The Transforming Role of a Chief Legal Officer

The groundbreaking transformations in the global business arena have invoked necessary alterations in the functions of a chief legal officer (CLO). In an article on Mondaq, Priscilla Westerhof-Fittipaldi addresses this very changing nature of the roles that are to be discharged by a chief legal officer, in the face of the evolving reality.

Among the three significant factors which have facilitated such a transformation, Priscilla mentions, the first is the expedited pace of business that warrants legal aspects to be somewhat adaptable without compromising on credibility. The next aspect is the massive data consumption and the need for its security and compliance that requires an upgraded skill set, on the part of the CLO. The third determining factor is the ever-increasing need for compliance to regulations, growing by the day. These three cumulative factors enunciate that the role of a chief legal officer is undergoing a steady transition so as to encompass and include additional aspects as heeding to the strategies of an enterprise and ensuring the utilization and due protection of ventures related to the digital economy as well.

Priscilla notes that in order to truly amplify the efficacy of a chief legal officer, it is also essential to equip him with innovative technological solutions and to aid his efforts by fostering credible partnership, all of which will enhance his efficiency and make him a valuable asset of an organization.