To work with the Director of Pricing to design, build and develop client budgets and implementation of legal service and pricing strategies to provide alignment to clients' needs and meet Firm profitability goals for the EMEA region; work directly with existing and prospective clients in the region on developing service delivery models, fee arrangements, analytics and tools aligned to their business goals.
To work with the Director of Pricing to develop value-based fee structures including alternative fee structures and work closely with members of the Firm’s Finance team to develop metrics and tools for measuring profitability and the impact of the Firm’s pricing strategies; assist in creation of the Firm’s performance monitoring and reporting, help optimize client service delivery models, and develop metrics that allow clients to qualify and quantify the value they are realizing through partnering with the Firm.
To work closely with the Business Development team in the EMEA region in preparing client Requests For Proposals (RFPs); collaborate with Partners, Firm leadership, senior management, marketing, finance and IT on coordination and relationship management of key client relationships.
- Work in close cooperation with Director of Pricing to enhance and implement standardized pricing capabilities and governance
- Lead and direct the team in the region to implement a pricing program to support matter management, particularly for those matters with budgets or other alternative fee arrangements
- Engage and assist in rate and fee conversations and negotiations directly with key clients and in cooperation with Firm Partners for the EMEA region
- Collaboratively develop fee options in partnership with clients
- Work with the Director of Pricing to drive alignment between client needs and initiatives with the resources of the Firm including, but not limited to value based billing, alternative fee arrangements, pricing, legal service delivery, new product development and innovation
- Act as a sophisticated purchaser in the EMEA region on behalf of clients' legal operations, creating value-based fee structures according to the client needs and expectations
- Implement the Firm’s global pricing strategy in the EMEA region creating pricing models that align price with the value of individual client arrangements
- Work with and guide the client financial analysis team in the preparation of client fee arrangements; create competitive pricing proposals by analyzing historical cost data, leverage, and matter information
- Assist in analysis of existing client relationships and comparable arrangements to offer pricing alternatives that provide predictability to the clients and meet Firm profitability goals
- Develop economic models to assess the profitability of new business proposals and assist in the development of creative pricing solutions
- Work with the Director of Pricing to oversee the financial and pricing responses for client RFP submissions and other client pitch materials in the EMEA region
- Support existing technologies to support pricing and reporting strategy and metrics to track performance against budget and financial standards, both for individual matters and overall client relationships; utilize the technologies available to drive efficiencies for the Firm and its clients
- Participate in client meetings in the region to determine client needs at the macro level as well as the practice and matter level when appropriate
- Monitor profit margins for client fee arrangements to ensure that the Firm stays on track to complete legal matters profitability
- Work closely with members of the Finance function and practice management teams to ensure that proposed AFAs for specific engagements are aligned with the Firm’s overall objectives and expectations for each matter
About the Candidate
Technical skills, qualifications and experience
- Relevant undergraduate degree required; an MBA is strongly preferred
- Significant experience of pricing strategy with good management experience in a global setting, ideally in a professional services environment
- Proficiency in law firm operations, legal accounting and finance
- Strong understanding of the elements of law firm profitability at practice group, service line, client, matter and attorney level
- Rigorous integrated analytical and financial management skills
- High level of familiarity with, or an aptitude for 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
- Outstanding 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
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