Our Client is a full service commercial law firm based in London’s legal district. They have more than 60 partners and over 300 employees. The Finance department is made up of a central management team, Cashiers, Billing and Credit Control teams.
Due to recent growth of the Firm and increased focus on pricing and profitability, we are looking to hire an experienced, ambitious and self-motivated Commercial Pricing Manager. This individual will be a key member of the finance department and will be focused on building a robust method for assessing profitability at a client, team, and office level. They will also work closely with the Business management team to look at practice improvement initiatives focusing on the way work is delivered.
Responsibilities
Develop a strong understanding of the Firm’s departments, practice groups and clients to help execute strategic pricing initiatives and strategies. Assist in streamlining the annual rates setting process, including development of office specific rates and review all client specific rates. Work with partners to review profitability of their clients and suggest alternative resourcing models. Run profitability analysis to help Practice Group Heads and other senior stakeholders to fully evaluate fee proposals and make appropriate business decisions for the Firm. Communicate with the business to discuss pricing strategies, brainstorm creative fee proposals, facilitate effective rate management and implement, and optimise efficiencies. Contribute to the creation and automation of matter budgets and matter management initiatives in collaboration with the Working Capital team. Contribute to the development and implementation of new pricing services and tracking mechanisms to generate new business and manage the success of existing arrangements. Create strategic staffing solutions based on different alternative fee arrangements in partnership with other team members. Take ownership of client RFP and pricing requests and work closely with colleagues in Business Development to coordinate related decision making. Prepare robust models and templates to support analysis of a wide range of fee proposals utilising Firm financial metrics. Implement a process for post matter reviews. Responsible for ad hoc analysis requests for internal and external clients. Investigate the use of budgeting tools, as there isn’t currently a budgeting tool available and most people use Excel but we would like to explore other available products on the market. Review the unit cost model that drives the current profitability calculations and ascertain whether there is a more appropriate or simpler method for calculating cost rates. Candidate Profile
Minimum of two years+ related experience preferably in a legal or professional services environment. Knowledge of law firm Financial Management System, such as 3E would be an advantage. Knowledge of Legal Industry KPIs and competitive landscape preferred. Experience in Procurement or RFP response. Advanced Excel skills. Strong attention to detail and excellent written and verbal communication skills. Excellent organisational and management skills with an ability to prioritise and complete simultaneous projects with minimal supervision. Ability to work collaboratively across teams and build working relationships across the Firm. Protect and maintain confidential and sensitive information. Highly motivated and enthusiastic self-starter with a can-do attitude. Results and delivery driven with a commitment to quality of work. Takes ownership and actively looks for personal learning and development opportunities. Flexible nature and willingness to adapt and take on additional duties as the business evolves. Important Notice
It is Career Legal’s policy, as a matter of courtesy, to respond to all applications within three working days. However, because of the volume of applications, we are sometimes unable to respond to individual candidates. If we have not contacted you within three working days, your application has been unsuccessful, and your details have not been retained. Please apply for any other position that you may see in the future. Thank you. Career Legal is a Recruitment Agency and is advertising this vacancy on behalf of one of its clients.
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Develop a strong understanding of the Firm’s departments, practice groups and clients to help execute strategic pricing initiatives and strategies. Assist in streamlining the annual rates setting process, including development of office specific rates and review all client specific rates. Work with partners to review profitability of their clients and suggest alternative resourcing models. Run profitability analysis to help Practice Group Heads and other senior stakeholders to fully evaluate fee proposals and make appropriate business decisions for the Firm. Communicate with the business to discuss pricing strategies, brainstorm creative fee proposals, facilitate effective rate management and implement, and optimise efficiencies. Contribute to the creation and automation of matter budgets and matter management initiatives in collaboration with the Working Capital team. Contribute to the development and implementation of new pricing services and tracking mechanisms to generate new business and manage the success of existing arrangements. Create strategic staffing solutions based on different alternative fee arrangements in partnership with other team members. Take ownership of client RFP and pricing requests and work closely with colleagues in Business Development to coordinate related decision making. Prepare robust models and templates to support analysis of a wide range of fee proposals utilising Firm financial metrics. Implement a process for post matter reviews. Responsible for ad hoc analysis requests for internal and external clients. Investigate the use of budgeting tools, as there isn’t currently a budgeting tool available and most people use Excel but we would like to explore other available products on the market. Review the unit cost model that drives the current profitability calculations and ascertain whether there is a more appropriate or simpler method for calculating cost rates. Candidate Profile
Minimum of two years+ related experience preferably in a legal or professional services environment. Knowledge of law firm Financial Management System, such as 3E would be an advantage. Knowledge of Legal Industry KPIs and competitive landscape preferred. Experience in Procurement or RFP response. Advanced Excel skills. Strong attention to detail and excellent written and verbal communication skills. Excellent organisational and management skills with an ability to prioritise and complete simultaneous projects with minimal supervision. Ability to work collaboratively across teams and build working relationships across the Firm. Protect and maintain confidential and sensitive information. Highly motivated and enthusiastic self-starter with a can-do attitude. Results and delivery driven with a commitment to quality of work. Takes ownership and actively looks for personal learning and development opportunities. Flexible nature and willingness to adapt and take on additional duties as the business evolves. Important Notice
It is Career Legal’s policy, as a matter of courtesy, to respond to all applications within three working days. However, because of the volume of applications, we are sometimes unable to respond to individual candidates. If we have not contacted you within three working days, your application has been unsuccessful, and your details have not been retained. Please apply for any other position that you may see in the future. Thank you. Career Legal is a Recruitment Agency and is advertising this vacancy on behalf of one of its clients.
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