The GC's role in risk management

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The GC's role in risk management

Published 10 July 2017

Recently, working with 'In House Lawyer', we conducted a survey on the role of the GC in managing risk across the organisation.

Some of the headlines emerging were; the importance of having strong relationships across the business to build up a true picture of the risks any business is exposed to, the requirement to identify emerging risks, the need for more formal risk management training, the role of the Data Protection Officer and the responsibilities of the legal department concerning GDPR. You can find the results in more detail through this link.

A follow up workshop indicated that further guidance on how GCs can be more pro-actively involved in risk management would be helpful and "In House Lawyer" will publish this material. In the meantime here are some of the top tips that emerged from the workshop.

  • Understand how management decisions are made and the day to day operations of the business
  • Your legal training and objectivity is invaluable. Make sure the business appreciates that your department can help join the dots across the business
  • Leave no stone unturned; raise the difficult issues and help other departmental heads get involved
  • Establish/understand the risk appetite of the business
  • Be a member of the Risk Committee
  • Make a friend of the Chief Risk Officer and Head of Insurance
  • Have risk champions across the business and amongst the non execs
  • Ensure you have great access to the Chair

 

Authors

Ben Daniels

Ben Daniels

Bristol

+44 (0)117 918 2018

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