Senior Trust Accountant

Crowell & Moring LLP is an international law firm with offices in the United States, Europe, MENA, and Asia that represents clients in litigation and arbitration, regulatory and policy, intellectual property, and transactional and corporate matters. The firm is internationally recognized for its representation of Fortune 500 companies in high-stakes litigation and government-facing matters, as well as its ongoing commitment to pro bono service and diversity, equity, and inclusion.

Job Summary

The Senior Trust Accountant manages the client trust function in compliance with individual state IOLTA rules and the firm’s own accounting and risk management procedures. This role is responsible for overseeing all aspects of trust accounting including complex reconciliations and process improvement initiatives.  The Trust Accountant works closely with Finance leadership and internal stakeholders to ensure that highly sensitive client money is handled, accounted for and reported accurately.  The role requires a deep understanding of trust accounting principles, a proactive approach to identifying and resolving issues and the ability to advise and mentor other team members.

Job Responsibilities

• Oversee daily receipts into firm trust accounts and ensure deposits are in compliance with state IOLTA rules and firm guidelines.
• Manage workflow for high volume of trust disbursements to clients: track approvals, collect/review supporting documents, and ensure payments are issued accurately and on time.
• Analyze trust account activity and prepare financial schedules and reports for Finance leadership.
• Lead process improvement efforts to optimize trust accounting operations including the automation of routine tasks and implementation of best practices.
• Serve as Trust subject matter resource; maintain up to date knowledge of individual state IOLTA rules and applicability to routine law firm trust transactions; advise finance leadership on compliance and operational issues.
• Proactively communicate with partners, attorneys, and finance leadership to action or return residual trust balances and prevent unnecessary aging.
• Escalate compliance concerns to finance leadership and general counsel
• Record transactions according to firm and trust accounting best practices and procedures.
• Prepare and review trust account reconciliations including reconciling trust bank accounts to trust ledger and general ledger.  Research and review reconciling items,
• Mentor and provide guidance to accounting staff and Claims Recovery team on trust accounting procedures.