Senior Manager of Strategic Pricing

Overview

Thompson Hine LLP, an AmLaw 200 firm, is expanding its leadership team. We are seeking a Senior Manager of Strategic Pricing to join any of the following locations:
Atlanta, Chicago, Cincinnati, Cleveland, Columbus, Dayton, Minneapolis, New York or Washington D.C. offices. The pricing function is responsible for designing and managing fee arrangements that balance client expectations with the firm’s profitability. This function may work directly with clients and may participate in fee negotiations with certain clients. The function leads fee conversations, models profitability, advises lawyers and pitch teams on pricing strategy, monitors low-performing situations, and approves or guides alternative fee arrangements.

This position leads the pricing function. This position also oversees the rate management function, in conjunction with the billing manager. This position works with the LPM and Marketing Departments on matter budget support, RFP support and client pitch support.

This position will formally report to the Director of Financial Planning & Analysis; however, it will work very closely with the CFO.

• Partner with attorneys and/or marketing in TH response to RFPs and fee arrangements.
• Create financial models and scenario analyses to support pricing decision.
• Responsible for overseeing the Firm annual timekeeper rate setting process and client exception rate process.
• Quantify the realization or profitability of the work based upon the underlying assumptions and inherent knowledge of the lawyers, area of law, industry or client. The estimating will include such factors as hours, leverage, scope, risk and prior experience. The profit target may differ based on the value proposition of the client or situation.
• Position will have authority to approve agreements within a range of profitability. Outside of this will require approval based on the procedures set in place by the firm (typically CFO).
• Manage a repository of pricing arrangements and representative matters for the areas of law for which the firm is engaged. Over time this set of data should be used in the deciding of future engagements.
• Provide client reporting to comply with client or internal requirements or support client relationship meetings, internal team meetings or pitches. This is intended to be done in a standardized manner where it is not a drag on resources. Assist in preparing presentations, making decisions, preparing reports, etc.
• Supervise Rate Analyst/Rate Manager with respect to entering and maintaining rates in Aderant. Work with the billing department to maintain the integrity of billing rates and in both Aderant and e-billing platforms.
• Lead the firm’s profit initiative which is aimed at identifying clients that are not profitable and work with firm management on a strategy to return client to acceptable profitability.

Education, Training and/or Experience

• B.S. or B.A. in Business or Accounting required.
• 10+ years of total experience with at least 5 in a pricing related function.
• Experienced in preparing and presenting financial modeling, including the tools used, such as Excel or other advanced modeling tools.
• Experience working with data, including databases, large spreadsheets/datasets; and use of SQL to produce datasets for modeling.
• Must have experience reading and interpreting financial statements.
• Must have experience working directly with management and in a capacity where management solicits their opinions or recommendations.
• Experience in professional services industry preferred.

Individuals must possess the following knowledge, skills and abilities, or be able to explain and demonstrate that the individual can perform the essential functions of the job, with or without reasonable accommodations through some other combination of skills and abilities.

• The individual will develop a working knowledge of the time and billing system data and be able to manipulate it for the purpose of producing requested information. This data includes but is not limited to the following: working versus billing attorney reporting, fees versus costs, rate structures, offices and practice groups, realization and profitability.
• The individual will have an advanced knowledge of Microsoft Excel including the following: sorting, filtering, subtotals, various functions and charts/graphs. The individual may have knowledge of databases (e.g. Microsoft Server) or other reporting software (e.g. Tableau, Power BI).
• The individual will have a working understanding of a) data types and functions, specifically including text and lookup functions and b) data structures, including the concept of tables, queries, reports, etc.
• The individual will be capable of interpreting financial statements and identifying questions, potential issues as well as a means to determine possible solutions.
• This individual will be able to set reasonable expectations and yet be flexible to changing…