Evolving Role Of General Counsel

The pivotal duty of a GC here will be to understand the legal implications of GRC at both the strategic and operational levels and guide the organization in a way that helps achieve the greatest value from the GRC strategy.

- Subibechana Shaw

The in-house counsel revolution which saw its first developments brewing in the late 1970s envisioned a critical role for the General Counsel as a lawyer-statesperson, moving beyond the scope of the law, and including matters of ethics, risk, governance, and compliance. With the increasing scope and power, the General Counsel is now participating in decisions and actions that are not just about risks but also about opportunities, and not limited to the law but also about business.

Evolving beyond the traditional role of a chief legal officer that focused solely on litigation, transactions, cost reductions, legal outsourcing etc. the General Counsel has expanded its responsibility in corporate governance and compliance areas and now play a key role in shaping the significant governance, risk, and compliance (GRC) management policies. It also includes proactive legal risk management and preventive law, making the GC a critical pillar in an organization’s risk management strategy.

Being a part of the core management team, the GC now has to directly work with the board of directors in communicating the daily operations of the company’s compliance programs, while proactively advising on risks and ways to safeguard company profits by exhibiting those proper policies, procedures, and controls are in place to monitor violations. Thus, broadening the role of GC in helping drive risk assessments, policy management, internal investigations, and compliance management.