Legal risk management

The purpose of legal risk management is to identify the "hidden" risks, including individual risks, the mutually affecting or mutually accumulating risks that could potentially evolve into "the perfect storm". 

In our experience, many businesses fail to clearly identify their real legal risk exposure and to define the risk profile they want or the risks they are qualified to take. 

Kromann Reumert has created an analysis universe in which your legal risks are in focus. We have developed various instruments that can help us identify the most obvious risks. One of them is our Legal Risk Radar. The Legal Risk Radar can assist you in identifying at least some of the potential risks your business is exposed to.

A legal risk management process will also help you draft and implement a forward-looking legal risk management strategy to ensure that you have a realistic picture of your overall risk exposure.  

Our advice 

Our advice and assistance include: 

• risk analysis and assistance in identifying legal risks
• drafting of clear guidelines defining which risks can and should be assumed
• definition of a distinct risk profile
• implementation of a risk management / governance structure in the organisation
• ensuring that the overall risk exposure of the business matches its resources, competencies and financial capacity
• ensuring that the overall risk exposure of the business always matches its desired risk profile and competencies
• ensuring that all management members and employees understand and comply with the risk strategy and the associated guidelines and processes (the risk culture).