It places a definite emphasis on a general counsels ability to predict risks, adding:
A number of GCs commented that predicting problems and risks before they arose was key to success. The role is moving from one of fire-fighting and reacting to events to being more strategic and proactively anticipating risks at an earlier stage. Our research showed that less than one third (29 percent) of GCs are currently focusing on this as one of their top three tasks, so there is a clear need for many to shift to this way of thinking.
Bryan Jones, a partner in KPMGs forensics practice, says senior management and board members want GCs to help them stay ahead of the curve not just react to issues when they arise.
Theyre looking for more than deal with my legal problems, says Jones. They want more than that -- and that makes the general counsel more relevant.
Jones calls this approach something of an early warning system for legal and regulatory challenges that could impact business strategy. Thats an important preventive role, he says.