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Simpson Thacher & Bartlett LLP · 3 months ago

Associate Director, Pricing

New York, NY

Full-time

Hybrid

Senior Level, Lead/Staff, Director/Executive

$250K/yr - $300K/yr

10+ years exp

Simpson Thacher & Bartlett LLP is a leading law firm, and they are seeking an Associate Director of Pricing to lead the design and implementation of innovative pricing strategies. This role involves collaborating with various stakeholders to develop competitive pricing models and ensure compliance with client requirements, while also overseeing a team responsible for financial compliance and fee agreements.

Law Practice

Responsibilities

Partner with the Director to translate firm strategy into actionable pricing initiatives

Lead a team that supports pricing, compliance, and fee agreement tracking, ensuring delivery against agreed goals

Serve as trusted advisor to firm leadership, practice group heads, and partners, influencing strategic decision-making on pricing and client value

Partner with practice groups and business development teams to develop competitive fee proposals and alternative fee arrangements (AFAs)

Analyze profitability drivers to recommend pricing models that balance client needs with firm objectives

Track competitive market data and pricing trends by region, practice area or other relevant differentiators

Identify and partner with pricing contacts within client organizations. Build relationships with these contacts to deepen the Firm’s understanding of client priorities on matters

Work directly with partners to develop pricing approaches tailored to client needs while ensuring profitability

Educate and coach partners and senior management on pricing strategy, negotiation approaches, and market developments

Conduct training sessions, workshops, and one-on-one coaching to build firm-wide standardized pricing acumen

Work with Partners on submissions to Finance Committee for AFAs and discount arrangements, which includes developing ad hoc analysis including trends, peer rate comparisons, comparative client analysis

Represent the pricing function in high-level meetings with clients, practice leadership, and firm committees

Oversee the team responsible for reviewing, interpreting and monitoring compliances with client Outside Counsel Guidelines (OCGs), focusing on financial provisions

Ensure that the firm’s pricing, billing, and matter management practices comply with client requirements and mitigate compliance risk through proactive management

Establish reporting mechanisms and accountability frameworks to track compliance firm-wide

Develop firm-wide frameworks for tracking fee arrangements, matter budgets, and financial performance

Lead the creation of pricing guidelines, playbooks, and reporting tools to ensure consistent, data-driven decision making

Drive continuous improvement by embedding best practices in scoping, budgeting, and fee negotiations

Collaborate with business development and other Finance teams to enhance client value delivery

Stay on top of developments in pricing, profitability, and legal technology, evaluating tools that enhance efficiency, transparency, and client service

Champion adoption of new pricing technologies and systems to improve analytics, reporting, and compliance

Ensure the team is trained and equipped to leverage emerging tools effectively

Play an active role in RFPs, client negotiations, and fee discussions

Provide strategic support in creating and presenting value-driven, competitive proposals

Qualification

Strategic pricing analysisFinancial modelingAlternative fee arrangementsLeadership experienceExcel proficiencyBudgetingForecastingPresentation skillsNegotiation skillsProblem-solving abilitiesCommunication skills

Required

Bachelor's degree in finance, accounting, business, or related field

10+ years of directly related experience in strategic pricing analysis and reporting in a law firm or a professional services firm, with Excel modeling, profitability analysis and budgeting/forecasting

Proficiency in MS Office suite, particularly Excel and PowerPoint

Demonstrated leadership experience, with proven success in managing teams (motivating, supervising and training) and influencing senior stakeholders

Strong financial modeling and analytical skills with the ability to utilize tools to compile and analyze data and recommend and/or implement solutions to complex problems

Significant working understanding of alternative fee arrangements and pricing of legal/professional services

Demonstrated ability to apply principles of logical thinking to define problems, collect data, establish facts, and draw valid conclusions

Self-assured self-starter capable of thriving in a dynamic environment

Experience working with all levels of personnel within law firms and clients

Excellent written, verbal, presentation skills

Demonstrates strong problem-solving abilities and effective negotiation skills

Proven ability to adapt to change and balance competing demands and priorities

Commercially minded, proactive, and adaptable, with the ability to deliver on strategic goals while managing day-to-day operations

Advanced proficiency in developing and maintaining pricing tools and databases