Description

The Global Pricing Analyst, will support the Senior Manager, Global Pricing & Analytics in preparing and analyzing the underlying data used in the design and negotiation of client relationship fee deals for our major clients (eg, IKC) and advising on the pricing issues of major matters across the firm.

Additionally, this position will provide valuable support to help drive improvements to overall Firm-wide profitability, and will

(1) allow an extension of existing team coverage to provide added support to client teams in the development of appropriate commercial approaches for our clients

(2) provide more robust and regular analysis of key pricing, practice group and client matter trends that can be applied to proposals and pitches

(3) support the greater identification and implementation of pricing-related initiatives in order to enhance the Firm's global pricing capability (eg, proactive follow with client teams in advance of fee agreement expiration)

The role’s key responsibilities will include:

(1) Reporting with a focus on conducting pricing and profitability analysis on clients and practice groups

  • analyze and interpret client billing and collections information and independently research matters and engage (where appropriate) with client teams about the scope and cost of historic matters
  • work closely with the Firm's BD & Marketing organization to provide analysis and reporting to support the Firm's client and practice development initiatives, including
    • conduct periodic pricing and profitability analysis for our IKC and top thousand clients as appropriate, including the development, and maintenance, of client specific 'Heat Maps' and Client Matter Reviews
    • conduct periodic pricing and profitability analysis for our global practice groups, reviewed by area of law or other agreed criteria
  • assist in the preparation, reporting and dissemination of materials to key stakeholders (including CSDs, Client Managers, Practice Group Leads, etc).

(2) Supporting the development of client relationship/matter fee deals

  • create appropriate pricing models to assess the financial and profitability impact under various scenarios
  • assist in developing create feasible pricing solutions that satisfy client objectives
  • monitor and analyze the financial performance on certain alternative fee based matters in order 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

(3) Coordinating competitive intelligence (pricing-related) efforts

  • help support the development of more robust competitive intelligence information on industry pricing trends and competitor rates (where able to gather appropriately)
  • review and distil findings on a regular basis from key sources of competitive intelligence, including Peer Monitor, Valeo Rates Database, NLJ Surveys and client feedback.

(4) Development of analytical pricing tools

  • support the development of Firm-wide analytical pricing tools, including maintenance of the Firm's Global Rate Card, Matter Pricing Tool (and subsequent iterations of) and other bespoke pricing tools developed
  • enhance and further develop tools and processes to support scoping on engagements, budgeting and reporting
  • organize and improve existing collection of Excel-based fee approach templates for wider distribution

(5) Supporting related ad hoc strategic pricing projects as appropriate

  • collaborate with other Firm-wide departments to support strategic pricing projects as required. This will include, but not limited to, the Firm's BD& Marketing, Finance and Operations functions

(6) Support the development of pricing-related training and assets

  • support the development of practice or firm-wide pricing-related training, for example including (but not limited to) presentations to the financial control community, client managers, and client teams
  • maintain oversight of a IKC fee agreement database in order to track pricing arrangements and expiring fee deals.
  • contribute to the development of pricing-related assets as appropriate

Please note that the role will not have any direct reports or budgetary responsibility.

Required Skills

Character

  • Can-do attitude
  • Highly self motivated & self starter
  • Ability to build empathy and trust
  • Proven ability to operate in an international environment, and within a law firm (or professional services) partnership
  • Demonstrable interest in, and understanding of, fundamental pricing concepts and of law firm / professional services pricing approaches
  • Team player
  • Robust - ability to bounce back when challenged
  • Highly flexible
  • Strong influencing skills
  • Persuasive
  • Pragmatic

Practical Experience

  • At least two years of financial analysis experience or equivalent
  • Business development experience is plus but not required
  • Strong analytical skills with the ability to interpret and draw meaningful conclusions from large data sets
  • Ability to develop complex financial models with and without supervision
  • High level of proficiency in Excel, PowerPoint and Word
  • SAP and Tableau experience is a plus
  • Experience working in a large organization

Office Skills

  • Excellent time management
  • Excellent communicator
  • Attention to detail is critical

Commercial Skills

  • Good commercial acumen
  • An understanding of how businesses operate and make decisions
  • Ability to network