A rare opportunity has arisen for a senior pricing specialist to join one of the largest City law firms as Head of Client Financial Decision Support. Reporting into the firm's Commercial Finance Director and managing a team of circa 10, this is a brilliant opportunity to build on an existing platform and take the function to the next stage in its evolution. Working closely with the Director of BD, Head of LPM and Head of Resourcing Management, the successful applicant will ensure strategic alignment of priorities and delivery of first class support to the Partnership to improve competitiveness, client value, profitability and Partner confidence.
Key focus areas for the position include;
- Leading the Pricing and Client Finance Support teams, increasing their visibility and partnership penetration to deliver commercial direction and value-add advisory services, whilst still ensuring they continue to be seen as trusted advisors
- Working closely with the Commercial Finance Director and other senior business services leaders to drive strategic business planning and growth strategies, considering market trends and competitive intelligence related to pricing and practice management, in support of creative pricing strategies that align fees with value provided while remaining consistent with firm strategy and profitability goals
- Oversee and support the management of the firm’s pricing strategy, ensuring effectiveness and alignment with strategic objectives, including the development of nuanced strategies at practice group and regional level as appropriate
- Further development of existing protocols to ensure effective pricing and approval of significant engagements. Continuing to evolve the firm’s Profitability Support Panel to drive up Partner confidence and decision making quality
- Working with other teams to support a more proactive and collaborative approach with clients
- In conjunction with BD and working capital managers, provide regular financial reviews of key clients to identify performance issues and ensure Client Relationship Partners are confidently able to address these on a timely basis – whether it be through regular client care initiatives or panel retenders. A key focus of these meetings is having strategic pricing discussions, ensuring there is a plan to maximise the value from client relationships and enhance the firm's brand
- In conjunction with the Finance Business Partners actively lead on regular client portfolio review exercises with Partners to drive up financial performance and foster collegial discussions with fellow Partners where needed
- Working closely with the Head of Tax to address the increasing complexity with operating in jurisdictions that pose unrecoverable withholding tax risks
- Improving the linkage with Legal Project Management and create an end-to-end support model, unlocking opportunities to cross-sell work and join forces on key strategic initiatives, business deliverables and post completion reviews of significant client mandates.
- Owning the client rate review process and ensuring maximum impact through the review of client financial terms and regional headline rate cards.
- Continuing to move forward the training and coaching agenda, providing support to Partners and others involved in pricing proposals and approvals, advancing pricing as a strategic tool to build, enhance and expand client relationships
- In conjunction with FP&A, supporting the annual budget and planning process to ensure necessary financial objectives, corrective measures, and budget targets are included which address pricing and value issues at team, practice group or regional levels
- Increasing the firm's focus on external developments with competitor pricing, technology and best practice.
Applicants should be seasoned pricing leads with a demonstrable track record in leading on pricing strategy in a professional services environment. Excellent persuasive and more general communication skills are a must as is extensive leadership experience. This is a great opportunity for an ambitious commercially-minded individual to join a world leading law firm in a senior, influential, partner- and client-facing position.