Life of a Legal Finance Compliance Officer

Guest writer, ILFM Member and Finance Compliance Officer, Christine Hirons from Pinsent Masons LLP

I recently reached the milestone of working for 35 years at Pinsent Masons LLP which, when I think about it, seems a very long time ago…

Beginning my finance career in a Law firm

I won’t say how old I was when I started (that would give my age away!) but back in 1988 things were very different to what they are now.  I had done my apprenticeship in a couple of industrial firms working in the back office, so to speak, and then through a friend, got an interview in the accounts department at Pinsent & Co (as it was back then). 

The firm consisted of two offices in Birmingham and London; I think there were probably a total of fifteen people in the accounts department.  I fondly remember the tea lady with the trolley doing the rounds at 11am and again at 3pm with the added treat of a chocolate biscuit on a Friday!

My job then was “accounts assistant” and people laugh now when I tell them I used to record all the Counsels’ fees in a big red book and tick them off once they were paid, pre-digital living and working seems so strange to them! This was years before we had swanky computers with Microsoft Windows. All we had was some Commodore monstrosity that we inputted the Partners’ time sheets into and then had to rig up a huge gold ball printer (the kind where the paper comes in big rolls with holes punched down the side) and cross your fingers that a pre-bill came out the other side. Each pre-bill we did manage to print off would have to be manually amended to any agreed rates that were in place.  We had no emails, only memos printed on paper. If you needed someone, you picked up the phone.

Growth of the Firm

The Partnership went through mergers in 1995, 2001 and finally in 2004 to become Pinsent Masons LLP.  

As the firm grew, my personal life changed direction too and I became a single mother of two small children.  It was tough, I can tell you, trying to juggle work and looking after them.  At work, the finance department was partitioned off into distinct operating functions and I joined the Billing Team.

If my memory serves me right, it was around 1996 that I decided to study with the AAT (and did that at college, on a Monday evening, for the next 4 years).  I subsequently added an A-Level in Business Studies as I was clearly a glutton for punishment. Having an AAT accounting qualification really helped with my finance knowledge; however AAT doesn’t cover all rules and regulations needed to work in a law firm. After a colleague at work mentioned the Institute of Legal Finance & Management (ILFM) and their legal finance qualifications specifically for law firm accounting, compliance and regulations, I started to enquire. 

The ILFM trainers came into Pinsent Masons a couple of times to do some bespoke training with the team and once I became an ILFM member, I studied for my ILFM diploma (one mark off a distinction, which was annoying!).

I have attended a few external seminars and webinars, run by the ILFM, mostly in connection with the new SRA Accounts Rules, and found them very interesting and informative.

Change and Progression

Fast forward to 2016 and the firm looked very different. My colleagues and I moved into new offices in Birmingham and as a firm, Pinsent Masons now had over 20 offices across 4 continents. Billing was a whole new ball game!  

Billing required dealing with multiple currencies around the world, and I became one of the senior members of the Billing Team, working for the Revenue Manager.  My role evolved into more of a forensic mode, whereby on one hand I would be investigating errors or anomalies that had occurred, whilst on the other hand, chasing unbilled disbursements or residual monies left in client account. 

At one point, I dipped my toes into the world of e-billing, but I’m afraid that’s not for me!

In the meantime, my own personal achievement whilst working, studying and single parenting, was that I managed to get both my children through university with both now working in great careers that they excel in and love, albeit at opposite ends of the country!  I’m very proud of them.

Promotion in Legal Finance

In mid-2021 I was promoted to Finance Compliance Officer.  This played on my strengths of having years of experience; being on the front line and knowing all the policies and procedures that are in place.

My role has been to document missing procedures and make sure employees are aware of the current policies. A gap analysis of sorts! Of course, our policies were already in line with the SRA Rules and Regulations, but amendments arise and checking any policy in a firm should be an on-going process and consistent work in progress.  As with many roles in progressive law firms, the requirements and responsibilities increase, which is why  I was further promoted to Senior Finance Compliance Officer. I am grateful to have an assistant to help me with the day-to-day tasks.

The one good thing that has come out of the pandemic is that employees can now work from home.  Prior to this, there was no infrastructure in place to facilitate this way of working on a grand scale.  Although I do go into the office on a regular basis (I do enjoy catching up with colleagues too), it has certainly been a life changing experience to be able to work remotely.

A typical day in the life of a Finance Compliance Officer at a large law firm

Once I am up, washed and dressed, the priority is to get some coffee and feed the cat!

Caffeine happy, the old laptop is fired up and I first check my Outlook calendar and emails to see what’s on the day’s agenda. I try to map out my days, but I never quite know what’s going to turn up. 

Although I am not directly involved with file opening and money laundering, I am in daily contact with that team and respond to queries. File opening can be complex when working across offices and tax jurisdictions. The team and I understand that due diligence on sources of wealth are high on the agenda for any law firm, so I am on hand to assist the Billing Team, credit controllers, or the group revenue managers on all aspects of billing and finance, coupled with constant communication with my manager, who is also the COFA for the firm. 

In all, the variety of the role is what I love and that keeps me going and motivated (along with my colleagues, ILFM membership support and wider firm as a whole).  Our firm’s mantra is to go beyond what is expected, challenge ourselves and others, push boundaries and have a strong sense of integrity. If you can achieve that, you finish the day happy 😀