A legal Advisor exact duties depend on what the company wants from her, but some responsibilities are common, including:
- Advise the executives and employees on changes to the laws affecting the company.
- Investigate if the company or a staff member does not comply with the law.
- Oversee lawsuits, possibly acting as chief litigator.
- Ensure the company fills out and submits all its legal paperwork.
- In addition to being top legal counsel, the CLO is also part of the corporation's management. Part of her duty as a manager is to increase the firm's profitability and shareholder value. That can create a conflict with her duty to call out illegal or noncompliant actions. If the CLO sides with management, she may not be able to fulfill her watchdog responsibilities; if she aggressively monitors the corporation's legal conduct, she may find herself isolated from other officers.
Added Responsibilities:
- To carry out his legal role, the CFO has to fulfill several subsidiary responsibilities:
- Know how to recruit, train, manage and retain legal talent.
- Manage the legal budget to get the most services for the least money.
- Be conscious of the needs of the company's owners.
- Stay informed about what's going on at the company.
- Understand the business and the industry.
- Stay proactive. Reacting after the company has broken the law costs more money and can ruin the firm's reputation.
- Becoming a CLO
- Auditing Organizational Compliance
Compliance Specialist Skills:
The Compliance Specialist is supposed to be adept at knowing, implementing and regulating companies so that they comply with the law. They must also be familiar with dealing with businesses, employees and managers in a tactful and professional way, especially if the Compliance Specialist is a hired freelance contractor instead of on retainer. Based on the job postings we looked at, the following are skills desired in a Compliance Specialist:
- Industry Expertise - Compliance Specialists must be authorities in the industries in which they work and often have a history of working in the industry in another capacity before becoming Compliance Specialists.
- Deep Knowledge of Regulations - To be able to enforce the rules, a Compliance Specialist must have a detailed knowledge of them. This involves staying up to date on any pertinent changes to regulations.
- Interview, Investigation and Auditing Skills - Successful Compliance Managers are analytical and detail oriented, as well as possessing strong interpersonal skills. They must be able to dig deep into company records, and be able to tactfully ask the right questions to employees and employers.
Desired Skills and Experience:
- Contract Management
- Service Contracts,Litigation,Compliance,Customer Contracts,Vendor Contracts
- 9-11 yrs
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