Risk Professionals, General Counsel Wield More Influence

Lora Bentley

Risk professionals are in demand this year according to Forrester. The research firm says:

Governance, risk, and compliance (GRC) professionals saw their influence increase substantially in the past year, and they will be asked to play an even greater role in organizations realizing that recovery and growth need to be well-controlled.

Similarly, those in general counsel roles are also expected to take a larger role in 2010. Citing research from Equilar, The Wall Street Journal reports 42 of Silicon Valley's 150 largest companies include their general counsel as one of their named executives, meaning the "chief attorneys," so to speak, are among the top-paid individuals in their organizations. Those who fill general counsel roles in Silicon Valley also make significantly more than their counterparts in other industries.

 

In part, the changes result from a increased regulatory burden, as well as the increase in transparency and internal governance requirements brought on by the stock option backdating scandal a few years ago and the economic downturn.Considering the the number of new regulations under consideration by Congress and the various federal agencies, I can't see that the trend toward more influential risk managers will fade any time soon.



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Jan 17, 2010 8:11 AM The Journal of Corporation Law The Journal of Corporation Law  says:

The Journal of Corporation Law recommends the following related article:

Stephen M. Bainbridge, Caremark and Enterprise Risk Management, 34 J. Corp. L. 967

Available in downloadable PDF form at: http://www.law.uiowa.edu/journals/jcl/pastissues.php

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