Practice Manager- Asset Management - Fried Frank Business Services Opportunities

Position Summary:

The Practice Manager plays a key role in the management of the Firm's leading global Asset Management practice, which includes 76+attorneys and paralegals in our Private Equity Fund Formations, Derivatives, Regulatory, and Subscription Document Review teams. Working closely with the Practice Group Heads (PGHs) and partners, the Practice Manager will build trust and credibility with each team member, supporting a high-performing and cohesive team across all offices. This is a new position and an exciting opportunity to support the practice's further growth, including helping to shape practice management support for the group's continued success. As a member of the Corporate Practice Group Management team, the Practice Manager serves as the Asset Management/Private Equity Fund Formation group's primary liaison to other practice groups and the Firm's business services functions. The Practice Manager will be knowledgeable about the practice area, market, and client relationships, and understand how they relate to practice group, Department, and Firm priorities. 

Duties & Responsibilities:

Business Planning

• Assists in preparing the annual practice group business plan, managing implementation, monitoring progress, and suggesting proactive measures to achieve priorities. Manages strategic initiatives and other projects, including collaborating with Business Development/Marketing to ensure alignment of resources.

 Staffing

• Manages and supports staffing together with the group's staffing Partners and PGHs, ensuring that each attorney (i.e., special counsel and associates) is fully utilized while balancing client needs with development goals.
• Proactively monitors group activity, including individual attorney activity and client-matter status, to inform staffing.
• Strives to provide consistency of experience and equitable distribution of assignments through the development and management of an effective and efficient staffing system.
• Manages work assignment policies, procedures, and systems, including work assignment tracking, time-entry compliance, vacation requests/approvals, etc.

Attorney Development and Professional Development

• Develops an in-depth understanding of development needs within the group and manages attorney satisfaction and retention initiatives. Prepares and follows through on individual attorney development plans.
• Acts as a confidant for attorneys. Guides and coaches' attorneys, and connects them to Firm or other resources.
• Manages all aspects of the review process, including drafting year-end and interim review messages.
• Addresses and monitors performance issues. Liaises with Attorney Resources regarding performance issues, leaves of absence, secondments, transfers, outplacements, exits, and other personnel and HR matters.
• Manages the attorney compensation process for the group.
• Identifies training needs and develops substantive programs. Manages all aspects of the group's practice-specific training programs, including coordinating CLE requirements with Professional Development.
• Tracks the group's pipeline for promotion. Manages the annual promotion process for the group, including business case development and drafting promotion memos.

Recruiting and Attorney Integration

• Coordinates with the Recruiting Department regarding entry-level and lateral hiring needs.
• Coordinates onboarding and integration of entry-level and lateral attorneys into the group.
• Supports the integration of lateral partners, including helping to prepare integration plans and facilitating connections within the group and across the Firm.

Administration, Operations, and Financial Management

• Maintains attorney rosters, email distribution lists, and other attorney and practice group information.
• Organizes, helps set agenda for and supports Partner meetings, and follows up on action items to drive progress.
• Supervises all practice group meetings and training logistics with legal executive assistants and the Coordinator.
• Responds to a wide variety of requests. Acts as point person for problem-solving and resolution.
• Monitors group financials and helps to address issues and opportunities. Requests or runs reports and analyzes data to inform decision-making. Coordinates billing rate adjustments with Accounting. Manages expense budget.
• Facilitates information-sharing within the group and across the Department. Coordinates with Knowledge Management colleagues to support productivity and efficiency through KM projects and practice technology.
• Supervises the Practice Coordinator and provides administrative support concerning the group's paralegals.

Communications and Team-Building

• Develops and manages initiatives to create a cohesive team and meaningful connections within the group.
• Coordinates and develops agendas and substantive topics and presentations for practice group meetings.
• Facilitates communication within the group, including proactively developing and managing various practice group communications, such as the Asset Management intranet page, email communications and announcements, PGH talking points, practice group presentations, etc.
• Proactively identifies opportunities for and coordinates team-building events and activities in collaboration with the Events team and other Firm resources.

Qualifications:

Education: Undergraduate degree required. J.D. or a graduate degree in a relevant discipline (e.g., business administration, organizational development, human resources) a plus.

Experience: 5+ years' experience at a professional services firm. Prior experience with law firm or other professional services staffing highly desired. Prior practice management, professional development, or firm management experience in a corporate practice setting is preferred.

Skills & Abilities:

Excellent interpersonal and communication skills (oral and written); strong influencing capabilities; sound judgment to effectively gain credibility and trust. Well-honed financial, analytical, and project management skills, ability to multitask, and track record of strong, demonstrated leadership. An inclusive approach, with the flexibility to build consensus and find creative solutions. Ability to adhere to the highest process standards and stand firm on decisions. Ability to work under pressure and shifting priorities. Integrity, maturity, and fairness in dealing with people and confidential information. Proficiency in Microsoft Office required. Familiarity with SharePoint (or similar), CRM and timekeeping applications and technology a plus.