The Role of a Practice Manager in a Law Firm
A practice manager in a law firm plays a crucial role in overseeing the operations and business functions of a specific department. They work closely with the department chair to ensure the smooth running of the department and provide high-level support in various areas such as financial management, lawyer performance, marketing and business development, and department communications and events. The practice manager also has decision-making authority within the guidelines set by the department chair.
McGuireWoods, a leading global law firm, is currently seeking a Practice Manager for their debt finance department. The role will be based in multiple locations including Chicago, Pittsburgh, Atlanta, Charlotte, and New York. The firm has been providing legal solutions to clients since 1834 and prides itself on its commitment to diversity and inclusion in the workplace. In addition to competitive benefits, McGuireWoods offers a hybrid remote work option for most employees, promoting work-life balance.
Responsibilities of a Practice Manager
The primary responsibilities of a practice manager in a law firm include overseeing lawyer performance, financial management, matter intake, marketing and business development, and department communications and events. Some specific duties include:
Lawyer Performance:
- Monitoring lawyer workloads, billable hours, productivity, and time entry compliance
- Identifying and escalating any concerns or anomalies to the department chair
- Ensuring follow-up on action items
Financial Performance:
- Collaborating with the department financial advisor to track key performance indicators and provide insights to the department chair
- Proactively managing accounts receivable, unbilled time, and collections
- Escalating any financial concerns to the department chair and working with the finance and accounting team to resolve any issues
Matter Intake:
- Reviewing and approving client and matter intake, conflicts issues, and billing rate exceptions
- Conducting research and escalating any issues to the department chair
Marketing/Business Development and Department Expenses:
- Collaborating with the marketing and business development team to develop annual budgets and approve expenditures for the department
- Setting annual budgets for interoffice travel and department meetings in partnership with the department chair
- Tracking department spend and providing after-action reporting
- Reviewing and approving expense reports and vendor invoices
Department Communications and Events:
- Coordinating with the firm's administrative departments on behalf of the department chair
- Facilitating department meetings, projects, and events in partnership with the department chair
- Serving as a communication hub between the department chair and department members
- Assisting the department chair with managing their calendar and coordinating travel
Qualifications for a Practice Manager
To be successful in this role, candidates should possess a bachelor's degree and at least five years of relevant experience with a proven track record of achievement and increasing responsibility. Direct experience in a law firm or professional services environment is preferred. Other qualifications include:
- Strong organizational skills and ability to prioritize and multitask effectively
- Comfortable working with lawyers and professional staff at all levels
- Emphasis on providing excellent client service
- Excellent written and verbal communication skills
- Ability to work well under pressure, solve problems, and collaborate as a team
In Conclusion
The role of a Practice Manager in a law firm is crucial in ensuring the smooth and efficient operation of a specific department. They work closely with the department chair to manage various aspects of the department's business and operational functions, including financial management, lawyer performance, marketing and business development, and department communications and events. McGuireWoods, a top global law firm, is currently seeking a Practice Manager for their debt finance department, offering a competitive salary and a hybrid remote work option for most employees. If you have the required qualifications and a passion for providing excellent client service, this could be the perfect opportunity for you. Apply now and join the McGuireWoods team.
