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Risk and compliance in law firms is a booming career path and attracts many LLB and LPC graduates who may traditionally be looking at training contracts or paralegal roles. Here are a few reasons why:
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The Risk and Compliance function in a law firm has a wide range of responsibilities. Primarily it exists in order to mitigate and protect against risks and maintain compliance with relevant regulations and legislation - but what does that mean in practice? Different law firms organise their risk and compliance functions in different ways - in this article we talk about 4 of the main types of risk and compliance issues with which firms are concerned.
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Nearly every role that we work on is briefed on an urgent basis and we understand the pressure vacancies can put on teams, especially in Business Acceptance functions. However we never think this should trump the aim to hire the best person for the job. The risks have to be carefully weighed up. In the long-term hiring the wrong person for the role is likely to do more damage than the short term impact of leaving a role vacant for longer. Remember, the Hare might have got out of the blocks more quickly, but it was the Tortoise that won the race.
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Whilst for some the idea of swapping rainy England for the sunny beaches of Australia or the lively streets of Hong Kong may be a no-brainer, we consistently hear from law firms that they struggle to get interest from their own risk and compliance professionals for these sorts of opportunities - here are a few reasons why opportunities overseas might be worth serious consideration:
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Every file contains metadata, and metadata like author properties and embedded objects have the potential to include personally identifiable information. Global regulations like the GDPR require businesses to keep personal information safe from leaks.
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With a client-centric commitment to excellence in mind, Saul Ewing LLP merged with Arnstein & Lehr LLP in September of 2017, providing their clients with expanded capabilities and greater depth in key practice areas.
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To comply with the GDPR’s tough new data requirements, Seddon’s knew it must find a solution to two major security issues
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In 2016 ByrneWallace became the first large firm in Ireland to have ISO 27001 certification. Firms with ISO 27001 certification must have a totally comprehensive system of security measures that extend beyond just IT.
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By consolidating its technology vendors, ByrneWallace was able to streamline the user experience and make major improvements to solutions depended upon by staff every single day. ByrneWallace improved its redaction workflows, document comparison speed and accuracy, and data protection, so it is more easily able to meet the requirements for ISO 27001 and GDPR compliance.
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When, in early 2019, news broke that Paul Manafort’s lawyers had not properly redacted sensitive information from court filings – revealing that he had conceded discussing a Ukraine peace plan – the derision was widespread. They were seen as typical of anyone connected to the current administration: so incompetent they couldn’t even black out a few words in a document.
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Ten10 implemented an Automation Accelerator package, encompassing strategic guidance, tool evaluation and proof of concept with the working automation framework as a product of the exercise.
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As a regulated CMC, LFS understand the importance of risk and compliance management, as well as maintaining robust processes that adhere to the changing requirements.
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Following a merger in 2013, Harrison Clark Rickerbys were faced with the challenges of finding a way to connect the compliance processes of different offices into one centralised and consistent approach.
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LLM Law is a small firm that primarily deals with criminal cases & appointed representation. They had a server running Windows Small Business server. As a small firm the client wanted the most complete cloud possible but at a small firm price point.
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SeeUnity's Echo Content Synchronization enables secure integration of firm's best-in-class technologies.
