Managing Director of Strategic Pricing u0026 Client Value

Managing Director of Strategic Pricing & Client Value

Posted on

Mar 06, 2021

Profile

Faegre Drinker has an opportunity for a Managing Director of Strategic Pricing & Client Value to work with our Innovation team in our Chicago, Indianapolis, Minneapolis, Philadelphia or Washington DC office. You will provide leadership, direction and oversight for five core functions: strategic pricing, client value, matter profitability, matter budgeting, and legal project management. This position will work with other talented individuals who share a passion for doing great work in the best interest of our clients.

What You Would Do In This Job

• Develop, coordinate, manage and execute robust and scalable pricing strategies that address client needs and meet firm financial and other business objectives.
• Create and structure innovative and practical pricing models for hourly, custom, life cycle, risk/reward sharing and value-based engagements.
• Collaborate with attorneys, consulting professionals and the Client Development & Marketing department on RFP responses and proposals, matter team composition and value-based opportunities for our clients.
• Directly negotiate with clients on pricing and develop offering structures to meet alternative fee arrangement requests.
• Work directly with clients and legal operations leaders to understand business drivers and needs related to pricing of legal engagements which achieve their business objectives, increase cost predictability and incentivize efficiency.
• Analyze, measure and report on success of various pricing strategies and evaluate historical outcomes in order to capture and apply lessons learned.
• Establish standard tools and methodologies to deliver pricing services.
• Collaborate with data scientists to develop data-driven insights and predictive outcomes related to pricing.
• Provide strategic consultation and tactics on client/matter profitability to a variety of firm leadership.
• Oversee and report on the firm's profitability related to the portfolio of alternative fee matters.
• Assist in developing budgets for complex client matters.
• Establish flexible matter budgeting management tools and practices that enable effective monitoring of client engagements.
• Provide leadership and direction for the firm's efforts in the areas of legal project management and legal process improvement.
• Create and deliver educational and coaching sessions on the assigned five core functions.
• Develop, mentor and manage the Strategic Pricing & Client Value professionals by providing coaching, training, ongoing feedback and performance evaluations.
  
  

Requirements

• Bachelor's degree required; MBA or comparable graduate degree preferred.
• 10 years of experience developing and implementing sophisticated financial and/or pricing strategy and analysis, enhancing organizational productivity and profitability, and leading through change.
• Experience in a corporate legal department, law firm or consulting environment preferred.
• Accredited Legal Pricing Professional (ALPP) designation, Certified Legal Project Manager and/or Six Sigma training preferred.
  
  

Position Expectations

• Strong commitment to client service.
• Cooperation and the ability to collaborate in a team, including across offices.
• Ability to think analytically and problem solve.
• Demonstrated leadership skills, including critical thinking, risk taking and creativity.
• Ability to use sound judgment and discretion in dealing with highly confidential information.
• Strong sense of urgency and professional dedication.
• Ability to build and maintain positive relationships.
• Excellent interpersonal, verbal and written communication skills.
• Ability to work in a fast-paced, deadline-driven environment.
• Positive and professional demeanor.
  
  

Company Benefits

• Opportunity to participate in firm-sponsored volunteer events.
• Wellness programming with personalized content and activities.
• Professional environment and the opportunity to work with experts at the top of their fields.
• Variety of health plan options, as well as dental and vision plans.
• Generous paid time off.
• Temporarily remote due to COVID-19.
  
  

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