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Head of Pricing & Commercial Management - Finance
New York, NY
Job Description
A&O Shearman is a new global industry-leading law firm, with 48 offices in 29 countries worldwide. Our fluency in English law, US law, and the laws of the world's most dynamic markets, enables us to provide unmatched insight and seamless delivery to clients. We work on challenging and important deals and disputes that have the potential to shape the future.
We offer exceptional opportunities for our people; opportunities to work for the world's leading businesses; to transform the status quo, and to deliver your best work, helping you and your career to thrive, while delivering unparalleled outcomes for our clients.
Department purpose
Achieving the firm's vision requires a world class Finance department and our teams add value when the information we produce enables great decisions. That means producing information that is relevant, accurate and understandable and doing so as quickly as possible. It also means building relationships with the Partners and other decision-makers in the firm so that they trust us to advise them on what the information means and what the best course of action is.
Role purpose
We offer exceptional opportunities for our people; opportunities to work for the world's leading businesses; to transform the status quo, and to deliver your best work, helping you and your career to thrive, while delivering unparalleled outcomes for our clients.
Department purpose
Achieving the firm's vision requires a world class Finance department and our teams add value when the information we produce enables great decisions. That means producing information that is relevant, accurate and understandable and doing so as quickly as possible. It also means building relationships with the Partners and other decision-makers in the firm so that they trust us to advise them on what the information means and what the best course of action is.
Role purpose
- Act as business partner and trusted advisor to US partners and other senior decision-makers with the principle objective of optimizing revenue and matter profitability, on boarding new clients
- Set the agenda for the US Pricing Committee and supporting pricing decisions and rate negotiations.
- Lead, inspire and develop a team who manage the entire US Pricing and Commercial life cycle (from time recording to cash collection) and ensuring a responsive and commercially sound service.
- Develop relationships with senior finance staff at US clients to ensure prompt and efficient collections.
- US CFO
- Director and Senior Manager of Working Capital
- US Pricing and Commercial Senior Manager and US Working Capital Senior Managers and their teams
- US Pricing Committee, US partners, matter managers, fee earners and US Business Development teams
- Shared Service Centre (SSC) teams in Belfast and Advanced Delivery team managers (Peerpoint, Legal Services Centre, etc.)
- Global Pricing and Working capital teams across the A&O network
- Pricing and Business Partnering
- Drive US rate negotiations for the firm's US managed clients which may include: (i) providing timely, accurate and relevant financial information for decision-making, (ii) profitability forecasting based on multiple levers/potential outcomes, (iii) negotiation strategy and (iv) influencing or offering advice to relationship partners as appropriate to optimize the outcome of the negotiations.
- Set the agenda for the US Pricing Committee and propose annual rate increases for discussion.
- Provide commercial advice to partners contemplating new client agreements and ensure all relationships are accurately documented and maintained.
- Prepare financial analysis to support the pitching process taking a macro-economic view of pricing proposals by considering peer group data trends, external market data, and economic indicators within a client's regional footprint.
- Matter profitability and project management
- Analyze current billing and profitability information and other items of a complex nature for reporting and problem-solving including calculating PPP analysis of individual matters.
- Review budgets for discussion with matter partner's prior to accepting new engagements.
- Project manage matters to monitor utilization of staff, and control margins through the assessment of time and cost write-offs, and support proactive measures to increase margins where possible.
- Delivery, design, and preparation of financial presentations, and ad hoc client reviews.
- Oversee the effectiveness of client billing and collection processes, and initiate improvements to enhance the quality of service and reduce net investment days.
- Manage the region's client revenue and net investment balances (WIP and Debts), meet with partners as necessary, report regularly on positions, and escalate increasing client exposures.
- Review billing write offs and aged debts to ensure any material amounts are investigated and corrective action taken.
- Develop an in-depth understanding of our clients and matters together with their billing requirements and use this to lead the monthly process, identifying areas for continual improvement.
- Develop relationships with the global pricing and marketing teams.
- Provide financial support for internal and external client meetings, determine nature of meeting and provide succinct financial advice and help drive client listening on price.
- Establish working relationships with external clients to facilitate the resolution of issues that may arise.
- Manage offshore Belfast SSC and Advanced Delivery relationships to ensure the US, its partners and clients receive a high quality service
- Provide leadership, seek opportunities for growth and create a strong, collaborative, resilient and successful team.
- Set annual objectives for the team managers and ensure quarterly performance reviews are held taking into account each individual's aspirations, A&O finance strategy, and future development of finance function.
- Ensure teamwork load is appropriately balanced and partners are receiving appropriate support.
- Invest in project management and pricing knowledge to continually increase value to the business.
- At least 15 years' experience in a management and/or operational role in a leading company/firm with profit centre responsibility. Experience of a partnership environment and working in a matrix organization is advantageous. MBA or recognized accountancy qualification required along with advanced proficiency in Excel and PowerPoint.
- A credible individual with gravitas, resilience and high level of intellectual ability who is able to develop effective working relationships with the ability to influence at all levels.
- Must be a self-starter with drive, enthusiasm, and tenacity, possessing excellent communication skills both written and verbal.
- Must be comfortable working directly with senior leaders and have confidence to encourage and challenge partners.
- Strong team management and development skills as well as supervision of remote teammates with an appreciation for working cross culturally.
- An understanding of the global finance markets and excellent analytical and numeracy skills. The role requires a big-picture approach and an appreciation of the commercial realities of a dynamic, fast-moving practice.
- Attention to detail, organizational skills are necessary along with an ability to work under pressure and cope with the high and varied workloads.
- Occasional travel required both domestically and internationally.
Job Summary
Company
Start Date
As soon as possible
Employment Term and Type
Regular, Full Time
Required Education
Master's Degree
Required Experience
15+ years
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