Proofing Your Practice Using Technology to Reduce Risk

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Risk and

Technology

- Why they Relate

Centralised Data Storage Conflict Checks Identity Proof Critical Dates Central Diary File Monitoring Wills/Deeds/Undertakings HR Policies/Intranet Integration Checklist

Proofing Your Practice

Using Technology to Reduce Risk

_{Legal IT}

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Reported by Insurance Companies.

10% of Claims caused by Legal error;

• Limitation Dates

• Agreeing to act too close to Statute Date • Naming of incorrect Defendant

• Failing to join in Defendants • Failing to join in Third Parties

Why Risk is now an Issue?

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90% of claims are coming from the following areas. • Administration • Drafting • Clerical Issues • Time Pressure • Compliance • Conflict

• Failure to maintain records • Failure to maintain systems

Why Risk is now an Issue?

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How is Risk Management used?

Establish the context – Nature of Business

Identify the risks - Compliance Identify the risks - Compliance

Analyse the risks – Likely to Happen Analyse the risks – Likely to Happen

Evaluate the risks - Rank the Risk Evaluate the risks - Rank the Risk

Treat the risks – Develop a Plan Treat the risks – Develop a Plan

Monitor & Review – Risk is Dynamic Monitor & Review – Risk is Dynamic

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To Make it Easier to Manage Risk

To Obtain & Maintain PI Cover

To Protect against being Sued

Principal Purposes of Risk Management

Peace of Mind

Why Use Technology to Manage Risk?

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Centralised Data Storage

“Centralise data, decentralise knowledge”

• Centralises the storage of data. • Integrated Registers.

• Automated Procedures. • Centralised updates.

Legal practice management software is a must-have for most legal offices.

It streamlines the process of handling and managing a case from start to finish. Legal case management systems allow busy solicitors to keep track of contacts,

documents, and calendaring, among other things, for each case that is added to the system; many offer time tracking and billing features also.

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Automated Conflict of Interest Searches

• Create Mandatory Data Fields. • Telephone Number

• PPS Number • Address

• Include all Contact Details. • Engineer

• Doctor • Witness

• Search Across Database.

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Christine Robinson 123 High St City Park Estate Cardhampton

Identity Proof/Anti Money Laundering

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Identity Proof/Anti Money Laundering

Email to Money Laundering Compliance Officer Email to Money Laundering Compliance OfficerEmail to Money Laundering Compliance Officer Email to Money Laundering Compliance Officer From: Notifications

To: Money Laundering Compliance Officer CC:

Date:10/05/2010

Subject: Anti Money Laundering Compliance

The following Clients have been created during the previous

week, it appears that no Identity Proofs are on file, please review these to ensure Identity Proof compliance.

Client ID Client Name Created on RYA1 Ryan, Peter J 04/05/2010 SMI3 Smith, Helen 05/05/2010 KEA67 Keane, Joseph 05/05/2010

This automatic email alert will be sent to the Money Laundering Compliance Officer each Monday until compliance has been detected.

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Integrated Section 68 & Client Care

• Terms of Engagement.

• Outline in detail the fee structure. • Helps manage the clients

expectations.

• File Opening Forms. • File Closing Form.

• Client Attendances & Client Communication.

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Standardise File Opening/Closing

Matter Opening Label

Client: Robinson, Christine

Client/Matter Code: ROB53/1

Matter: Sale of Property

Date Opened: 05/05/2010

Fee Earner: Joe Jones

Case Type: Conveyance - Sale

Section 68: Yes

Money Laundering: Yes

Contact No.: 085 1234567

Undertaking Label

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Management of Critical Dates

• Date of Incident on PI (2 Years) • Date of Death (2 Years)

• Probate (4 Months / 1 Year) • Defamation (3 Years)

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Management of Critical Dates

• Practice Wide Procedure for Data capture.

• System monitoring of quality of input.

• Automatic monitoring of all relevant cases.

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Management of Critical Dates

“Need to Know” alerting basis.

If a critical date is not inserted at file opening.

Example.

1 week after file opening, send reminder to Solicitor

2 weeks after file opening, send reminder to Solicitor & Partner 1 month after file opening, send reminder to Solicitor, Partner and Managing Partner

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Management of Critical Dates

“Need to Know” alerting basis.

If proceedings are not issued, a reminder email is sent to lead fee earner.

Example.

6 months prior to expiry date, send a reminder to the solicitor 5 months prior to expiry, send reminder to the solicitor and Partner

4 months prior…. 3 months prior… ..

1 month prior, remind F/E, Partner, Supervisor, Managing Partner

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Centralised Diaries

We should integrate and consolidate documents, transactions and information.

Centralised Diary using Exchange “All in my head”

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File Monitoring

• File Status. • Live. • Dormant. • Dead.

• File Audit Procedure– By who, when? • Fee Earner Activity – Time Recording. • File Progress Reports.

• Key Dates. • Milestones.

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Standard Reports in Practice Management Systems

• Section 68 • Dormant Files • New Files Opened • Closed Files

• File last Audited Date • File Progress reports

• Fees Earned over case Types • Register undertakings and status • Critical Dates pending

• Conflict Search completed Yes/No • Money Laundering Reports

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Centrally store Undertakings/Wills/Deeds

• You need Undertaking, Wills and Deeds Registers.

• Extremely important due to the exposure for the firm.

• Make sure procedures are in place and that everyone knows them.

• Implement Automated Monitoring of Compliance – Allow system to track changes.

• Single point of entry/All information in one location, easy to search.

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HR Policies

The establishment of policies can help a firm demonstrate, both internally and externally, that it meets requirements for diversity, ethics and training as well as its commitments in relation to regulation and corporate

governance.

Training staff on procedures Recruitment Procedures Internet Policy Email Policy Complaints Register Supervision Procedures Office Manual Disaster Recovery INTRANET

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Integration Checklist

Policies & Registers for Undertakings, Wills, Deeds, Critical Dates, Complaints

Policies & Registers for Undertakings, Wills, Deeds, Critical Da

Policies & Registers for Undertakings, Wills, Deeds, Critical Dates, Complaintstes, Complaints

Section 68 Requirements, Anti Money Laundering Procedure, Conflict of Interest

Section 68 Requirements, Anti Money Laundering Procedure, Confli

Section 68 Requirements, Anti Money Laundering Procedure, Conflict of Interestct of Interest

Procedure & Register of File Review & Audit, Employee Supervision, Office Manual

Procedure & Register of File Review & Audit, Employee Supervisio

Procedure & Register of File Review & Audit, Employee Supervision, Office Manualn, Office Manual

Risk Manager & Risk Strategy, File Opening & Closing Procedures

Risk Manager & Risk Strategy, File Opening & Closing Procedures Risk Manager & Risk Strategy, File Opening & Closing Procedures

Internet & Email Policies, CPD Compliance, Recruitment Procedures

Internet & Email Policies, CPD Compliance, Recruitment Procedure Internet & Email Policies, CPD Compliance, Recruitment Proceduress

Client Account Policy, Disaster Recovery, Client Care

Client Account Policy, Disaster Recovery, Client Care Client Account Policy, Disaster Recovery, Client Care

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Integrate – Centralise – Manage - Comply

Westpoint Business Campus, Ballincollig, Cork.