Pricing Analyst

Company: Akin Gump Strauss Hauer & Feld LLP
Location: Washington
Posted on: February 16, 2020

Job Description:

Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East. We are currently seeking a Pricing Analyst in our Client Value & Practice Management department, reporting to the Director of Client Value, with direction from the Client Value Managers.The position can reside in either the New York or Washington, DC office and will be responsible for supporting the firms practice groups and each groups teams with pricing requests and fee estimates with the goal of raising the firms profitability, realization, and market share while helping to communicate and deliver the maximum and expected client value. The Analysts primary responsibilities will include, but are not limited to: (i) assisting with the development, evaluation and execution of the firms pricing strategies and fee estimates; (ii) helping ensure that pricing strategies are aligned with client needs; (iii) assisting with tracking, measuring and reporting the firms non-standard pricing arrangements in accordance with defined financial and business performance objectives. The Analyst will also support practice group analytics to help address defined financial performance objectives.Key responsibilities of this position include:

• Work with Managers and attorneys to help model and develop pricing strategies and fee estimates (non-standard and alternative fee arrangements) that take into account firm/attorney needs and objectives, practice group/team or firm goals, and key performance indicators, as well as client requirements;
• Serve as a resource for Managers and attorneys, offering credible financial information by compiling historical financial data in a useful format and using information to help proactively inform strategic pricing decisions;
• Support Managers and Business Development in the preparation and/or review of RFPs/business development proposals relating specifically to strategic pricing, alternative fees, and budgetary fee estimates and assist with compiling written proposal content as requested/needed;
• Assist with procurement rate/fee negotiations, including liaising with the Billing and Compliance teams as needed to ensure negotiated rates/fees are correctly implemented;
• For identified clients/matters with existing fixed pricing arrangements, work with the Managers and Legal Project Analyst to review and revise pricing (if and/as needed with support from the Managers) to best meet shifting client/firm priorities or mandates;
• Track and maintain pertinent information relating to all pricing and budgeting/fee estimate efforts and offerings across the firm and assist with data integrity efforts in ADERANT and Prosperowares Umbria Platform;
• Work with Managers to build reports to analyze ongoing realization and profitability of engagements, particularly focused on the success or failure of initial pricing strategies in producing profitable outcomes;
• Work closely with the Managers to analyze practice group financial performance along key financial data points and KPIs, focused especially on revenue generation and profitability;
• Review historical data to help issue spot and identify trends and insights that focus on ways to improve performance;
• Assist Managers with the development of ad-hoc and standardized financial and performance reports on practice/client/matter levels to provide additional clarity and enhance transparency for Practice Group Leaders;
• Share relevant legal market and competitor information and analysis with the Client Value team;
• Participate, if and as needed, in the review of Outside Counsel Guidelines for pricing or project management guidelines impacting the practice groups; and
• Collaborate and work with the Managers and other business services teams in the performance of special projects as assigned.Qualifications (Experience, Knowledge, Skills & Abilities):
  • BA or BS required
  • 2- 3 years in client service oriented functions, preferably with financial analyst background
  • High proficiency in Word, Excel, Outlook and PowerPoint and the ability to quickly learn and utilize additional software and systems; experience with SQL a plus
  • Data-driven and/or financial analytics experience preferred
  • Understanding of financial management and business drivers, and ability to think strategically and analytically (issue-spot)
  • General knowledge of industry business acumen; apply sound judgment and discretion with respect to confidential and sensitive information
  • Ability to communicate persuasively, both orally and in writing (visual reports, graphs, etc.)
  • Strong ability to work independently and with teams, creatively and proactively
  • Good interpersonal skills and the ability to deal effectively with all levels of personnel and work collaboratively across all firm departments
  • Proven organizational skills; ability to execute identified initiatives and processes in a timely mannerAkin Gump Strauss & Feld LLP participates in E-Verify for purposes of verifying employment eligibilityLI-RR1Required SkillsRequired Experience

Keywords: Akin Gump Strauss Hauer & Feld LLP, Washington DC , Pricing Analyst, Professions , Washington, DC