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Tone at the top: How partners should manage risks in law firms

Partners are failing to take responsibility for risk management in law firms, a Managing Partner survey has found. Manju Manglani reports.

19 June 2014

Partners need to take greater responsibility for risk management to better protect their firms. That’s the overwhelming view of respondents to Managing Partner’s inaugural risk management survey.

“Too many partners see risk management as something which is a responsibility of others,” commented the general counsel at one international law firm.

Added the risk director at a local UK firm: “All partners have a part to play in supporting the risk director with the implementation and continual development of the risk management programme.”

A key issue is failure by partners to prioritise firmwide risk management over client work. “They are getting better at managing client risk...

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