I am currently working with a leading UK law firm and assisting them with the recruitment for a Senior Pricing Manager to support the firm to generate profitable and sustainable income growth. This role will lead on evolving and delivering our flexible pricing strategy, and help to bring clients closer to the firm over the medium to long-term. The position will collaborate with other members of the Practice Management team, Finance and Business Development and Marketing teams, Partner Pricing and Profitability Champions, and partners/ lawyers across the practice. The Senior Pricing Manager will have overall responsibility for pricing strategy at the firm.
Other key responsibilities of the role include:
- Design and deliver pricing training as part of career milestone programmes.
- Develop and maintain engaging intranet content, including bite sized practical guides and top tips.
- Support partners/lawyers on large projects, proposals, client pricing and rate decisions, including direct involvement in fee discussions/negotiations with clients, where appropriate.
- Ensure that working capital implications are considered on larger quotes, including that the firm’s credit exposure policy is followed by referring to the Finance team.
- Alternative Fee Arrangement (AFA) management, including monitoring and reporting; responding to profitability analysis; and suggested actions to support profitability and/or reduce lock up.
- Support continuous improvement in effective and efficient pricing and matter management, identifying issues and themes, and speaking to partners/lawyers, supporting them to improve their practices.
- Meet regularly with partner Pricing and Profitability champions and relevant members of the Business Team to share learning, tackle challenges, and drive better commercial decisions.
- Respond to analysis of client and large matter portfolios, including by client and work type, considering profitability and the implications for pricing, resourcing, and matter management decisions.
- Respond to analysis of where clients sit on a scale of high revenue/deeply embedded vs low revenue/not embedded or loosely transactional, aiming to deepen/strengthen engagement with the latter.
- Develop profiling on growth client strategic priorities over a rolling 12-month period, to gain insight and open doors for new work.
- Respond to analysis on key and growth potential clients, joining BDM at CRM meetings, Key Client Programme reviews, and Client Listening meetings, to provide insights into: Opportunities to expand and diversify the volume, regularity and/or nature of work we undertake for clients, including use of AFAs where appropriate.
Applicants should have proven pricing experience in a commercial environment ideally within the legal or professional sector. You must be a proactive and innovative individual with a high level of computer literacy and MS Excel modelling capability is essential. The role requires an analytical and strategic approach and a high degree of commercial acumen with a strategic outlook.