Director, Commercial Analysis and Profitability

1 month ago

Canada, CA Dentons Canada Full time
Director, Commercial Analysis and Profitability

Ottawa, ON, CA
Calgary, AB, CA
Edmonton, AB, CA
Toronto, ON, CA

Jul 4, 2024

Dentons is designed to be different. Our firm leads the way in a rapidly changing legal marketplace. We challenge the status quo and deliver consistent results as well as uncompromising quality and value to our clients. Our global presence is renowned as a firm with over 21,000 individuals in more than 200 offices serving clients across 80+ countries.

Dentons Canada is committed to its people and communities. We are consistently recognized as an employer of choice having received numerous awards including being selected as one of Canada’s Top 100 Employers (2024); Canada’s Top Employers for Young People (2024); and Canada’s Best Diversity Employers (2024).

Role

As the Director, Commercial Analysis and Profitability, you will be responsible for conducting commercial assessments, leading operational reporting, analyzing and developing pricing strategies, and providing valuable insights to ensure profitability and business growth. You will work closely with partners, finance and business development teams, and practice groups to develop profitability and pricing models and contribute to the firm's financial growth.

Reporting directly to the Chief Operating Officer, you will be responsible for leading the development and implementation of profitability tools and pricing strategies to promote competitive advantage in the market. This role requires a strategic thinker with a deep understanding of the economics of law firms, who can effectively collaborate with partners, senior management, and external clients to develop creative, value-based pricing solutions.

Responsibilities

  • Conduct comprehensive commercial assessments of client engagements, evaluating pricing structures, profitability, and potential risks to provide strategic recommendations and support decision-making.
  • Analyze financial data and key performance indicators (KPIs) to assess the financial health and profitability of the firm's practice areas, clients, and specific matters.
  • Prepare regular reports and presentations on profitability analysis, pricing performance, and commercial insights for partners, senior management, and relevant stakeholders.
  • Lead the development and/or rollout of new operational management tools and processes, with a focus on enhancing profitability.
  • Monitor and evaluate the legal market, competitors, and industry trends to identify pricing opportunities, benchmark against industry standards, and propose adjustments to maintain competitiveness.
  • Develop and implement innovative pricing strategies that align with the firm's business strategy and client needs.
  • Develop the pricing function, providing guidance and support to partners and the business development team in pricing negotiations and the creation of fee arrangements that offer value to clients and profitability to the firm.
  • Identify market trends and competitor pricing to ensure Dentons remains competitive while maintaining profitability.
  • Collaborate with the finance team to enhance pricing tools, models, and processes to improve efficiency and accuracy in pricing decisions.
  • Provide training and coaching to partners and other stakeholders on pricing strategies and the importance of value-based pricing.
  • Work closely with practice groups to understand their unique pricing pressures and opportunities, advising on bespoke pricing solutions.
  • Stay updated on financial modeling tools, pricing software, and legal industry-specific technologies, and recommend and implement relevant tools to streamline pricing processes and enhance data analysis capabilities.
  • Participate in the firm's strategic planning, bringing pricing expertise to the table to inform decision-making and long-term goals.
  • Ensure compliance with firm policies and procedures in all pricing activities.

Required experience, skills, and attributes

  • Bachelors degree in Finance, Economics, Business, or a related field; advanced degree preferred.
  • Professional accounting qualification is advantageous.
  • Experience in pricing, financial analysis, or commercial analysis roles within the legal industry or professional services sector.
  • Advanced analytical and financial modelling skills, with attention to detail and the ability to identify trends, patterns, and opportunities from data.
  • Advanced Excel skills and experience with financial modeling tools. Knowledge of Microsoft Power BI, Dataverse, Forms and/or Power Apps considered an asset.
  • Ability to interpret complex financial data and provide strategic insights.
  • Proven experience in a senior pricing role within a professional services firm, primarily within the legal sector.
  • Great leadership skills with the ability to inspire, develop and lead a great team.
  • Good communication and interpersonal skills, with the ability to effectively communicate complex concepts to stakeholders at all levels.
  • Proven ability to work collaboratively with cross-functional teams and build effective relationships.
  • Comprehensive project management skills, with the ability to prioritize tasks, meet deadlines, and handle multiple projects simultaneously.
  • Innovative and strategic mindset, with a proven history of developing and implementing effective pricing strategies.
  • Comfortable working in a fast-paced, creative environment and able to respond to changing business needs.
  • Proficient in Microsoft Office.
  • Understanding of the principles of confidentiality and a commitment to privacy and ethical conduct.
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