Key Inventory Manager – Investment Management

Position summary

The role is primarily responsible for the end to end ownership and strategic management of the work in progress (WIP), billing, and accounts receivable (AR) lifecycle for the Investment Management group. Acting as the primary owner of the practice group's book of business, this position exercises significant independent judgment and discretion in establishing billing priorities, determining billable amounts and timing, and authorizing write-offs, with the objective of optimizing revenue realization, cash flow, and partner efficiency.

This is a highly autonomous role that functions as the central decision-maker for day-to-day revenue cycle management for the Investment Management practice. While the role works in close partnership with the assigned Partner/Client Relationship Leader (CRL) and provides regular updates and recommendations, it is empowered to independently advance routine billing, write-offs, and revenue actions in accordance with Firm policies. The position proactively identifies risks, prioritizes actions, and independently advances billing and collection activities in alignment with Firm policies, client requirements, and business objectives. The role supports and collaborates with other Key Inventory Managers and Revenue Accounting Operations personnel to maintain an optimal revenue cycle and serves as a pivotal point of accountability for a large, complex portfolio of Investment Management matters.

Job duties and responsibilities

• Assume full ownership of the revenue cycle (WIP, billing, write-offs, and AR management) for the Investment Management Group, with accountability for controlling and reducing days to bill and days to collect.
• Serve as the primary manager and owner of the Investment Management Group's book of business, acting as the single point of accountability for revenue performance across assigned matters.
• Exercise significant independent judgment and discretion in managing billing strategy, including determining billing priorities, billable amounts, billing timing, and the appropriateness of write-offs, in accordance with Firm policies, client arrangements, and sound business judgment.
• Function as the central decision-maker for day-to-day revenue cycle management, independently advancing routine billing, write-offs, and revenue actions while keeping Partners informed through regular communication.
• Proactively manage weekly billing activity and provide structured updates to the Partner(s) at the beginning of each week outlining priorities, anticipated billings, areas of focus, risks, and planned actions.
• Provide end-of-week updates to the Partner(s) summarizing actions taken, outcomes achieved, issues addressed, and upcoming priorities.
• Actively manage accounts through analysis, administration, coordination of service delivery, and ongoing relationship management with assigned clients to ensure timely, accurate, and compliant billing and collections.
• Develop, design, and execute detailed billing and collections strategies for assigned matters and ensure plans are met.
• Monitor trends, aging, and exceptions within WIP and AR, evaluate revenue risks, and take proactive corrective action.
• Reduce burdens for Partners by independently driving revenue-related actions and decisions for the Investment Management Group.
• Liaise with Secretaries, Billers, Collectors, e-Billing teams, and Revenue Operations to facilitate the revenue process, including quality control, workload balancing, and issue resolution.
• Monitor collections activity and coordinate with the Collections team to advance AR resolution.
• Proactively monitor e-billing compliance and independently address and resolve issues with internal teams and clients.
• Ensure all client and/or partner requests related to billing and revenue are addressed appropriately, timely, and in alignment with Firm standards.
• Develop and execute year-end billing and collections plans for the Investment Management Group.
• Identify opportunities to improve billing processes, revenue realization, and reporting through independent analysis and recommendations.
• Apply judgment to adapt revenue processes to evolving client, practice, and Firm needs.
• Other duties related to accounts as assigned by Assistant Director - Key Inventory & Revenue Control.

Job duties and responsibilities included are not exhaustive and may be supplemented asnecessary.  Reed Smith reserves the right to revise or modify job duties and responsibilities at any time. 

Requirements

Education: Bachelor's Degree in Accounting or Finance; or equivalent experience required. 

Experience: Four years in comparable responsible accounting position required. Experience with billing/collections accounting systems preferred. Experience in a law firm or other service environment a plus.

Skills: Excellent PC skills, including MS Office Suite (Word, advanced Excel, and PowerPoint) and experience with an accounting/billing system. Possess a general knowledge of accounting theories and practices. Exceptional organizational and time management skills. Must possess great interpersonal and communication skills. Attention to detail and accuracy are critical skills necessary for ensuring precision and quality in all tasks and responsibilities. Ability to handle multiple tasks on a daily basis and complete assignments within set timelines. Keen problem-solving and troubleshooting abilities and solutions-oriented thinking. Ability to think creatively and propose innovative ideas or approaches to solve problems or improve processes. Ability to use independent judgment and discretion and adapt to changing work situations. Ability to work under pressure with composure and resilience in a fast-paced and dynamic work environment. Ability to communicate effectively, orally and in writing, with various personalities at all levels.

Additional information

Supervisory responsibilities: None. 

Equipment used: Personal computer and other office equipment such as telephone,  calculator, copier, scanner, etc.

Essential job functions

• Ability to sit or stand for extended periods and perform tasks requiring prolonged and/or extensive computer use.
• Ability to use computers, telecommunications, and digital collaboration tools to perform core job responsibilities.
• Ability to communicate effectively.
• Ability to maintain attention to detail while analyzing complex information, managing multiple priorities, and applying sound judgment to strategic decisions.
• Ability to work extended hours as required to meet project, client, or business needs.

Working conditions

You will be required to work in the office at minimum 4 days per week. Occasionally called upon to work hours in excess of your normal daily schedule. The details of your weekly schedule will be discussed further with your direct supervisor.

Pay ranges

This represents the presently anticipated low and high end of Reed Smith's pay range for this position. Actual pay may vary based on various factors, including but not limited to location and experience.

New York: $140,000 - $160,000

Employee benefits overview

Our comprehensive benefits package includes:

• 401(k) Retirement Plan
• Medical Insurance
• Health Savings Account (HSA)
• Virtual Health Services
• Dental Insurance
• Vision Insurance
• Accident Insurance
• Hospital Indemnity Insurance
• Critical Illness Insurance
• Life Insurance
• Short-Term Disability Coverage
• Long-Term Disability Coverage
• Flexible Spending Accounts (FSA)
• Lyra Health Employee Assistance Program (EAP)
• Paid Family Leave (for eligible Exempt and Non-Exempt staff)
• Transportation Benefit
• Back-up Child Care Services
• College Coach Program
• Pet Insurance
• Paid Sick Time (for Exempt staff)
• Paid Time Off (available to all full-time, non-temporary employees)

Reed Smith offers a challenging work environment, business casual dress code and a total compensation package that includes a competitive salary, flexible benefits program, tuition assistance, and generous 401(k) plan.

Reed Smith is an Equal Opportunity Employer with Core Values of Integrity, Excellence, Teamwork & Respect, Innovation, and Impact. Reed Smith also provides reasonable accommodations in accordance with law, including in the application and interview process.

Qualified candidates only. No search firms.