In the last year alone, the amount of corporate data generated within companies has grown by 40 per cent. But that information avalanche can provide opportunities as well as challenges, in-housers at The Lawyer’s Managing Risk and Litigation conference in London last week were told.
Speakers told in-house lawyers and risk officers that they must keep on top of the data to effectively manage risk as their companies’ first line of defence. But that is only the tip of the iceberg for in-house risk and litigation lawyers who have to handle horizon scanning with ever-increasing pressure to cut costs.
During the one-day conference, The Lawyer editor Catrin Griffiths gave a keynote presentation on the trends in the business of litigation during the conference.
The findings gathered information from The Lawyer’s newly-launched Litigation Tracker, FTSE 100 report and Global Litigation Top 50 and showed which firms are most active, the biggest UK-headquartered companies instructing litigators, and the impact of the financial services enforcement on cross-border litigation.
Around 100 in-house litigators gathered to talk about managing risk in-house and horizon scanning, dispute resolution and arbitration trends, the role of compliance and legal teams and how to leverage technology to their advantage.
First State Investments general counsel Parisha Kanani chaired the conference, which boasted a speaker line-up that included Deutsche Bank unstructured data strategist Nina Bryant, Aon Risk Solutions vice-president and global chief counsel Sarah Walker, Pearson vice-president compliance and risk assurance Matt Kettel, Atradius general counsel Karl Foster, Zurich Insurance EMEA chief compliance officer Chris Davidson, and Barclays group financial crime legal vice-president Helen Ratcliffe.
Topics ranged from how in-house legal teams can shift from being reactive to proactive in their approach to risk transformation, when and where should companies arbitrate, and managing costs in long-running litigation.
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