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Commercial & Pricing Manager

Ambition Europe Limited
Posted 6 hours ago, valid for 24 days
Location

London, Greater London EC1R 0WX

Salary

£48,000 - £57,600 per annum

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Contract type

Full Time

In order to submit this application, a Reed account will be created for you. As such, in addition to applying for this job, you will be signed up to all Reed’s services as part of the process. By submitting this application, you agree to Reed’s Terms and Conditions and acknowledge that your personal data will be transferred to Reed and processed by them in accordance with their Privacy Policy.

Sonic Summary

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  • A new Commercial & Pricing Manager position has been created at a UK law firm due to the firm's growth and focus on pricing and profitability.
  • The role requires a highly experienced individual to establish and enhance the pricing function within the finance department, with a strong emphasis on assessing profitability.
  • Candidates are expected to have a law firm background and will work autonomously, collaborating with various teams to drive strategic pricing initiatives.
  • The position offers a competitive salary, although the exact amount is not specified in the job description.
  • Applicants should be ready to contribute to significant practice improvement initiatives and support business development efforts.

Newly created Commercial & Pricing Manager role available at UK law firm.

Due to recent growth of the Firm and increased focus on pricing and profitability, they are looking for an ambitious and self-motivated Commercial and Pricing Manager to embed and build this function within the firm.

The Commercial and Pricing Manager will be a key member of the finance department and will be focused on building a robust method for assessing profitability at a client, team and office level. They will also work closely with the Business management team to look at practice improvement initiatives focusing on the way work is delivered as well as supporting the Business Development team on pitches and RFP's.

Key tasks will include:

  • Develop a strong understanding of the Firm's departments, practice groups and clients to help execute strategic pricing initiatives and strategies.
  • Assist in streamlining the annual rates setting process, including development of office specific rates and review all client specific rates.
  • Work with partners to review profitability of their clients and suggest alternative resourcing models.
  • Run profitability analysis to help Practice Group Heads and other senior stakeholders to fully evaluate fee proposals and make appropriate business decisions for the Firm.
  • Communicate with the business to discuss pricing strategies, brainstorm creative fee proposals, facilitate effective rate management and implement, and optimise efficiencies.
  • Contribute to the creation and automation of matter budgets and matter management initiatives in collaboration with the Working Capital team.
  • Contribute to the development and implementation of new pricing services and tracking mechanisms to generate new business and manage the success of existing arrangements.
  • Create strategic staffing solutions based on different alternative fee arrangements in partnership with other team members.
  • Take ownership of client RFP and pricing requests and work closely with colleagues in Business Development to coordinate related decision making.
  • Prepare robust models and templates to support analysis of a wide range of fee proposals utilising Firm financial metrics.
  • Implement a process for post matter reviews.
  • Review the unit cost model that drives the current profitability calculations. Ascertain whether there is there a more appropriate or simpler method for calculating cost rates.

This role requires someone very experienced in this space who can set up the pricing function and processes for the firm. This person will need to be able to work autonomously and come with ideas of best practice and be comfortable in a number one/ senior role.

Applicants with a Law firm background will take priority as this is their preferred background.

This is a brilliant opportunity for someone to build and make this function their own and they will have the support and backing of the senior leadership team to do it.

If this job isn't quite right for you, but you know someone who would be great at this role, why not take advantage of our referral scheme? We offer £200 in shopping vouchers for every referred candidate who we place in a role. Terms & Conditions Apply. https://refer-a-friend

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In order to submit this application, a Reed account will be created for you. As such, in addition to applying for this job, you will be signed up to all Reed’s services as part of the process. By submitting this application, you agree to Reed’s Terms and Conditions and acknowledge that your personal data will be transferred to Reed and processed by them in accordance with their Privacy Policy.