Senior Billing and Rates Analyst

6 days ago

Toronto, Ontario, Canada Stikeman Elliott Full time

About Stikeman Elliott

Stikeman Elliott is a leading corporate law firm in Canada, recognized for its expertise and commitment to excellence. Our Toronto office is strategically located in the heart of the financial district, providing easy access to public transportation and a dynamic work environment.

Job Summary

We are seeking a detail-oriented and proactive Senior Billing and Rates Analyst to join our dynamic team. In this role, you will collaborate closely with lawyers and management to ensure accurate billing, rate management, and accounts receivable processes while driving process improvements and supporting financial decision-making.

Key Responsibilities

  • Billing:
    • Build relationships with lawyers and legal administrative assistants (LAAs) to develop insight and knowledge of lawyers' practices and billing cycles, assisting with the preparation and issuance of accurate and timely client bills in accordance with firm policies and outside counsel guidelines (OCGs).
    • Proactively meet with lawyers to review and address aged WIP and provide explanations and timing of billings.
    • Support the manager in reaching out to lawyers to help meet monthly billing targets.
    • Support the manager with billing inquiries and issues, resolving billing disputes or discrepancies.
    • Respond to client and lawyer inquiries regarding bills and provide resolutions to billing issues, coordinating billing adjustments as necessary.
    • Provide prompt support to resolve eBilling rejections and stay updated on eBilling guidelines to ensure compliance.
  • Rates:
    • Provide support in managing billing rate agreement renewals and billing requirements for new clients and matters.
    • Provide support in ensuring firm-wide consistency with rate structures.
    • Collaborate with management and senior financial analysts to develop strategic recommendations for rate changes based on financial performance to ensure competitiveness and alignment with market trends.
  • Accounts Receivables & Cash Application:
    • Monitor accounts receivable aging and lead collection efforts for aged accounts with the finance committee, management, lawyers, LAAs, and clients.
    • Review and prepare write-offs and refunds in accordance with firm policies.
    • Maintain accurate records of collection activities and status.
    • Assist with accurate and timely application of cash receipts and ensure proper allocation to client accounts.
    • Investigate and resolve discrepancies in cash applications and follow up on unapplied cash receipts on a weekly basis.
  • Reporting and Analysis:
    • Prepare aged accounts receivable report and analysis for management.
    • Prepare quarterly WIP and accounts receivable files to be distributed to lawyers, LAAs, and management, tracking and following up on responses for write-offs.
    • Prepare monthly WIP accruals for clients and upload to eBilling websites as required.
    • Provide insight 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 Improvements:
    • Identify opportunities and provide recommendations for process improvements to enhance efficiency and accuracy in billing and accounts receivable functions.
    • Identify and implement best practices and standard operating procedures (SOPs) to streamline workflows and reduce errors.
    • Support system implementations, upgrades, and enhancements related to billing, rates, and accounts receivable functions.
    • Champion the adoption of new technologies and share knowledge/training with other firm members.

Requirements

  • Bachelor's degree in accounting, finance, business administration, or a related field preferred.
  • Proven experience (3+ years) in full-cycle billing, rates, accounts receivable, and cash applications, preferably 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.
  • Experience with legal accounting software such as Aderant is preferred.
  • Strong critical thinking skills.
  • Exceptional communication skills, both written and verbal, with the ability to effectively collaborate with internal and external stakeholders.
  • Ability to quickly identify problems and provide solutions.
  • A team player who takes initiative and works well independently.
  • Ability to take on new tasks and make sound decisions to be the right-hand to 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.

Accommodation

Stikeman Elliott is committed to accommodating people with disabilities as part of our hiring process. If you have special requirements, please advise Human Resources during the recruitment process.

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