Page 123 - MASTER COPY LEADERS BOOK 9editedJKK (24)_Neat
P. 123
Leaders in Legal Business
Figure 1
The most pressing issues keeping CLOs up at night now and in the year ahead include:
Most Pressing Concerns Past 12 Next 12
1. Ethics and compliance Months Months
2. Data breaches
3. Litigation 96 % 96 %
4. Transparency
5. Mergers and acquisitions 79 % 82 %
6. Intellectual property
7. Whistleblowers 79 % 79 %
8. Prosecutions and government enforcement
9. Disputes over ownership/use of information 79 % 78 %
73 % 76 %
64 % 62 %
62 % 62 %
58 % 60 %
56 % 59 %
According to the ACC CLO 2015 Survey, hiring practices mirror areas of need.5 When it comes to matters
of compliance, boards of directors see the general counsel as a great ally. Recent legislation has placed board
members under greater scrutiny, and directors now place higher value on the CLO’s counseling role and
responsibility to ensure a culture of compliance.
Following its place in the list of issues of importance, compliance was also the top area for hiring in
corporate law departments. This was especially true for law departments in Latin America (33 percent of CLOs
reported their departments created new positions in the compliance area) and Asia Pacific (30 percent).6
Overall, corporate law departments are focused on filling positions in the practice areas of compliance, contracts,
general legal advice, and privacy.
Figure 2
Over the past 12 months, has your law department created any new positions in the following practice
areas?”
Compliance 2013 2014 2015
28% 31% 18%
Contracts
Corporate and securities 32% 34% 15%
Discovery and eDiscovery 8% 9% 5%
Employment and labor 2% <1% 1%
Energy 9% 7% 4%
Environment and sustainability 2% 1% 1%
Financial services 2% 2% 1%
5% 2% 2%
5 See id. at 4.
6 Id.
116
Figure 1
The most pressing issues keeping CLOs up at night now and in the year ahead include:
Most Pressing Concerns Past 12 Next 12
1. Ethics and compliance Months Months
2. Data breaches
3. Litigation 96 % 96 %
4. Transparency
5. Mergers and acquisitions 79 % 82 %
6. Intellectual property
7. Whistleblowers 79 % 79 %
8. Prosecutions and government enforcement
9. Disputes over ownership/use of information 79 % 78 %
73 % 76 %
64 % 62 %
62 % 62 %
58 % 60 %
56 % 59 %
According to the ACC CLO 2015 Survey, hiring practices mirror areas of need.5 When it comes to matters
of compliance, boards of directors see the general counsel as a great ally. Recent legislation has placed board
members under greater scrutiny, and directors now place higher value on the CLO’s counseling role and
responsibility to ensure a culture of compliance.
Following its place in the list of issues of importance, compliance was also the top area for hiring in
corporate law departments. This was especially true for law departments in Latin America (33 percent of CLOs
reported their departments created new positions in the compliance area) and Asia Pacific (30 percent).6
Overall, corporate law departments are focused on filling positions in the practice areas of compliance, contracts,
general legal advice, and privacy.
Figure 2
Over the past 12 months, has your law department created any new positions in the following practice
areas?”
Compliance 2013 2014 2015
28% 31% 18%
Contracts
Corporate and securities 32% 34% 15%
Discovery and eDiscovery 8% 9% 5%
Employment and labor 2% <1% 1%
Energy 9% 7% 4%
Environment and sustainability 2% 1% 1%
Financial services 2% 2% 1%
5% 2% 2%
5 See id. at 4.
6 Id.
116
