Risk Management roles for partnerships
With the growth of stringent regulation in the legal sector, teamed with the need for an increasingly international presence, risk management has become an essential focus in order to deal with the complex task of cross-jurisdictional compliance while also operating within the regulations of their parent country. As this advanced risk-culture has been developed in forward thinking firms, risk-management responsibility has often been drawn away from fee-earners towards dedicated centralised risk teams. For the right individuals, this is an up-and-coming area of opportunity.
With the introduction of OFR, 2012 will be a defining area for risk management, as firms will need to adapt to proactively managing their own risk without the restriction of prescriptive regulation. While the mandatory appointment of a practicing lawyer to the post of Compliance Officer of Legal Practice will assume much of the responsibility for this, more specialised risk management teams - anti-money laundering, auditing, junior risk & compliance roles - will also help firms to manage the new flexibility OFR introduces. Progressive firms are shifting their focus from risk & compliance to quality & assurance, with cultural focus on delivering exceptional, competitive service to clients. The individuals required to drive through this new culture of managed risk will be experienced and strategic managers; both diplomat and arbitrator, able to really build this newly proactive culture of risk management through the structure of the firm.
At Totum, we know that there’s more to excellence than just ticking the boxes. In the legal sector more than any other, candidate placement is about match-making - matching the right expertise, personality and aspirations with the right role, in the right firm. We work closely with our candidates and our clients to ensure that when we recommend a role to you, it’s exactly right. No compromises.
