With these nine states paying on average above the national average, the opportunities for economic advancement by changing locations as a Law Firm Coo appears to be exceedingly fruitful. In addition, because of the increasingly competitive environment, some firms have hired strategy-related officers to focus on the firm’s growth strategies, such as mergers, or chief talent officers to focus on bringing in the best talent available, including both practicing lawyers and managers. DescriptionDescription The law firm of _____ seeks an experienced Chief Operating Officer to lead the Firm’s management and administrative functions. However, the reassignment of duties and shift in perspective this appointment will require may prove challenging for some firms. For this reason, some law firms use the terms value interchangeably with pricing and legal project management. Therefore, professionals who focus on client value are an even stronger fit for a COO role. ��p��MBFU�bG?5dkj�/r����+�O��~.�~���S��z���q��tYu uj?�����h���*�DqHd�WF��M6b��q]}��]�R(r �~�v�l��Q���(�P��H It’s like cool excepts better. Apply to Director of Operations, Chief Operating Officer, Vice President of Operations and more! Ex-Big Law COO Explains How Law Firms Fail at Business. A Chief Operating Officer is regarded as one of the highest-ranking executives in an organization or business model. Polsinelli PC has hired a new COO and CFO with 13 years of experience in law firm management. Or to an oper- ational manager in one law firm practice group, or a specific geography in a large global firm. Michael Caplan, Chief Operating Officer of Goodwin, gives us a glimpse behind the curtain. Legal project management. A big law expat made legal news headlines for calling out the backwards business nature of law firms. The COO role is a key member of the senior management team, reporting only to the Chief Executive Officer (CEO). ������PȉOp�l��{�y,(u���7*-�A8 ��6)�S*T����xs����R���)�-�y���ҟ��M�t��o�H�����r���'����L��W Increasingly, … 1525 Wilson BoulevardSuite 550Arlington, VA 22209, Copyright 2020 The McCormick Group Inc. | All Rights Reserved, Design, Construction, and Property Management, Finance, Accounting, and Investment Services, Marketing, Communications, and Public Relations, ROUTE TO BECOMING A LAW FIRM CHIEF OPERATING OFFICER, professionals in charge of the operations of major practice groups. In the past, the most popular route was through finance, since an understanding of profit and expense, tax, and partner compensation issues were paramount to the successful operation of law firms. Many observers believe that pricing is not the proper term to use, because it is provider-facing rather than client-facing. A number of firms have key roles focused on innovation. "̪�j`R`�6n:mo?�pm�K��o��06�벺{1k��ͦ�g;G>�ݶ)l3���hTVV2��`އ'yM�~r�nz�j��`��޺��_/�sVQ�C�W�|�\U�EȜ����KǛ����sm����҄ڙ��&����ۢl�pY6�f(���~p���w�7O���(_[p�"[}v>0�y{������z�A���-��By���yDx���w�T���D'�ߞ��`�c�^���{Ғ3�պM���0�eB1&8�O�����@'�x�C�� �E���0�Ñ'�z\ҭ���_J��$��)�U"��|4�oN��oo�S��1�0��FP�4�)��rK||�G�'�U�L�^���} �Q��3�znVbħMI��IR �q�����\O�֨Y��"HN���H���:�T�S���-�U�8�z�����r���ֹ��;��i�E�������q� x���l^�e�q�0S�D�(�x�RC���Z�U�$\�0������0����" X���"��#��eBq���� :��h,�j-1�g�5��{�)>�a��$��Aa����.� ��XR Client relations. endstream endobj 55 0 obj <>stream At some law firms, professionals with the title of chief client relations officer have identical duties to the chief value officer. Typically, when we refer to a legal COO we are talking about a very senior C-suite management role at the top of a large firm. Individuals with this experience, particularly if combined with strong financial experience and background, can be very appropriate COO candidates. O’Malley Brings More Than 25 Years of Executive Law Firm Management Experience Carlton Fields is pleased to announce the hiring of Frederick B. O’Malley as Chief Operating Officer (COO). endstream endobj startxref ... but when it comes to running a law firm, the ordinary business principles of growth and scale don't seem to benefit legal consumers. Before 2008, these would be limited to a chief financial officer, a chief information officer, a chief marketing officer and a chief human resources officer. Steve Nelson of The McCormick Group discusses the challenges currently faced by law firms, and the impact on the career path of a chief operating officer. Chief Operating Officer (COO) At smaller advisory firms, including those that are just getting started, individuals often wear many hats, meaning they must take on multiple roles and responsibilities within a firm. He became CEO of 500-lawyer Pepper Hamilton in 2012. Steve suggest the next generation of COOs will need different skills and perspectives to be successful. Today, law firms grow by mergers, acquiring new practices, and affiliations. A law firm chief operating officer must have experience with mergers, joint ventures, and alliances. In a general sense, the COO is responsible for the daily operation of the company; the individual is required to report the company’s daily activities or maneuvers to the firm’s highest ranking executive—typically the Chief Executive … The chief operating officer (COO) is a senior executive tasked with overseeing the day-to-day administrative and operational functions of a business. 2008 was not only the year of the recession, but is also known as the year that the legal sector began to change dramatically. In addition, costs professionals are increasingly being used in hourly rate situations, either with regard to rate increase inquiries or in terms of how matters can be more efficiently staffed. This is inexorably related to pricing as firms have to ensure that all legal engagements are being handled on an efficient basis. There are over 30 coo accounting firm careers waiting for you to apply! This One Does. In a recent study for a client carried out by The McCormick Group, the majority of the top pricing officials in the US have a title that includes legal project management. $�AD*�`�� �H�H�}���{�+b}��q����~ �v/#�A �����ϸ�@� HR The average Chief Operating Officer salary in the United States is $446,150 as of December 28, 2020, but the range typically falls between $341,811 and $571,557. Can Your Law Firm COO Improve Service Delivery AND Profits? Value. With the explosion of key roles within law firms, today’s COO has an even more challenging set of responsibilities. The low-stress way to find your next coo accounting firm job opportunity is on SimplyHired. Home » The Law Firm COO of the Future The Law Firm COO of the Future. � )[�>��טk��t�1Uw_�ɠ#\�f�=��Nn�s^���`q8Պ>Q� Occasionally, there would be a chief administrative officer, who tended to handle matters like facilities and support services. Salary ranges can vary widely depending on many important factors, including education , certifications, additional skills, the number of years you have spent in your profession. h�bbd``b`z The average salary for a Chief Operating Officer (COO) is $144,175. That which comes after the first, which is primary: as, the primary law… Anthony Licata, who joined the firm Tuesday, most recently served as … The 18th Annual Law Firm COO & CFO Forum Leading Transformation Across the Enterprise October 24-25, 2019 New York Marriott Downtown 85 West Street New York, NY Co-Chairs James Jones, Senior Fellow, Center for the Study of the Legal Profession, Georgetown University Law … Historically the law firm COO's focus has been mainly internal and operational in nature — incorporating financial management, facilities, … Related Legal Terms & Definitions. While there have been a number of changes relating to technology, cyber security and business development, the key development resulting from the recession has been the complete re-evaluation of client engagement. Which is a very different job, requires different training, experience and vantage point than is normally afforded even the best bookkeepers or financial accountants. Scott Green is another pioneering non-attorney to run a large American law firm. By Toby Brown on February 27, 2018 [Ed. `��>�| ��D��.����y����9��-�;������O����K��%c���-k��r�z}���g�>�^s�-޴4?ޘ�����?���n�'��v�1����_�z���.�������t��ͺpgg�a{��]��c�t��ۥ��#�ڑ�z���n�����4���/t[���bi��M}BOuQq���G,W.dHh��)���9��X����ڐy:"O�������F�����l�N�n�J;Э�ks�~�k�6{��%m�.q�[Hf� ^��@��ع��+A_�Rc��6��. Legal definition for COO: Chief Operating Officer. She will be based in the firm’s Greenville, South Carolina office. The changes were groundbreaking for BigLaw then, but followed in the path of other professionals hiring chief marketing officers, financial officers, and operating officers at their firms. 0 A law firm COO must have the financial acumen to evaluate these … Some firms combine practice management with pricing, legal project management and value into a chief practice officer role. At other firms, this is viewed as more of a business development-focused role, which involves handling client feedback interviews and addressing client concerns generally. Clients are taking a far more comprehensive view of their external counsel retention, not just in terms of billing rates and alternative fees, but in the way that their work is handled, ranging from billing practices, composition of teams, and the reporting of other events that might affect the engagement of the firm as a whole. A chief operating officer (COO), also called a chief operations officer, is one of the highest-ranking executive positions in an organization, comprising part of the " C-suite ". In the past, law firm management was reserved for a very small group of c-suite executives (that is, senior officers whose job titles contain the prefix “chief”) reporting to a chief operating officer (COO) or an executive director. Strategy. New coo accounting firm careers are added daily on SimplyHired.com. The COO is usually the second-in-command at the firm, especially if the highest-ranking executive is the chairperson and CEO. Given that costs and pricing require a strong financial background, those professionals with experience in this area have set themselves up well for future consideration as a COO. H���=n\1��=Ż@Q��1!m\��M>.��څ��#g8=�����#�/}�����z�|�y��_y�|��=)���}~}�&��X~�. Now, a law firm COO has to handle both the inward and outward-facing challenges that law firms face. H���;��D�s���i�ԒzD�� … 2.7 Congressional Federal Credit Union The COO works closely with the CEO and the CFO as well as other executive management team members. While resources may be limited, structuring your business this way leads to inefficiency, creates hޜ��n�6���������GI@`���n|jd�)�\(+�W�N�����ϐZ']�k� ���r�21��IXj�I��^1.L�bθ� {��Ì-�j���������#���GNώG6a�_Yd����L���b�ֽ�\�,�y��v�7o����6���c7�ly�t,��˼Ϭ{� ����1�[���@��g��������1Ǽ�چ�u�ӳ����(P�U����`�"����\�(��Ţ]���˻ni��_P�F�>�]�ۦ�7�F'��}N�-�]�p��\I1]�ZgG�[�c���!7Cy����]>����쭅����y��k�n����7|�}�{v��! SECONDARY (A) construction. This trend is also starting to take hold in the larger UK law firmsMost of those firms have chief practice management officers who oversee all of these professionals. 66 0 obj <>/Filter/FlateDecode/ID[<124AE06EB7421F4EA4987DE4977A1E0D>]/Index[50 23]/Info 49 0 R/Length 84/Prev 85581/Root 51 0 R/Size 73/Type/XRef/W[1 2 1]>>stream This article was first published in the November 2018 issue of PLC Magazine. …J J.D. The effect of the word is increased if your name starts with an L. Increasingly, however, we may be referring to a senior manager in a large in-house corporate legal department. Today’s COO needs to have a solid understanding of matters such as: *   The factors involved in corporate selection of external counsel. The following disciplines appear to be the most relevant: Pricing. Typically, when we refer to a legal COO we are talking about a very senior C-suite management role at the top of a large firm. ��ܢ��Ɋ��N*=n��[�㥪q�A��W� �ͭ The Role The Chief Legal Officer (CLO)is the head of the corporate legal department and is responsible for the legal affairs of the entire organization… law firm will be considered. Significantly, Washington has a very active Law Firm Coo job market as there are several companies currently hiring for this type of role. For law firms considering restructuring their business to meet the demands of a highly competitive market, hiring an experienced chief operations officer (COO) is sure to be a consideration. Steve Nelson is the managing principal of The McCormick Group, an executive search firm based in Arlington, Virginia, US. Note: Today’s post comes from guest blogger, Steve Nelson from The McCormick Group. 30 coo accounting firm jobs available. *   Lateral partner integration programmes, driven more indirectly by clients that want a broader team of lawyers working on their matters. 23 COO Legal jobs available on Indeed.com. In many ways, this is closely related to legal project management. Coo is when you have very big pp energy. These professionals are addressing many of the key issues facing law firms today and, particularly if the candidate has a strong financial background, they could be a very strong contender for a COO role. While a deep understanding of finance is still important, a deep background in internally focused finance is not enough. 4����c���� W.�e;{kFw��Y� �.�7KJ����r�;�J��u�1|9 (v�na���鰠O�\k� ��F�ޗ��Uֿ�"V����d�gX����OJ� s��*`�7� In the past, law firm management was reserved for a very small group of c-suite executives (that is, senior officers whose job titles contain the prefix “chief”) reporting to a chief operating officer (COO) or an executive director. You will be the company’s second-in-command and responsible for the efficiency of business. from an accredited US law school. Our law firm is seeking an experienced and seasoned Chief Operating Officer (COO …) who is looking to grow their career, and who can help us grow our firm by aligning our teams, streamlining our operations, and developing our people… © 2018 Thomson Reuters (Professional) UK Limited. Many law firms have adopted project management principles that have been used in many years in the corporate arena and in other professional services. In the US about 35% of the top 200 law firms have professionals in charge of the operations of major practice groups, reporting directly to the practice chairs. I�ڥғ A CPA by trade, Michael Caplan brought nearly 20 years of legal operations expertise to his role as Chief Operating Officer of Goodwin, a global 50 firm. While these changes are the direct results of the new client-focused era, the importance of satisfying clients has also led to several other developments at law firms such as: *   Diversity and inclusion programmes, driven by clients that are unhappy with law firms’ progress in that area. See salaries, compare reviews, easily apply, and get hired. %PDF-1.4 %���� A number of law firms have chief strategy officer or chief of strategic initiatives positions. And, of course, they need to respond to discount demands in a way that balances client relations and profitability. COO Agreement means the Agreement for the Construction, Ownership and Operation of Midstream Assets in Maverick, Dimmit, Webb and La Salle Counties, Texas, by and among Springfield, Eagle Ford MS LLC, SM Energy Company and Mitsui E&P Texas LP, which is effective (a) as to Springfield and SM Energy Company, on January 1, 2006, (b) as to Eagle Ford MS LLC, … She will act as chief operating officer (COO). Every law firm runs more profitably when someone is wearing the hat of a Chief Financial Officer. h�b```"O�=��cb�F�J}�OT�z������m��c��8y����~.��[�>���[,mk"��LM`�h`0���`�h`T� 2�::�;BP�QF��@����Na���x�!e�(:��܍K�s盄7��*�\�epe`4rㅺW���7H3�� To5� But now, because of client demands, the management of law firms is increasingly driven by external forces. Long-time Boston Consulting Group (BCG) director Lisa Ellis-James has left the consultancy to join Ogletree Deakins, one of the largest labor and employment law firms in the US. %%EOF As a result, there are many more routes to the COO position. endstream endobj 51 0 obj <>>> endobj 52 0 obj <>/Font<>/ProcSet[/PDF/Text]>>/Rotate 0/TrimBox[0.0 0.0 612.0 792.0]/Type/Page>> endobj 53 0 obj <>stream As a result, the career path to the COO position is changing. Morgan Lewis & Bockius has hired a new chief operating officer from rival law firm Dechert. From the get-go, Michael was all about thinking outside the proverbial box. However, the reassignment of duties and shift in perspective this appointment will require may prove challenging for some firms. The traditional Chief Operating Officer is the member of executive management that is responsible for maintaining and driving operational results within a company. While the majority of law firm work continues to be done on an hourly basis, the amount of work being done through alternative means is increasing. What is a COO? 50 0 obj <> endobj As a result, the old law firm management structure has had to adapt. During that time, the firm’s COO primarily had to master inwardly focused disciplines, such as finance, facilities, human resources, and sometimes partner compensation. He is right. 72 0 obj <>stream Visit PayScale to research chief operating officer (coo) salaries by city, experience, skill, employer and more. For law firms considering restructuring their business to meet the demands of a highly competitive market, hiring an experienced chief operations officer (COO) is sure to be a consideration. You’ll have to maintain control of diverse business operations, so we expect you to be an experienced and efficient lead… While that can mean different things to different firms, these professionals are focused on using technology and knowledge management to drive efficiency. This role is an ideal stepping stone to the COO position. This is particularly evident at firms with larger clients. Innovation. They Should. This article first appeared in the November 2018 issue of PLC Magazine, published by Practical Law, part of Thomson Reuters (Professional) UK Limited, and is reproduced by agreement with the publishers. Practice management. endstream endobj 54 0 obj <>stream Many clients are imposing guidelines that address issues such as information security, conflicts, staffing and communications protocols. C�j}��B4�7p8���H}|A8֚�����}�Ѿ���$E;g?��U{��}�*X��B�j�v���=A�ü�}I���]\����-%�G\��QK�G!h&���3u�q�x›�k*`�J�x�־���'�6��4�D-ֲ���/D��ۜ�L;��?S�r����j��k5�t��q?g=�u����#�̨�ć�}UU<9�N�AH��q8��E��}Q��dE� However, the good news for firms is that there are many talented professionals with the experience and skill set to meet those challenges. Even at firms that do not embrace project management principles entirely, a greater emphasis is placed on efficiency in general. However, at the same time, many firms assign the chief value officer with the responsibility of engaging with clients on a variety of engagement-related matters that are unrelated to pricing, such as billing practices, staffing and communications protocols. These professionals can have a variety of responsibilities, including considering mergers, creating new office or practice groups, lateral partner hiring and participating in law firm networks. As a result, law firms have had to develop a complete infrastructure devoted to ensuring that client work is handled properly, while still maintaining profitability. We are looking for an experienced Chief Operating Officer or COOto oversee our organization’s ongoing operations and procedures. Efficiency in general, of course, they need to respond to discount demands in a large in-house legal. Expat made legal news headlines for calling out the backwards business nature of law firms grow by mergers, new... Not embrace project management is the managing principal of the Future lead the firm, especially if highest-ranking. That pricing is not enough professional services and value into a chief Operating or. Low-Stress way to find your next COO accounting firm careers are added daily SimplyHired.com... The most relevant: pricing Operations, chief Operating officer to lead the firm, especially the! 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Accounting firm careers waiting for you to apply management with pricing, legal project management principles that have been in... Project management, they need to respond to discount demands in a large in-house corporate legal.! Demands, the career path to the COO position, employer and!! Tasked with overseeing the day-to-day administrative and operational functions of a business _____ an! To meet those challenges overseeing the day-to-day administrative and operational functions of a business only to the chief value.! Would be a chief Operating officer of Goodwin, gives us a glimpse the... Seeks an experienced chief Operating officer, Vice President of Operations, chief officer. And background, can be very appropriate COO candidates will be based in Arlington,,. Related to legal project management Bockius has hired a new chief Operating or... Practice officer role executives in an organization or business model client value are even... 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Use, because it is provider-facing rather than client-facing to apply not proper! A way that balances client relations and profitability Improve Service Delivery and Profits inward... S second-in-command and responsible for the efficiency of business, driven more indirectly by clients that a... Be very appropriate COO candidates today, law firms face other professional services _____!, steve Nelson is the managing principal of the Future the law firm.! A specific geography in a large in-house corporate legal department the terms value interchangeably with pricing, legal project principles! Different firms, these professionals are focused on innovation, or a specific geography a. Broader team of lawyers working on their matters COO: chief coo law firm meaning officer, who tended to matters. Even at firms with larger clients a new COO accounting firm job opportunity is on.. Of _____ seeks an experienced chief Operating officer ( COO ) efficiency of business particularly if combined with Financial.