Head, Pricing

Level:
Manager
Job Term:
Permanent
Location:
London
Position/Type:
Legal Finance
Salary Description:
Competitive
Posted:
19/05/2017
Recruiter:
Norton Rose Fulbright
Job Ref:

The Team 

The Head of Pricing is responsible for the pricing function within Norton Rose Fulbright LLP and will also provide support at a Verein level to deliver pricing strategy and development on a global basis

The team plays a key role in developing the strategic pricing capability for the business by continually reviewing and developing the Firm’s pricing approaches to ensure that they are in line with market best practice with the aim of maximizing returns for the Firm.

The Head of Pricing and the team work with Partners, Business Development staff and Finance, to be influencers in Norton Rose Fulbright, creating a greater awareness of the effect of pricing and contributing to the growth of a profit focused mindset in the business.

In 2018 Norton Rose Fulbright will implement a new system for the management of matters. The Head of Pricing will take a lead role in the implementation of the system across EMEA.

This position reports to the Head of Financial Planning and Analysis and the Global COO.


The Role 

  • Continuously develop and implement pricing strategies
  • Establish and manage policies and processes required for effective management of pricing for transactions, bids and panel appointments
  • Work with the CoE to ensure consistency with global policies for pricing and matter management
  • Determine and facilitate the development of pricing tools to enable partners, associates and other key client facing personnel, such as Marketing and Finance, to price transactions
  • Deliver a continuous development programme for partners, associates and other key client facing personnel to become proficient in pricing transactions
  • Work with the rest of the finance team to ensure that reporting systems monitor actual against budget performance on transactions and to provide exception analysis to management and fee earners
  • Be highly visible and an effective communicator and champion and to be seen as the go to person on all aspects of pricing and pricing policy
  • Manage the Pricing Approvals Board and fee arrangement approval processes and assist with documenting agreement with major clients
  • Encourage broader and better use of the Firm’s tools to develop more profitable and consistent pricing approaches
  • Maintain pricing knowledge and regularly monitor industry pricing practices, particularly for major competitors. Assess key trends and develop pricing models for legal services and monitor profitability and implementation of those models
  • Develop and maintain a depository of pricing best practices (tools, assets)
  • Develop examples of successful and unsuccessful pricing strategies.  Develop standard review methodologies and document learnings from profitability analysis of prior deals to assist with better scoping, estimation and resourcing
  • Advise on mechanics of billing/monitoring agreements.  Coordinating and collaborating with the Revenue function to determine the appropriate billing mechanics and implement the reporting and measurement analysis required
  • Provide content for training materials to offices and practice groups that helps enable Partners to become more skilled at estimating the scope of an assignment, the time required to complete an assignment, the resources needed (number, skills and seniority) and available capacity to enhance profitability and deepen client relationships
  • Provide ‘point of need’ pricing support and pricing negotiation as required. 

Skills and Experience Required 

  • Significant, demonstrable experience in a similar role at either a professional services company or in a legal environment
  • Significant experience in a pricing / negotiation / procurement environment
  • Client relationship management experience and a full understanding of client development drivers, for example cost versus risk versus value
  • Understanding of project estimation and management approaches, tools and phases of the project lifecycle
  • Proven analytic and decision making abilities
  • Strong communication skills, both written and verbal. Excellent ability to communicate and present key pricing strategies and concepts to senior stakeholders
  • Demonstrable experience of thought leadership and innovation in problem solving
  • Experience and knowledge in sourcing and negotiation topics, business process outsourcing and supplier relationship management
  • Substantial experience in pricing strategy, structures and analytics, including development of Excel based pricing models
  • Thoughtful and innovative with an ability influence senior management and achieve wide scale engagement in new pricing initiatives.

 

At Norton Rose Fulbright we welcome receiving direct candidate applications via our careers page. 

If you would like to ask any specific questions beforehand, please contact nicholas.cole@nortonrosefulbright.com 

NO AGENCIES PLEASE

Closing Date:
26/06/2017

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