Risk Management roles for partnerships
As law firms have grown internationally, in a world where increased regulation is the norm, risk management has become an essential focus as firms struggle to manage 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.
With the introduction of OFR, risk management will become an even more important focal point in the coming year, as firms adapt to the proactive management of their own risk and a client-led focus 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 emphasis on delivering exceptional, competitive services 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 understand that there is no room for compromise. We have the expertise, experience and deep-level insight to find the right individual to lead your firm into the new era of legal practice. We work closely with our clients to thoroughly understand their unique firm culture, specific challenges, needs and specialisms - and interpret this into a finely honed specification we can take to market.
We know that nothing about this fiercely independent and highly individualised sector is generic; because of this we work just as intensively with our candidates, sourced from a broad variety of expertise and backgrounds to ensure that, when we recommend an individual to you, they are the right person for the role - not the first to tick the boxes or meet the quotas.
