Chief Financial Officer – Professional Services

Chief Financial Officer (CFO)

Experience: 15 – 20 Years

Qualification: CA (preferred) / MBA in Finance

Location: Mumbai

Position Overview:

We are looking for an experienced Chief Financial Officer (CFO) to lead the finance function of a reputed law firm. The CFO will be responsible for the firm’s overall financial strategy, planning, profitability, cash-flow management, taxation, compliance, partner reporting and financial governance.

The ideal candidate will have strong experience in a professional services environment, preferably with exposure to law firms, consulting firms, Big 4/accounting firms or other partnership-led organisations. The candidate should combine strong financial and technical expertise with commercial acumen and the ability to work closely with Partners and senior leadership.

Key Responsibilities:

Financial Strategy & Planning:

– Develop and implement the firm’s overall financial strategy in alignment with its business objectives.

– Lead annual budgeting, financial planning, forecasting and variance analysis.

– Develop short- and long-term financial plans and scenarios based on business plans, projects and growth objectives.

– Analyse the firm’s financial performance, strengths, risks and areas of improvement, and provide actionable strategic recommendations.

– Support the Managing Partners/CEO in evaluating new practice areas, office expansion, strategic investments and other business initiatives.

– Develop financial models and business cases to support strategic decision-making.

Financial Performance & Profitability:

– Monitor and drive revenue, profitability, cash flow and working-capital performance.

– Track and analyse partner-wise, practice-area-wise and matter-wise profitability.

– Identify opportunities for cost optimisation, improved margins and operational efficiency.

– Prepare regular financial and business-performance reports for the Managing Partners and Partners.

– Ensure transparency and accuracy of financial information and provide timely insights into potential risks and opportunities.

– Develop financial dashboards and MIS to enable effective management and partner decision-making.

Billing, Collections & Revenue Management:

– Oversee client billing, revenue recognition, WIP and debtor management.

– Monitor billing efficiency, collections, outstanding receivables and realisation rates, and drive continuous improvement.

– Ensure speed, accuracy and discipline in billing and client payment processes.

– Work closely with Partners and relevant teams to improve collections, cash conversion and overall revenue realisation.

Treasury, Banking & Fund Management:

– Lead the firm’s banking, treasury and cash-management activities.

– Maintain adequate liquidity and ensure stable and efficient cash flow.

– Manage short- and long-term borrowing requirements, fund mobilisation and financing arrangements, where applicable.

– Develop relationships with banks and financial institutions and negotiate appropriate banking and financing arrangements.

– Identify appropriate sources of funding while maintaining an optimal cost of capital.

Taxation, Compliance & Financial Governance:

– Oversee taxation, accounting, statutory and regulatory compliance requirements.

– Ensure timely preparation and submission of all required tax and financial documentation.

– Establish and strengthen financial controls, policies, processes, approval mechanisms and governance frameworks.

– Ensure appropriate controls over partner, employee and client financial information and maintain the highest standards of confidentiality.

– Identify and proactively communicate financial, operational and compliance risks to the Partners and senior management.

Partner & Leadership Support:

– Manage financial aspects of partner compensation, drawings, distributions and profitability, as applicable.

– Provide Partners and senior leadership with clear, timely and commercially relevant financial insights.

– Propose corrective action plans to ensure that annual financial and business objectives are achieved.

– Act as a strategic finance partner to the Managing Partners/CEO on business planning and financial decisions.

Team Leadership:

– Lead, mentor and develop the Finance & Accounts team.

– Build a strong, process-driven and technology-enabled finance function.

– Drive improvements in financial processes, reporting quality, controls and turnaround times.

Candidate Profile:

– CA preferred; MBA in Finance from a reputed institution will be an advantage.

– 15 – 20 years of relevant experience, including significant experience in a senior finance leadership role.

– Strong experience in professional services, with candidates from law firms, Big 4, consulting/accounting firms or other partnership-led organisations preferred.

– Strong understanding of professional-services billing, collections, WIP, revenue management and profitability analysis.

– Demonstrated experience in FP&A, budgeting, forecasting, cash-flow management, treasury and financial controls.

– Strong knowledge of taxation, financial reporting, statutory compliance and governance.

– Proven ability to build and interpret financial models, predictive models and financial scenarios.

– Strong analytical and commercial acumen, with the ability to convert financial data into actionable business insights.

– Experience working closely with Partners, Managing Partners, CEOs and other senior stakeholders.

– Excellent leadership, communication, stakeholder-management and team-building skills.

– High level of integrity, confidentiality, ownership and professional maturity.

– Strong technical acumen and the ability to leverage financial systems, MIS and technology to improve decision-making and operational efficiency.

Key Competencies:

Financial Strategy – FP&A – Professional Services Finance – Partner Reporting – Billing & Collections – WIP & Revenue Management – Profitability Analysis – Cash-Flow Management – Treasury & Banking – Taxation – Financial Controls – MIS & Financial Reporting – Financial Modelling – Cost Optimisation – Risk Management – Leadership

Preferred Background:

Candidates currently working with a law firm, Big 4, consulting/professional services organisation, accounting firm or other partnership-driven business will be preferred.