What is the purpose of a chief legal officer?

Asked by: Kiel Shields  |  Last update: September 15, 2023
Score: 4.6/5 (69 votes)

The chief legal officer (CLO) is an expert and leader who helps the company minimize its legal risks by advising the company's other officers and board members on any major legal and regulatory issues the company confronts, such as litigation risks.

What does the Chief Legal Officer do?

The Chief Legal Officer is the head of the corporate legal department and is responsible for the legal affairs of the entire corporation. This role includes providing legal counsel to the board of directors, chairman of the board, chief executive officer and other senior management.

What makes a good Chief Legal Officer?

To be successful, Chief Legal Officers should be more than just leaders of the legal department. As a CLO, you are a guardian of corporate ethics and a critical advisor in the boardroom. It's not enough to mitigate risk when it arrives, CLOs must be future-facing problem solvers.

What are the four faces of the Chief Legal Officer?

The role of today's chief legal officer (CLO) is complex, demanding much more than legal operations expertise. To be successful, a CLO must master and strike the right balance between “four faces”: Strategist, catalyst, guardian, and operator.

What is the difference between a Chief Legal Officer and a chief compliance officer?

Legal counsel is primarily in charge of contract drafting, negotiation, and review; compliance handles violations of the Code of Conduct, policies and procedures, or other wrongdoing by those employed or engaged by the organization.

A Conversation with Pierre Gentin, McKinsey’s Chief Legal Officer

42 related questions found

What is the other name for Chief Legal Officer?

A general counsel, also known as chief counsel or chief legal officer (CLO), is the chief in-house lawyer for a company or a governmental department.

What is the title for Chief Legal Officer?

The Chief Legal Officer (CLO) and General Counsel (GC) are both lawyers and leaders in an organization — depending on your company's size, you may have individuals hired into these roles already, or you may be seeking to create these positions within your business.

Who should the CLO report to?

Most CLOs Report To The CEO

The above dynamic is only one of several risks CLOs and GCs face when directed to report to the CFO instead of the CEO or a larger executive team. Other potential issues include: A conflict of interest if the CFO makes decisions that are sound financially but not ethically.

Who is the highest ranking legal officer?

The United States attorney general (AG) is the head of the United States Department of Justice, and is the chief law enforcement officer of the federal government of the United States.

Who is the highest legal officer?

Attorney General is the highest law officer in India. Article 76 of the Indian Constitution under its Part-V deals with the position of Attorney General of India. He is the chief legal advisor to the government of India and advises the union government on all legal matters.

What cabinet is Chief Legal Officer?

The Attorney General is the head of the DOJ and chief law enforcement officer of the federal government. The Attorney General represents the United States in legal matters, advises the President and the heads of the executive departments of the government, and occasionally appears in person before the Supreme Court.

Who is the director of the CLO?

Central Legal Office is headed up by Norma Shippin, who is experienced in advising clients at the most senior levels. As Director, Norma's role also includes acting as the senior professional lead for all solicitors in CLO.

Is Attorney General the highest law officer?

This is a part of the Union Executive. AG is the highest law officer in the country. Article 76 of the Constitution provides for the office of AG of India.

Who is a states Chief Legal Officer?

As chief legal officers of the states, commonwealths, District of Columbia, and territories of the United States, the role of an attorney general is to serve as counselor to state government agencies and legislatures, and as a representative of the public interest.

Who is a state's Chief Legal Officer?

Find your attorney general, the top legal officer in your state or territory.

What is the definition of a legal counsel?

In law, the phrase legal counsel is a set phrase that refers to a person's legal representation (that is, their attorney or team or attorneys), as in The defendant opted not to retain legal counsel. It can also refer to the services provided as part of such representation, and it can simply mean “legal advice.”

What is the highest salary for a lawyer?

Lawyers made a median salary of $127,990 in 2021. The best-paid 25% made $194,580 that year, while the lowest-paid 25% made $81,620.

What is the highest legal authority in the USA?

The Supreme Court of the United States is the highest court in the land and the only part of the federal judiciary specifically required by the Constitution.

Who is the highest lawyer in the US government?

The Attorney General represents the United States in legal matters generally and gives advice and opinions to the President and to the heads of the executive departments of the Government when so requested. In matters of exceptional gravity or importance the Attorney General appears in person before the Supreme Court.

What is the difference between General Counsel and CLO?

In that environment, the general counsel might be running the legal function day to day, and the CLO is responsible for managing the board. “That would be that person's primary client as well as the CEO. But that typically arises in very large companies.

Who are the parties involved in CLO?

Most of the time, the key firm in any given CLO is its manager. However, there are other key figures in the CLO market. In this video, Mike will discuss the roles of these participants, including the manager, the arranger, the investors, the trustee and the collateral administrator.

Who are the CLO managers?

CLO Manager means any Person (other than a natural person) which manages, advises, services or administers a Fund, the Capital Stock of which is the subject of a first priority perfected security interest in favor of the Administrative Agent.

What are the initials after a lawyer name?

Esq. is short for Esquire, and the abbreviation is appended to a practicing attorney's surname after they pass the bar examination. J.D. stands for Juris Doctor degree — anyone who graduates from law school can claim this credential.

What is the acronym for lawyer?

Getting licensed earns you the lawyer abbreviation of Esq., which stands for Esquire.

Who is C Suite?

"C-suite" refers to the executive-level managers within a company. Common c-suite executives include chief executive officer (CEO), chief financial officer (CFO), chief operating officer (COO), and chief information officer (CIO).