Senior Pricing Analyst

Milbank LLP•Kansas City Metropolitan Area, KS

About The Position

As a member of the Pricing Team, the Senior Pricing Analyst supports the Firm’s attorneys in developing pricing arrangements and client budgets. The role also contributes to analytical tools and reporting systems used to develop alternative fee arrangements, monitor performance against budgets, and assess the financial impact of pricing arrangements. The position works with attorneys and management teams across the firm, as well as colleagues on the Revenue and Finance Teams, to support pricing strategy and profitable growth.

Requirements

At least 3 years of in-depth pricing and budgeting experience.
At least 5 years of law firm experience.
At least 5 years of post-bachelor’s-degree experience in an analytical environment, such as accounting, finance, or economics, from an accredited college or university, or equivalent experience.
Experience with law firm technology, including 3E and Iridium.
Experience with Business Intelligence applications such as Power BI or Tableau.
Experience with alternative pricing structures, portfolio management, and financial engineering or modeling.
A solid understanding of the life cycle of litigation, dispute, or arbitration engagements and their potential costs; experience with other practice areas is also relevant.
Experience constructing complex models, financial analyses, and reports using Excel, Access, and other relational database systems.
Ability to communicate effectively with a wide range of people, including partners, business development professionals, and accounting staff.
Strong analytical, evaluative, and critical-thinking skills.
Ability to adapt quickly and remain flexible in a high-pressure, deadline-driven environment.
Ability to work independently and as part of a team, including across geographical borders.
Ability to manage multiple assignments and prioritize work effectively.
Ability to work effectively in diverse cultural and business environments, using various communication methods to influence and lead others.
Ability to apply learning in fast-paced business situations.

Nice To Haves

Exposure to pricing decisions and fee negotiations.
Experience with practice areas beyond litigation, disputes, or arbitration.

Responsibilities

Develop financial models and analytics to support pricing proposals.
Compile and analyze historical data and statistics related to revenue, realization, and profitability.
Support partners’ pricing requests, including preparing fee estimates, developing appropriate pricing approaches, and communicating fees and value pricing.
Work with management groups and attorneys, using tools and analytics to guide rates and pricing strategy and maximize profitable growth.
Provide ad hoc training to attorneys on maximizing profitability and returns on alternative fee arrangements.
Collaborate with the management team to create matter budgets.
Help develop and report internal department metrics that highlight the Pricing Department’s impact on the firm.
Develop and maintain databases of historical matter pricing data to improve fee estimates for partner client pitches.
Create and document best practices related to pricing and profitability.
Work with the Revenue and Finance Teams to identify effective ways to extract relevant financial data for pricing and financial analysis.
Review outside counsel guidelines for new matters to ensure proper tracking and setup.