LHH Recruitment Solutions is working with a top full-service law firm in NYC to find their next Partnership Analyst Accountant.
Essential Duties and Responsibilities:
- Maintain Permanent Capital accounts for the Capital Partners, including managing receipt of capital contributions or return of capital in alignment with the firm’s partnership agreement.
- Preparation of monthly Partner draws; assure proper computation of payments, monitoring of ongoing changes and ensure correct withholding from draws for retirement contributions, taxes, insurance, and other miscellaneous additions or deductions, etc.
- Responsible for periodic special distributions to Partners, assuring proper computation of payments, monitoring of ongoing changes and ensure correct withholding from distributions for retirement contributions, taxes, insurance, and other miscellaneous additions or deductions, etc.
- Preparation of monthly or other periodic payments to Retired Partners and similarly situated individuals who will receive a K-1.
- Responsible for the distribution of monthly draw and special distribution memos to Partners, leveraging technology, where possible.
- Ensure timely recording of journal entries supporting monthly draws and special distributions, with strong attention to detail and accuracy.
- Monthly preparation of account reconciliations that support the Partnership Accounting function, ensuring accuracy and completeness of information.
- Participate in the onboarding and withdrawals of Partners to/from the firm.
- Preparation of Return of Capital computations, resulting in payment to withdrawn partners, and related monthly memos.
- Complete Verification of Income letters upon request from partners, for review and signature by Chief Financial Officer.
- Participate in the firm’s annual year end audit, with specific focus on Partnership Accounting related accounts.
- Participate in the preparation workpapers in support for the creation of Partnership Schedule K-1s.
Knowledge, Skills and Abilities
- Bachelor’s degree in Accounting, Finance, or equivalent and 3-5 years of progressive accounting/financial experience is required. Prior experience with all areas of partnership accounting, K-1’s, and partnership business models in a large legal or professional services financial department is also required.
- Proficient experience with MS Excel spreadsheets, including features such as pivot tables, charts and graphs and formulas, MS Word and PowerPoint software is required.
- Outstanding analytical and critical-thinking skills requiring an aptitude for detail, precision, and logic with comprehensive knowledge of complex accounting/financial principles and statistics in order to synthesize detailed information, collect and research data, use intuition and experience to complement data, and design workflows and procedures.
- Understand business implications of decisions, display orientation to profitability, demonstrate knowledge of market and competition, and align work with strategic goals. Work within approved budget, develop and implement cost saving measures, contribute to profits and revenue, and conserve firm resources.
- Exhibit high degree of initiative in exercising independent judgment and making decisions in managing multiple priorities and coordinating various projects in a fast-paced, deadline-driven, detail-oriented work environment.
- Excellent interpersonal, verbal, and written communication skills.
- Ability to generate creative solutions, translate concepts and information, use feedback to modify procedures, apply conceptual principles, and demonstrate attention to detail.
- Excellent organizational skills including record keeping, data collection, and system information. Ability to compile and analyze data, and furnish concise, detailed information in report format, written correspondence, e‑mail, or verbally.
- Required to work towards deadlines; must be able to work more than 35 hours per week in New York.