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Cheryl Sweeney, Head of Legal & Product Development, CNA Europe, a speaker at the European Corporate Counsel Summit 2014
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CNA EuropeCNA EuropeCNA EuropeCNA Europe
Key Metrics to Demonstrate Value and
Cheryl SweeneyHead of Legal & Product
Development
1
Demonstrate Value and Performance
CNA EuropeCNA EuropeCNA EuropeCNA Europe
General characteristics of lawyersGeneral characteristics of lawyersGeneral characteristics of lawyersGeneral characteristics of lawyers
• Objective
• Expert
• Committed
• Intuitive
• Comprehensive
• Accurate
2
• Committed
• Ethical
• Curious
• Rigorous
• Confidential
• Accurate
• Diplomatic
• Credible
• Balanced
• Analytical
CNA EuropeCNA EuropeCNA EuropeCNA Europe
General perceptions of lawyersGeneral perceptions of lawyersGeneral perceptions of lawyersGeneral perceptions of lawyers
• Narrow-minded
• Fastidious
• Technical
• Risk Averse
• Literal
• Expensive
3
• Technical
• Dogmatic
• Indecisive
• Slow
• Academic
• Expensive
• Boring
• Impersonal
• Unresponsive
• Argumentative
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Qualities that clients want in their lawyersQualities that clients want in their lawyersQualities that clients want in their lawyersQualities that clients want in their lawyerssource: London Evening Standard October 2014source: London Evening Standard October 2014source: London Evening Standard October 2014source: London Evening Standard October 2014
4
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Globalisation and a shrinking worldGlobalisation and a shrinking worldGlobalisation and a shrinking worldGlobalisation and a shrinking world
• Economic pressures have accelerated globalisation
• Emerging markets
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• Emerging markets
• New business products or markets
• Cross-jurisdictional expertise
• Innovation and cross fertilisation
• New risks and opportunities from technology
CNA EuropeCNA EuropeCNA EuropeCNA Europe
How businesses are respondingHow businesses are respondingHow businesses are respondingHow businesses are responding
80
90
100
UK
Europe
Asia
6
0
10
20
30
40
50
60
70
Reducing the # of
advisers
Changing advisers Demanding more
standardisation
Taking more w ork in-
house
Risk-sharing more
w ith advisers
Asia
USA
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Evolution of the inEvolution of the inEvolution of the inEvolution of the in----house lawyerhouse lawyerhouse lawyerhouse lawyer
Economic pressures = opportunities:Economic pressures = opportunities:Economic pressures = opportunities:Economic pressures = opportunities:
• Enhanced profile for General Counsel in compliance and risk
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• Enhanced profile for General Counsel in compliance and risk
• Broader remit for in-house counsel, more work in house
• Increased in-house expertise, less reliance on external advisors
• Need for efficiency and use of technology
• Greater need for “trusted advisor”
• Personal relationships are key
CNA EuropeCNA EuropeCNA EuropeCNA Europe
How has your role changed?How has your role changed?How has your role changed?How has your role changed?
• Proactive or reactive?
• Integral asset to the business or a necessary drain on
resources?
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resources?
• Key role in Compliance and Corporate Governance?
• Global co-ordination – providing the link between
jurisdictions and ensuring business continuity
• Innovation
CNA EuropeCNA EuropeCNA EuropeCNA Europe
InInInIn----house value proposition:house value proposition:house value proposition:house value proposition:
Deliver relevant, commercial solutions
Relevant = your business and the competitive
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Relevant = your business and the competitive
environment
Commercial = proportionate, timely, understandable,
achievable, and affordable
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Understand your businessUnderstand your businessUnderstand your businessUnderstand your business
• Understand mission, values and culture
• Spend time at the sharp end – “shadow” a team / technical training
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• Spend time at the sharp end – “shadow” a team / technical training
• Assume responsibility for additional functions
• Volunteer for cross-functional team projects
• Network in the industry
• Attend company wide training and conferences
• Participate in new projects / R&D / product launches
• Research your competitors – “Google Alerts”, newspapers
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Align with corporate goalsAlign with corporate goalsAlign with corporate goalsAlign with corporate goals
• Support business plan objectives directly with your team’s
objectives, team structure, skills / experience
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objectives, team structure, skills / experience
• Clear objectives and roles for legal team members
• Effective prioritisation
• Optimise external resource
• Professional and approachable
• Build trust
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Provide commercial solutionsProvide commercial solutionsProvide commercial solutionsProvide commercial solutions
• Explain how, not why not
• Assist in implementation
• Apply judgement not just analysis
• Don’t lose sight of commercial objective
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• Don’t lose sight of commercial objective
• Assume responsibility and take measured risks
• Keep colleagues informed
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Excel in effective communicationExcel in effective communicationExcel in effective communicationExcel in effective communication
• Clear, simple, to the point
• Body language and group dynamics
• Timely
13
• Visible and accessible
• Effective listening
• Reflect your organisation’s culture and tone
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Develop a legal team profileDevelop a legal team profileDevelop a legal team profileDevelop a legal team profile
• Company newsletter / intranet
•“Lunch and Learn” informal training sessions
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•“Lunch and Learn” informal training sessions
• External publications / conferences
• Trade associations
• Corporately sponsored charitable events
• Technical / subject matter expertise
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Demonstrate your valueDemonstrate your valueDemonstrate your valueDemonstrate your value
• Seize the initiative
• Devise meaningful KPIs and benchmarks
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• Devise meaningful KPIs and benchmarks
• Alignment with corporate objectives
• Optimise effectiveness
• Improve prioritisation
• Better resource allocation
• Greater transparency
CNA EuropeCNA EuropeCNA EuropeCNA Europe
KPI’s: ExamplesKPI’s: ExamplesKPI’s: ExamplesKPI’s: Examples
How many ?
Time to settle ?Litigation Disputes
Number ?
Category of claim ?Employment Claims
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Time to settle ?
Financial cost ?
Management involvement ?
Settlement cost ?
Business impact ?
Trend analysis ?
Disputes Category of claim ?
Source ?
Time to manage ?
Cost ?
Outcome ?
Comparative performance ?
Lessons to be learned ?
Trend analysis ?
nt Claims
CNA EuropeCNA EuropeCNA EuropeCNA Europe
KPI’s: examplesKPI’s: examplesKPI’s: examplesKPI’s: examples
Size of portfolio ?Intellectual
# prosecutions ?
17
Size of portfolio ?
Time to register ?
Financial cost ?
Relevant jurisdictions ?
Defences?
Infringements ?
Longevity ?
Intellectual property
# prosecutions ?
# warnings ?
Fine ?
Peer comparisons ?
PR damage ?
Reputational risk ?
Regulatory
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Qualitative measures of successQualitative measures of successQualitative measures of successQualitative measures of success
• Early involvement of the legal team
– Board sub committees / Co Sec
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– Board sub committees / Co Sec
– Monthly or quarterly checks with key customers
• Quality of internal relationships and feedback
– Surveys
• Quality of relationships with regulators
• Training delivered
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Personal developmentPersonal developmentPersonal developmentPersonal development
• Realistic self assessment
• Devise short, medium and long term goals
19
• Devise short, medium and long term goals
• Take credit
• Be flexible
• Constantly rebuild support and information networks
• Periodically review
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Thank you!
20
20 Fenchurch Street
London
EC3M 8BY