Pricing Analyst

Overview

Based in our London office, this role sits in the Revenue, Pricing and Credit Control team. There are c.67 employees in the Finance team based across London, Cheltenham and Hong Kong, divided into four key areas: Reporting and Analysis (including Management Accounts, Business Intelligence, Financial Control and Business Partnering teams); Financial Systems; Cash Operations; and Revenue, Pricing and Credit Control.

Reporting into the Pricing Manager and working closely with the Head of Revenue, Pricing and Credit Control, the Pricing Analyst will also collaborate with other members of the Revenue team and the wider Finance Department. The role will assist with analysis on client rates, fee structures and discounts and prepare advice for Partners on how to improve profitability through altering them.

Role and Responsibilities

• Support the Pricing Manager regarding pricing and fee arrangement queries as required, for example, preparation of RFP responses, other presentations, and participation in presentations (internally and directly to clients).
• Model proposed fee arrangements (including preparation of budgets); create and review reports pertaining to pricing.
• Understand the Rates Process within 3E to include applying and implementing Rate Sets.
• Develop an understanding of the Evaluate pricing tool; provide functional and administrative support; maintain a close working relationship with the Financial Systems team.
• Understand phase templates at CRS and how these relate to time recording.
• Provide training to the Firm on the Evaluate pricing tool.
• Support the business with maintenance of work types and their relationship to phase templates.
• Assist in the annual rate setting process including annual matter/exception rate review.
• Coach partners and fee earners in the use of the Evaluate pricing tool and assist in the development of matter budgets.
• Maintain phase templates/work types with Heads of Groups and consider any requests to amend them.
• Maintain a close working relationship with the Reporting and Analysis and Revenue teams, assisting with analysis on client rates, fee structures and discounts and advising Partners on how to improve profitability through altering them.
• Support the rest of the Revenue and wider Finance team on ad-hoc tasks as required.
• Comply with all relevant legal and regulatory obligations including the Solicitors Regulation Authority (SRA) Standards and Regulations and Principles.

Qualifications and Experience

• Experience in a Pricing/Finance team, ideally within the legal sector.
• Ideal experience in the use of Aderant or Elite.
• Understanding of pricing, calculating fee arrangements and the levers affecting profitability.
• Experience of influencing decision makers and Partners on pricing issues and working capital; confident in explaining andJustifying proposals.
• Excel skills demonstrating use of pivot tables, v-lookups, macros; knowledge of Power BI is advantageous but not essential.

Person Specification

• Conscientious and methodical with excellent attention to detail.
• Numerate; strong communication skills with the ability to deal with partners and fee earners at all levels.
• Proactive and able to use initiative; able to work autonomously.
• Confident to bring ideas to the table in discussions with Partners; flexible and able to adapt to changing requirements and circumstances.
• Able to work under high-pressure deadlines and analyse and model financial data to assist in pricing decisions.
• Demonstrates interpersonal skills to deal with other teams within finance and support areas; capable of explaining concepts to non-finance staff; project management skills to manage conflicting timescales and priorities.
• Works well within the team to support the delivery of time-critical projects.

Competencies

• Working together

Hybrid working

Hybrid and flexible working approach, dependent on the requirements of the role and subject to manager approval.