays a crucial role in collaborating with legal professionals and management to ensure precision in billing, rate administration, and accounts receivable processes while fostering improvements and aiding financial decision-making.
Key Responsibilities:
Billing Management:
- Cultivate relationships with Lawyers and Legal Administrative Assistants (LAAs) to gain insights into billing practices and cycles, facilitating the preparation and issuance of accurate Client invoices in line with firm policies and Outside Counsel Guidelines (OCGs).
- Proactively engage with Lawyers to review aged Work in Progress (WIP) and clarify billing timelines.
- Assist the Manager in liaising with Lawyers to achieve monthly billing objectives.
- Aid the Manager in addressing billing inquiries and resolving disputes or discrepancies.
- Respond to inquiries from Clients and Lawyers regarding invoices, providing solutions to billing issues and coordinating necessary adjustments.
- Offer prompt assistance to resolve eBilling rejections and stay informed on eBilling guidelines to ensure compliance.
Rate Management:
- Support the management of billing rate agreement renewals and requirements for new clients and matters.
- Ensure consistency across the firm regarding rate structures.
- Collaborate with Management and Senior Financial Analysts to formulate strategic recommendations for rate adjustments based on financial performance, ensuring competitiveness and alignment with market trends.
Accounts Receivable & Cash Application:
- Oversee accounts receivable aging and lead collection efforts for overdue accounts in collaboration with Finance Committee, Management, Lawyers, LAAs, and Clients.
- Review and prepare write-offs and refunds according to firm policies.
- Maintain precise records of collection activities and their status.
- Assist in the accurate and timely application of cash receipts, ensuring proper allocation to Client accounts.
- Investigate and resolve discrepancies in cash applications and follow up on unapplied cash receipts weekly.
Reporting and Analysis:
- Generate aged accounts receivable reports and analyses for Management.
- Prepare quarterly WIP and accounts receivable files for distribution to Lawyers, LAAs, and Management, tracking responses for write-offs.
- Compile monthly WIP accruals for Clients and upload to eBilling platforms as necessary.
- Provide insights and recommendations based on billing, rates, WIP, and accounts receivable data to support financial modeling and decision-making.
- Assist the Manager with ad-hoc reporting and analysis as required.
System and Process Enhancements:
- Identify opportunities and recommend process improvements to enhance efficiency and accuracy in billing and accounts receivable functions.
- Implement best practices and standard operating procedures (SOPs) to streamline workflows and minimize errors.
- Support system implementations, upgrades, and enhancements related to billing, rates, and accounts receivable functions.
- Advocate for the adoption of new technologies and share knowledge/training with other firm members.
Qualifications:
- Bachelor's degree in Accounting, Finance, Business Administration, or a related field is preferred.
- Minimum of 3 years of proven experience in full cycle billing, rates, accounts receivable, and cash applications, ideally within a law firm or professional services environment.
- Strong understanding of legal billing practices and rate management.
- Demonstrated success in driving process improvements and implementing system enhancements in billing and accounts receivable functions.
- Advanced proficiency in Excel (e.g., pivot tables, xlookups, sumifs, etc.) is an asset.
- Familiarity with legal accounting software such as Aderant is preferred.
- Strong critical thinking and exceptional communication skills, both written and verbal, with the ability to collaborate effectively with internal and external stakeholders.
- Ability to swiftly identify problems and provide effective solutions.
- A team player who takes initiative and works well independently.
- Capability to handle new tasks and make sound decisions to assist the Manager with ad-hoc requests, issues, and escalations.
- Detail-oriented with strong organizational skills and the ability to prioritize tasks and meet deadlines in a fast-paced environment.
Note: Stikeman Elliott is committed to accommodating individuals with disabilities as part of our hiring process. If you have special requirements, please inform Human Resources during the recruitment process.
