Wednesday, March 27, 6:00 – 8:15
Why Every Lawyer Should Understand
the Basic Concepts of Enterprise Risk Management (Erm) – 2013The FCBA Professional
Responsibility Committee will hold a CLE on Wednesday, March 27, 2013
from 6:00 – 8:15 p.m. on
Why Every Lawyer Should Understand the Basic Concepts of Enterprise
Risk Management (Erm) – 2012. This
program will be held at Bingham McCutchen LLP, 2020 K Street, NW.Law
firms face a panoply of risks in today's environment, and for that reason they
should be proactive in mitigating those risks to safeguard their long term
success and survival. This program is intended to give firms an overview
of Enterprise Risk Management, so that they can begin to develop their own
framework to identify and proactively address risks (including the Federal Communications
ability to censure, suspend or disbar attorneys for a variety of offences) and
opportunities across their entire firm. Ultimately, you should also be able to
come away from the session with ways to make the firm eligible for favorable
pricing and coverage of malpractice insurance.Eileen Garczynski is a
Vice President at Ames & Gough and an expert on lawyers’ professional
liability issues and the risk and insurance needs of law firms around the
country. Dennis Quinn, a
Member of Carr Maloney P.C., concentrates his practice on professional
liability and commercial litigation. He
has successfully represented hundreds of clients in legal and accounting
malpractice actions and ethical complaints, and has tried cases in most of the
state and federal courts in the District of Columbia, Virginia and Maryland. He frequently speaks to bar associations and
professional groups on how to avoid legal malpractice claims and bar
complaints.Registrations and cancellations are due by 12:00 Noon, Tuesday, March 26, 2013.AGENDA6:00 – 6:05 p.m. Welcome
and Introductions6:05 – 7:05 p.m.
I. U.S. Law Firm Risk Environment
Overview of 2012 A&G Legal Malpractice
overview of some recent concerns facing law firms around the country
Facing Law Firms (from conflicts to cyber security)
II. WHAT IS ENTERPRISE RISK MANAGEMENT?
Law Firm Risks
the Likelihood and Magnitude of Those Risks
a Firm-Wide Response/RM Plan
and Remediating the RM Plan
III. IDENTIFYING LAW FIRM RISKS
Practice Management (Ethics) - Professional Responsibilities including:
o Conflicts/Atty Client Relationship
o Managing the Engagement, Non-Engagement and
Disengagement --Limiting the Scope of Engagement
o Litigation support
o Professional Development Risks
o Lateral Issues
o Rogue lawyers
o Bad clients
Financial Health - Transparency and Disclosure; Internal Controls; Anti-Money Laundering;
Credits; Firm Investments; Portfolio Risks; Audits; Bankruptcy or acquisition
of significant clients; Pressure on Fees, etc.
Strategic Concerns - Reputational, Marketing, Markets, etc.
Firm Governance - Firm processes; customs, policies, committees, management structure, etc.
IT/Cyber - Confidentiality, Data Security & Ethical Screens, Data Recovery,
Issues with Third Party Suppliers and Outsourcing
Operational - Employment (Talent – Lateral and New Hires), Fraud, Damage to Assets,
Environmental - Natural Disasters, etc.
7:05 – 7:15 p.m. Break
7:15 – 8:00 p.m.
IV. ASSESSING THE LIKELIHOOD OF RISKS
What are the Key Risk Indicators - (a measurement tool to indicate
to potential presence, level or trend of risks) firms can use to help identify the risks
identified in Section III.
V. DEVELOPING A FIRM-WIDE RISK MANAGEMENT PLAN
VI. MONITORING THE RISK MANAGEMENT PLAN
VII. BENEFITS OF
8:00 – 8:15 p.m. Questions and Answers