Risk Management for COLPs - Latest Trends & Insights

Introduction

Managing risk is critical within all law firms.

The Compliance Officer for Legal Practice (COLP) plays a crucial part in this process. They spearhead the firm’s approach to regulatory risk management, protect the firm’s reputation and often occupy a leadership role within the firm’s senior management team.

However, the COLP cannot operate successfully in isolation, given the SRA regime shares the burden of risk management with the firm’s partners, so it is essential that all parties are alive to the potential threats facing their firm.

This new virtual classroom seminar is designed to tackle all aspects of risk management. Consideration will be given to how risks can be identified, evaluated, and managed across the practice.

Presented by expert speaker Paul Bennett, this session will offer practical advice and guidance coupled with exercises and scenarios that will enable you to assess and control risks effectively.

The content of this session will reflect the latest trends and thinking on risk management.

What You Will Learn

This live and interactive session will cover the following:

• What is risk?
• Establishing the firm’s appetite for risk
• Identifying and measuring risks
• Creating a risk register
• Dealing with a range of risks - strategic and operational
• Impact of SRA requirements and Risk Outlook 2023/4
• What risks concern your professional indemnity insurer?
• Developing a risk management policy
• Addressing key risks in a compliance plan
• Managing risk as part of file/case management
• File reviews and supervision
• Formulating AML risk assessments
• Summary and questions

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.