The Finance Department is responsible in conjunction with the Management Board for setting and taking the steps necessary to achieve the firm's financial strategy.
This includes ensuring there are sufficient financial resources to fund the firm's operations and budgeting expenses to ensure the firm achieves the desired level of profitability. The Finance Group also reports on financial performance, and makes recommendations for improving performance.
The Finance Department is also responsible for financial transaction processing, including operating systems for time recording, expense processing, billing and fee collection, as well as maintaining control over the receipt and payment of funds held for clients. These systems also provide management information to enable partners and casehandlers to manage the financial aspects of their practices effectively.
Financial management and processing is decentralised, with those responsible for these aspects working as closely located as possible to the lawyers with whom they work on a day to day basis.