Pricing Strategist
Baker McKenzie
Hong Kong
3天前

Role purpose

To support the Pricing Strategy function by preparing analyses to drive the design and negotiation of client relationship fee deals for major clients (e.

g. Industry, Regional and Local Key Clients) and on the pricing of high-value matters across the Firm.

  • To contribute business analysis (inclusive of data collection and analysis, fact-finding and stakeholder engagement) to change-oriented projects to drive Firm-wide profitability;
  • support select client teams the development of appropriate commercial approaches for our clients; provide more robust and regular analysis of key pricing, practice group and client matter trends that can be applied to proposals and pitches;
  • and support the effective identification and implementation of pricing-related initiatives in order to enhance the Firm's global pricing capability.

    Main responsibilities

  • Engage directly with the Firm Partners, frontline client service teams, and BDMC teams to provide guidance and enablement on pricing, whilst liaising with fee earning teams on service delivery, and Finance teams on operationalising commercial terms
  • Drive the development of client relationship / matter fee deals : Create appropriate scenario-based models to assess the financial and profitability impact of pricing options Develop feasible pricing solutions that satisfy client objectives and brief decision-makers on financial implications of various pricing terms Monitor and analyze the financial performance of alternative fee based matters in order to identify and communicate best practices to improve future outcomes
  • Conduct and deliver pricing and profitability analysis on major clients, industry groups, practice groups and offices : Analyze and interpret client billing and collections data, independently research matters to investigate scope and cost, and engage (where appropriate) with specialist teams to build operational context on historic matters Work closely with the Firm's BDMC team to provide analysis supporting client and practice development initiatives
  • Drive historical financial and operational analysis of key service lines to evaluate pricing performance and cost profiles, including design and development of integrated analysis of quantitative data as well as collection and interpretation of qualitative intelligence : Contribute to the design and testing of new analytical models and methods, including composite metrics, dynamic financial models, and enhanced taxonomy and classification systems for core data sets Assist in the design and execution of qualitative research methods to support operational reviews, including surveys and stakeholder interviews Engage with fee earners, process engineers and service designers to refine cost-side assumptions, including scope, inputs, task complexity and staffing options
  • Develop and refine analytical pricing tools : Contribute to development and ongoing improvement of analytical pricing tools, including the Firm's Global Rate Card, Matter Pricing Tool and other bespoke tools Enhance and further develop tools and processes to support engagement scoping, budgeting and analysis
  • Apply pricing-related market intelligence to the development of new pricing arrangements : Interpret available industry pricing trends and competitor rates in region to inform pricing strategy at timekeeper, client, industry and practice levels Review and distill findings on a regular basis from key sources of competitive intelligence and client feedback for briefing to client service and business teams
  • Support the development of pricing-related training and assets : Assist in the development of practice or firm-wide pricing-related training, including (but not limited to) presentations to the financial control community, client managers and client teams Maintain various databases in order to track pricing arrangements and expiring fee deals
  • Travel requirements

    This role will not require travel

    Function

    The Firm's Services function works closely with our Partners and fee-earners to deliver comprehensive, high quality and high value services to our clients.

    It is geared towards improving operational and financial performance, and constantly rethinking the services we offer, as well as developing new innovative solutions and platforms.

    The core teams within Services are :

  • Business Management
  • Legal Project Management
  • Pricing Strategy
  • Service Design
  • Alternative Legal Services
  • Global eDiscovery and Data Advisory
  • You will report to

    Senior Pricing Manager

    Key relationships

    Client Service Teams in the region

    Finance teams in the region

    Practice Group Leaders in the region

    Business Development Marketing & Communications teams

    Other teams within the Services function such as Business Management, Legal Project Management, Alternative Legal Services and Service Design

    Technical skills, qualifications and experience

  • Relevant undergraduate degree required; coursework in business, finance, accounting, applied math or statistics strongly preferred
  • Proficiency in applications for data analysis, charting, visualization and presentation : Excel, Power BI, PowerPoint, Tableau, QlikView
  • Experience with data manipulation for exploratory analysis and insight generation; proficiency with Python or R a plus
  • Some experience with financial analysis or business management, ideally in a professional services environment
  • Familiarity with law firm operations, legal accounting and finance
  • Familiarity with the elements of law firm profitability at practice group, service line, client, matter and attorney level
  • Rigorous integrated analytical and financial management skills
  • Some familiarity with, or an aptitude for development of, market practices relative to pricing, legal project management, practice innovation approaches and partnering with emerging providers within a law firm setting;
  • awareness of technology applicable to the function; demonstrated knowledge of the global marketplace for legal and professional services

  • Outstanding communication skills; demonstrated ability and desire to work collaboratively with senior-level professionals to help them succeed in meeting their business development objectives
  • Ability to work independently; willingness to work hands-on to achieve objectives in a relatively flat organizational structure
  • Personal qualities

    These personal qualities represent the shared characteristics of high performers across Baker McKenzie, regardless of job level and location.

    Know how

  • Keeps across key developments in all relevant areas and demonstrates the ability to develop substantive authority in relation to the Firm's specialist fields
  • Demonstrates the ability to identify the real issue, and to anticipate requirements and potential consequences; distils a range of possibilities by thinking in a considered, prudent manner
  • Able to move through a variety of tasks requiring different approaches, knowledge, and expertise, with agility of mind and capacity for analysis and synthesis
  • Dedication

  • Driven by a strong personal sense of integrity and upholds exemplary quality standards
  • Prepares thoroughly, takes responsibility, uses initiative and is self reliant to ensure work progresses to the fullest extent possible
  • Hardworking and diligent with a keen understanding of client demands
  • Demonstrates composure when dealing with difficult situations
  • Personal Impact

  • Creates a positive impression at all times; develops relationships through collaboration and reciprocity
  • Negotiates to achieve outcomes that are mutually satisfactory; shows good judgement on when to stand strong and when to compromise
  • Invests in, nurtures and builds a network of productive relationships
  • Humanity

  • Respectful to others, regardless of their position, and earns the respect of others by being transparent
  • Has care and concern for others and a genuine interest in others as people
  • Treats delicate or confidential issues with grace and discretion
  • About Baker McKenzie

    Baker McKenzie helps clients overcome the challenges of competing in the global economy. We solve complex legal problems across borders and practice areas.

    Our unique culture, developed over 65 years, enables our people to understand local markets and navigate multiple jurisdictions, working together as trusted colleagues and friends to instill confidence in our clients.

    This is an exciting time to join us as we invest in and further develop our Professional & Business Services organisation, providing rewarding and challenging career opportunities in all of our world-class business functions.

    We are committed to promoting diversity and inclusion for all. Our unique international culture is reflected in the drawing together of a worldwide family of individuals from diverse cultures and backgrounds in all of our offices.

    We encourage the best people regardless of race, religion or belief if any, gender, gender identity, disability, sexual orientation or age to fulfil their professional aspirations with us.

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