Best Management of Risk

2007 WINNER

The team at DLA Piper

In the opinion of the judges this firm has demonstrated in its submission a highly effective approach to risk management. This is made all the more impressive as DLA Piper has executed a highly successful growth strategy, whilst maintaining a strong governance framework. This is no easy feat. The risks inherent in an accelerated growth programme are enormous and it is clear from the submission that DLA Piper has recognised this and devised and implemented an innovative and successful risk management strategy. This is based on a clear understanding of the need to support the risk management policy with a robust risk management structure and a consistently rolling programme of risk education. The outcome is this is the clear demonstration of a culture in which risk awareness is the norm and this is to be congratulated.

2ND PLACE

The judges were particularly impressed with Clifford Chance's concept of the Office of General Counsel, usually only associated with corporate organisations. The quality of the CV’s of those supporting the General Counsel function are very impressive and clearly demonstrate the firm’s investment in, and commitment to, the management of risk. To see acknowledgement of reputation risk sitting within the risk management function is refreshing. This is an area so often overlooked in firms’ risk management and risk recovery strategies. The judges would like to have seen evidence of the cascading of risk education and the extent to which risk awareness has become a part of the cultural norm.

3RD PLACE

The judges were impressed by the way in which Hammonds quantifies the real business gains from its risk management strategy. Clearly a great deal of effort has been spent on identifying the risk management objectives and how to evidence the achievement of the objectives through the audit process. The submission focused strongly on the processes that support risk management within the firm and the judges felt that from a compliance and regulatory perspective the firm is clearly ticking all the right boxes. It would have been interesting to see how the centralised risk management effort is helping to raise the awareness of risk and embed this within the firm’s culture.

2007 SPONSOR

Prime Professions is an independent insurance broker specialising in Professional Indemnity, Directors' and Officers' and Medical Malpractice Insurance. Our dedicated teams combine profession-specific knowledge with the ability to handle all aspects of our clients' requirements. Our understanding of many working environments gives us the necessary edge to deliver results.