Canadian Lawyer InHouse

23 CANADIANLAWYERMAG.COM/INHOUSE JULY 2017 someone who has had decades of experience in the regulatory framework is invaluable. In particular, they are adding a lot of value in training to me and my team and their willingness to come on site and meet one on one with the executive team, I have found tremendous value in that. OZYETIS: I think a lot of firms employ that same approach — it's a competitive means of using any touch point. I think it does get firms to the top of the list when you have a significant matter. INHOUSE: Do you think firms are getting better at budgeting and reporting into you on matters? COTRONEO: I do not think they are getting better at it. It is almost a project manage - ment skill I have found to be lacking with my external providers. It is something I would like to set my expectations about at the beginning of a particular project. I am looking for constant feedback, just as we do in the business on projects and priori - ties and that is not something that has come easily. I think there are two streams here — it's about fees and how we're tacking on that front and how is the work being done? Is it efficient and at the right level? I want to hear from them about, certainly, how we are achieving our financial targets but also how we are getting that work done and whether the model is correct. There are a number of dimensions I'm looking for a dialogue on and I don't feel we're there yet. wide range of resources available so [offshoring] is not as top of mind for people as it once was. NYGUYEN: Yes, I would agree. As I start to look at alterna- tive service providers, I'm not looking offshore, I'm looking near shore. But I talked to a friend who did a large transaction and used an offshore for the amount of documents involved. It really de - pends on scale — the type of work we do is smaller. Probably better to keep it home. INHOUSE: What about managing risk in your organizations? NYGUYEN: We are a risk management company, so risk is part of our DNA. We do an annual risk assessment. Across the executive team, everyone thinks about risk and we follow it through and use our own software to map out our 10 key risks for the year. I manage the traditional items of IP and litigation risk. I am responsible for the insurance portfolio in the company. A related matter is privacy — we operate a global business and everyone is concerned about GDPR and its coming into force and how it affects us as a Canadian provider with European customers. I'm starting to turn more of my time to that and what we need to do as an organization. OZYETIS: Each lawyer has a different vis - ibility and insight into our enterprise risk and that means tons of accountability and input. Cyber and IP as well as litigation and reputational risk are big ones for us. COTRONEO: We are highly focused on CASL and regulatory requirements and brand and reputation in market. We've been very proactive on cyber and where it's residing. We have the benefit — being a multinational organization — to learn from colleagues in other jurisdictions. We've got those learnings. Cyber is at the top of the house in terms of how we're managing our risk. IH As we do M&A, is there a way to have due diligence done by professionals other than lawyers? I've certainly had conversations with professionals as to how we might do that. PETER NGUYEN, Resolver Inc. We use financial tracking software that allows law firms to upload invoices, but we don't use it as project management with ex- ternal providers. REBICK: Are you looking to use common technology with your law firms? Such as the same messaging system or a portal? NGUYEN: I would love it if our external pro- viders were on [messaging system] Slack be- cause it's so pervasive in our organization. I'd love to be able to do that externally. I'm look- ing for the convenience of communication. VESELY: All of this gives me a heart attack because the regulators are requiring more and more that the financial sector main- tain all communications from voicemails to tweets to WeChats, but as you work with the Asian client base, that's what they want you to use. INHOUSE: Is anyone using offshore services? If not, is it because you're choosing services here at home? OZYETIS: I think that's probably right, it's pretty competitive right now and there are a

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