Manager, Pricing

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Purpose of the Role

The Manager, Pricing is responsible for optimizing and profitably pricing the Firm’s legal services in order to maximize profit and meet competitive, financial, and corporate growth objectives.

The incumbent will be expected to lead the day to day operations of the team, reporting directly to the Director of Pricing. It is also expected that the Manager, Pricing provide thought leadership in pricing methodologies and partner closely with Our Chief Practice Managers, Business Development, Proposal Specialists, Finance and National Practice Group Leaders to deliver standard pricing solutions/models to meet business requirements.

The Manager, Pricing will further the Firm’s pricing strategy, capabilities, and policies based on insights from internal and external sources including, but not limited to, competitive dynamics, market trends, and client research. The Manager, Pricing will provide tactical pricing advice and services to BLG Professionals. This role will also help develop the pricing and scope of services of alternative fee arrangements (AFAs) and budgets. The incumbent will also be tasked with developing the client reporting and analytics of the team, providing insights and key findings in a clear and concise fashion.

Key Responsibilities

The key responsibilities of this role are:
Key Objectives:
- Work closely with the Director of Pricing to manage the day to day activities of the team as well as further the teams capabilities in providing pricing excellence.- Develop pricing strategies in conjunction with Business Development, Proposal Specialists, Finance and National Practice Groups- Lead pricing component of all RFP’s and pitches for BLG- Work closely with our Chief Practice Managers on driving various continuous improvements within our practices in terms of process, awareness & knowledge and capability within pricing and matter management.- Implement well-defined pricing policies that capture critical pricing decisions, steps, owners, approval levels, and exception processes.- Implement pricing tools and systems to foster sound pricing decisions, perform analytics, track activities and report on performance.- Provide frameworks and recommendations, organize and guide internal and external research to guide / support pricing decisions- Advise engagement partners on staffing strategies in order to increase effectiveness of alternative fee arrangements to clients and maximize likelihood of financially successful outcome for the firm- Manage the setting of rates, discount levels, and client profitability level; lead the costing and pricing of existing and new opportunities- Research, track and understand industry and macro trends that impact the pricing of services- Gather, analyze and assess competitive pricing intelligence to help make pricing and product positioning decisions- Drive awareness and training for the business to increase its capability and approach to pricing and commercial management- Provide strategic input and negotiation tactics for engagement letters- Review matter budgets against actual results to determine profitability, lessons learnt and future pricing points.- Perform market and competitive research on pricing strategies, approaches, etc.- Work closely with Partners, Pitching & Proposal teams and finance on improving our knowledge and skills around pricing.

Strategic:
- Serve as key resource on large strategic opportunities and related issues- Partner with NPGs to understand strategy, pricing and sales needs; propose innovative solutions that optimally align price with value to drive revenue, client retention, and profit- Provide a consistent rate methodology between offices and across National Practice Groups- Evaluate effectiveness of pricing strategies, identify gaps and opportunities, and recommend innovative yet practical solutions- Lead the development and implementation transformational change, process, and pricing disciplines across National Practice Groups- Keep abreast of developments in, and guide BLG on, AFAs and other pricing arrangements used within all of the markets in which BLG operates; gather and provide competitive intelligence on peer firms’ approaches to pricing- Participate in the expeditious and tailored creation of responses to RFPs, and attend, either in person or remotely, internal kick off calls and client pitch meetings as needed- Brand, evangelize and internally market the appropriate use of pricing services within the Firm- Streamline the process for requesting and fulfilling p