Pricing Manager - London, United Kingdom - Ambition Europe Limited

Ambition Europe Limited

Verified Company

London, United Kingdom

3 weeks ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

NEWLY created Pricing Manager position available at UK law firm to focus on improving pricing and profitability, following significant investment from the firm into a new pricing tool and other senior hires to support commercial decision making for the firm.

This is a fantastic opportunity to join a firm that has the infrastructure in place but still in the 'build phase' giving you the opportunity to put your own stamp on things and grow as this functions grows.

Specific duties include:

Maintain a close working relationship with the Reporting/analysis and Revenue teams, assisting with analysis on client rates, fee structures and discounts, advising Partners on how to improve profitability through altering them.
Liaise with Business Development team regarding pricing and fee arrangement queries as and when required, for example, preparation of RFP responses and other presentations, and participation in presentations (internally and directly to clients)
Model proposed fee arrangements (including preparation of budgets); creating and reviewing reports pertaining to pricing
Summarise the financial impact of existing rate arrangements and develop and recommend revisions as agreements are renewed. Suggest policies and procedures which promote and maintain best practice in the management of the Firm's strategic client fee arrangements
Produce summaries of various types of fee arrangements in the Firm portfolio (such as fixed fees, capped fees, contingent fees, success fees, etc.)
Develop a good understanding of the Evaluate pricing tool, provide functional and administrative support, maintaining a close working relationship with the Financial Systems team.
Develop a good understanding of phase templates and how these relate to time recording.
Provide training to the Firm on the Evaluate pricing tool.
Support the business with maintenance of work types and their relationship to phase templates.
Maintain a close relationship with BigHand, the external supplier of the Evaluate budgeting tool.
Assist in the annual rate setting process including annual matter/exception rate review.
Coach partners and fee earners in the use of the Evaluate pricing tool and assist the same in the development of matter budgets
Understand the Firm's client rate policy and Educate lawyers on pricing strategy and negotiation, AFA alternatives, and value propositions.
Maintain phase templates/work types with Heads of Groups and consider any requests that may arise to amend them

Experience required:

Experience within a pricing focussed role as part of an existing pricing team, preferably within the legal or professional services sector
Working knowledge of pricing, calculating fee arrangements and detailed understanding of the levers affecting profitability
Experience of influencing decision makers and Partners on pricing issues

Personal attributes needed:

Have confidence and initiative to bring ideas to the table in discussions with Partners
Excellent communication skills
Ability to drive improvement and development
Confident to take this team/ the function out to the business
Ability to gain buy in from senior stakeholders

Additional:

Up to 10% bonus salary reviews in May every year would be eligable for May 2023 review if joining before end of January 202 3 days a week in the london office, 2 days from home