Pricing and Costs Analyst
Owen Reed are recruiting for a Pricing & Costs Analyst to work for a top London law firm.
The Pricing & Costs Analyst should ideally have an understanding of current legal or professional services pricing models, including alternative fee arrangements, would be a distinct advantage. A high degree of comfort in using large amounts of data and from this identifying trends/themes in relation to KPIs. The Pricing & Costs Analyst must have ability to manage varying priorities and work proactively to meet the demands of multiple stakeholders. Excellent interpersonal skills, to build the confidence of our lawyers in the use of a range of tools and reports and provide encouragement in the evolution of working practices
The overall purpose of the role is to assist the Business Manager in improving financial performance and knowledge across the practice. This will be achieved through the following:
- Training and assisting the practice in the use of the pricing tools
- Adding to the suite of precedent pricing tools for different types of matters and continuously reviewing outcomes and refining the tools
- Developing financial tools aligned to demonstrating value to clients, including modelling on alternative fee arrangements
- Preparing estimates and tracking costs against large matters (£25k+)
- Learning the metrics to track performance and their interlinked relationship. Ultimately become confident discussing them with lawyers and support teams.
- Understanding and communicating how to improve one or more of the metrics, in relation to either an individual fee earner, matter, client or department
- Assisting with rate reviews, to include collation of relevant information (Excel based currently) for annual/end of term meetings with Business Manager
- Liaise with the finance team, particularly our MI Analyst, to request information which is often bespoke in nature with very specific requirements
- Assist with the setup and monitoring of a matter financial database to address matters at risk of going over estimate/budget and liaise with fee earners about a recovery plan where needed
- Monitor financial matter setup details and ensure adherence to the pricing strategy.
Specific tasks may change over time, so we’ll need you to be adaptable and flexible as we continue to meet our clients’ needs.