Pricing Analyst - (Hybrid Schedule) at Reed Smith LLP

Firm Information

Reed Smith is a dynamic international law firm dedicated to helping clients move their businesses forward. With an inclusive culture and innovative mindset, we deliver smarter, more creative legal services that drive better outcomes for our clients. Our deep industry knowledge, long-standing relationships and collaborative structure make us the go-to partner for complex disputes, transactions and regulatory matters.

Our team of 3,000 people (including more than 1,600 lawyers) across more than 30 offices in the United States, Europe, the Middle East and Asia, operate as one global partnership to drive progress for our clients, for ourselves and for our communities.

Position Summary

This position will assist the members of the Client Value Team in all aspects of the Firm’s pricing strategy. Working under the supervision of the Manager – Legal Project Managementand Senior Manager – Strategic Pricing U.S., the incumbent will help develop the Firm’s fee arrangements, based on the Firm’s current strategic goals, and will help analyze the results for future success. Duties include, but are not limited to, understanding the Firm’s historic pricing performance and current pricing options, making strategic pricing decisions and recommendations to firm partners, modeling and creating various fee arrangements, preparing pricing content for external audiences (including RFP responses), maintaining and updating databases used to track pricing projects, collaborating with team members on analyses of closed matters, assisting other Firm departments (e.g., Business Development, Legal Operations, Accounting) to meet client deadlines, and supporting senior members of the team as necessary.

Job Duties and Responsibilities

• Develop the Firm’s fee agreements—at the Firm, Department, Practice/Industry Group, and Client levels—considering current best practices and including analysis of prior work.
• Produce and run pricing models for all projects.
• Collaborate with Business Development regarding necessary pricing content to prepare Firm’s RFP responses and other presentations (such as client meetings).
• Maintain and update fee arrangement databases.
• Assist attorneys with AFA education, modeling, and creation.
• Support attorneys by providing financial analysis and pricing guidance on their client/matter portfolios.
• Offer coaching and guidance to Partners, business professionals, and Client Relationship Leaders (CRLs) on crafting effective pricing solutions that strike a balance between client requirements and the firm’s profitability.
• Assist Manager – Legal Project Management   and Senior Manager – Stragtegic Pricing U.S. with closed matter analyses.
• Contribute to Client Value Team projects and initiatives.
• Demonstrate a high level of service delivery; do what is necessary to ensure customer satisfaction; deal with service failures and prioritize customer needs.
• Perform ad hoc analysis using the Firm’s profitability model and provide recommendations to increase profitability and efficiencies.
• Summarize detailed pricing analyses for high level consumption.
• Compile data from multiple sources and prepare reports.
• Proactively work cross functionally to ensure all pricing-related RFP requirements are complete.

Job duties and responsibilities included are not exhaustive and may be supplemented as necessary. Reed Smith reserves the right to revise or modify job duties and responsibilities at any time. 

Requirements

Education:  Bachelor of Science – Business/Finance preferred, economics, statistics, data science, or similar discipline/experience considered.

Experience:  Minimum of three years of experience in accounting, financial analysis, data science, or paralegal field.  Experience within the large law firm or professional service firm sector a plus.  Experience with RFP responses and strategic pricing preferred. 

Skills: 

• Soft skills are highly important - Attention to detail and accuracy is imperative. 
• Advanced Microsoft Excel skills (including use of pivot tables, Vlookup, charts/graphs, what/if statements, financial formulas). 
• Familiarity with Power BI or other business intelligence software. 
• Confidently presenting complex financial information and metrics to any audience - either verbally, by email, in slide format, or via formal presentation.
  Excellent interpersonal and written/oral communication skills. A good listener with the ability to present their views in a clear and compelling manner. Open to leading difficult conversations regarding matter performance to reach firm goals of increasing profitability and efficiency.
• Accounting systems experience – 3E System is a plus (i.e., familiarity using rate lookup, master cube summary data pulls, matter group inquiry, etc.). 
• Using generative AI programs such as Microsoft Co-Pilot and Chat GPT to bolster efficiency and drive innovation. 
• Knowledge of data querying, either using SQL or tools such as Snowflake. 
• Ability to work in Microsoft Teams to hold meetings and work collaboratively with departments across the firm, or related experience with similar software (Slack, Asana, etc.
• Strong analytical skills, a high degree of intellectual curiosity, and the ability to engage with other team members in addressing a variety of accounting, reporting, and strategic business issues.
• An energetic, hands-on individual with a strong bias for action, someone who commits themselves fully to stretch goals, is receptive to ongoing coaching and development and who is dedicated to delivering outstanding results.
• Ability to manage multiple concurrent assignments to meet reporting deadlines.  A highly motivated team player who contributes to an atmosphere in which people work together to produce superior results.
• Unquestionable integrity, credibility and character who has demonstrated high moral and ethical behavior.
• Familiarity with reverse auction process and procedures – strategic pricing recommendations.
• Assisting partners with negotiating fees and providing justification on those recommendations.
• Experience working in a high-pressure environment such as a law firm or big four consulting firm imperative.

Other

Supervisory Responsibilities:  May be tasked with delegating to Pricing Specialist(s) and Client Value Interns.

Equipment To Be Used:  Personal computer and other office equipment such as telephone, calculator, fax, machine, copier, scanner, etc.

Essential Job Functions: 

• Ability to work in a fast-paced environment.  
• Ability to make judgment decisions and adapt to changing situations.  
• Ability to communicate effectively orally and in writing with various personalities at all levels. 
• Ability to handle multiple tasks and diverse work problems on a daily basis and complete assignments within set timelines
• Ability to sit for prolonged periods, intense eye usage, and finger, hand and wrist dexterity associated with prolonged computer use.
• Must work in office as required.  
• Keen problem-solving and troubleshooting abilities and solutions-oriented thinking.  
• Must be able to travel for meetings and training as required.

Working Conditions:  Works in a typical office setting. Will need to be flexible with respect to time zones and need for working hours in excess of your normal daily schedule. May require travel to other offices or client sites.  You will be required to work in the office at minimum 3 days per week.

Pay Ranges:

This represents the presently-anticipated low and high end of Reed Smith’s pay range for this position. Actual pay may vary based on various factors, including but not limited to location and experience.

• Pittsburgh, Miami, Houston, Dallas: $71,500 - $80,000
• Chicago, Philadelphia: $76,500 - $85,000
• Washington, DC: $81,500 - $90,000

Benefits Package Overview:

• 401k Plan
• Medical
• Health Savings Account
• Virtual Health
• Dental
• Vision
• Accident Insurance
• Hospital Indemnity
• Critical Illness Insurance
• Life Insurance
• Short-Term Disability
• Long-Term Disability
• Flexible Spending Accounts
• Lyra Health Employee Assistance Program (EAP)
• Paid Family Leave (for eligible Exempt and Non-Exempt Staff)
• College Savings Plan
• Transportation Benefit
• Back-up Child Care
• College Coach
• Pet Insurance
• Paid Sick Time (all exempt roles)
• Paid Time Off (all full time exempt and non-exempt staff.   Does not include temporary full time work)

 

Reed Smith offers a challenging work environment, business casual dress code and a total compensation package that includes a competitive salary, flexible benefits program, tuition assistance, and generous 401 (k) plan.

Reed Smith is an Equal Opportunity Employer. Reed Smith's success depends heavily on the effective utilization of qualified people, regardless of their race, ancestry, religion, color, sex, age, national origin, sexual orientation, gender identity and/or expression, disability, veteran's status, or any characteristic protected by law. As a firm, we adhere to and promote equal employment opportunity for all.

Reed Smith provides reasonable accommodations for persons with disabilities, including in the application and interview process.

Qualified candidates only. No search firms.