With threats, including cyber-attacks and data breaches, on the rise, law firms have become increasingly aware of the strategic benefit of internal risk management. Risk management leaders share with ALB on what their firms’ priorities are when tackling potential pitfalls.
How important is the internal risk management function in your firm? What are the big-picture risks currently top of mind of your internal risk managers?
DENNIS FUNG, chief operating officer and chief financial officer, Simmons & Simmons (Asia): In the complex legal landscape we navigate a multitude of risks daily across our Asia offices.
- Conflict of interest: Transparency is key, with our policy mandating the prompt disclosure of any personal conflicts of interest, ensuring decisions prioritise clients.
- Confidentiality: Client confidentiality is paramount. Our strict guidelines protect sensitive information, disclosed only when mandated by law.
- Whistleblowing: A culture of openness prevails, with our whistleblowing policy empowering prompt reporting of unlawful conduct without fear of reprisal, fortifying our firm’s integrity.
- Anti-money laundering:…
