Could Law Firms Benefit From Chief Resilience Officers?

From economic uncertainty and inflationary pressures to remote work policies and the impact of artificial intelligence, the list of challenges today’s corporate leaders face is long. Leaders often rely on ad hoc crisis management teams to tackle the legal, regulatory and reputational risks, but is there another approach?

To better prepare for and manage responses to crises, some organizations are raising resilience to a strategic priority. The role of chief resilience officer (CRO) — traditionally seen in government agencies to coordinate responses to natural disasters — is catching on among corporations.

Should law firms follow their lead?

What does a CRO do?

CROs focus on preparedness: strategic planning, coordination, reporting and training. They’re responsible for fostering a culture “at the intersection of preparedness and value creation” to best position their organizations to navigate emerging and ongoing challenges.

Th CRO’s role is cross-functional. They work across an organization’s silos to ensure that response teams and the appropriate business leaders can effectively manage a crisis to keep reputation and financial stability intact.

Key member of the executive team

To be successful in that cross-functional role, CROs generally report directly to the CEO. A CRO’s reports may include areas such as business continuity, risk management, security and facilities.

The CRO closely coordinates with the chief communications officer and the chief information or security officer. Strong communication and coordination skills are a must for CROs. They need to be able to effectively build processes and decision-making frameworks to ensure that their company can respond to crises with agility.

The next big thing in the law firm C-suite?

Companies with CROs are better prepared to handle disruptive events and quickly restore operations afterward — and law firms face the same economic, reputational, and physical risks as their clients. We remember how some firms pivoted seamlessly during the pandemic, while others struggled. Could CROs have helped these firms better navigate the pandemic and its aftermath?

In some ways, most law firms already have a CRO of sorts: the firm’s general counsel, who acts as a liaison between the firm’s C-suite and its ground operations. Expanding the GC role to encompass strategic planning across all aspects of the firm would help GCs be appropriately reactive and proactive across strategic management and risk mitigation.

Have you heard of any firm experimenting with a CRO role? We are curious to see whether this trend takes hold in the legal industry. As lawyers know better than anyone, the time to test how well your firm can manage a crisis in not when you’re in the middle of one.