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Records Managers within Law Firms have a tough job, providing and enforcing policies, building out defensible procedures and overseeing an information lifecycle program. Over the years process has changed, regulations have been tightened and expectations have heightened. In this presentation, understand how Information Governance (IG) is playing a major role in the evolution of Records Management within Law Firms. Information Governance is a term being thrown around and many (or at least those brave enough to admit it) are unsure of what it really means. IG relies on automation, systems, tools and compliance to succeed. With records managers focus on risk avoidance, join us to better understand the new expectations of records managers to protect your firm as well as steps to implementing an IG Program.
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Evolution of Records Management in Law Firms
Thought Leadership Webinar Series
Objectives
• Understand how RM has changed
• Define IG and it’s impact on law firms
• Implement an IG Program that actually works
Why is RM Important
What Matters
• ACCESS - Lawyer and Staff productivity and Client Service
• SECURITY - Protect client and firm data
• COMPLIANCE - Adhere to Ethical & Legal Requirements
• COST - Operational cost pressures throughout the industry
The Good Old Days
What has Changed
What has Changed
• Increased Lawyer Mobility
• Records Management is Outsourced
• Volume of Data
• Dispersion of Data - offices, devices, repositories, formats
What is Information Governance?
IG is…
• An enterprise-wide approach to the management and protection of a law firm’s client and business information assets.
• An effective program enables lawyers to meet their professional responsibilities regarding client information, recognizes an expanding set of regulatory and privacy requirements that apply to firm and client information, and relies upon a culture of participation and collaboration within the entire firm.
IG is…
The specification of decision rights and an accountability framework to encourage desirable behavior in the valuation, creation, storage, use, archival and deletion of information. It includes the processes, roles, standards and metrics that ensure the effective and efficient us of information in enabling an organization to achieve its goals.
IG is…
A strategic framework composed of standards, processes, roles, and metrics that hold organizations and individuals accountable to create, organize, secure, maintain, use, and dispose of information in ways that align with and contribute to the organization’s goals.
IG is…
IG = Opportunity
Why Now?
Over 60% of respondents indicated that eligible ESI is not regularly deleted
Only 5% of respondents reported automated disposition processes for all their collaboration tools (e.g. project sites, SharePoint), while 62% had no automation or did not know
Less than 10% of respondents considered management of “new media and locations” (e.g. cloud services, mobility, social channels) at their organization mature
Only 8% of respondents report that records management metrics at their organization are mature
Only 12% indicated that records management planning is integrated with application decommissioning
Why Now?
In December, 40M Credit Cards were hacked
Invested $100M into chip-enabled card technology, implemented in 2015
Has $100M insurance coverage but potential loss may exceed $1B
Investors need to keep close eye on data breach investigation before investing
Why Now?
71% have no idea of the content in their stored data
58% are keeping information indefinitely
79% spend too much time and effort manually searching and disposing of information
58% still rely on employees to decide how to apply corporate policy
Implement an IG Program that REALLY
Works
Easy as A - B - C
A
•Assess Current State
B
•Build Your Program
C•Control Change
Assessment of Current State
Information Risk
Identify Internal IG Requirements
Highly Regulated or Not?
Knowledge Management
Corporate Culture
Other Business Factors
SWOT Analysis
Build Your Program
Identify Key Stakeholders
IT, RIM, CIO, GC, COO, Managing Partner
Obtain Executive Sponsorship
Development Roles/Responsibilities for your Key Stakeholders
Adopt a Vision
What is your goal for the next 3-5 years?
Define steps to take to meet your business goals
And Don’t Give Up!
Analyze Internal Drivers
Corporate Culture
Current Business Plans
Financial constraints
Analyze External Drivers
Technology Trends
Industry Best Practices
How you “Stack Up” with your competition
Policy & Procedure
Clearly define the scope of your policies and procedures to ensure all information is managed throughout the enterprise
Communicate Your IG Program
Consider who will be impacted by the new policies and procedures
Knowing all parties that will be affected helps determine the means by which you communicate
Customize your message for IT, Legal, Business, etc.
Outline Goals of the Program
Training
Classroom Instruction
Online Learning
Series of Training Videos
Be Consistent
Add to New Hire Program
Control Change
Mergers & Acquisitions
Technology
• Barcode & RFID Tracking
• Predictive Coding
• Big Data
• Cloud
Laws and Regulations
What Were Trying To Achieve?
Reduce Risk
Ensure Compliance
Maintain Security
Retain Properly
Dispose Consistently
Who Leads The IG Charge?
Chief Information Officer
General Counsel
Chief Operating
Officer
Managing Partner
Records Manager
IT
References
• Law Firm IG Symposium – Iron Mountain http://programs.ironmountain.com/forms/LawFirmIGSymposiumReport
• Robert Smallwood – IG Concepts, Strategies & Best Practices http://www.wiley.com/WileyCDA/WileyTitle/productCd-1118218302.html
About FileTrail
450 Clients and 20% Annual Growth
North America: 80%
Europe: 20%
APAC & Africa
Information IntelligenceLeader in Management, Asset Tracking and process improvement
HQ in San Jose, CAEast Coast:
Washington DC
Founded in 2000Over 20 years of URM Experience
Jim Merrifield, IGP, CIP
Phone: (646) 584-7687Email: [email protected]: @jimerrifield @FileTrailWeb: www.FileTrail.comBlog: www.infogovmode.com
