RISK MANAGEMENT

What we can do for you...

The UK legal sector is amongst the most highly regulated sectors. 

The ramifications of poor risk controls can lead to complaints, reputational damage, regulatory fines and the loss of client money.

 

A solid risk-based approach backed by robust policies, processes and procedures encourages a culture of quality which benefits clients and employees of the firm.  Tight controls reduce complaints and leads to an improved insurance risk profile for PII insurers consideration.

Whether the objective is to obtain Lexcel accreditation or simply improve the risk profile of the business, our consultants are trained and accredited by the Law Society of England & Wales and will support the development of a risk-based approach, using the Lexcel Standard as a basis for consistency.

 

Our review covers 7 key areas of a legal practice:

  • Structure and strategy

  • Financial Management

  • Information Management

  • People Management

  • Risk Management

  • Client Care

  • File and case Management

Operational Risk Consultancy - we help you manage the business risks leaving you to spend time with clients

Succession is a key issue for law firms.  We know prospective investors or merger opportunities are more likely to go ahead with businesses that have robust risk processes that deal with the 'business of law'. 

 

GEMSTONE LEGAL will help your firm develop a sustained approach to continuous improvement:

  • Full end to end review on the legal practice

  • Guidance on policies and procedures

  • Independent file reviews

  • Lexcel assessment preparation

  • Pre-purchase due diligence audit

"We help law firms to meet the operational requirements within the Lexcel Practice Management Standard.  As consultants and assessors we are thought leaders, helping a growing number of law firms to develop new ways of working geared towards managing operational risk and improving efficiencies."

Paul McCluskey, Managing Director

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