The Risk Intelligent General Counsel
Discard the compass and get a GPS
The legal and regulatory terrain has gotten rougher, yet the general counsel (GC) must not only keep up, but stay ahead. Trying to do so with the frameworks, thinking, and tools of the past can be frustrating. It is may be time to update, to move from giving your organization a sense of direction to providing more guidance and leadership in this area.
Deloitte’s white paper, The Risk Intelligent General Counsel, provides a fresh perspective on legal and regulatory risk governance and management. This Risk Intelligent perspective recognizes the need to view these risks across organizational silos and to understand their potential impact on the finances, reputation, and future of the business.
This perspective can enhance your ability to:
- Advise the board and management of the legal, regulatory, and ethical risks inherent in specific strategies, decisions, and initiatives
- Explain the difference between rewarded risks — which are worth taking in the pursuit of value — and unrewarded risks, which often involve needless exposures
- Prioritize legal and regulatory risks so that risk management, internal controls, IT, and legal resources are properly allocated
- Contribute to a culture in which people understand the ethical dimensions of their jobs and conduct themselves accordingly
While legal and regulatory risks represent only part of your responsibilities, failure to identify and address them can undermine or destroy your organization. Board members, senior executives, chief risk officers, and business-unit managers truly need the guidance and leadership that only a Risk Intelligent GC can provide.
The Risk Intelligent General Counsel can assist you in orienting your organization toward a new approach to legal, regulatory, and ethical risks. This starts with seeing where your organization is, where you want it to go, and how to get there.
To read more, download the complete article.
As used in this document, ‘Deloitte’ means Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, and Deloitte Tax LLP, which are separate subsidiaries of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.