Guardian: In Guardian mode, you need to lead the company`s legal and regulatory affairs, manage complexity while minimizing risk. This is the core responsibility of the role of Chief Legal Officer and the in-house legal team. When looking for a general counsel, most directors and officers are looking for someone with key attributes: If there isn`t already a strong legal operations leader, finding one should be a top priority. If we checked a year after an OCOL took over a legal department, the biggest regret is that we didn`t make talent decisions sooner – putting the right people in the right role, realigning the team, or separating people who are difficult or whose skills don`t match the department`s needs. The majority of businesses do not have a solid lawyer succession plan. Many legal departments work with small budgets, so it can be difficult to select a candidate to succeed. It is also difficult to determine a successor to a general counsel when corporate counsel are all working on day-to-day operational needs and are rarely concerned with overall risks and governance issues. My first thought is that the criteria for this type of title may vary from company to company, depending on the nature of your business, the size and level of experience among the legal staff, etc. For example, in my legal department, we have several lawyers who perform similar tasks but have different years of experience. The most experienced lawyers have the title of senior lawyer. He is not bound by supervisory functions because those opportunities do not exist because of the structure of our department, because they all report to a Deputy General Counsel. In larger staff, however, they could certainly do it. 10 While it is helpful to reflect on your role in this context, in the daily life of OCOL the delineation of tasks is not always so clearly segmented.

Often, the top priorities of an OCOL include two or more faces. Here are the five most common priorities that legal leaders identify for themselves: Strategist: As a strategist, you are able to communicate a clear legal strategy to your business partners that supports and enables the business strategy. In this role as General Counsel, you will provide the senior management team with legal advice to achieve their growth objectives. Our average fill time is only 38 days, compared to an industry average of 100 days. By hiring us as your legal executive search agency, you get the best talent for all your essential legal positions. We have experience in executive search across a wide range of industries and have no problem finding the right candidate for your business. Second, an OCOL and GC can be a way for a company to find an external successor to the head of the legal function. For example, let`s say a company has 10 lawyers and the current GC is in its early sixties and has announced that it is only a year or two away from retirement.

The company may decide that hiring an Assistant General Counsel does not attract the talent it needs for a position that will almost certainly be a GC position in less than 24 months. But the current GC doesn`t want to leave right away, and none of the other lawyers is even willing to take the helm. As a result, the company conducts an external search for the GC successor, gives that person the GC designation, but reports to the former GC/now Chief Legal Officer for only 12-24 months. In this scenario, despite the fact that it is unpleasant, everyone is satisfied, and the arrangement succeeds for a limited time. The responsibilities of the Advocate General include ensuring compliance with all relevant laws, rules, regulations and codes of conduct. You should monitor potential risks to the company`s reputation or finances and help mitigate those risks by implementing appropriate controls. When hiring a general counsel, you want to make sure you choose someone who not only understands the legal aspects of your business, but can also handle the more strategic aspects of running a business. With that in mind, here are some key features you should look for in a CLO. In-house legal counsel are invaluable to a business. They understand the specifics of your business, which allows them to better understand the risks and potential threats to your business.

High-level positions responsible for your company`s legal affairs are all the more important because they oversee the company`s entire legal team. I wonder if there is a group consensus on the designation of „chief legal officer“ as opposed to „general counsel.“ I generally understand that CLO is the most modern term and cements the C-continuation meaning of the position. Are there any other considerations to consider? I would add a little bit of historical context. The term CLO may have existed earlier, but it became much more relevant (and controversial) after the passage of Sarbanes-Oxley (July 2002), at least among public company lawyers. As you may recall, SOX added a Section 307 reporting requirement to the professional liability of lawyers. Legislative drafters have used this term as descriptive terms in other federal statutes and regulations to assign liability and potential liability for securities to lawyers practicing before the SEC. OCOL must have a solid understanding of the law and its impact on business decisions. They need to understand how to translate business goals into actionable legal strategies. This understanding requires extensive experience in legal and commercial matters.

There are many differences between a Chief Legal Officer and a General Counsel when it comes to their professional responsibilities. The GoC also contributes to the drafting of contracts and the review of commercial transaction documents. In addition, they may be responsible for preparing reports related to litigation or other legal matters. It is rare for an OCOL to struggle to play the roles of catalyst and strategist because the role of Chief Legal Counsel is not given the appropriate platform or authority. In the rare cases where this happens, it may be wise to think of an exit plan. A good candidate for the position of General Counsel has the right mix of legal acumen, business knowledge and strategic know-how. A combination of these three skills makes him a strong candidate who succeeds in the expected role and contributes to the overall growth of the company. Successful investments include Chief Legal Affairs and General Counsel across the country, as well as senior management positions – CEOs, COOs, CHOs, CFOs, CMOs, Vice Presidents, Sales and Marketing and other executive positions at the director level. GC`s role is to provide legal advice that helps the company achieve its business objectives.

It may sound simple, but it`s quite complex. A better understanding of internal and external business transactions allows the GC to weigh the various operational implications and make a decision that benefits the business. In-house counsel with a solid understanding of enterprise risk management as well as a solid understanding of the business and industry can regularly add much more value to business strategy. Legal counsel are currently expected to take on more responsibility in their organizations than ever before. In the past, their main job was to protect the company from legal and ethical violations, but the role is now much more than that. Want to explore in-house legal options such as General Counsel or Chief Counsel? Contact us Recruiting talented lawyers at the executive level is a big step for your business, so make sure you get it right. Hire a team of experienced and knowledgeable executive recruiters to manage your legal recruitment. OCOL balances the legal aspects of the business while monitoring the impacts and risks associated with new business steps. An OCOL recognizes the legal risk of new businesses, but can also place that decision in the broader context of the business. Because an OCOL understands the overall business goals and mission of the business, an OCOL can look at the legal aspects of a business decision through the lens of running a successful business. The terms „General Counsel“ and „Chief Legal Officer“ are often used interchangeably. However, there are important differences between these positions, including their specific priorities.

These differences, described in more detail below, should be considered when hiring a lawyer for your business: Similarly, the priority of „legal talent management“ may appear as a simple priority of the operator. However, if the company has recently acquired talent through a merger, or if there is a significant strategic shift for the company or an evolution towards a more technology-driven legal department, talent management could be a strategic priority. It may even be a catalyst priority, for example if the talent plan is to help influence the global risk profile. All four faces exist simultaneously, and OCL`s ability to navigate each of them should be fluid.