Accounting Escrow Manager (Law Firm)

This is a direct hire position in New York City, New York.

Start Date: ASAP

Duration

Direct Hire

Location

Hybrid in Midtown, New York, New York

Schedule

Monday - Friday | Full-Time

Compensation

$145,000 - $150,000 base compensation (relocation assistance provided)

Our client, a leading national defense litigation firm, seeks an Accounting Escrow Manager for their New York City (Midtown) office. This position leads and directs the team responsible for the accurate, compliant, and secure management of the firm's IOLTA, client trust, escrow, and other fiduciary accounts. The role requires exceptional attention to detail, strong accounting expertise, sound judgment, and the ability to ensure the team maintains accurate and auditable financial records.

Responsibilities:

Trust & IOLTA Accounting

• Direct the team responsible for the administration and accounting of IOLTA, client trust, escrow, and other fiduciary accounts.
• Ensure the team properly safeguards client and third-party funds.
• Establish and maintain appropriate controls over the receipt, transfer, and disbursement of client funds.
• Monitor account activity for unusual transactions, outstanding items, or potential compliance issues.
• Ensure earned fees are transferred from client trust accounts to Firm operating accounts only when properly authorized and supported.
• Manage banking relationships and coordinate the opening, modification, and closing of escrow and trust accounts.
• Maintain accurate client and matter-level records for all funds held in trust or escrow.

Three-Way Reconciliation

• Ensure the team performs timely monthly three-way reconciliations of trust accounts, ensuring agreement among:
• Bank statements and cleared transactions; General ledger/book balances; and Individual client/matter ledgers.
• Direct team members in researching and resolving reconciliation discrepancies promptly.
• Ensure the team maintains complete supporting documentation for reconciliations and adjustments.
• Monitor aged outstanding checks, deposits, and other reconciling items and direct team members in resolving them appropriately.

Settlement & Escrow Disbursements

• Manage the accounting and disbursement of complex settlement, escrow, and client funds.
• Ensure team members review settlement statements and disbursement instructions for accuracy, authorization, and compliance.
• Direct the coordination of payments to clients, attorneys, medical providers, lienholders, taxing authorities, vendors, and other third parties.
• Ensure team members confir m that required documentation, approvals, lien information, and payment instructions are complete before funds are disbursed.

Compliance & Audit

• Ensure compliance with applicable state bar rules, IOLTA requirements, fiduciary accounting standards, and Firm policies.
• Monitor regulatory requirements affecting client trust and escrow accounts across jurisdictions in which the Firm operates.
• Ensure the team maintains documentation and records necessary to support internal and external audits.
• Direct the team in preparing reports and supporting documentation for state bar examinations, financial audits, and other regulatory reviews.
• Direct the team in coordinating responses to audit inquiries and assisting with remediation of identified findings.

Reporting & Controls

• Oversee the development and maintenance of reporting related to trust balances, reconciliations, outstanding items, settlements, and disbursements.
• Identify opportunities to strengthen internal controls, improve processes, and reduce risk.
• Ensure the team maintains accurate and complete audit trails for all trust and escrow transactions.
• Ensure appropriate segregation of duties and approval controls are maintained.

Qualifications:

• Bachelor's degree in accounting, Finance, Business Administration, or a related field required.
• 10+ Years experience with trust/fiduciary accounting preferably in a law firm
• 3–5 years of progressively responsible legal accounting management experience required
• Direct experience with IOLTA, attorney trust accounting, client trust accounting, or legal escrow accounting required
• Experience managing settlement funds and complex client disbursements are strongly preferred.
• Prior supervisory or team leadership experience required.
• Familiarity with IOLTA requirements and state bar rules preferred.
• Experience with Aderant, Elite, or a comparable financial system preferred

City Staffing is committed to diversity, equity, and inclusion (DEI) in all aspects of our business. As a women-owned and operated business, WBE certified, we recognize the importance of creating an inclusive and welcoming work environment for all individuals regardless of age, race, creed, color, national origin, sex, ability, marital status, gender identity and/or expression, or sexual orientation.