Description

The Pricing Strategist will design, build, and develop pricing strategies that meet Firm profitability goals, working directly with existing and prospective clients on developing fee arrangements, including alternative fee structures, that align with their business goals. The role holder will contribute business analysis (inclusive of data collection and analysis, fact-finding, and stakeholder engagement) to change-oriented projects to drive Firm-wide profitability; support select client teams with the development of appropriate commercial approaches for our clients; provide more robust and regular analysis of key pricing, practice group, and client matter trends that can be applied to proposals and pitches; and support the effective identification and implementation of pricing-related initiatives to enhance the Firm's global pricing capability.

Responsibilities:

  • Engage directly with the Firm Partners, frontline client service teams, and BDMC teams to provide guidance and enablement on pricing, whilst liaising with fee-earning teams on service delivery, and Finance teams on operationalising commercial terms
  • Drive the development of client relationship/matter fee deals:
    • Create appropriate scenario-based models to assess the financial and profitability impact of pricing options
    • Develop feasible pricing solutions that satisfy client objectives and brief decision-makers on the financial implications of various pricing terms
    • Monitor and analyze the financial performance of alternative fee-based matters to identify and communicate best practices to improve future outcomes
    • Provide ‘ad-hoc’ pricing support to client teams to help in the development of fee options
  • Conduct and deliver pricing and profitability analysis on major clients, industry groups, practice groups, and service lines, at the regional or office level:
    • Analyse and interpret client billing and collections data, independently research matters to investigate scope and cost, and engage (where appropriate) with specialist teams to build operational context on historical matters
    • Work closely with the Firm's BDMC team to provide analysis supporting client and practice development initiatives
  • Work as a trusted liaison to the Regional Pricing Committee, and inform commercial decisions:
    • Analyse and interpret the financial impact of pricing and secondment requests;
    • Review of client financial performance to determine the impact of the pricing and secondment arrangements
    • Support strategic discussions with substantive analysis and interpretation of regional financial performance
  • Develop and refine analytical pricing tools:
    • Contribute to the development and ongoing improvement of analytical pricing tools, including the Firm's Global Rate Card, Matter Pricing Tool, and other bespoke tools
    • Enhance and further develop tools and processes to support engagement scoping, budgeting, and analysis
  • Apply pricing-related market intelligence to the development of new pricing arrangements:
    • Interpret available industry pricing trends and competitor rates in the region to inform pricing strategy at timekeeper, client, industry, and practice levels
    • Review and distil findings regularly from key sources of competitive intelligence and client feedback for a briefing to client service and business teams
  • Support the development of pricing-related training and assets:
    • Assist in the development of practice or firm-wide pricing-related training, including (but not limited to) presentations to the financial control community, client managers, and client teams

Skills and Experience:

  • Relevant undergraduate degree required; coursework in business, finance, accounting, math, statistics, or chemistry strongly preferred
  • Proficiency in applications for data analysis, charting, visualization, and presentation: Excel, and PowerPoint; experience with PowerBI, Tableau, and QlikView a plus
  • Rigorous integrated analytical and financial management skills with relevant experience with data manipulation for exploratory analysis and insight generation ideally in a professional services environment; proficiency with Python or R a plus
  • A pro-active, can-do attitude with problem-solving skills
  • Experience or familiarity with purchasing/procurement practices a plus
  • Familiarity with, or an aptitude for the development of, market practices relative to pricing, legal project management, practice innovation approaches, and partnering with emerging providers within a law firm setting; awareness of technology applicable to the function; demonstrated knowledge of the global marketplace for legal and professional services
  • Some familiarity with law firm operations, legal accounting, finance, and the elements of law firm profitability at practice group, service line, client, matter, and attorney level
  • Excellent communication skills; demonstrated ability and desire to work collaboratively with senior-level professionals to help them succeed in meeting their business development objectives
  • Ability to work independently; willingness to work hands-on to achieve objectives in a relatively flat organizational structure
  • Adaptability and ability to work under pressure