Location: Portland, ME preferred. Firm has other offices in Portsmouth, NH; Boston, MA; and Providence, RI.
Position Summary
The Director of Finance serves as a key strategic and operational administrative leader and primary financial and accounting advisor to firm management. This role oversees all financial operations, including day-to-day accounting (AP, AR, and GL), budgeting, financial planning and analysis, ad hoc requests (FP&A), billing team oversight, collections, treasury oversight, cash flow management, and compliance. The Director ensures the financial health and sustainability of the firm while supporting profitability analysis, firmwide compensation analysis, overhead cost management, and data-driven decision-making. This position balances hands-on operational management with high-level strategic input, leading a finance team of 10-12 professionals.
Key Responsibilities
- Direct firmwide financial operations, including general ledger accounting, accounts payable/receivable, payroll, trust accounting, balance sheet reconciliation oversight, and month-end/year-end closings.
- Lead annual budgeting, forecasting, financial modeling, and variance analysis; prepare monthly, quarterly, and annual financial reports for the Management Committee, Practice Group Leaders, and partners, with occasional presentation responsibilities.
- Oversee billing processes and team ensuring prompt professional service to billing attorneys and clients, while minimizing professional staff administrative burdens, including but not limited to development and refinement of workflows, bill rate oversight, client and matter maintenance, conflict checks, collections, realization rate monitoring, firm KPIs, and monitor matter-level profitability analysis to optimize revenue cycles.
- Manage day-to-day cash flow, banking relationships, capital contributions, partner draws/compensation, and debt/covenant compliance (LOCs) where applicable.
- Ensure compliance with GAAP, tax regulations, state bar rules (including IOLTA/trust accounting), and other regulatory requirements. Coordinate accounting, tax and compliance, partnership governance management, external auditors, and tax preparers.
- Provide strategic financial analysis on practice group performance, pricing decisions, occasional due diligence with lateral hires and mergers/acquisitions, and business development initiatives.
- Lead, mentor, and develop the finance team, including recruitment, performance management, process improvements, and fostering a collaborative solutions-oriented culture.
- Implement and optimize financial systems (e.g., Aderant, Elite 3E, LMS /SurePoint or similar) and internal controls to enhance efficiency and data integrity.
- Support firm leadership on special projects, including profitability modeling, compensation planning, and long-term financial strategy.
Experience Expectations
- 10+ years of progressive experience in accounting or finance, with at least 5–7 years in a leadership or managerial role.
- Prior experience in a law firm or professional services environment is strongly preferred, ideally in a midsized firm ($50M–$150M+ revenue range). Experience in multi-office regional firms is advantageous.
- Demonstrated success managing financial operations for organizations, preferably professional services, of comparable complexity, including billing/collections, and profitability analysis.
- Hands-on experience with law firm-specific financial metrics (e.g., realization, utilization, aged AR and WIP, profitability, and direct/indirect overhead analysis) and systems.
Qualifications and Requirements
- Education: Bachelor’s degree in Accounting, Finance, Business Administration, or a related field (required). MBA or master’s in finance/accounting is preferred.
- Certifications: CPA (Certified Public Accountant) is preferred but not required, assuming appropriate operational accounting experience demonstrated; other credentials (e.g., CMA) are a plus.
- Technical Skills: Proficiency with law firm financial software (e.g., Aderant, Elite, SurePoint LMS or equivalent), advanced Microsoft Excel/financial modeling, and financial reporting tools. Familiarity with GAAP and tax compliance.
- Leadership and Soft Skills: Proven team leadership, excellent communication and presentation skills (particularly explaining complex financial data to non-financial attorneys), strategic thinking, attention to detail, and the ability to thrive in a fast-paced environment. Ability to lead change management initiatives by driving process improvements, implementing new systems, and supporting adoption across teams in various roles and across offices.
Other: Impeccable ethical standards, confidentiality, and client-service orientation.
To apply, please submit your cover letter and resume to Maria Gaetani at mgaetani@pierceatwood.com.
The target salary range for this position varies by location and is commensurate with relevant experience: $150,000-$225,000.