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General Counsel Resume Examples

The general counsel position has become more popular among legal professionals in recent times. This is due to the immense popularity of the job among law school graduates. However, popularity aside, there’s still the issue of developing the ideal general counsel resume, one that will wow any legal department that’s hiring. 

The general counsel job is one of the most important positions within a company’s corporate governance fabric. 

This makes it even more necessary to accumulate a resume that reflects your expertise and experience in a specific area of employment law and corporate compliance

In case you’re seeking a career in corporate legal matters, read on. In this article, I’ll give 7 important general counsel resume samples that you can emulate during your career in law.

Let’s get into it.

7 Top General Counsel Resume Examples

The majority of larger companies need some sort of in-house corporate counsel or legal research guide to help them navigate various legal issues.

The term ‘legal counsel’ encapsulates several areas of legal advice and corporate legal affairs.

These include:

  • Regulatory compliance
  • Intellectual property protection
  • Legal risk management
  • Contract negotiation
  • General arbitration
  • Human resources 

The professional resume templates in this list include these areas of counsel and more. 

1. General Counsel (In-House)

Directed an in-house legal department in all matters of internal jurisprudence and advice, as well as lent the considerable experience in every aspect of contracting, billing, and acquisitions to help navigate the legal side of business development.

Primary Responsibilities

  • Developed all deal and transaction documents related to home acquisition, hospice care, medical professional groups, living facilities, and medical equipment.
  • Reviewed and revised all contracts and paperwork drafted by the host company and in relation to all affiliates.
  • Performed all due-diligence related to acquisitions for health and general regulatory issues, as well as drafted summaries for diligence.
  • Created survey and accreditation guidelines and policies for complete compliance with the Joint Commission certification requirements.
  • Performed daily research on multiple regulatory topics including noncompetition agreements, corporate practice of medicine, and licensing laws.

Furthermore, oversaw the development and implementation of the company-wide compliance program, while ensuring that both in-house employees as well as third-party contractors operate as per the set guidelines. 

2. Assistant General Counsel

Served in an advisory capacity to the board of directors at a real estate venture firm, and advised senior management in developing legal strategy related to procurement, securities, business diversification, and divestitures.

Primary Responsibilities

  • Represented the company’s interests in various contracts, transactions, mergers, and misc. ventures, as well as directed the course of action towards such operations.
  • Provided legal advice on federal, state, and local regulatory compliance issues, employment laws, etc.
  • Oversaw large transactions, settlements, and other major financial ventures on behalf of the parent company.
  • Assisted in developing and implementing several corporate finance strategies and mergers with offshore firms, while ensuring compliance with merger regulations in foreign markets.
  • Led the disclosure committee and implemented standard practices to ensure compliance across the board. 

Furthermore, helped develop operational strategies for buildings in new locations and represented the company in multiple legal settlements.

3. General Counsel and Vice President-HR

Served as the prime legal officer for a company with 1,000+ employees, with revenue consistently exceeding $1B and hiring plans to expand the employee base to 1,500 within a 12-month period. Also assisted the HR team with financial decisions pertaining to employee compensation.

Primary Responsibilities

  • Managed company staff of 100+ reports and misc. outside counsel/law firms, as well as several external contractors hired on a recurring basis.
  • Worked with outside legislators and several special interest groups as prime legislative liaison on matters of policy and regulations.
  • Provided technical training and assistance to ensure complete compliance and drafted legislation as needed.
  • Investigated alleged and suspected violations of law such as discrimination, conflicts of interest, fraud, and ethical violations.
  • Advised managers and executives regarding legal issues pertaining to company human resources.

Additionally, investigated misuse of company resources and other (related) incidents of fraud, while maintaining a record of all standard operating procedures to single out instances of negative practice.

4. Deputy General Counsel

Served as an authority of security and legal filings such as NDAs, Forms 8-k and 10-k, customer and vendor agreements, acquisition documents, as well as lines of credit. Also directed the legal department in global sales litigation and organization. 

Primary Responsibilities

  • Developed and directed legal operations within departments such as investor relations, human resources, and accounting. 
  • Chaired the enterprise-wide risk-management committee and implemented improvements in the risk management fabric
  • Standardized a customer contracting process which led to administrative efficiencies.
  • Provided anti-kickback and false claims training to all new and experienced staff.
  • Addressed NYSE requirements, corporate governance, and various other directorial issues in shareholder meetings. 

Additionally, addressed multiple issues related to employee benefits and regulatory compliance.

5. Global Regulatory Counsel

Managed legal product compliance for food and beverage in a number of international markets while implementing regulatory protocols. In addition to that, ensured ingredient qualification for all products.

Primary Responsibilities

  • Lent international regulatory expertise in food and beverage, as well as medical devices and drugs. 
  • Performed risk evaluation and management for marketing, sales, and import-export activities.
  • Addressed concerns of global regulatory agencies and provided relevant solutions.
  • Oversaw development of product promotional material, approval of marketing literature, and product development initiatives.
  • Drafted and approved corporate transactions, contracts, and various research and development projects.

Additionally, reviewed all ongoing business operations and technical procedures to ensure that they are up to federal, state, and local codes. 

6. Assistant General Counsel – Compliance

Served in an advisory capacity to maintain federal and state regulatory compliance on business practices and operating procedures. Also performed oversight of employee-specific activities and compensatory policy development. 

Primary Responsibilities

  •  Reviewed and approved policies pertaining to environmental matters, such as waste disposal and alternative fuel usage.
  • Ensured compliance within industrial facilities and construction site enforcement, as well as illicit discharge enforcement.
  • Managed total caseload related to collection matters, property rights, and torts.
  • Prepared memorandum and reviewed questions regarding fact situations and public policy.
  • Drafted and negotiated licenses, administrative rules and regulations, rights in land, and misc. property, and easements.

Overall, made sure the company operated as per incumbent laws and regulations on all fronts. 

7. General Counsel, Senior VP, and Secretary

Functioned as the primary legal authority (senior lawyer) chief ethics officer, corporate secretary, and non-regulatory compliance officer for a Fortune 500 company. Managed major compliance and forensic reviews for large-scale financial fraud.

Primary Responsibilities

  • Drafted and negotiated complicated regulatory compliance opinions for all proposed acquisitions.
  • Oversaw and completed major asset acquisition and all accompanying financial transactions.
  • Managed coverage-based disputes with all involved officers and directors, as well as between the company and errors and omissions carriers.
  • Structured critical thinking in a way that prevents a requirement for unobtainable lender consent.
  • Transitioned the company to NYSE (formerly in NASDAQ) without the need of any outside counsel.

Additionally, assisted the leadership in creating cost-effective operational measures that maintain compliance and prevent the need for expensive legal proceedings. 

Developing the Ideal General Counsel Resume

Any legal resume, be it an attorney resume or litigation portfolio, needs to have a diverse range of legal applications and activities in it.

This is to show that the individual has had a wide range of responsibilities and has performed in several different roles within a legal department (corporate or government) throughout their years of experience.

Additionally, the resume format itself should be constructed according to the individual’s credentials and should be accompanied by a cover letter from a reputable source.

A resume builder can help job seekers develop a cv that will help recruiters notice all your experience as part of a legal team. 

Ending Note

Whether you’re on a LinkedIn job search within the realm of legal counseling or progress an already existing career in the same field, you need the perfect resume to carry your achievements and experience to any potential employer. 

In light of this, it makes sense for job seekers to work on crafting a resume that impresses recruiters and guarantees your professional progress in corporate legal affairs.

In conclusion, the best course of action for the modern general counsel hopeful is to research the important areas of practice today and diversify their knowledge in order to become more valuable legal professionals

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Career Resources Culture Job Descriptions

Chief Compliance Officer Role and Responsibilities

Every organization faces some level of risk due to several regulations and compliance standards. It’s imperative to ensure you’re completely compliant. That’s where compliance officers come in, and the chief compliance officer role manages them all. 

The chief compliance officer role and responsibilities tend to vary depending on the industry and organization. For example, corporate compliance tends to work differently than federal compliance. 

In this article, we’ll take a closer look at the chief compliance officer role and their responsibilities. 

Who is the Chief Compliance Officer? 

The chief compliance officer (CCO) monitors, oversees, and manages compliance issues and matters within their organization. 

The chief compliance officer makes sure that their organization is taking care of its regulatory compliance and regulatory requirements. Furthermore, they have to ensure that all organizational employees are in adherence to corporate policies and procedures. 

The compliance officer position was initially needed in heavily regulated industries such as healthcare and the financial services industry. However, other companies followed suit during the 2000s accounting scandals. During that time, the Sarbanes-Oxley Act was enforced, along with recommendations from the U.S. Federal Sentencing Guidelines. The chain of events eventually led to thousands of CCOs being appointed in across the United States. 

As a result, thousands of organizations in hubs such as New York, San Francisco, and other major cities created compliance departments. The compliance department works side by side with the legal department and senior management. Usually, the compliance department has several compliance officers working with different departments. 

At the top, the chief compliance officer manages all the other compliance officers while also assisting in business administration. 

The Chief Compliance Officer Role 

The chief compliance officer of an organization or agency is responsible for managing compliance risk, developing company policies for compliance, and monitoring compliance issues. 

Usually, the CCO role is on the executive level. Therefore, the chief compliance officer reports directly to the Chief Executive Officer (CEO). In some companies, the chief compliance officer also works with and reports to the Chief Financial Officer (CFO), Chief Risk Officer (CRO), and the Chief Information Officer (CIO). The chief compliance officer may also have to work with senior management and report to the board of directors in some companies. 

Each company’s compliance function determines its relation to the overall market and the government. Therefore, it’s imperative to fulfill all compliance requirements and legal requirements to maintain a good image with the regulatory bodies. 

As a result, some chief compliance officers tend to keep good relations with the regulators and compliance professionals. 

Each industry has different regulatory bodies, and there are different regulations for each organizational department. For example, the human resources department would have different compliance issues than the finance department. 

It’s the chief compliance officer’s job to make sure that all organizational departments are implementing the compliance program. The chief compliance officer role also involves doing compliance reviews to minimize compliance risk. 

However, the chief compliance officer can be privy to a conflict of interest. Conflicts of interest usually occur when you have a duty of implementing compliance plans, but it stands to hurt the organization somehow. The chief compliance officer has an ethical duty to always report any compliance issues. Especially if they’re part of the in-house compliance department. At that point, their primary directive is risk assessments and mitigation. 

In any case, CCOs have to maintain a certain level of confidentiality when working with organizations. 

Responsibilities of a Chief Compliance Officer 

Every chief compliance officer has to work in several capacities in different organizations. The responsibilities and duties mostly depend on the organization and the industry. For example, a chief compliance officer in the finance industry would have more responsibilities with tons of financial regulations, internal policies, internal audits, and other compliance requirements. 

In any case, the following responsibilities, tasks, and duties are what the typical chief compliance officer role entails. 

  • Reports directly to the executives, including the CEO, CFO, CIO, and the CRO relaying all news and updates related to compliance activities. 
  • Explain and define a certain level of knowledge of compliance standards that each employee should have in various departments. 
  • Help relevant parties understand certain applicable laws, such as the GDPR Data Privacy Regulations. 
  • Develop an annual compliance work plan, along with the general counsel that reflects the organizational approach. 
  • Revise existing compliance plans if there is any change in regulations, organizational direction, or any other relevant reason. 
  • Oversee the compliance program and plan and manage the internal controls. 
  • Work with the compliance and legal teams to ensure they’re on track and working efficiently. 
  • Provide guidance, advice, and training to all the departments regarding relevant laws, rules, regulations, and compliance standards. 
  • Read, review, and analyze compliance reviews to figure out if there are any compliance issues. After figuring out the issues, develop workable and effective solutions to counter the problem. 
  • Develop and manage risk assessments with the risk management department or the risk officer. Evaluate potential compliance issues, take part in risk management, and ensure there are no long-term problems. 

The responsibilities, tasks, and duties listed above are common for most chief compliance officers. However, you will find that some organizations will have industry-specific responsibilities too. Furthermore, each company tends to also have some organizational changes. 

How to Become a Chief Compliance Officer 

The chief compliance officer role is one of the highest positions in an organization next to the executives. According to Glassdoor, the average chief compliance officer salaries in the United States can be summed up to $149,943. Furthermore, the typical salary range for the chief compliance officer salary is between $83,000 and $218,000, with the higher range offered in cities such as New York and San Francisco. 

Considering that the chief compliance officer salary is very high compared to the national average, it’s safe to say that the position is essential. However, the salary also tends to change according to different industries and organizations. For example, chief compliance officers in a company in the financial sector would be paid more due to additional responsibilities and expectations. Alternatively, a CCO in a retail company may not be paid equally. 

The chief compliance officer role is an executive role where they work directly with the executives or with senior management. In any case, it can take years to reach a level where you can become a chief compliance officer. 

You have to start out as a compliance officer, risk officer, or an attorney. You can then make your way up to management and to the executive level. 

However, it’s best to have a Juris Doctor degree or a master’s degree in a related field. Along with years of experience, you need to be able to show your background that needs to be entirely law-related. 

You should always brush up on industry-specific laws, regulations, rules, and compliance standards. It’s crucial to have all the necessary information at the back of your mind as the chief compliance officer. 

Try and keep a good relationship with the State Bar Association, regulators, and the various regulatory bodies. Most importantly, practice compliance in an ethical way. 

Understanding the Chief Compliance Officer Role to Become a Great CCO 

Becoming a great chief compliance officer requires you to have a complete understanding of the law and compliance standards. It’s crucial to remember and understand the chief compliance officer role and all the responsibilities that come with it. 

Most importantly, you need to rack up a lot of experience to justify your worth. It’s best to focus your career on any one industry so you can learn as much as you can. Staying in the same industry helps you understand compliance better while giving you plenty of helpful resources. 

The working experience will eventually let you develop excellent compliance programs and policies for your organization. You’ll also be able to develop working relationships with various regulatory bodies, regulators, and other stakeholders. 

Furthermore, it’s also best to have a good relationship with other chief compliance officers, general counsel, and compliance officers. You can employ their help in drafting recommendations, advice, and developing compliance plans. 

Most importantly, it’s critical to avoid any conflicts of interest. It’s important to work ethically and in the interest of the organization that hired you.

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Best Compliance Newsletters in 2021

The world of compliance is extremely dynamic as new laws and regulations come into practice while old regulations get adjusted. Therefore, it’s crucial to be up to date with the latest compliance news. That’s why it’s best to get your information from various compliance newsletters to keep updated. 

There are several compliance newsletters you can subscribe to; however, there are different compliance newsletters for each industry. However, you can subscribe to newsletters that offer compliance news and information on other hot topics in general. 

In this article, we’ll go over what compliance is and what are the best compliance newsletters you can subscribe to in 2021. 

What is Compliance, and Why is it Important? 

Compliance is quite simply the act of following the rules, laws, and regulations laid down by the local, state, and federal government. Each level of the government enacts new regulations to ensure there are fair business practices in the United States. 

There are different kinds of compliance, including federal compliance, corporate compliance, and more. Companies and organizations lay down various internal and external policies to manage their compliance programs effectively. Staying compliant helps organizations avoid violating laws and rules, so they’re no levy to any lawsuit or fines. 

In any case, compliance isn’t a simple task you can tick off in your to-do list; it’s an ongoing process based on various factors. You can’t read a few FAQs (frequently asked questions) and understand compliance; you need a compliance officer with adequate compliance training. 

The compliance officer usually has all the necessary continuing education required and has enough regulatory compliance knowledge to understand most laws. For example, you may not realize it, but understanding various laws such as Title IX and offices like the Office of Foreign Assets Control (OFAC) may help you with regulatory compliance at some point. Other than that, your compliance officer may even keep you safe from money laundering dangers, a data breach, or any other potential issues like regulatory changes. 

In hubs like New York, compliance can include things such as export control, cybersecurity, code of conduct at the company, HIPAA compliance, healthcare, accessibility, risk management, data privacy, and more. Being compliant also means large organizations are required to have a hotline for whistleblowers. 

In any case, compliance ensures companies are practicing fair business while ensuring customers are being treated fairly too. Strict compliance standards ensure companies and organizations stay in check, especially during crises, such as the recent COVID-19 pandemic (coronavirus). 

Top Compliance Newsletters in 2021 

There are several compliance newsletters for different industries you can check out. However, it’s best to consider reading up on well-known and industry-specific newsletters. For example, if you work in the financial services industry, you should subscribe to a newsletter that provides the latest news on all finance-related regulations. 

However, that doesn’t mean you shouldn’t read up on other newsletters too. For example, some compliance newsletters tend to provide news on regular laws and regulations that apply to all kinds of organizations, whether you’re an athletics wear company or a social media company for that matter. 

It’s best to keep in touch with the rules, laws, and regulations that apply to all industries. Meanwhile, you should emphasize on the rules and regulations of your industry to become an expert on it. 

Some companies also have newsletters that have a dedicated news section for compliance. For example, at times, LinkedIn gives news on relevant regulatory changes. In any case, it’s advisable to subscribe to well-known compliance newsletters that offer general and relevant information on new and existing rules, laws, and changes. 

However, the following compliance newsletters are some of the best compliance newsletters you can subscribe to going into 2021. 

1. Corporate Compliance Weekly News 

The Corporate Compliance Weekly News is the weekly newsletter by Corporate Compliance. The website is the official site of the Society of Corporate Compliance and Ethics (SCCE). 

The newsletter is emailed every Thursday and includes the latest weekly compliance news and updates. The publishers take five days of the week to scour major news sources, congressional hearings, case law updates, and more to develop the newsletter. 

Using their research, they summarize the most relevant corporate compliance-related news and compile it into a single newsletter. 

Each of the updates and news stories in the compliance newsletter includes a link to the source of information. You can authenticate the news or read up on it further if you’re interested. 

To subscribe to Corporate Compliance Weekly News, enter your email here. You can choose to receive the email in HTML format, or you can get the newsletter in a plain text email. 

2. Report on Supply Chain Compliance (RSCC) 

The Report on Supply Chain Compliance is another newsletter by the corporate compliance website – managed by the Society of Corporate Compliance and Ethics. 

The RSCC offers the latest news and compliance strategies on a worldwide level. The supply chain is a crucial part of most organizations and faces continuous risks from all fronts. Having a proper risk management program for your supply chain management is critical to company operations. 

SCCE’s Report on Supply Chain Compliance opens you up to the global news on all things supply chain, including news on compliance tools, regulation enforcements, regulators, accreditation requirements, and changing supply chain management standards. 

The newsletter also offers a wealth of information on things, such as: 

  • Regulation guidance for various industries. 
  • Third-party due diligence. 
  • Trade agreements and sanctions in different circumstances. 
  • Human trafficking, modern slavery, and other common problems. 

The newsletter is entirely written by renowned journalists and compliance specialists. Each story offers a window into valuable compliance tools and provides successful compliance advice. 

When you subscribe to the yearly RSCC newsletter here, you get access to 22 issues that are published biweekly throughout the year. You also get access to all back issues if you want to go through old newsletters. Most importantly, you get 1.0 non-live continuing education unit (CEU) requirement for every RSCC issue you read; the points count towards getting certified by the Compliance Certification Board (CCB). 

3. Ethikos 

Ethikos is another newsletter by SCCE that focuses on the value of business ethics. It’s a long-running newsletter that started off by offering insight into ethical business practices. Today, it provides updates on changing trends and ethical compliance standards. 

The newsletter has several featured articles that are written by ethics and compliance experts. Furthermore, it also features various case studies, interviews, and case reports of different companies, industries, and leaders who shape today’s corporate culture. 

The Ethikos newsletter provides updates on all compliance news related to business ethics and best practices; however, other information you can find in the newsletter includes the following: 

  • Effectively communicating ethics to a dynamic audience. 
  • The right way to build a corporate culture while staying completely compliant. 
  • The way ethics and compliance officers interact with and manage ESG principles. 
  • Interviews with various leaders in business ethics and compliance. 

The newsletter offers a breadcrumb approach to business ethics so that new readers can catch up effectively with a great user experience. Since all the content in the newsletter is written by ethics and compliance professionals, they also offer tips and information on various ethics and compliance-related issues. 

If you’re a well-known industry professional, host webinars, and have proven experience in the field, you can also write for Ethikos. All you have to do is follow the privacy statement, rules for writing and be a member of SCCE. 

You can subscribe to the yearly newsletter of Ethikos here; it’s available for both SCCE & HCCA members and non-members, albeit at slightly different prices.  

Choosing the Right Compliance Newsletters to Subscribe to 

The compliance field is constantly under change as new laws and regulations come into play while older regulations are adjusted to current standards. It can be hard to keep up, especially for entry-level compliance officers and small-sized companies. 

Therefore, it’s crucial to keep up to date with all changes to manage the compliance standards of an organization. The best way to do so is to subscribe to several compliance newsletters that offer the most value. 

The compliance newsletters listed above are extremely valuable for general compliance practices. That means they’re not restricted to any single industry but are important for compliance professionals in all industries. 

However, you should also find and subscribe to compliance newsletters that are dedicated to providing updates on your specific industry only.

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Association of Corporate Counsel Review: Worth it to Join?

Working in the legal world can be extremely hard, especially if you’re working your way up the ladder. Whether you are a general counsel, associate general counsel, deputy general counsel, or assistant general counsel, working for an organization or government agency might be hard, but getting a job can be harder. In such cases, joining the Association of Corporate Counsel (ACC) can give you the edge over other attorneys. 

However, the Association of Corporate Counsel is more than just a collection of corporate counsels. Some companies overlook the organization entirely, while others base their decisions on your membership. 

In this article, we’ll go over what the Association of Corporate Counsel is, what’ it’s all about, and whether it’s worth it to join. 

Let’s get started. 

What is the Association of Corporate Counsel (ACC)? 

The Association of Corporate Counsel is a professional association that serves the business interests of attorneys and counsels who practice law and litigation in the legal departments of corporations, agencies, and other private organizations. 

Founded in 1981, the Association of Corporate Counsel was initially named the American Corporate Counsel Association (ACCA). Currently, the Association of Corporate Counsel is present in 85 countries and has over 45,000 members working in more than 10,000 private-sector organizations around the world. 

Currently, the Association of Corporate Counsel is headquartered in Washington, DC, United States. According to the President and CEO, Veta T. Richardson, the ACC is a non-governmental organization (nonprofit organization) working as a ‘professional society.’ The association’s motto is, “By in-house counsel, for in-house counsel.”

All ACC members are divided into regional chapters. Members communicate and collaborate within those regional chapters in various practice area committees. 

In total, the Association of Corporate Counsel has more than 60 chapters around the globe. Global branches of corporate counsel associations have been joining the Association of Corporate Counsel over the years. Recently, the Australian Corporate Counsel Association joined the ACC to form ACC Australia. Similarly, there have been ACC Middle East, ACC Alberta, and ACC Singapore too. 

The primary directive of the Association of Corporate Counsel is to help resolve the issues of in-house counsel. That includes working on things such as attorney-client privilege, multi-jurisdictional practice, the right to offer pro bono services, and more. 

Overall, the Association of Corporate Counsel helps with the professional development of in-house counsel by providing information, training, online education, networking opportunities, and advocacy initiatives. 

The global legal association also works beyond borders; for example, if you move from the US to Hong Kong, rather than joining the ACC again, you just have to reach out to a different regional chapter. 

What’s the Difference Between Outside and In-House Counsel? 

There are many events and summits, such as the General Counsel Summit (GCS) around the world. Some people are often confused as to whether they should invest time in attending such events or join the Association of Corporate Counsel for all their professional development needs. 

The best way to differentiate is to understand the difference between in-house counsel and outside counsel. 

In-house counsel includes attorneys working in the law department, legal department, or in the legal team as house lawyers, general counsel, and more. They actively take part in site work, attend legal annual meetings, and are dedicated to the organization they’re working for. 

Alternatively, outside counsels are either independent contractors or law firms that provide legal services to organizations and agencies. Outside counsels aren’t necessarily liable for any company faults and work as a service only. Their job is to offer legal services, an excellent user experience, and a docket for redundant legal and compliance tasks. 

Generally, companies with small or no legal departments tend to hire outside counsel. At times, larger organizations hire outside counsel to assist with a large project, such as an expansion plan. 

However, most companies prefer having in-house counsel due to privacy matters. 

The Association of Corporate Counsel is specifically for in-house counsel who work in various organizations. Therefore, as an in-house counsel, you can consider being part of the Association of Corporate Counsel to enhance your understanding of the legal world. 

However, if you’re working as an outside counsel, you should focus on attending various events and summit to further your professional development. 

Benefits of Joining the Association of Corporate Counsel 

As an in-house counsel, you may face various issues, especially when it comes to networking. The Association of Corporate Counsel helps you develop a regional and global network while giving you the tools you need for a professional edge. 

The following are the benefits you get by joining the Association of Corporate Counsel. 

  • Tons of Resources: The Association of Corporate Counsel has a wide range of resources, from sample policies to various risk-management training tools. The resources are created and developed by fellow ACC members around the world, covering every in-house practice area. You can review resource listings by material type, source, interest areas, region, and audience. 
  • Global Networks: As a member of the ACC, you are open to 19 practice area-based networks that allow you to develop meaningful relationships with other in-house counsel. You can interact with fellow in-house lawyers, get online resources, discuss & share knowledge on online forums, and attend online education events. 
  • Education and Events: As a member, you get access to several in-person and online education opportunities. The Association of Corporate Counsel’s Annual Meeting is the largest gathering of in-house counsels, offering more than 100 CPD/CLE programs. 
  • Regional Chapters: ACC chapters divide various communities and regions to offer better networking opportunities in each region. 
  • The ACC Docket: The ACC Docket is the Association of Corporate Counsel’s award-winning publication that’s available in print and online. It offers a wide range of content that addresses various issues and challenges faced by in-house counsel and is published ten times a year. 
  • Legal Operations: The Association of Corporate Counsel’s legal operations section supports corporate legal operations professionals. The branch offers benchmarking, resources, and opportunities to collaborate, and serves as a unified voice to advance the business function. 

It’s advisable to go through the membership benefits FAQs

How Can You Join the Association of Corporate Counsel? 

The Association of Corporate Counsel is a global bar association that focuses on the interests of in-house counsel. Therefore, if you’re an attorney who works in an association, corporation, or any other private-sector organization, you can join the ACC. 

However, member eligibility is for individuals who are actively practicing law and are employed by an organization. Furthermore, the person shouldn’t have any enforcement, regulatory, or policymaking responsibilities to avoid any malpractice. You should either be a full-time in-house counsel or contract attorney on a long-term placement (five years or more). 

It’s advisable to opt for Continuing Legal Education (CLE), if eligible. It increases your chances of getting a membership. 

You may be ineligible for membership under the following conditions. 

  • If your responsibilities include marketing, sales, and business development in the legal world. 
  • If your responsibilities include providing or selling services to clients other than their employer. That includes attorneys working in law firms and temp agencies. 
  • Any organization (applying for corporate membership) that has enforcement, regulatory, or policymaking responsibilities. 

There are four different types of memberships you can apply for depending on your situation. 

  • Individual Membership – is for individual attorneys working in any organization who want to join the Association of Corporate Counsel. 
  • Corporate Membership – is for organizations that want to join the Association of Corporate Counsel. 
  • In-Transition Member – is for existing members who can continue their membership at a reduced price if they lose their in-house position. 
  • Retired Member – is for retired attorneys who wish to maintain their ACC membership at a reduced rate. 

You can check out the more information on each membership type here

Is it Worth it to Join the Association of Corporate Counsel?

As an attorney, you can use every opportunity to network with other lawyers and counsels. It’s a great way to learn, expand your horizons, and get new opportunities. 

It’s definitely worth it to join the Association of Corporate Counsel if you’re an in-house counsel. It helps with your professional development, offer networking opportunities, tons of resources, and more. 

If you’re an outside counsel, you can opt for other ways to learn. However, it’s advisable to briefly work as an in-house counsel and reap the benefits of the Association of Corporate Counsel. 

In any case, you should give joining the Association of Corporate Counsel a try, at the very least.

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3 Corporate Compliance Insights for 2021

Every private-sector organization needs to have clearly defined compliance programs to ensure regulatory compliance. However, compliance issues can arise even with a complete compliance department. That’s why it’s essential to keep an eye out for the latest corporate compliance insights. 

Corporate compliance insights tend to help companies in heavily-regulated industries where regulations and laws tend to be very dynamic. The constant expectation of a change leads compliance officers to resort to corporate compliance insights for better enforcement actions. 

In this article, we’ll go over what corporate compliance is, why it’s important, and the top corporate compliance insights for 2021. 

Let’s get started. 

What is Corporate Compliance, and Why is it Necessary? 

Corporate compliance is simply the act of complying with a governmental statute, law, rule, or regulation. The corporate world is regulated by the local, state, and the federal government to ensure fair business practice and business ethics. 

Corporate compliance includes several things, including both external and internal policies and procedures. Enforcing these policies and following compliance standards helps organizations avoid violating rules, laws, and regulations, so they’re not fined or a victim of a lawsuit. 

In any case, corporate compliance isn’t a one-off thing or even a yearly task; it’s an ongoing process. Therefore, companies need to imprint compliance in their corporate culture to ensure all compliance policies are taken into account. 

The local, state, and federal government continually updates the laws and regulations. For example, the SEC has made an effort to push FCPA enforcement (Foreign Corrupt Practices Act). 

There are various measures of compliance in different cases. For example, the Environmental, Social, and Corporate Governance (ESG) approach is about ensuring you’re adhering to sustainability and societal impact regulations. The GRC (Governance, Risk Management, and Compliance) was developed to help companies achieve their objectives while following the rules and regulations. The GDPR Data Privacy Regulations were developed to help companies and customers maintain a certain level of anonymity. 

Similarly, there are organizations such as the Society of Corporate Compliance & Ethics (SCCE) that provide resources to companies to ensure compliance and ethical business practices. 

The reason all of this exists and is necessary is because the laws, rules, and regulations are designed to protect businesses and people alike. For companies, a corporate compliance program is essential because it protects your business from potential abuse, discrimination, fraud, wastage, and other disrupting practices. 

Most importantly, staying compliant helps avoid fines, lawsuits, and helps your employees and customers feel safe. 

3 Top Corporate Compliance Insights for 2021 

While compliance is essential for each organization, most of them don’t have a proper system of dealing with it. It’s hard to list down the full article length of laws, rules, and regulations any company has to adhere to. That’s where compliance officers, corporate compliance officers, and general counsels come in. 

The United States government is always making minor adjustments to the regulations of all industries according to changing industry dynamics. That’s why you will often find a new case study, whitepapers, podcasts, webcasts, and webinars on regulation adjustments. 

That’s especially true for heavily-regulated industries, including the healthcare, insurance, and financial services industry. 

In any case, it’s crucial for all organizations to be proactive with corporate compliance. The best way to do so is to research and analyze corporate compliance insights. Getting corporate compliance insights lets you prepare for any potential law or regulation changes. 

While corporate compliance insights can be different for each industry, some of them apply to all industries. The following corporate compliance insights for 2021 will apply to most organizations in several industries. 

  1. Account for Loss Contingencies 

In a recent turn of events, the SEC charged BorgWarner for making material misstatements because they failed to account for certain liabilities. 

According to Ron Kral from CCI, ‘Hindsight is 20/20’ is a statement that all companies should understand when it comes to loss contingencies. It’s easy to define contingencies when they’ve settled over time, but companies should have an idea if something is supposed to happen. Otherwise, any loss contingencies are the result of a bad decision made by the company. 

The U.S. GAAP recognizes that all contingencies are estimates, at best. That means companies develop contingencies based on assumptions, current knowledge, and future expectations. If loss contingency estimates are performed correctly, a bad management estimate would never trigger any need for a restatement of financial statements. However, if a company fails to develop the right estimates or doesn’t disclose loss contingencies, it can automatically trigger a restatement. 

In any case, accounting for loss contingencies is crucial and making precise estimates is critical. It’s imperative that all relevant stakeholders carefully and thoroughly document all material accounting judgments and assumptions. 

The truth about a contingency always comes out. At that point, the first questions from regulators and regulatory bodies will be to ask when the company first learned of the contingency and whether they disclosed it in a timely manner. 

It’s best to ensure you have the right compliance officers, financial people, and other stakeholders, along with robust controls to mitigate any risks of restatements and contingencies. 

  1. More Demand for Compliance and Risk Outsourcing 

The coronavirus pandemic (COVID-19) has changed the dynamics of thousands of companies across the United States. However, it has also shown how companies respond to panics and lockdown. 

In this case, due to the pandemic, there has been a 25% increase in risk and compliance outsourcing. It’s especially true for heavily-regulated industries like the financial services industry, where risk and compliance teams have turned to trusted third parties. 

According to the ACA Compliance Group, the reason for this hike can’t be reduced to any single factor. However, the primary reason is that most companies have asked their risk and compliance leaders to do more with less. In other words, they’re reducing costs while employing cost-effective methods. 

The reason this is a significant corporate compliance insight is that the increase in compliance outsourcing isn’t limited to the pandemic. Once the pandemic is over and we move on to 2021, the trend of outsourcing will remain. The primary reason is that companies have gotten a significant return on investment at a fraction of the price. 

Rather than spending thousands of dollars on in-house compliance officers, risk officers, and counsel, they can outsource it all for a fraction of the cost. 

However, companies that deal with private information, state-of-the-art research, or similar situations would still prefer in-house employees. However, most of the other organizations would opt for a more cost-effective and efficient compliance and risk management process. 

According to ACA, the dependence on third-parties and technology can lead to up to 60% cost savings for all risk and compliance functions. It will also lead to greater agility and the ability to scale compliance operations. Most importantly, you can develop better resilience to cyber threats, third-party risk, and business disruption. 

  1. Cloud Technology Compliance Strategies 

Cloud technology has been one of the most disruptive technologies since the internet. It’s already playing a huge role in various industries and will only get more relevant in the future. 

However, the importance of cloud technology has been exponentially increasing in the last few years due to the emergence of thousands of startups. Furthermore, the sudden surge in remote work and the need for greater work mobility and agility with fewer costs has led to an even higher demand for cloud technology. 

As more companies adopt a more flexible working approach rather than being restricted to the office, the demand for cloud deployments will increase dramatically. As more companies have started to offer cloud services, the overall costs are reduced, too, opening up the option of cloud technology for smaller companies. 

Eventually, many companies that haven’t gone through the advanced digital transformation will do so very soon. That will lead to new laws, rules, and regulations for cloud technology (on top of the regulations already in place). 

It’s best for companies to start developing cloud technology compliance strategies beforehand to account for any upcoming laws, rules, and regulations. 

Using Corporate Compliance Insights Effectively 

It’s crucial to be proactive with your compliance duties. However, what’s more important is to accurately develop a compliance program that takes potential regulation changes into account. 

To do so, you not only require accurate corporate compliance insights, but you also need to analyze them according to your organization. 

To ensure you have the right idea, take the corporate compliance insights and use them to adjust your organization’s policies and compliance programs according to your specific industry. 

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