Client is seeking a Practice Economics Manager to join thier downtown Houston Law Firm.

As a member of the Practice Management team, the Practice Economics Manager collaborates with the Chief Practice Management Officer, CFO, Department Chairs, other Partners, Client Relations, and Financial Services in order to monitor Departmental performance against various metrics and assist with the execution of both Departmental strategic initiatives and daily operations.

Primary Responsibilities

• Liaise with Department Chairs to establish and monitor performance against goals and key performance indicators, including utilization, leverage, realization, revenue and profitability.
• Responsible for management reporting including monthly reporting to Departmental leadership and quarterly presentations to Executive leadership.
• Responsible for routinely highlighting outlier matters, clients, and individuals and escalating for review by Department Chair and Senior Management, as appropriate.
• Partner with Department Chairs and Practice Group Heads to develop pricing strategies tailored to specific practices and/or markets.
• Liaise with Pricing and Business Development to support the preparation of fee proposals, Success Fee Arrangements (SFAs), and Alternative Fee Arrangements (AFAs). Monitor the progress of SFAs/AFAs against established budgets.
• Facilitate execution of Departmental and individual Partner business plans and highlight opportunities for improved efficiency and performance.
• Develop and present educational and developmental content around the business of law to Partners.
• Utilize dashboards, canned reports, and ad hoc reporting systems to develop and maintain an understanding of the financial and business development environment within assigned Departments.
• Monitor Departmental inventory aging (WIP and A/R), timekeeping and invoicing hygiene, and collections. Identify and escalate problems. Assist with past due and year-end collection efforts.
• Develop matter budgets and monitor execution against budgets.
• Regularly produce reports to keep the firm apprised of various business pricing activities.
• Assist with the development of and management to Departmental budgets (Business and Professional Development). Prepare, maintain, and provide reporting on variance to established budgets.
• Other business duties and ad hoc analysis as assigned.
  

Process Management and Improvement

• Monitor productivity, workload, and assignments.
• Assist in the administration of performance evaluations and compensation review.
• Support matter and client intake, experience tracking, and develop an understanding of key conflicts issues.
• Assist with lateral lawyer orientation and integration.
  

Basic Requirements

• Five years of experience at progressing levels in business operations, managerial administration, or financial planning and analysis.
• Prior experience in a law firm or professional services industry is preferred.
• Bachelor’s degree in Finance, Accounting, Business Administration or a related field.
• MBA or equivalent preferred.
• Strong written and verbal communication skills.
  

Additional Requirements

• Must be a driven, self-motivated individual, capable of working with little to no guidance, yet also comfortable working in collaborative team settings.
• Solid understanding of the financial and operational aspects of a large law firm or business.
• Must exhibit professionalism in liaising with senior management, Partners, and colleagues.
• The ability to communicate effectively with Partners and Senior management is critical to success in this role.
• Display good instincts and strong decision-making skills, including the ability to understand complex situations, effectively analyze options, and recommend sound courses of action.
• Must be able to appropriately prioritize workload and delegate as needed.
• Must be highly organized and detail oriented with strong editing / proof reading capabilities.
• Proficiency with the Microsoft Office suite of applications, particularly Excel and PowerPoint.
• Experience with Redwood profitability systems and Elite preferred.