Practice Manager- Asset Management

Pdclegal; New York (NY); On-site; USD 100,000 - 140,000; Full time

Job summary

A leading law firm is seeking a Practice Manager to oversee the Asset Management practice. The role involves managing business planning, staffing, attorney development, and financial operations, supporting a team of over 75 attorneys. Candidates should have 5+ years in a professional services environment with strong interpersonal, analytical, and project management skills.

Benefits

Comprehensive medical coverage

Retirement plans

Health and wellness initiatives

Qualifications

• 5+ years of experience at a professional services firm.
• Prior practice management or professional development experience preferred.

Responsibilities

• Manage the annual practice group business plan and strategic initiatives.
• Support staffing and attorney development initiatives.
• Oversee financial management of the practice group.

Skills

Interpersonal skills

Analytical skills

Project management

Leadership

Financial management

Job description

Fried Frank Harris Shriver Jacboson LLP New York, NY 10004
United States

At Fried Frank, we’re a community of 800 lawyers and 500 business services professionals across New York, Washington, DC, London, Frankfurt, and Brussels. We advise leading corporations, investment funds, and financial institutions on high-stakes M&A, securities, regulatory matters, real estate, and litigation. Our culture is grounded in our core values — excellence, integrity and collaboration — and is designed to foster continuous learning, meaningful mentorship, and lasting professional growth. We are firmly committed to pro bono service and social justice, building on a proud legacy in civil rights. Our inclusive talent strategy is a core part of our broader talent management efforts and we remain steadfast in fostering a workplace where everyone has the opportunity to grow, thrive, and become their best professional and personal selves. Our business services professionals are integral to the firm’s success, driving innovation, operational excellence and exceptional client service across all areas of the firm. We offer competitive compensation and a comprehensive benefits package, including comprehensive medical coverage, retirement plans and health and wellness initiatives designed to support your personal and professional wellbeing. We welcome passionate, driven individuals to join us, and be part of a team where you’ll be supported, inspired and empowered to build an exceptional career.

Position Summary:

The Practice Manager plays a key role in the management of the Firm’s leading global Asset Management practice, which includes 75+ attorneys 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 US offices. This is 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:

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.