Legal risk management

Course Overview

Many organizations have had their fingers burnt by the risks of failing to comply with regulatory requirements, by being unaware of their legal duty of care or by failing to put legal protections in place. What are the key legal risks facing your business? How do you identify and rate those risks? Who is responsible for mitigating them? Best practice guides always emphasise that an effective compliance programme needs the backing of senior management, but how do you move risk and regulation compliance onto the agenda of a risk-orientated board?

This course looks at what risks might be categorized as 'compliance and legal' and provides the delegates with case studies and ideas on how they might identify and assess the risks of the legal environment. We discuss who should be responsible for the different elements of managing legal risk and where it fits into a wider risk management programme.The course includes sessions from expert speakers on their experiences and on the approach from different regulatory authorities.

Audience

• General Counsel
• In-house Lawyers
• Risk Managers
• Compliance Managers

Skills Gained

Attending this course will allow you to get a detailed understanding of what is involved in managing risks from the legal environment. We also cover best practice on maintaining momentum for integrating risk management into the business process whilst providing the opportunity to network with others struggling to make sense of this area. In the current regulatory climate, this is a must for any in-house lawyer and in particular Heads of Legal who have responsibility for ensuring their organisation is taking informed risk decisions.

Defining and scoping legal risk

• What is 'legal risk' and does it go beyond regulatory compliance?
• Making best use of your law firm to draw on best practice
• A brain storming session with delegate involvement

Evaluating risks and setting the risk appetite

• Methodologies for assessing which are the largest risks facing the business
• Who determines how much risk should be taken - who says "no"

Clarifying responsibility for legal risk

When does a legal risk become a business risk and who should be responsible for the management of legal risk?

Getting a programme off the ground

• Who needs to start the process?
• How long does it take?
• What can go wrong?

Managing risk: a toolbox of controls

• Registers and audits
• Assessing the level of risk
• Control processes - internal codes of practice, processes and training
• Make your own set of rules - delegate breakout groups

Competition law: update on laws and trends in enforcement

Bribery and other crimes

Over the last few years, the UK Government has increasingly used the criminal law as a means of deterring undesirable business activity - from cartels to overseas bribery and money laundering to new Companies Act offences. When combined with a more liberal extradition regime, these new laws give rise to added areas of business risk.

Managing contract risk - ensuring appropriate terms are in place

• Setting the rules for what legal/procurement see
• Deciding on appropriate terms
• Establishing a contract database
• Training the business

Summary - setting your action list for the next month