Senior Strategic Pricing Manager

2 months ago

New York, United States MAP SSG Inc Full time

As a member of the Financial Reporting and Analysis team, the Strategic Pricing Manager will advise and support partners in developing and implementing fee arrangements and matter budgets, where they will work directly with existing and prospective clients developing pricing structures aimed at delivering cost-effective results (aligned with the client business objectives).

The Strategic Pricing Manager will drive improvement in the firm's pricing through strategic and tactical pricing advice, manage the financial analytics of alternative fee arrangements (AFA) and play an integral role in identifying and implementing solutions that leverages various data sources to improve the firm's matter planning and budgeting operations.

The Strategic Pricing Manager will work closely with our senior analysts and finance specialists as they develop tools and techniques to plan and assess projects and will support decision-making by those who are managing our engagements and practices.

Responsibilities

  • Work closely with the Director of Financial Reporting and Analysis to drive pricing initiatives forward as it relates to the strategic pricing process improvements, partner education, internal and external communication strategies, and materials development.
  • Work with partners to develop, negotiate and implement appropriate fee arrangements that meet both the client's budget and pricing demands and internal firm requirements. This includes supporting partners in client pricing conversations.
  • Work with key stakeholders to support the development of profitable pricing solutions in response to client RFPs and informal pricing requests. This includes collaborating with the business development team to ensure fee proposals are consistent with the strategic goals of the firm and appropriately capture value.
  • Contribute to the preparation of various templates and robust financial pricing models with analyses to help provide partners with projected outcomes for alternative pricing arrangements.
  • Work with the firm's financial analysts and specialists to oversee pricing model developments, ensure analysis complies with request and quality standards, and facilitate efficient workflow.
  • Review of fee arrangements, special provisions and terms and conditions of client engagements to ensure compliance with firm-wide policies and procedures. This also includes drafting language for non-standard engagement letters pertaining to the financial terms of an agreement.
  • Capture and effectively leverage current market information in pricing decisions, which includes identifying and developing fee arrangements specific to key practice areas and industries.
  • Track competitive market data and pricing trends by region, practice area and other relevant differentiators. Stay abreast of current trends and recommend updates to existing pricing models.
  • Implement effective reporting and systems to assist partners in monitoring client engagements against a baseline metric (which includes estimates, budgets and AFAs).
  • Help review, determine, and implement annual increases in standard billing rates based upon the market and other factors. This includes recommending initial rates for new hires, as well as setting rate changes when changes in compensation or relocations occur.
Qualifications
  • A minimum of 6 years of experience in a Finance / Accounting related role in a law firm environment.
  • Experience with pricing, rates, budgeting, financial analysis for law firms is essential.
  • Excellent analytical, project management, prioritization and organization skills.
  • Strong knowledge of statistical methods, specifically in the areas of modeling and business analytics.
  • Demonstrate flexibility to adapt quickly to change in a high pressure, deadline-driven environment.
  • Excellent attention to detail with ability to accurately execute deliverables in a timely manner.
  • Effectively communicate within a diverse cultural business environment, both verbally and in writing; which includes partners, internal stakeholders and external clients.
  • Ability to work independently with minimal supervision in a fast-paced environment with changing work priorities.
  • Experience with law firm technology such as Aderant and high proficiency in Microsoft Excel.
  • Ability to both inspire confidence and maintain confidentiality.

Salary: $250 - 300K

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