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The ‘C’ word!

The mere mention of the word Compliance tends to fill people with dread and many firms, Partners or owners continue to bury their heads in the sand.

Many firms have changed the structure of their business support, showing that there is a significant shift from the misconception of ‘fee burners’ and ‘fee earners’.

Firms have had no choice but to become proactive to ensure that compliance is embedded into the culture of the firm, with employees knowing and understanding the beliefs and values of the firm they are working for.

It is vital to invest in business support to drive the firm in the right direction.

And Compliance is an essential element of your firm’s foundation to succeed.  It is not about how many accreditations you have – although working within the guidelines of those accreditations obviously minimises the firm’s risk exposure.

Are you asking the right questions to know what is happening day to day in your firm?

Are all departments linking up to review your risk registers and ensure that you are working on the same page?  

A smoke and mirrors approach will not help you in the long run, it will purely paper over the cracks.

Engage with employees – communication is key!

Every time I undertake performance reviews the reviewee states that there is not enough communication.

That’s not to say that every little detail needs to be communicated, it is more to do with involving employees to help you achieve the objectives set by the firm.

Without communication, there is an opportunity for things to slip through the net.

To make this work you need a joined-up approach

Ground-level knowledge is the difference between tackling any issues head-on and burying your head in the sand. We can all hear conversations but really listen to what’s going on. Ignorance is not a form of defence if you find yourself on the wrong side of the regulators!

Are you continually reviewing your processes and analysing critical data?

Will you as a firm, you as an individual and your employees stand up to scrutiny?

Conduct a full 360 review of your business

If you do not look at what you are doing objectively then nothing will change. Praise the good, review the not so good and put a system in place to change what’s not working.

Revisit KPI’s

On an individual, team, discipline, and overall basis. It’s all well and good giving your fee earners targets, but are they are achievable and are you ensuring they can do this in a safe environment?

What do your KPI’s look like?

Have they been implemented and reviewed to ensure they are the right ones?

Are you conducting independent file audits?

It may be that there are trends which give rise to training issues. There are many signs that could highlight that you have issues with employees, or equally that you have individuals excelling that have further capacity or partnership potential.

There is a fine line between micro-managing and no supervision

You are ultimately responsible for every employee within your firm.

How many times have we recently seen in the Law Society Gazette about lack of supervision?  It does not matter whether you are a year qualified, or 12 years qualified there still needs to be an element of supervision. Do you want to be responsible for everyone losing their job?

Every role within your firm needs to work within the framework and once everyone is working within that framework the benefits will speak for themselves.

If we can assist with anything, please don’t hesitate to get in touch.
Team Teal


in touch

If you would like to find out more about how Teal Compliance and our expert Associates can help with your compliance requirements, we would love to hear from you. Send us your enquiry and we’ll be in touch.

​Feel Safe, Call Teal 0333 987 4320

Amy is my go to expert for both practical advice/help and firm
wide training in both AML and all aspects of compliance. Totally
dedicated, scarily knowledgeable yet always a joy to deal with.

Cyril Arridge, Managing Partner, Quality Solicitors Parkinson Wright