What has been the number one challenge that has impacted you over the past year?

Specifically for the past year, I would say adapting as a leader to the post-Covid lock-down era of much more flexible working and less office attendance both as the norm compared to pre-Covid, and getting the balance right. Personally, I feel these are generally very positive developments in terms of allowing people better balance and to manage that balance as they see fit, nor have I observed any decrease in productivity (if anything it has increased). The issue as leaders is how to ensure team members’ well-being, both professional and mental, in this more remote environment. Another issue is when to encourage (or indeed require) office attendance, and for what purpose. I find these topics tend to dominate a lot of conversations when I meet peers from other companies or professional firms. No doubt they will continue to play out for some time to come yet.

Looking forward, what technological advancements do you feel will impact the role of in-house legal teams in the future the most?

In the immediate future, I think applications that better generate and manage contracts (and not just standard form contracts) in a more automated and efficient way will serve to ease some of the burden in this area. Longer term, it will be fascinating to see how the development of applications like ChatGPT (as issues around accuracy, quality and IP management, confidentiality and LPP evolve and resolve) serve to make in-house legal practice more efficient and effective.

What would you say are the unique qualities required to be successful as an in-house lawyer in your industry?

Probably not too much different from other industries, but certainly in financial services (especially the prudentially regulated sectors) the constant change in legislation, regulation, regulatory oversight and external economic conditions and consumer behaviour requires very high levels of resilience and agility. Those who cannot easily deal with change will struggle. Given the complexity in this area, as obvious as it may sound, continuing to actually “be a lawyer” is also key – keep up to date, be prepared to get your hands dirty, provide legal advice – do not just be a conduit between external legal and the business. Commerciality, pragmatism, and judgement are all really important and expected, but not at the expense of (or as a substitute for) retaining and developing your legal skills. This is particularly so at the more junior levels.