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Elevate’s client, a Top-tier Investment Bank, is looking for an Outside Counsel Strategic Pricing Lead to work full-time at its offices.
Specifically you will:
Design and lead the global cost control and pricing strategy for Legal department and provide targeted pricing support to in-house counsel including pricing negotiations, alternative fee arrangements, requests for proposal, budgets, reverse auctions, panels, staffing measures and behavior changes including designing appropriate tools and processes, policies and procedures and training regarding the same.
Support in-house counsel with their decision-making on all aspects of pricing.
Represent the Legal department in face-to-face pricing negotiations with law firms.
Undertake financial modelling and scenario analysis to support pricing decisions and improve pricing analytics capabilities to better understand and predict costs legal services.
Identify areas in Legal for new alternative pricing opportunities.
Act as a trusted adviser to the Legal department on pricing issues , including support on significant RFPs and pricing negotiations for large cost matters.
Work with in-house counsel and senior management to create and implement Line of Business /practice area /region specific pricing strategies.
Help design and support law firm panels aligned to areas of legal practices.
Advise senior management on optimal standard rate increase positions to support law firm rate increase requests.
Build relationships with pricing contacts within law firms and the broader external market.
Influence and guide in-house counsel and business managers with pricing negotiations through the provision of concise supporting data, recommendations and advice on negotiation strategy.
Provide recognized internal pricing expertise and a point of reference for those in need of pricing support.
Review performance of existing pricing agreements to identify opportunities for enhancing current and future performance.
Partner with finance, technology and data teams to develop metrics and reporting tools to clearly illustrate trends and analysis of pricing performance.
Maintain pricing knowledge and regularly monitor industry pricing practices, particularly for major competitors.
Assess key trends and develop pricing models for legal services and monitor cost savings and implementation of those models.
Develop and maintain a depository of pricing best practices (tools, assets).
Provide content for training materials to offices and practice groups that helps enable in-house counsel to become more skilled at estimating the scope of their matters, the time required to complete a matter, and the staffing needed.
Mentor and develop junior pricing team members as required.
Demonstrated experience in a similar role at either a financial services company or in a Legal environment.
Significant experience in a pricing / negotiation / procurement environment.
Collaborative pricing experience and a full understanding of law firm realization drivers.
Understanding of project estimation and management approaches, tools and phases of the project lifecycle.
Proven analytic and decision-making abilities.
Excellent ability to collaborate, communicate, exercise judgment and present key pricing strategies and concepts to senior stakeholders.
Experience and knowledge in sourcing and negotiation topics, business process outsourcing and supplier relationship management.
Substantial experience in pricing strategy, structures and analytics, including development of Excel based pricing models.
Thoughtful and innovative approach with an ability to influence senior management and achieve wide scale engagement in new pricing initiatives.
Exceptional project management skills with meticulous attention to detail, timing, deadlines and organization.
High degree of flexibility and creativity.
Must be proactive- including escalating issues and proposing solutions.
Ownership of quality product and product delivery.
Ability to work independently and on a fast-paced collaborative team.
Ability to manage multiple priorities and responsibilities.
Driven, enthusiastic and positive “can-do” attitude.
Bachelor’s degree in Finance, or business-related field or equivalent experience.