Senior Director Financial Planning & Analysis
The Washington, DC office of Finnegan, one of the world’s leading and largest intellectual property law firms, is seeking a Senior Director of Financial Planning & Analysis to join our dynamic financial services department.
Reporting to the CFO, the senior director of financial planning & analysis will lead all aspects of pricing, reporting and analysis of client, attorney, office and practice group performance and profitability. This highly strategic position will be an integral resource to firm management by providing pricing and budgeting expertise and advice, including detailed pricing analysis of client / matter engagements and RFPs, the development and maintenance of client / matter planning and budgeting systems, analysis and interpretation of internal and external trends requiring management’s attention, development of strategies for revenue optimization, and the preparation of financial and management reports and procedures. This position requires an experienced and motivated finance professional who is a proven innovative leader and manager, and is expected to develop a cohesive, high-performing team of financial analysts. This position has frequent contact with firm management, partners, other administrative departments, and will also work directly with clients and prospective clients on developing fee structures aimed at delivering cost-effective results aligned to client business needs.
Essential Duties and Responsibilities:
- Oversees development and implementation of pricing strategies aimed at delivering increased value to clients through innovative fee arrangements, process improvement, and active matter management.
- Works closely with firm management to understand and develop the firm's strategic direction and anticipate change so that pricing and financial analysis strategies and services are aligned to revenue-generating initiatives.
- Develops financial models and analytics that assess profitability and assist in developing pricing solutions and RFP responses.
- Oversees the selection and implementation of pricing management systems, analytics, tools, and related controls in order to plan and manage matter engagements and compute and track profitability across varied firm metrics.
- Formalizes the budgeting, tracking, and analysis of client fee arrangements and provides training to attorneys on the critical elements of maximizing profitability and return on alternative fee engagements.
- Creates and documents best practices as they relate to pricing and profitability; ensures optimal use of current resources and identifies opportunities to improve efficiencies and effectively leverage the skills and experience of team members.
- Implements dashboards focused on delivering key financial information to decision makers in real time.
- Develops processes to answer complex business questions through analytics.
- Drives the creation and implementation of processes for identifying, measuring, analyzing, interpreting, and communicating strategic financial information to support decision making by the firm’s management committee and administrative leadership.
- Enhances the quality and accessibility of management reporting, including provision of insightful analysis and commentary as a basis for further action.
- Leads firm financial survey efforts in evaluating market trends and benchmarking; facilitates meetings with the managing partner, COO, CFO, and CMO to review financial trends and consider media and legal press strategies.
- Works with practice group leaders to develop metrics for analyzing and evaluating attorney performance and profitability within the group.
- Assists with metrics and reporting related to the annual partner compensation process.
- Assists CFO and Controller in preparing firm’s annual operating budget.
- Develops and fosters working relationships with pricing and financial management professionals at other large law firms and experienced legal operations professionals to keep abreast of best practices and industry trends.
- Maintains up-to-date knowledge of developments in pricing and financial management in the practice of law; including resources, products, and services and current and emerging technologies.
- Provides other ad-hoc financial reporting as needed.
- Participates in or leads special projects as assigned by CFO and/or COO.
Staff Development, Leadership and Management:
- Leads team of analysts in translating analytical results into actionable recommendations.
- Fosters a collaborative approach to working within the department and across functions.
- Implements and maintains processes within team to quickly and accurately respond to ad-hoc analysis requests from attorneys and clients.
- Monitors staff workflow to ensure that workloads are appropriately weighted and balanced; coordinates assignments to meet daily, weekly and monthly deadlines.
- Identifies areas for additional training to ensure that staff have the proper skill levels and tools to effectively perform their duties and meet the firm’s high standards of excellence. Provides guidance and development opportunities to help staff members achieve longer-term career aspirations.
- Provides guidance/coaching to staff members through real-time feedback during the course of day-to-day interactions.
- Completes performance evaluation process in a thoughtful, fair and timely manner; ensures development plans are in place to monitor staff growth and make appropriate progress against stated developmental goals; monitors and remediates difficult performance situations and works with chief to take appropriate action.
- Holds regular staff meetings to discuss departmental operations issues, firm initiatives, and provide continuing education on policies and trends relating to pricing and financial planning & analysis issues.
Job-Specific Knowledge, Skills, and Abilities:
- Bachelor’s degree in Accounting, Finance or Business Administration required.
- 10+ years demonstrated track record of performance in progressively senior financial management roles within professional service firms.
- Proficiency with reporting and analytics software, SQL, data mining tools, advanced Excel skills, and the ability to learn and use additional budgeting and financial management programs.
- Knowledge of Elite Enterprise and underlying table structures.
- Full understanding of cost accounting principles as applied in a professional services environment along with the understanding of the business drivers and how they drive behavior and profitability.
- Expert understanding of legal services pricing, including alternative fee arrangements, costing of services, profitability models, and key performance indicators (KPI).
- Experience implementing profitability analysis and reporting, dashboards, and legal project management desired.
- Solid experience in interacting productively with firm leadership and key stakeholders, including coaching decision makers on issues involving pricing and profitability.
- Demonstrated success in process improvement, system enhancement, and efficiency gains, including leading implementation of new operational practices aligned to firm business needs.
- Superb customer service orientation.
- Ability to work well under pressure, facilitate solutions, and meet deadlines and milestones for assigned projects.
- Strong analytical and problem-solving skills, writing and presentation skills, and coaching and mentoring skills, and ability to effectively communicate complex financial and pricing concepts to others.
- Ability to prioritize work and be flexible in meeting changing deadlines for self and staff.
- High level of skill with interpersonal relationships and communications, both individually and in group settings.
- Ability to influence all levels of the organization.
- Must be a self-starter who understands both the details and larger context of various business issues and processes.
- Ability to conduct presentations for large groups (100+ attendees).
The firm offers an excellent compensation and benefits package and is an equal opportunity employer.
To apply for this position, please send your resume and cover letter to:
Staff Recruiting Manager
901 New York Avenue, NW
Washington, DC 20001-4413
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