Pricing Analyst in Richmond, VA

JOB PURPOSE:

Performs an integral role in the life cycle of alternative and budgeted fee arrangements in collaboration with the Pricing team. Analyzes and makes recommendations concerning special rate arrangements, and utilizes the firm’s web-based budgeting tool to provide project tracking and education to matter managers. Provides data and statistical information through both ad-hoc and scheduled reporting activities.

RESPONSIBILITIES AND ACCOUNTABILITIES:

1. Works independently utilizing scenarios and models to assess the financial impact and profitability of pricing proposals. Provides recommendations in the development of creative, effective and workable pricing solutions in response to client pricing demands, including alternative fee arrangements. Utilizes peer market data and tools when conducting pricing/rate analyses in order to determine optimal pricing structures for the firm.

2. Collaborates with and provides direction to team leadership and other attorneys in the development of matter budgets and pricing proposals. Participates in the development of pricing databases and pre-populated budget templates, to include performing data analysis and research on historical matters to determine cost ranges.

3. Utilizes Budget Manager data warehouse software and other tools to perform in-depth analysis of historical matters for evaluation and use in creating phase/task matter budgets for new client or expanded client work.

4. Independently identifies, compiles and assesses financial data needed to respond to client RFP’s and collaborates with the Pricing team to draft financial and pricing responses for RFP submissions. In conjunction with the Pricing team, develops best practices to be used on future RFP’s.

5. Maintains budget portfolio information within Budget Manager software, interfacing directly with team leadership and matter managers. Assists with the structure, organization, and tracking of budget data in order to maximize its usefulness for analytical purposes. This includes actual to budget performance reporting as well as matter compliance to firm budgeting policies.

6. Updates and maintains the firm’s database of budgets and alternative fee proposals. Works to ensure the process is as automated as possible. Ensures that alternative fee arrangement data is integrated directly into Aderant.

7. Responds to requests for data and information via the Data Requests email alias. Performs the secondary role for request fulfillment. Specializes in requests related to pricing and client related components.

8. Performs various monthly reporting requirements that are more specifically focused on client performance. Acts as a backup role for other reporting needs that arise.

9. Keeps abreast of current pricing trends within the legal market and applies learned concepts to help improve the firm’s pricing capabilities.

Job Description

10. Provides statistical reporting and analysis to the Partnership Admissions Committee (PAC) and the Executive Committee with respect to the annual partnership admission process and posts the same to the PAC website.

11. Develops profitability analyses of attorney staffing arrangements in collaboration with the OLRD, the Teams and Business Managers.

12. Performs special projects as assigned.

MINIMUM QUALIFICATIONS REQUIRED:

1. Education: Bachelor’s degree preferred;.

2. Experience: Minimum of three years related pricing or financial analysis experience, preferably in a law firm, professional services, or other client relationship-based organization.

3. Other Minimum Qualifications: Frequent travel may be required. Availability and willingness to work hours as needed to meet critical deadlines. High level of proficiency with Microsoft Office Suite applications, especially Excel. Ability to learn, leverage and use additional programs, including budgeting and financial management software. Working knowledge of professional services financial and billing systems preferred. Strong commitment to client service excellence and teamwork. Must possess the highest standards of ethical conduct and professionalism. Must act as catalyst for change, drive and own results. Creative and innovative. Excellent communication skills (oral, written and listening) and ability to collaborate effectively and build relationships with diverse group of professionals. Sound judgment and flexibility.