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Law firm partners: Stop absolving yourselves of responsibility for risk management

By Louise Fleming, Partner, Aretai Consulting

21 August 2015

Calling all leaders of UK law firms with corporate or commercial clients. Did you read the risk management survey results in the July/August edition of Managing Partner? Were you shocked? Have you taken action?

Three things worried me about the survey responses. There is an apparent lack of:

  1. ownership by partners of risk management;

  2. clarity about the role of the risk management function; and

  3. insight into the major risks facedby the firm.

1. Ownership of risk

Seventy-one per cent of respondents admitted that partners need to take more responsibility for risk management. Fact: if you are partner in a law firm, risk management is a fundamental part of y...

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