Should we hire a Head of Risk & Compliance or a Compliance Manager?
A guide to deciding between a strategic Head of Risk and a tactical Compliance Manager for your law firm.
The Short Answer
Hire a Compliance Manager if you have the strategy set and just need someone to run the engine. Hire a Head of Risk & Compliance if you need someone to build the engine, set the strategy, and hold their own in a room full of partners.
The Compliance Manager: The Tactical Engine
A Manager is usually focused on the 'how'. They ensure AML checks are done, files are audited, and reports are filed. They are essential for operational efficiency but may not have the seniority to drive firm-wide cultural change.
The Head of Risk: The Strategic Lead
A Head of Role is focused on the 'why' and the 'what next'. They look at the horizon for upcoming regulatory shifts and adjust the firm’s course accordingly. They bring a level of gravitas that allows them to challenge senior partners on risky business decisions.
The Bottom Line
If you are looking for someone to manage a process, hire a Manager. If you are looking for someone to manage your firm’s future safety and reputation, you need a Head of Risk.
Want to know more?
Guide to Hiring Senior Risk & Compliance Professionals in UK Law Firms
What does a Head of Risk & Compliance typically cover in a law firm?
Why copying another law firm’s Risk & Compliance structure can lead to the wrong hire
How do we define what we need in a Head of Risk & Compliance if we don’t have internal expertise?
