Global Head of Cost Optimization & Functional Excellence

Fragomen, Del Rey, Bernsen & Loewy, LLP • Full-time • US-Matawan, United States of America • 1d ago

Job Description

We are seeking a highly skilled and experienced Global Head of Cost Optimization & Functional Excellence to lead and drive cost optimization strategies across our $1B global law firm. In this critical role, you will be responsible for identifying, analyzing, and executing cost-saving initiatives while maintaining service excellence. Your leadership will span optimizing Travel & Expense (T&E) policies and spend, managing professional services costs, overseeing key financial vendor relationships including negotiating favorable terms, and driving operational excellence across the firm.

In addition to these responsibilities, you will contribute to the firm’s leadership development by providing executive coaching and training for firm partners and senior leaders to ensure continuous professional growth and alignment with strategic objectives. Your role will also encompass building a culture of efficiency and cost-conscious decision-making at all levels, driving both financial success and organizational effectiveness.

Key Responsibilities:

1. T&E Optimization
• Lead the development and implementation of global T&E policies and procedures that promote efficiency, cost control, and compliance.
• Continuously analyze travel and expense data to identify cost-saving opportunities, optimize processes, and ensure alignment with firm-wide financial objectives.
• Assess T&E cost impact to individual customer profitability, as well as T&E contribution to total cost of firm events as the Global and Regional conferences.
• Collaborate with internal teams to streamline travel booking, expense reporting, and approval workflows.

2. Professional Services Cost Management
• Oversee the management of third party vendor, optimize service level and service terms, and implement performance management standards across service network.
• Partner with department heads to negotiate competitive rates and ensure service quality standards are met.
• Develop strategies for monitoring and managing professional services budgets, ensuring that expenditures align with firm objectives.

3. Vendor Relationship and Service Quality Management
• Serve as the global lead for key financial and operational vendor relationships, ensuring strategic alignment and value delivery.
• Regularly review and assess vendor performance, addressing areas for improvement and driving continuous service quality enhancements.
• Negotiate and manage contracts, SLAs, and performance metrics to ensure value-for-money and long-term cost efficiency.

4. Cost Optimization Strategy & Leadership
• Develop and implement cost-saving initiatives across multiple areas of the firm, collaborating with cross-functional teams to ensure buy-in and successful execution.
• Establish key performance indicators (KPIs) to track cost-saving initiatives and demonstrate the impact on the firm’s bottom line.
• Provide senior leadership with regular updates on cost optimization efforts, progress, and results.

5. Executive Coaching & Partner Training
• Provide executive coaching and leadership development for firm partners, focusing on enhancing leadership effectiveness, decision-making, and cost-conscious management.
• Develop and deliver tailored training programs to firm partners and senior leaders to reinforce the firm’s financial and strategic goals, optimizing their role in cost management.
• Foster a culture of continuous improvement and innovation, aligning leadership with best practices in operational efficiency and cost control.

6. Budgeting and Financial Reporting
• Lead the forecasting and budgeting process related to T&E and professional services expenses.
• Work with finance teams to provide detailed cost analysis and identify trends or opportunities for future optimization.
• Prepare reports and presentations for senior leadership on cost-saving initiatives, progress, and outcomes.

7. Team Leadership & Development
• Manage a global team of cost optimization professionals, providing guidance, mentorship, and career development.
• Foster a culture of collaboration, continuous improvement, and cost-conscious decision-making across the firm.
• Facilitate training and development programs for team members to ensure growth in both functional expertise and leadership capabilities.

Qualifications and Experience:

• Proven track record of successfully managing T&E programs, optimizing professional services costs, and enhancing vendor relationships in a global context.
• Strong expertise in financial cost-saving initiatives.
• Experience in managing cross-functional teams and leading change management initiatives at executive levels.
• Expertise in managing vendor relationships, negotiating contracts, and driving continuous improvement.
• Leadership Development: Experience in executive coaching and training senior leaders and partners to enhance leadership capabilities and align them with strategic goals.

Skills:

• Strong financial acumen and the ability to translate data into actionable insights.
• Exceptional leadership, communication, and stakeholder management skills.
• In-depth knowledge of procurement, financial reporting, and cost management best practices.
• Ability to manage complex global initiatives and navigate diverse business cultures and environments.

Personal Attributes:

• Strategic thinker with a focus on long-term impact.
• Proactive, results-oriented, and able to drive change in a fast-paced environment.
• Excellent problem-solving skills with the ability to manage competing priorities.
• High level of integrity and professionalism.
• Collaborative and able to influence stakeholders across all levels of the organization.

All offers and/or employment contracts are contingent upon the successful completion of the Firm’s pre-employment screening process. This process may include verifying the candidate’s identity, confirming legal authorization to work in the offered position's location, and conducting a comprehensive background check, where permitted by local regulations.